Federal Deposit Insurance Corporation FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Construction or Renovation Loans

Build, Renovate, or Land Loans

Your Vision, Our Financing - Build, Renovate, Or Secure Your Lot With Ease 

Construction - to- Permanent Loans

Finance your land and construction in one streamlined loan with a single closing. Enjoy interest-only payments during the build and automatic conversion to a fixed-rate mortgage when your home is complete.

Benefits

  • Simplified process with one closing
  • Interest-only during build helps manage cash flow
  • Predictable monthly payments after conversion
  • Peace of mind with rate protection and flexibility to drop if rates improve

Details

  • Conventional Financing: Up to 95% LTV
  • Jumbo Financing: Available up to 85% LTV for qualified borrowers
  • Interest-Only During Build: Lower payments while under construction
  • Rate Protection: With First Federal's rate protection, you can benefit from a lower rate at the time of modification from construction to perm loan if the home is completed within the time frame and the construction rates are lower at the time of modification. 
  • One-Time Close: One closing, one set of fees, one smooth process
  • Eligible Properties: Single-family homes and modular homes (no manufactured homes)
 
The offer of credit is subject to credit approval.

construction loan

Renovation Loans

A Renovation Loan is a mortgage that allows borrowers to finance both the purchase (or refinance) of a home and the cost of repairs or improvements in a single loan.

Benefits

  • Upgrade your home without juggling multiple loans
  • Flexible options for large or small projects
  • Compatible with other mortgage programs

Details

  • Finance home improvements or repairs in one mortgage - ideal for kitchens, bathrooms, additions, and major upgrades
  • Combine renovations costs with your mortgage for convenience
  • Single-close simplicity - start your project right away

Lot Loans

Purchase land now, build later. Competitive rates and flexible terms to fit your timeline. Option to roll into construction financing when ready.

Benefits

  • Secure your ideal location
  • Plan your build without pressure
  • Financing tailored to your goals