We Make It Easier To Buy
A New Home

Buying a new home should be a pleasant experience. We'd like to help make it that way by taking the worry out of applying for a mortgage. That's why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us.

Select A Mortgage Loan To Fit Your Financial Situation. Before you apply for your mortgage loan, you'll need to decide which type of loan may be right for you.

Conventional Fixed Rate Mortgages offer the security of a fixed principal and interest payment, with terms of 10 to 30 years. Fixed rate mortgages are issued under guidelines of Fannie Mae - FNMA or Freddie Mac - FHLMC. Private Mortgage Insurance is usually required for loans with less than a 20% down payment.

First-Time Homebuyer - In addition to our regular loan programs, we also offer First Time Home Buyer & Down Payment Assistance Programs. Our Loan Officers will be happy to discuss our many programs to find the one that fits your lifestyle and financial needs.

Adjustable Rate Mortgages - ARMs are normally available at lower initial rates with potential for rate and payment adjustments at 1, 3, or 5 year intervals. Future market conditions can influence rate changes; however, built in rate caps and margins provide a measure of security and limited increases over the life of the loan. ARMs can be amortized up to 30 years. Private Mortgage Insurance is usually required for loans with less than a 20% down payment.

Jumbo Loans are available on both fixed and adjustable rate options.

Collateral Pledge Program - allows us to offer creative solutions in cases where the borrower may not have a qualifying downpayment, or credit quality does quite conform to the secondary market guidelines or a relative may want to assist with the purchase of a home without making a cash gift for a downpayment. Other collateral is used instead of downpayment cash.

Non-conforming Loans - are defined as those loans which fall outside the secondary market guidelines for what is typical in underwriting a loan, i.e., credit quality, type of home, job history, size of a lot, etc. Not every potential homebuyer qualifies for a standard, predefined, "cookie cutter" type of loan program. In some cases, we are able to offer "outside the box" solutions to help families meet their housing needs.

The "Equity Line Advantage" - A home equity line of credit program allows you to tap up to 90% of the equity in your home to meet your credit needs such as financing a car or paying off credit cards.

Bridge Loans - allow a homeowner to "bridge" the equity in one home to a new home. This occurs when a homebuyer needs the cash proceeds from the sale of the current home to use as the downpayment for the new purchase. This solution is usually a short term loan. A bridge loan allows the new purchase to be accomplished without requiring the sale of the current home to be part of the contract.

100% Financing:(80%/20% Loan Program) - an excellent option for those who have the income and credit quality to qualify for a larger mortgage payment, but have not accumulated the corresponding larger downpayment typically required. Often physicians, attorneys, nurses, teachers and computer professionals are good candidates for this program.

Lock-In features offer you the choice to lock in for 40 days at no additional charge or for longer periods for an additional fee.
Why Choose First Federal?

1. Direct, One-on-One Service

Our loan officers work with each customer personally. We treat our customers as individuals, taking as much time as necessary to answer questions and explain details. We take pride in going the extra step to ensure the customer will come back again and again. We are small enough to refer to our customers by name rather than property address, but large enough to ensure competitive pricing. We offer a full line of mortgage products, including many specialized programs: bridge loans, 90% financing, non-conforming loans, and first time homebuyer programs, to name a few.

2. Quick Turnaround Time

In many cases, loans can be approved for further processing in a day because we have local underwriting and local approvals. When our customers have a question or problem, our goal is to resolve it as soon as possible.

3. A "Small Bank" Atmosphere

We truly care about our customers and come to know them as individuals. Customers frequently tell us how friendly and knowledgeable our employees are.

4. Customer Satisfaction

We are extremely interested in making sure that all of our customers are pleased with their banking experience with us. FIRST FEDERAL regularly surveys our customers for feedback on the quality of our service. Also, every mortgage loan customer is sent a loan questionnaire, and it is returned directly to Gary Riley, the President of FIRST FEDERAL.

Your FIRST FEDERAL loan officer can help you determine what you can afford, provide a breakdown of potential costs and in some cases, identify programs that will provide assistance with your down payment. We will help you choose from our wide variety of mortgage options to fit your financial situation and lifestyles.

Your home purchase is likely to be the most important investment you will ever make. Call our Loan Department at 262-542-4448, or drop by any FIRST FEDERAL office today and ask to speak to one of our loan specialists.

5. Contact Information

Give us a call. We welcome the opportunity to listen to your needs and work toward a solution. You may reach the Loan Department directly by calling 262-542-4448.

Is Refinancing Right For You? Generally, it's a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage. Whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, call one of our loan experts at 262-542-4448 today to start the process.