Mortgage Loans
Buying a home can be a stressful situation, but it doesn't have to be that way. At First Federal, we work hard to ensure you get fast, friendly, and fair financing. We provide a wide variety of mortgage loan products with the rates and financing that are right for you.
- Summary
- Local service
- Personal attention
- Traditional fixed rates
- Adjustable rate mortgages (ARMs)
- Construction to permanent loans
- USDA rural development mortgages available
- Vacant land mortgages
- Cabin mortgages
- Cottage mortgages
- Vacant waterfront mortgages
- Condominium mortgages
- Construction loans
- Manufactured home loans
- Investment or rental property loans
- Second homes
- Blanket mortgages
- Bi-Weekly mortgages
- Fixed Rate Vs. Adjustable Rate
First Federal offers several mortgage options. Here are some things to consider when deciding:
Fixed Rate Mortgages
Provide the security of set monthly principal and interest payments throughout the length of your loan. This is ideal for many different needs for a borrower: to purchase a new home or second home, refinance a current home, take out equity to do home improvements, or use the equity for many personal reasons. If your situation is similar, a fixed rate mortgage may be a good option for you and your family.
Adjustable Rate Mortgages (ARMs)
An ARM offers a set term for an initial period of your mortgage. After the initial interest period, rates are subject to change with market conditions. An ARM mortgage may be a good option if you are purchasing vacant or development land, a cabin or cottage, or only intend to have your mortgage for a specific number of years.
- Refinance
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Are you getting the best deal on your mortgage? First Federal offers some of the lowest rates around, so why not see if we can give you a better deal. Just think of the money you could save!
