First Federal Bank, fsb

One of the most important purchases you will ever make will be the purchase of your home. We offer a number of financing options to assist you in purchasing your dream home.
For more information on how First Federal Bank can help you on financing your house, please contact one of our loan officers at loans@ffbanks.com.

Fixed Rate Loans

A conventional mortgage loan has an interest rate that does not change over the life of the loan. As a result, each payment remains essentially the same each month, with only minimal changes possible each year due to varying costs for property taxes or homeowners insurance.
If you obtain a conventional loan you may make down payments as low as 5% when Private Mortgage Insurance is obtained.

SDHDA (First Time Home Buyer)

	Income limitations apply
	Property purchase price limits apply
	No down payment with loan guaranteed by RECD
	3% down payment with PMI Insurance
	30 year term
	Step-up rate program is also available
	Call for current rates

Adjustable Rate Mortgage (ARM):

With an ARM you are protected from interest rate fluctuations by rate caps that limit the amount by which the rate may rise each time your loan adjusts and also limits the maximum rate over the life of the loan.

ARMs originated by First Federal Bank serviced locally by our friendly staff at First Federal Bank.

Balloon Mortgage:

Balloon mortgages feature a long-term amortization, with full payment of the remaining principal due at the end of the balloon term. The principal and interest payments are fixed during the balloon term. Balloon Mortgages are serviced locally by our friendly staff at First Federal Bank.

Home Equity Line of Credit:

Your residence may have increased in value over the years through home improvements or improved market values. If so, you may be eligible to take advantage of First Federal's Home Equity Line of Credit.

WHAT IS A HOME EQUITY LINE?

It is a convenient, easy way flexible loan that you write yourself a loan. You apply for the desired amount based on the equity that you have in your home. Then, when you have a need for cash or have expenses, you simply write a check. Payments are based only on outstanding balances.

WHO CAN OBTAIN A HOME EQUITY LINE OF CREDIT?

All homeowners may be eligible for a Home Equity Line, depending on the equity you have in your home. You can have a First Federal Bank Home Equity Line even if your mortgage is with another bank.

WHY SHOULD I HAVE A HOME EQUITY LINE?

Since you actually write your own loan, your Home Equity Line is available for basically anything you need, including a new car, home improvements, repairs, vacation, medical expenses, debt consolidation, investments, weddings, a boat,... and the list goes on.

WHO DO I TALK TO TO GET A
HOME EQUITY LINE?

Stop in at First Federal Bank and talk with any of our Loan Officers. They can provide you with the information that you need to make your decision.

Construction Loans:

At First Federal Bank we are committed to getting you into that new home. We offer a Construction Loan to get you started with the house of your dreams.

Interim Construction Loan:

Provides funds for up to six months to complete your home.

Construction / Permanent Loan:

Provides construction financing as well as long term financing upon completion of your home.

Home Improvement Loans:

Suppose you want to repair or remodel your home, First Federal Bank can make your plans a reality with a Home Improvement Loan. It's ideal for small to medium-sized projects, and you can use it for any expenditure that adds value to your home.