Mortgage Options

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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Eyeing your next move? We offer a variety of traditional financing options that are perfect for purchasing a primary residence, a second home, or even an investment property.
  • Fixed or adjustable-rate options
  • Jumbo loans – for homes with a larger purchase price
  • Land loans – purchase land only for your future home


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.


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.

Mortgage Rate Relief 

First Federal Bank is excited to offer a NEW mortgage savings product – Mortgage Rate Relief – through FHLB of Des Moines.

  • For qualifying households, Mortgage Rate Relief will lower the current market mortgage interest rate up to 2%!1 - To be eligible, household must be at or below 80% of the FHFA area median income2 Learn more.
  • Can be paired with other eligible down payment programs including Home$tart and NAHI.3

Low Down Payment Options 

Purchase your new home with little to no money down. We have several programs available that can make it easier upfront. Our lenders will help determine if you qualify for any of these programs.
  • 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.*
  • Freddie Mac's Home Possible Mortgage This loan is designed to reduce the barriers to homeownership for those with limited income. Many types of down payment sources are acceptable with Home PossibleⓇ, including family, employer-assistance programs, and secondary financing. 
  • Home$tart®  Qualifying first-time homebuyers may be able to take advantage of up to $7,500in a Home$tart® down payment and closing cost assistance grant funds.***

Specialty Programs 

Several additional options are available if applicable to your needs and unique situation.

  • The Trade-In Mortgage Powered by Calque leverage the equity in your home to purchase a new one, prior to selling your current home with The Trade-In Mortgage powered by Calque.
  • 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.
  • Tiny Home Loans Frist Fed has your big chance to go tiny! If you are looking to go tiny in a new tiny home, we can help!

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. 

 **Terms & Conditions: This is not a commitment to lend. All loans subject to program guidelines and underwriting approval.
Loan program terms and conditions are subject to change without notice. Prequalification is valued at $68 for single applicants
and $129 for joint. Document prep fees valued at $895. Document prep fee discount available on loans sold on the secondary
market only. Document prep fees are not discounted on portfolio products. Limited time offer. Institution NMLS#402963

 ***Subject to availability of grant funds.

1The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be approximately 2% below prevailing market rates at any given time. Mortgage Rate Relief funds are restricted to a primary residence, 1-4 family dwellings, and 30-year fixed conforming conventional loans.

2Eligible households include those with income at or below 80% of the area FHFA median income. Eligible income is based on all adult owners/occupants.

3Borrower will need to meet the requirements of any grant programs in addition to the Mortgage Rate Relief requirements.

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