First Federal Bank Blog

Are you considering purchasing or refinancing a home? If so, you're in luck! We offer a convenient and seamless process for those who are looking to make a big move into homeownership, or save money by refinancing their current mortgage.

If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers...

Obtaining a new mortgage loan can be an exciting yet overwhelming process. With so many options available, it's important to make informed decisions to ensure you are getting the best deal possible. At First Federal Bank, we want to help you navigate the mortgage loan process with ease. Here are some do's and don'ts to keep in mind when applying...

If you’re planning to buy your first home, saving up for all the costs involved can feel daunting, especially when it comes to the down payment. That might be because you’ve heard you need to save 20% of the home’s price to put down. Well, that isn’t necessarily the case.

For homeowners who put less than 20% down, Private Mortgage Insurance or PMI is an added insurance policy for homeowners that protects the lender if you are unable to pay your mortgage.

If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season.

Before making the decision to buy a home, it's important to plan for all the costs you’ll be responsible for. While you're busy saving for the down payment, don't forget you’ll want to prep for closing costs too.

Here’s some helpful information on what those costs are and how much you should budget for them.

If you want to buy a home, you should know your credit score is a critical piece of the puzzle when it comes to qualifying for a mortgage. Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article from US Bank explains:

Buyingyour first home is a big, exciting step and a major milestone that has the power to improve your life. As a first-time homebuyer, it's adreamyou can make come true, but there are some hurdles you'll need to overcome in today’s housing market – specifically the limited supply ofhomes for saleand ongoingaffordabilitychallenges.

The Down Payment Assistance is a second mortgage subsidy to assist borrowers who may be struggling with down payment obligations. The subsidy offers up to $7,500 to cover 100% of down payment and closing costs. Furthermore, eligible active duty and retired military personnel, reserves, law enforcement officers, corrections officers, and educators...