FHA Loans
Looking for a loan that doesn’t require a large down payment? A Federal Housing Administration (FHA) mortgage is backed by the federal government, so you’ll enjoy lower down payment requirements.
You + Home ownership = Awesome.
An FHA loan with First Federal has a fixed or adjustable interest rate and a low down payment – which can make it appealing for many first time homebuyers.
Benefits
- Low down payment - Because your loan is backed by the federal government, you aren’t required to make a large down payment. You might be able to put down as little as 3.5% in cash.
- Flexible loan term - You can decide the length of loan that’s right for you.
Which loan is right for you?
Fixed
Consider if you…
- Plan to stay in the home for 7 years or more
- Prefer fixed and consistent payments each month
Adjustable
Consider if you…
- Might move in the next 7 years
- Prefer to get a low monthly payment at the start of your loan
Take the guesswork out of borrowing
Borrow with confidence. Download our complete borrowing guide to learn what to expect and feel prepared, whether you are buying a home, a car, or financing another big purchase.
Crunch the numbers
Whether you’re looking to calculate how much home you can afford or how much you might pay each month, we have the tools to help you dominate the digits.
