We are here to help make homeownership possible
Our Affordable Down Payment solutions give everyone, from veterans to families - more options to qualify for a mortgage.1
Our Solutions
- Federal Housing Administration Loans
- Rural Development Loans
- Veterans Administration Loans
- Idaho Housing and Finance Association Loans
- 100% Portfolio Purchase Mortgage
- Freddie Mac's Home Possible Mortgage
- Home$tart
Federal Housing Administration Loans
An FHA Loan is a mortgage that's insured by the Federal Housing Administration. They allow borrowers to finance homes with down payments as low as 3.5% and are especially popular with first-time homebuyers.
FHA loans are a good option for first-time homebuyers who may not have saved enough for a large down payment. Even borrowers who have suffered from bankruptcy or foreclosure may qualify for an FHA-backed mortgage.
- FICO® score at least 580 = 3.5% down payment.
- FICO® score between 500 and 579 = 10% down payment.
- MIP (Mortgage Insurance Premium ) is required.
- Debt-to-Income Ratio < 43%.
- The home must be the borrower's primary residence.
- Borrower must have steady income and proof of employment.
These FHA-insured loans allow for a low-down payment, which can be made up of a gift, grant, or personal savings.
Rural Development Loans
If your home search leads you to a more rural community, an RD loan allows for little or no down payment with up to 100% financing. Income limits and property location restrictions apply.
Program details:
- Up to 100% Financing
- Fixed Rate Mortgage
- 30-year term
To qualify for a Rural Development Loan, applicants must meet the following criteria:
- Properties must be located in designated rural areas.
- Borrowers must meet specific income requirements based on household size and region.
- While we consider credit scores, some programs have more lenient requirements.
*Some restrictions apply, see loan officer for full requirements. All credit products are subject to approval.
Veterans Administration Loans
You’ve served our country, so let us serve you! VA loans are a 100% financing option available to military veterans or a widow of a veteran with benefits.
This is a 100% financing mortgage loan that is made available through the United States Department of Veterans Affairs for qualifying military veterans or a widow of a veteran with benefits to access credit and compete in the housing market. VA loans have more lenient credit, down payment, and debt-to-income requirements than conventional loans, typically offering lower interest rates and lower closing costs.
Idaho Housing and Finance Association Loans
The Idaho Housing and Finance Association (IFHA) is an independent financial entity focused on promoting affordable housing solutions in communities across Idaho. Its mission includes providing rental support, addressing homelessness, offering education for prospective homebuyers, preserving older housing, and developing residential mortgage options.
IHFA offers a range of home financing and down payment assistance programs that are ideal for Idaho residents interested in purchasing single-family homes, condos, or townhouses. These mortgage products provide distinct advantages not commonly found elsewhere, enabling numerous Idaho families to realize their dreams of homeownership.
IHFA Programs:
- Offer Conventional, FHA, VA, and Rural Housing Development Loan options
- May offer both down payment and closing cost assistance (dependent on the program)
- May have low-to-no mortgage insurance options available (dependent on the program)
- May have a purchase price, home type, or income restrictions (dependent on the program)
- Typically require homebuyer education classes
- Are available both to those looking to purchase a home and those looking to refinance
Talk to a Mortgage Loan Professional today to see if you qualify!
100% Portfolio Purchase Mortgage
For qualified borrowers, a 100% portfolio loan may put homeownership within your reach with very little to no down payment! 1% minimum borrower contribution towards loan costs (may be gifted) is required.*
*Credit qualifying criteria includes, but is not limited to, a minimum credit score, maximum debt-to-income ratios and loan term. Mortgage insurance required.
Secondary Financing with Home Possible Mortgages
Do you have a low income but can't afford a monthly mortgage payment and a minimal down payment upfront? In that case, Freddie Mac’s Home Possible® may be a good option for you!
A Home Possible Mortgage is a loan designed to reduce the barriers to homeownership for those with limited income. A Home Possible Mortgage has many benefits, including low down payment options. Many types of down payment sources are acceptable with Home Possible®, including family, employer-assistance programs, and secondary financing.
