First Federal offers a full array of mortgage options to suit you and your family’s needs. Our team will give you prompt service the whole way through so you can get moving in no time. We participate in many specialty lending programs — count on our lending team to recommend the best solution for your unique situation. Our expertise saves you time by having your loan decisions made locally. We’re also the leading lender in the Magic Valley and now expanding within the Treasure Valley. Below are a few of the loan options available to you.
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Purchase
- Fixed or adjustable-rate options
- Jumbo loans – for homes with a larger purchase price
- Land loans – purchase land only for your future home
Refinance
Recent interest rates mean you could be in a unique position to refinance your current home loan. Contact a First Federal Mortgage Loan Professional today to find out about our great loan options which may help lower your interest rate, lower your payments, or even shorten the term of your loan.
Build
Go from blueprints to backyard barbeques. If you’re considering building your new home, First Federal has convenient and easy financing options to make it a reality.
- One-time close – a single loan closing for both the construction and permanent financing. Learn more.
- Construction-only option also available.
Low Down Payment Options
- Federal Housing Administration (FHA) Loans – These FHA-insured loans allow for a low down payment, which can be made up of a gift, grant, or personal savings.
- Rural Development (RD) Loans - If your home search leads you to a more rural community, an RD loan allows for little or no down payment with up to 100% financing. Income limits and property location restrictions apply.
- Veteran’s Administration (VA) Loans – You’ve served our country, so let us serve you! VA loans are a 100% financing option available to military veterans or a widow of a veteran with benefits.
- Idaho Housing and Finance Association (IHFA) Loans – Several loan options are available through the IHFA for low- to moderate-income households. Features include down payment and closing cost assistance and some borrowers may be eligible for mortgage credit certificates (MCC) for federal tax credits.
- 100% Portfolio Purchase Mortgage – For qualified borrowers, a 100% portfolio loan may put homeownership within your reach with very little to no down payment! Federal! 1% minimum borrower contribution towards loan costs (may be gifted) is required.*
Specialty Programs
Several additional options are available if applicable to your needs and unique situation.
- Professionals Program – a low down payment option for those in professional fields (medical, CPAs, law, and others). Deferred student loan payments are taken into consideration.
- ITIN Loans – These are mortgage loan options available to borrowers who do not have a Social Security number but do have an Individual Tax Identification Number (ITIN).
- Reverse Mortgages – If you are 62 or older, this a great way to unlock the equity in your home to supplement retirement income, plan for future expenses, or buy the retirement home of your dreams. Learn more or contact our Reverse Mortgage Loan Officers in the Magic Valley or Treasure Valley for details.
Home Equity Lines of Credit and Home Equity Loans
You’ve worked hard to build equity in your home. Learn more about the options available to you for utilizing that value and easily access it for projects like home improvement and beyond.
Not a commitment to lend. Terms are subject to change without notice. Subject to credit approval.
*Credit qualifying criteria includes, but is not limited to, a minimum credit score, maximum debt-to-income ratios and loan term. Mortgage insurance required.
