Construction Loans

When building your new home in Ohio, Michigan or Indiana, focus on your blueprints coming to life and let us supply the home construction loan that's right for your financial and construction needs.

If you want to build your dream home from the ground up, consider a construction loan from First Federal Bank. Our mortgage lending experts work with you to understand your wants and needs, help you understand how construction loans work, and can secure a money-saving home construction loan that lays the foundation for your new house.

Construction Conversion Mortgage

  • Use for new home construction with multiple payments to the builder during building process
  • Interest-only payments during construction, typically nine months
  • Your loan has one closing and converts to regular financing upon completion

Construction-Renovation Loan

  • Use for major home improvements to current home with multiple payments to the contractor during renovation
  • Interest-only payments during the home rehabilitation process
  • Your home improvement loan has one closing and converts to regular financing upon completion

 

To get pre-approved or pre-qualified for a construction loan, contact a local mortgage rep in OH, MI or IN.