Mortgage Loan Products

Why First Federal stands above other lenders:

  • Every loan we make remains in our portfolio. We do not sell any of our loans to the secondary market, thereby assuring you of prompt and efficient servicing.
  • Our experienced Loan Officers process your application personally and remain available to answer any questions that you may have during the life of your loan.
  • Turn around time from date of application to date of closing is typically four to five weeks, with a loan commitment approximately two weeks after application


We offer a free, fast (same day decision), pre-qualification process. Let our experienced loan staff guide you in the pre-qualification process. First Federal has mortgage loans available with minimal closing costs.

Click here to pre-qualify

Residential Mortgage Loans

We consider ourselves experts when it comes to home mortgage lending, and for over 90 years we have helped thousands of individuals and families realize the dream of home ownership. There are many lenders and mortgage brokers out there to choose from, but we believe we stand head and shoulders above the rest because of our commitment to providing exceptional service from the first day of application until the day your loan is paid in full. Our loan programs are designed to finance one to four family dwellings, regardless whether it's a first time purchase or refinancing of another lender. Call one of our experienced loan officers to get information on our loan programs and current rates. Subject to credit approval.

Fixed Rate

Rate remains constant for the life of the loan

Residential Construction Permanent Loans

Building a home can mean a lot of tough decisions, but the decision as to where to go for financing can be very easy when you know the details of our construction program. In some cases you can use your lot as a down-payment and you pay only the interest during the construction term not to exceed 11 months. Five stage pay-out schedule with each check payable to the Contractor and Customer as percentage of work is completed and inspections are made by First Federal. Bring your blueprints and construction contract to one of our loan officers and we will have you in your brand new home while other lenders may still be filling out the paperwork.

Residential Owner Builder Construction Permanent Loan

If you have the skills and desire to build your own home without the added expense and overhead of a general contractor, our owner-builder loan program is just what you need. You can be your own general contractor and personally hire any sub-contractors that are necessary. Building your own home offers you many advantages, including creating exactly what you want and doing it at a greatly reduced cost. You can also benefit from enhanced equity (sweat equity) in your property as reduced construction costs can mean less financing required. You may be able to use your lot as a down payment and you pay interest only during the construction period. First Federal is one of the very few lenders in the Tri-State area that offers this program, and it has proved to be one of the most popular among our many customers. For more details on this owner-builder loan, call one of our loan officers.

Residential Veterans Administration loans (V.A.)

If you are a veteran and have your certificate of eligibility, you are entitled to make a loan application for the V.A. loan program. If down payment is a concern, you should know that NO down payment is required. Call today to find out more about this loan program.

Home Equity Loans

Closed End Fixed Rate

Having equity in your home is important and being able to put it to good use is what First Federal can do for you. Rates vary based on length of term. Subject to credit approval.

Home Equity Line of Credit

Home Equity Line Of Credit

If you have equity in your home, a home equity line of credit may be of interest to you. These lines of credit are a convenient way to pay for educational expenses, home improvements, bill consolidation, etc.  The rate is variable and based on the Wall Street Journal Prime Rate. Subject to credit approval.

Other Loan Programs

Affordable Housing

Individuals may qualify for this special program based on income limitations, pre-approval, and pre-purchase counseling. This program is designed with minimal down payment requirement and First Federal absorbing a portion of closing cost.

U.S. Department of Housing and Urban Development FHA Title I Home Improvement Loan Program

Loan proceeds shall be used to finance property improvements approved by the U.S. Department of Housing and Urban Development.

Lot land loans and vacant acres

Lot purchases and vacant acres may be financed up to 65% of the purchase price or appraised value whichever is less. Maximum term is 15 years.

Share loans

Why not put your own money to work for you? If you need money and you don't want to deplete your savings, why not take a share loan. You can use your savings account or certificate of deposit as collateral and borrow up to 90% of your available balance. No monthly payment is required; and the loan is due upon demand.