First Federal Bank is proud to be one of the lenders making dreams of owning a home a reality with Home Possible Mortgages.
*All credit products subject to approval.
Institution NMLS#402963
Home$tart®
The Home$tart® program is available to qualifying first-time homebuyers earning up to 80% of the area median income for the location of residence being purchased. Income limits are adjusted based on household size.
Qualifying first-time homebuyers may be able to take advantage of up to $15,000 in a Home$tart® down payment and closing cost assistance grant funds.**
Contact a Mortgage Banking Professional today and learn more about our programs designed to make homeownership possible and affordable!
**Subject to availability of grant funds.
Use this calculator to determine your projected earnings from our Kasasa Cash account. Move the sliders or type in the numbers to see your potential rewards.
- Estimated Annual Rewards $0
- Estimated monthly interest earned* $0
- Monthly ATM fees refunded**$0
This calculator compares the costs of buying or leasing a vehicle. There are three sections to complete, and you can adjust and experiment with different scenarios.
- Net cost of buying $0
- Net cost of leasing $0
A fixed-rate, fixed-term CD can earn higher returns than a standard savings account. Use this calculator to get an estimate of your earnings. Move the sliders or type in numbers to get started.
- Total value at maturity $0
- Total interest earned $0
- Annual Percentage Yield (APY)0.000%
Whether it's a down payment, college, a dream vacation...a savings plan can help you reach your goal. Use the sliders to experiment based on length of time and amount per month.
- Monthly deposit needed to reach goal $0
This calculator can help you get a general idea of monthly payments to expect for a simple loan. Move the sliders or type in numbers to get started.
- Estimated monthly payment $0
- Total paid $0
- Total interest paid $0
Certificates of Deposit (CDs)
| Term | Interest Rate | APY |
|---|---|---|
| 5-Month Rate Bump w/ Checking1 | 4.35% | 4.44% |
| 5-Month Rate Bump w/o Checking1 | 3.96% | 4.03% |
| 7-Month No Penalty2 | 3.97% | 4.04% |
| 3 Months | 4.30 % | 4.39% |
| 6 Months | 4.21 % | 4.29 % |
| 12 Months | 3.95 % | 4.02 % |
| 18 Months | 3.76 % | 3.83% |
| 30 Months | 3.15 % | 3.20% |
| 4 Years | 3.01 % | 3.05 % |
| 5 Years | 3.10 % | 3.14 % |
$500 Minimum Deposit to Open.
Interest rates and APYs are accurate as of 9/20/2024 Rates are subject to change at any time.
Annual Percentage Yield (APY) assumes interest credited is not withdrawn until maturity or renewal. Principal withdrawals prior to the maturity or renewal date may be subject to early withdrawal penalties. Penalties are not assessed if the account holder is deceased. Renewal grace period is seven (7) calendar days. Fees may reduce earnings on the account. Stated APY is current as of 9/20/2024.
1 If, during the original term of this CD, our CD rate for the same term increases, the account holder(s) may request a one-time increase to the originally disclosed rate. This request will not alter the original maturity date. First Federal Bank checking account required to earn 4.44% annual percentage yield (APY). Customers without a First Federal checking account earn 3.96% with an APY of 4.03%.
2 Earn 3.97% with an annual percentage yield (APY) of 4.04%. This APY is accurate as of 9/20/2024. This offering is for a limited time and subject to change at any time. $5,000.00 minimum deposit to open account. Interest will be compounded and credited monthly. Minimum deposits of $1,000.00 can be made at any time. Penalty-free withdrawals with a minimum amount of $1,000.00 will be permitted any time after the first six (6) calendar days of account opening. Total close-out required if account balance drops below $1,000.00.
