FHFA Increases Conforming Loan Limit for 2022

November 30, 2021 by First Federal Bank

Every year in November, the Federal Housing Finance Agency (FHFA) updates the conforming loan limit. First Federal Bank is excited to announce the limit for 2022 has been raised to $647,200, a $98,950 increase over 2021.

“First Federal Bank was anticipating an increase in the conforming loan limit for 2022,” said Paul Ottendorf, Division...

Topics: Homeowners

Picking Up The Pieces After Storms Damage Your Home

November 24, 2021 by First Federal Bank

Whether wind, snow, hail, or a hurricane damages your home, recovering from a storm is a complicated process. Even if the damage was minimal, figuring out how to repair the problem, receive compensation for your loss, and deal with insurance claims can be overwhelming. The following tips can help you navigate the situation:

Topics: Financial Education, Homeowners

Home Equity Line of Credit vs. Home Equity Loan

September 13, 2021 by First Federal Bank

Are you in the process of remodeling your home? Or maybe you're looking to consolidate your debt? If that's the case, you might want to explore the option of opening a home equity line of credit (HELOC) or applying for a home equity loan. Both of these options utilize the value of your home as collateral and can be instrumental in achieving your...

Topics: Homeowners

Are You Ready to Own a Home?

September 01, 2021 by First Federal Bank

Owning a home is a large part of adulthood for many, but it can be daunting to think of everything that comes with the process of becoming a homeowner. From being financially stable, to accounting for possible emergencies, there are certain things to be aware of when it comes to purchasing a new house.

Topics: Family, Homeowners, Mortgages / Home Equity

5 Pet-Friendly Houseplants to Grow

August 13, 2021 by First Federal Bank

Bringing the outdoors in is a great way to add life, a touch of color, and a burst of brightness into your home. However, be careful before grabbing any specimen from your local nursery. Even if you and the human members of your family know not to munch on leaves, flowers, or stems, your four-legged family members may not. The following plants,...

Topics: Lifestyle, Homeowners

Is a Construction to Permanent VA Loan Right for You?

July 23, 2021 by Wendy Hilton

A VA loan is one issued by private lenders and backed by the U.S. Department of Veterans Affairs. It can help U.S. active duty service members, veterans, and widowed military spouses buy a home. VA loans are popular, because they offer a no down payment option and do not require mortgage insurance. They can be easier to obtain than a conventional...

Topics: Personal Banking, Family, Homeowners

Building Your Home's Curb Appeal

July 12, 2021 by First Federal Bank

With the real estate market on fire, you might be considering selling your home. As the saying goes, first impressions are everything. The curb appeal of your home sets a clear standard of excellence. If you feel like your property could stand to pop a bit more, building curb appeal can be easy, affordable, and well worth the effort.

Topics: Homeowners, Mortgages / Home Equity

Creating a Home Maintenance Schedule

June 25, 2021 by First Federal Bank

Just like your car or your own body, your house needs regular care to keep its condition in top shape. To help you make this a habit, here’s a helpful summary of the most common maintenance tasks every house requires. Use this guide to make a checklist for your own house’s particular needs.

Topics: Homeowners

What Home Insurance Actually Covers

June 23, 2021 by First Federal Bank

Your home is a major investment, and anything that goes wrong on your property could result in extensive repair costs. You don’t want to find out when filing a claim that your policy doesn’t cover what you thought it did — and you’re stuck paying for repairs out of pocket. These are the four primary categories that most standard homeowners...

Topics: Financial Education, Homeowners

What is a Bridge Loan?

May 28, 2021 by First Federal Bank

A bridge loan is a short-term loan used to provide immediate cash flow when financing is impending but not available right away. Bridge loans are sometimes also known as swing loans, gap financing, or interim financing. Homeowners typically use these loans to cover the cost of new property before they can sell their current house.

Topics: Personal Banking, Homeowners

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