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Rates

Mortgage Loan Interest Rates

Interest Rates and Annual Percentage Rates (APRs) are effective as of: 4/15/2014

Fixed Rates0 pointsAPR *2 pointsAPR *
30 Year 4.375% 4.419% 3.875% 4.088%
20 Year 4.250% 4.310% 3.750% 4.044%
15 Year 3.500% 3.581% 3.000% 3.375%
10 Year 3.375% 3.493% 2.875% 3.420%
ARM Rates0 pointsAPR **
3/1 ARM 3.375% 3.029%
5/1 ARM 3.500% 3.137%
7/1 ARM 3.750% 3.326%
10/1 ARM 4.125% 3.691%
FHA Rates0 pointsAPR **
30 Years 4.750% 6.459%
20 Years 4.750% 6.686%
15 Years 4.375% 5.507%

FHA Mortgage Loan

A borrower does not have to have perfect credit to qualify for an FHA mortgage. And FHA has many options to help borrowers stay in their home and avoid foreclosure.

Interest rates are subject to change at anytime and may be subject to additional fees, including delivery fees, depending on the loan program selected, LTV, credit history, and additional underwriting characteristics.

Check rates on all our mortgage products listed below by calling any of our branch offices or loan originators.

  • Construction loans
  • Modular construction loans
  • Blanket (bridge) loans
  • Investment loans
  • Closed end seconds
  • 80-10-10 mortgage loans
  • First Time Home Buyer (First Federal pays all standard closing costs)***
  • Home equity loans

*APR = Annual Percentage Rate. The APRs shown are based on a $125,000 loan with an applicable down payment, 15 days of prepaid interest, which can vary depending upon the date of the loan closing, and conventional loan document preparation fees of $400.00, which includes credit report, courier fee, tax service fee, flood certificate and quality control fee. Document prep fees for FHA loans, $400.00, include credit report, courier fee, processing/forms fee, flood certificate and quality control fee. For Construction loans, document preparation fees of $450.00 include credit report, courier fee, tax service fee, flood certificate and quality control fee. A Feddie Mac delievery fee may be applicable to your loan. Please contact one of our loan originators for further information and to determine how any delivery fees may impact your loan's annual percentage rate (APR).

**ARMs have a 5% lifetime cap. The estimated APR is based on an index, which is subject to change. The APR and the payments are subject to change on an annual basis after the initial fixed-rate term. The initial interest rate will be in effect for the fixed term of the loan and is not based on the formula set forth in the loan contract. On the first change date, the rate cannot increase or decrease more than 2% for 3/1 ARMs and 5/1 ARMs, and 5% for 7/1 ARMs and 10/1 ARMs.

***Standard closing costs are appraisal, credit report, title work, document preparation, recording fees, tax service fees and flood certification.

 

Deposit Interest Rates

Interest Rates and APYs are effective as of: 4/16/2014

Checking Accounts 
$150 Mininum Opening Deposit on All Interest-Bearing Checking Accounts
Interest RateAPY
Regular Checking 0.10% 0.10%**
Go Green Checking 0.10% 0.10%**
Homeowner CheckingInterest RateAPY
0 - 2,499 0.10% 0.10%**
2,500-4,999 0.15% 0.15%**
5,000-9,999 0.15% 0.15%**
10,000+ 0.15% 0.15%**

Premier Checking
Interest RateAPY
0 - 2,499 0.10% 0.10%**
2,500-4,999 0.15% 0.15%**
5,000-9,999 0.15% 0.15%**
10,000-24,999 0.15% 0.15%**
25,000-49,999 0.20% 0.20%**
50,000+ 0.25% 0.25%**
Savings Accounts  $150 Minimum Opening DepositInterest RateAPY
Regular Savings 0.15% 0.15%***
Christmas Club 0.15% 0.15%***
Money Market  $2500 Minimum Opening DepositINTEREST RATEAPY
0 - 2,499 0.10% 0.10%**
2,500-9,999 0.10% 0.10%**
10,000-24,999 0.15% 0.15%**
25,000-49,999 0.20% 0.20%**
50,000+ 0.25% 0.25%**
Certificates of Deposit  $500 Minimum Opening DepositInterest RateAPY
3 Month Certificate 0.15% 0.15%***
6 Month Certificate 0.15% 0.15%***
12 Month Certificate 0.30% 0.30%***
18 Month Flexible Certificate 0.50% 0.50%***
2 YR/2 Option Certificate 0.50% 0.50%***
36 Month Certificate 0.75% 0.75%***
48 Month Certificate 1.00% 1.01%***
60 Month Certificate 1.25% 1.26%***
Jumbo Certificates Available CALL FOR CURRENT INTEREST RATE  
EZ Access Certificate 0.50% 0.50%***

Variable Rates: The rate may change after the account is opened.

Fees could reduce the earnings on the account.

*Interest Rates And Annual Percentage Yields Disclosed Are Effective As Of This Date

**Annual Percentage Yields (APYs) are based on Monthly compounding. The interest rate and APY earned are calculated on your entire ending account balance each day. If this ending balance moves into a higher or lower tier, then the applicable interest rate and APY will calculate on that entire ending balance and will not be retroactive.

***Annual Percentage Yields (APYs) are based on Quarterly compounding for Regular Savings. Certificates also compound quarterly and the APY assumes that interest remains on deposit and any withdrawals will reduce earnings. We may impose a penalty if you withdraw any of the principal before the maturity date.

Contact Us

Call any of our loan originators for rates any time for current terms and conditions on any First Federal account.

Rochester

800-422-3372

Winamac

800-936-6199

Elkhart

800-251-2618

     

Bremen

800-546-5161

Plymouth

800-382-2664

Mishawaka

800-796-1711

No Origination Fee - $4,000 Point Cap excluding jumbos - Free Pre-Qualifications