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Home Equity

Home Equity Products

Unlock Your Home’s Equity – Your Way

HELOC (Home Equity Line of Credit)

HELOC (Home Equity Line of Credit)

  • Flexible Access: Borrow what you need, when you need it.
  • Revolving Credit: Draw funds during the access period, repay, and reuse.
  • Variable Rates: Competitive rates tied to market conditions.
  • Perfect For: Ongoing projects, unexpected expenses, or financial flexibility.

Closed-End Fixed Rate Second Mortgage

Closed-End Fixed Rate Second Mortgage

  • One-Time Lump Sum: Get all your funds upfront.
  • Fixed Rate Stability: Predictable payments for the life of the loan.
  • Set Term Options: Choose the term that fits your budget.
  • Perfect For: Large expenses like home improvements, debt consolidation, or major purchases.

Whether you need flexible access to funds or a predictable monthly payment, we have options to fit your goals.

 

LIMITED TIME OFFER:

 

 

  • *Limited-time offering - 4.99% APR introductory rate for 6 months then the rate will be based upon the Wall Street Journal Prime Rate + Margin
  • No Closing Costs or Application Fee
  • Use for Debt Consolidation, Future Remodel, Pay for School, Vacation, Auto or Boat Purchase, Wedding Cost, Emergencies
  • $75 Annual Fee waived for the 1st year
  • Interest-only payments on what you borrow for the first 10 years
  • .250 discount rate for establishing and maintaining an Automatic Payment from a First Federal Savings Bank deposit account**

Apply Today

     

 

*Existing First Federal Savings Bank (FFSB) Home Equity Lines of Credit (HELOCs) are not eligible to modify or refinance to the 4.99% introductory promotional rate. Must apply by June 30, 2026.  The HELOC Introductory rate of 4.99% will start at closing (note date) and continue for the first 6 months from the note date. After the Introductory Rate period ends, the APR can change monthly and will be calculated adding the monthly variable rate Index plus a Margin. The index is the Wall Street Journal (WSJ) Prime Rate. The margin is based upon the credit score and loan to value (LTV) at the time of credit review. The current margin can range between .250 to 2.5%. The APR = Annual Percentage Rate. Ask your Mortgage Loan Originator for details. **The .250 discount to rate for establishing and maintaining a Care-Free automatic payment from a FFSB personal deposit account does not apply to the 4.99% introductory rate and will be subtracted after the 6-month introductory rate promotion ends. The current non-promotional APR rate ranges from 7.00% to 9.25%.  The rate floor is 5% and the maximum rate is 21%. 90% Combined Loan to Value (CLTV) for Owner Occupied and Second Home 1-unit properties with a maximum of 85% CLTV for 1st Lien Position.  Property restrictions apply.  Minimum credit score of 680. The minimum line request is $10,000 and the maximum is $250,000. The HELOC will have a 10-year draw period with access by check or debit card. The minimum payments are interest-only during the draw period. After the draw period ends, funds can no longer be accessed during the repayment period of 20 years. Any remaining balance is amortized over 20 years based upon the monthly variable WSJ Prime Rate Index plus Margin. All Loans and Lines of Credit are subject to credit review and decision. Rates, Index, Margin and Introductory promotional rates are subject to change without notice. First Federal Savings bank is FDIC Insured and a Equal Housing Lender. NMLS# 399927