Adjustable Rate Mortgage

Finance your Home with an Initial Lower Payment

An Adjustable Rate Mortgage (ARM) has an interest rate that adjusts so you may enjoy an initial lower payment.

Interest Rates Adjusts
Payment is often lower than a fixed rate mortgage

May help if you plan to sell in a few years

With a lower payment, you may be able to pay
more towards your principle 

Jen Chaney at First Federal navigated me through the mortgage loan process in a knowledgeable and effective manner that enabled me to close in 30 days. I was so thankful that she communicated calmly and answered all questions in timely manner, and made the process less hectic for me. Closing in 30 days? I thought it was not possible. Thanks for being on my home purchase team, Jen.

-Kathi Jones

In June of 2020, we closed on a new home with First Federal Bank....
Building a new home and securing financing during normal times is scary and overwhelming. However, doing so during the height of the COVID-19 pandemic is another whole level of overwhelming. I'm not so sure we would have been successful in purchasing our home, had we not had Yvette on our team! In these days and times, encountering someone with her level of work ethic and professionalism is not easy to find.

-Roger and Jessie Sumner

Financing your dream home

Tips to consider when financing your home.

The Right Company

Finding a bank who meets all your criteria for a loan can be a challenge. To ensure they are up to your standards, ask for referrals and talk to the loan officer about options.


Set a Budget

Use our calculators to set your budget and determine a comfortable monthly payment.  It's important to account for the mortgage payment, which could include property taxes and insurance, plus occasional house expenses such as repairs. 


Get the Right Type of Loan

Consider how long you plan to live in your home and determine if an adjustable rate mortgage is right for you. Your Loan Officer will guide you through the options based on your budget and home ownership goals. Be sure to share all of your plans with them to get the best fit, for you. There are many options available. Contact your First Federal Loan Officer for more information.