Home Equity Loans
| Product | Rate | APR |
|---|---|---|
| Home Equity Line of Credit (HELOC)1 | 8.250% | 8.251% |
| Home Equity Loan2 | 6.375% | 6.378% |
1 HELOC stated APR Annual Percentage Rate (APR) subject to criteria, including automatic payment from a First Federal checking account. HELOC initial payment is interest-only. Line of credit is accessible for ten years followed by a fifteen-year repayment period. Variable interest rate may increase after consummation. Property insurance may apply. Maximum APR of 18.00%. You may also be required to pay certain fees to third parties (such as appraisers, credit reporting firms, and government agencies) to open a line. If you ask, we will give you an itemization of the fees you will have to pay to third parties. In Idaho, the title insurance premium (if applicable) and mortgage recording tax will be based on the maximum amount of the credit line available to you, regardless of how much is advanced to you at any time. Rate quoted is for liens in first position. Loans in second lien position will have higher rates.
2 Rates vary by qualification and term selected. Rate quoted is for liens in first position. Loans in second lien position will have higher rates
Jumbo Certificates of Deposit
| Term | Interest Rate | APY |
|---|---|---|
| 5 - Month Rate Bump w/ Checking1 | 4.45 % | 4.54 % |
| 5 - Month Rate Bump w/o Checking1 | 4.06 % | 4.14 % |
| 3 Months | 4.40 % | 4.49% |
| 6 Months | 4.30 % | 4.39 % |
| 12 Months | 4.05 % | 4.13 % |
| 18 Months | 3.86 % | 3.93 % |
| 30 Months | 3.25% | 3.30 % |
| 4 Years | 3.10 % | 3.14 % |
| 5 Years | 3.20 % | 3.25 % |
$100,000 minimum deposit to open.
Interest rates and APYs are accurate as of 9/20/2024 Rates are subject to change at any time.
Annual Percentage Yield (APY) assumes interest credited is not withdrawn until maturity or renewal. Principal withdrawals prior to the maturity or renewal date may be subject to early withdrawal penalties. Penalties are not assessed if the account holder is deceased. Renewal grace period is seven (7) calendar days. No minimum balance is required to obtain the disclosed APY. Fees may reduce earnings on the account.
1 If, during the original term of this CD, our CD rate for the same term increases, the account holder(s) may request a one-time increase to the originally disclosed rate. This request will not alter the original maturity date. First Federal Bank checking account required to earn 4.54% annual percentage yield (APY). Customers without a First Federal checking account earn 4.06% with an APY of 4.14%.
Kasasa Cash*
| Balance | Minimum Opening Deposit | Rate | APY |
|---|---|---|---|
| 0 - $15,000 | $x | 0.00% | 0.00% |
| $15,000+ | $x | 0.00% | 0.00% |
| All balances if qualifications not met | $x | 0.00% | 0.00% |
Qualifications
xx
Kasasa Saver*
| Balance | Minimum Opening Deposit | Rate | APY |
|---|---|---|---|
| 0 - $15,000 | $x | 0.00% | 0.00% |
| $15,000+ | $x | 0.00% | 0.00% |
| All balances if qualifications not met | $x | 0.00% | 0.00% |
Qualifications
xx
Loan Rates
Loan Rates
SuperSaver Savings
| Daily Balance Range | Interest Rate | Depending on Account Balance, Annual Percentage Yield (APY1) will: |
|---|---|---|
| $0.01 to $500.00 | 10.00% | Equal 10.47% APY |
| NEXT $500 $500.01 to $1,000.00 |
5.00% | Range from 10.47% to 7.79% APY |
| NEXT $1,000 $1,000.01 to $2,000.00 |
1.00% | Range from 7.79% to 4.40% APY |
| Greater than $2,000.00 | 0.10% | Range from 4.40% to 0.10% APY |
1 To qualify for the Annual Percentage Yield (APY), the following requirements must be met during a monthly statement cycle: Minimum of one (1) Round-Up transfer2 from checking account; minimum of one (1) deposit of at least $30 or two (2) deposits of at least $15; no withdrawal transactions; receive e-statements. If eligibility requirements are not met, the interest rate will be 0.10% with an APY of 0.10%. Interest is compounded and credited monthly. $10 minimum opening deposit required. The APY is accurate as of 9/18/2023. The interest rate on this variable rate account may change at any time at our discretion. Each primary account holder is allowed one (1) SuperSaver account per tax identification number.
2 Round-Up transfers must be posted, not pending or processing.