Loan Services

First Federal Savings Bank offers a variety of loans to meet your individual needs.

Mortgage Loans

First Federal Savings Bank offers a variety of home loan options.

  • Conventional Fixed Rate Loans - with maturities  up to 30 years
  • Balloon Mortgages - We offer 10 year and 15 year fixed rate balloon loans
  • Construction Loans
  • Refinancing of existing loans
  • Second Mortgages
  • Residential Lot Loans.

 

 

 

First Federal keeps all real estate loans in-house, meaning we do not sell your loan to a large multi-national holding company or regional financial institution.  Rather, your loan is kept with us, serviced by us, and the funds you repay each month are reinvested in your local community, rather than some large city on a coast.  This is the mission statement we operate under...service to our community.  By keeping your loan in-house, you have immediate access to your loan officer, your loan file, information about your account, and you can have your questions answered promptly, professionally, and by a person you probably know!  We do not have answering machines, so when you call, you will be greeted by a friendly voice with a real person behind that voice, anxious to help.  Come visit First Federal today and help our community grow.

 

 

CONVENTIONAL LOANS

We offer loans to finance your home purchase with 10, 15, 20, 25, and 30 year maturities.  You decide what works best for you.  We offer two types of conventional mortgage loans:  Fixed rate loans and balloon loans.

 

Fixed Rate Loans

15-Year Fixed Rate Mortgage

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate — and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year maturity and voluntarily make larger payments that will pay off their loan in 15 years. This approach combines the benefit of a shorter term with the flexibility to adjust the payment, if needed, and may provide a better alternative to committing to a higher monthly payment for the entire loan term.

10-Year Fixed Rate Mortgage

10-Year Fixed Rate Mortgage products are also available. This loan is fully amortized over a 10-year period and features constant monthly payments. It offers all of the advantages of the 30-year loan, plus a lower interest rate — and you'll own your home sooner. The disadvantage is that, with a 10-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year loan and voluntarily make larger payments that will pay off their loan in 10 years. This approach is often safer than committing to a higher monthly payment.

Balloon Loans

If you’re looking to lock into a competitive rate but for a shorter term (10 year fixed rate or 15 year fixed rate), a Balloon Loan will give you the flexibility you need. When it’s time to renew your loan, you’ll have the opportunity to lock in a fixed rate or renew your loan for another short term—possibly at a lower rate.  Balloon loans offer the flexibility of locking in an interest rate for either 10 or 15 years, but can still be amortized up to 30 years.  This is our specialty product, and can be amortized over a period of up to 30 years.  Our balloon rates are typically lower than the 30 year fixed rate FNMA loan rates that are sold on the secondary market, and involve a simpler process to qualify.  We invite you to compare rates today and see if a balloon option might be right for you!

Below is an example of how a balloon loan might compare to a 30 year fixed rate FNMA loan: (actual rates may vary)

   First Federal  FNMA
Loan Type  10 year balloon  30 year fixed rate
Years to maturity  30 years  30 years
Interest rate 4.25%  4.75% 
Loan amount $200,000.00 $200,000.00
Monthly payment $983.88 $1,043.29
Savings per year $712.92  
total Princ & Int you've paid after 15 years $177,098.40 $187,792.20
Remaining loan balance after 15 years  $130,787 $134,129 

 

 

 

CONSTUCTION LOANS

Time for your dream home to materialize? With a short-term construction loan you’ll have the money you need whenever your contractor needs it throughout the entire process. We can also roll your short-term loan into a mortgage after your new home is completed.  Construction loans vary from 6-9 months typically, and are disbursed either through the bank, or a title company.  Call today for details!

 

REFINANCINGS

It doesn’t matter where you have your mortgage. By refinancing with us, you can either reduce the number of years it will take to repay, decrease your monthly loan payment, or pull out a little cash for family needs.

