First Federal Bank & First Insurance Group1 recognize the many benefits of homeownership for families and our communities. That's why we celebrated National Homeownership Month by challenging all of our employees to work together to reach our goal of volunteering 500 hours with organizations that help build better communities. We are excited to announce that we exceeded our goal and volunteered a total of 597 hours during the month of June. Watch us in action below!
Special thanks to these amazing organizations for supporting our cause and giving us the opportunity to make a difference:
Whether you're crunching the numbers for your home buying budget, buying your first home or shopping for a house, First Federal Bank is here to help. Browse through our helpful homebuying tools and tips below.
Start saving now for a down payment – while special programs with lower down payment options may be available, a traditional mortgage requires a 20% down payment of the home’s purchase price.
We recommend spending below 30% of your gross income on your monthly mortgage payment.
Understand the fundamental steps to buying a home before you get started with this helpful infographic.
Understand your home buying budget and show sellers you’re serious by getting pre-qualified and/or pre-approved.
Find a lender that offers more than just a low-interest rate so that buying a home is as easy and stress-free as possible.
Keeping track of details after multiple home showings can be tough. Use our home comparison tool to help as you shop.
Credit is one of the key factors in the approval decision and may determine your interest rate. Find out your score as a first step.
As a first-time homebuyer, you have access state and federal programs that specifically help with the down payment, some as low as only 2.5%–5% down vs. 20%.
From figuring out how much you can afford to finding the best solutions, there are a lot of helpful articles and tips for first-time homebuyers to get you moving.
Beyond the down payment, you will still need to add 2-5% of your loan amount in closing costs into your budget.
In addition to finding the best interest rates, decide if a fixed or adjustable rate mortgage is right for you depending on your needs for predictability or flexibility.
Compare a 15-year vs a 30-year mortgage to determine which makes the most sense for you based on long term savings, projected monthly payments and more.
Contact us for more information, apply for a mortgage online, or find your local First Federal Bank lender.
To find a First Federal mortgage specialist in your neighborhood, please select the city closest to you:
Thanks for following along with us on social media as our teams lend a helping hand to homeowners in the community.
1Not FDIC Insured. Not a Deposit. May Lose Value. Not Guaranteed by the Bank. Not Insured by Any Federal Government Agency.