Purchase Loan Features:

• Available for primary residence and second home
• Condominiums and planned unit developments are acceptable
• As little as 3% down
• Fixed or adjustable rate programs
• Apply Online Now

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $150,000 loan amount; 3.000% rate; 3.187% APR; 360 monthly payments of $632.41, which includes principal and interest only. APR based on $150,000 loan amount; 15% down; 1 point. Program available on 1-4 family owner-occupied homes. Other rates and programs are available. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.} 

Refinance Loan Features:

• Available for primary residence and second home
• Condominiums and planned unit developments are acceptable
• Cash out options available
• Fixed or adjustable rate programs
• Apply Online Now

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $150,000 loan amount; 3.000% rate; 3.187% APR; 360 monthly payments of $632.41, which includes principal and interest only. APR based on $150,000 loan amount; 15% down; 1 point. Program available on 1-4 family owner-occupied homes. Other rates and programs are available. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE.Rates Effective 09/03/2020.} 

Have you found a house that you want to make your “dream home” with an addition, repairs or some updating?
Our Renovation Loan not only lends you the money for the purchase of the home, but also the money for the addition and improvements too!

Renovation Loan Features:

• Available for purchases and refinances
• Condos and second home are eligible 
• Borrow up to 85% of the higher appraised value- No Mortgage Insurance, as for details  
• Appraised value is determined as if renovations are complete
• Competitive fixed and adjustable rates available 
• Act as your own general contractor or hire a builder
• Available for owner-occupied 1 to 4 unit properties
• No prepayment penalty

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $150,000 loan amount; 3.500% rate; 3.826% APR; 360 monthly payments of $673.57, which includes principal and interest only. APR based on $150,000 loan amount; 15% down; 0 points. APR will vary based on the dollars borrowed for renovation. Construction loan fee of 1.5% or maximum $500 charged on the lesser of the loan amount or the cost to build. Program available on 1-4 family owner-occupied homes.  Other rates and programs are available. For well qualified customer; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020}

Act as Your Own General Contractor

You have the lot, the plans, and the ability! Now you need the construction loan to bring it all together.

Construction Loan features include:                                                                                                      

• Borrow up to 85% of the appraised value- No mortgage insurance, as for details 
• Single close loan with one set of closing costs, automatically converts to permanent financing 
• Five Draw Schedule
  • Additional draws available, if needed 
• Competitive fixed and adjustable rates available 
• $500 construction loan fee 
• Lot equity can be used towards your down payment 
• Lots up to 25 acres are eligible 
• No prepayment penalty 

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $150,000 loan amount; 3.500% rate; 3.826% APR; 360 monthly payments of $673.57, which includes principal and interest only. APR based on $150,000 loan amount; 15% down; 0 points; $500 Construction Loan Fee + 7 months interest. Program available on 1-4 family owner-occupied homes. Other rates and programs are available. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.} 

Building with a General Contractor

You have a builder, the lot, and the plans! Now you need the construction loan to bring it all together.

Construction Loan features include:                                                                                                      

• Single close loan with one set of closing costs, automatically converts to permanent financing
• Competitive fixed and adjustable rates available 
• Five Draw Schedule
  • Additional draws available, if needed 
• 7-12 month build time 
• $500 construction loan fee 
• Borrow up to 95% with mortgage insurance, restrictions apply 
• No prepayment penalty 

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593.Payment example: $150,000 loan amount; 3.375% rate; 3.692% APR; 360 monthly payments of $663.14, which includes principal and interest only. APR based on $150,000 loan amount; 20% down; 0 points; $500 Construction Loan Fee + 7 months interest. Program available on 1-4 family owner-occupied homes. Other rates and programs are available. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.}

Have you found the perfect location to build your dream home, but not quite ready to build? 
We have the right loan for you!

Lot Loan Features:

• 20% down payment on developed lots
• 25% down payment on undeveloped lots
• Financing options available for land up to 25 acres
• 15-year term, fixed rate
• Zero points

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $50,000 loan amount; 6.250% rate; 6.803% APR; 180 monthly payments of $428.71, which includes principal and interest only. APR based on $50,000 loan amount; 20% down; 0 points. Loans can be made on acreage up to 25 acres, if the primary use is the owner-occupied home. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.} 

Condominium Loan Features: 

• We lend on warrantable and non warrantable condos
  • Warrantable:
    • As little as 5% down with mortgage insurance
  • Non– Warrantable:
    • 15% down no mortgage insurance for well qualified borrowers
• Purchase or refinance renovation loan available
• Fixed and adjustable rate programs
• Free pre-approvals
• Apply Online Now

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $150,000 loan amount; 4.125% rate; 4.247% APR; 360 monthly payments of $726.97, which includes principal and interest only. APR based on $150,000 loan amount; 15% down; 1 point. Program available on 1-4 family owner-occupied homes. Other rates and programs are available. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE.Rates Effective 09/03/2020.} 

Jumbo Loan Features:

• Purchase, refinance or construction loans for single family residence, planned
  unit developments, condominiums and second homes
• Various down payment options available
• Fixed and adjustable rate programs
• Free pre-approvals on purchases

CONTACT OUR LENDING STAFF FOR MORE DETAILS 

_{NMLS#596593. Payment example: $515,000 loan amount; 4.125% rate; 4.181% APR; 360 monthly payments of $2,495.95, which includes principal and interest only. APR based on $515,000 loan amount; 20% down; 1 point. Program available on 1-4 family owner-occupied homes. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.} 

Doctor Loan Features:

• Borrow up to $500,000 with No PMI
• As little as 3% down on purchase of an existing home
• Higher debt to income ratios considered
• Doctors in Residency or Fellowship programs are also eligible under this program, up to government conforming limits 
• This program is open to Medical Doctors (M.D or D.O), Dentists (DDS, DMD), Podiatrists (DPM ),
  Optometrists (OD) or Veterinarians (DVM) who are licensed to practice in the State of Ohio
• Purchase or construction loans for single family units, planned unit developments, townhouses,
  condominiums and second homes
• Fixed and adjustable rate programs 

CONTACT OUR LENDING STAFF FOR MORE DETAILS

_{NMLS#596593. Payment example: $515,000 loan amount; 4.125% rate; 4.181% APR; 360 monthly payments of $2,495.95, which includes principal and interest only. The above rates apply to in house loans only. APR based on $515,000 loan amount; 3% down; 1 point. 3% down available on PURCHASE of single family owner-occupied homes only. Construction loan guidelines apply to all construction loans. For well qualified customers; subject to certain underwriting restrictions and guidelines. RATES AND OFFER SUBJECT TO CHANGE WITHOUT NOTICE. Rates Effective 09/03/2020.} 

CONTACT OUR LENDING STAFF FOR MORE DETAILS

Please Note: There is an appraisal fee required at the time of application. 

*Rate may increase after consummation. A mobile home loan is a 1 year adjustable loan, maximum adjustment each time is 0.5% with a lifetime adjustment of not more than 5.00% up and a floor of 6.5%. Payment  example: $10,000 loan amount; 7.50% rate; for 180 payments of $92.70, which includes principal and interest only.

**APR based on a $10,000 mobile home loan with normal closing costs and 20% down payment. Payment example: $10,000 loan amount; 7.50% rate; for 120 payments of $118.70, which includes principal and interest only.

_NMLS#596593

A Home Equity Line of Credit (HELOC) is a convenient way to manage both planned and unexpected expenses. Because you control the flexibility, a HELOC from First Federal Savings of Lorain can help pay for weddings, vacations, home improvements, vehicle purchases and debt consolidation as well as unexpected emergencies. 

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