 

SECOND MORTGAGES

Need a little extra cash for that remodeling project?  How about a second mortgage?  Second mortgage loans have liens subordinate to a prior first mortgage lien.  They offer the benefit of a formal repayment plan, competitive rates, tax advantages, and a simplified underwriting process since we would typically hold the first mortgage.

 

RESIDENTIAL LOT LOANS

Need a loan to finance the purchase of a lot for your future dream home, contact a loan officer today for details.

 

APPLYING FOR A MORTGAGE LOAN

Application 

Contact a loan officer for an application or stop by one of our convenient locations and pick one up.  Loan applications are also be available on our website to print out.


After you have submitted your home loan application, the following checklist will aid you in gathering the information necessary for First Federal to process your home loan request. Please do not hesitate to contact a loan officer with any questions.

Purchase of a Home Checklist:

Tax returns from the past two years – (if self-employed, also provide business returns)
W-2's from the past two years
1 month of recent pay stubs for each employed person
3 months of current bank statements if account is not with First Federal
Final Sales contract 
Real estate agent’s name, address, and phone number
If sale is between individuals (no realtor), copy of previous title policy
Estimate on annual taxes
Estimate on homeowners insurance

Refinance of a Home Checklist:

Tax returns from the past three years– (if self-employed also provide business returns)
W-2’s from the past two years
1 month of recent pay stubs for each employed person
3 months of current bank statements if account is not with First Federal
Copy of most recent real estate tax bill
Current homeowners insurance policy
Copy of existing title insurance policy
Statement from current mortgage holder – showing their name, address, phone number, your account number

 

 

Commercial Loans

 

COMMERCIAL REAL ESTATE LOANS

Our lending team can provide financing for your purchase, or refinancing of income producing 1-4 single family rental properties, or multi-family properties.  Our specialization is real estate lending, and we offer competitive, longer term fixed rate options to finance your lending needs.  Our non owner occupied 1-4 family real estate loans can be amortized for a period up to 20 years, and we offer fixed rate options of 5, 10, and even 15 years, with balloon features if a longer amortization period is required. 

 

We offer:

  • Loans for Income producing 1-4 and multi family properties
  • real estate loans for your business expansion
  • Loans for other commercial real estate purposes
  • professional, knowledgeable loan officers that will learn your business & goals, and develop solutions to meet your needs
  • expert analysis and professional service
  • a fast, efficient decision making process on your loan request, and a quick turnaround

 

 

 

BUSINESS LOANS


We offer a wide variety of business loans to meet all types of business needs.  Following are examples of the types of loan available:

Working Capital Line of Credit
Equipment Loans
Commercial Real Estate Loans
Development and Acquisition Loans
Agriculture Loans
Commercial Construction
Letters of Credit

 

Whether your business requires a mortgage loan, a loan to purchase equipment or money for an expansion, your application will be considered promptly.  Please contact a loan officer today for more information.

 

 

Share Loans

 

First Federal Savings Bank offers loans using your savings account or certificate of deposit as collateral. These loans have an interest rate of 2.50% above the collateral rate.

 

 

New & Used Auto  & Motorcycle Loans

 

First Federal Savings Bank (FFSB) offers new and used auto and motorcycle loans with a variety of terms and rates. A First Federal pre-approved loan can put you in or on that "new vehicle" the same day.  Plus, you can lower your interest rate up to 0.15%,and your monthly payment by simply signing up to have your payment automatically deducted from your FFSB checking or savings account.

 

Features at a glance:

  • Competitive Interest Rates
  • Fast approval process
  • Flexible terms up to 72 months
  • 100% financing for qualified borrowers
  • Rate discount of 0.15% just for having your payment automatically deducted from your FFSB checking or savings account
  • No Loan Financing Fee

 

 

Other Consumer Loans

 

Whether you are looking for a Boat, Motorcycle, RV, ATV, or anything in-between, we have financing for you.   Want to take a small vacation and go hike a mountain in Montana, or relax on a beach in Bermuda, our streamlined underwriting process can make the application experience quick and simple, and get you and your family on your road today!  Call for our competitive rates and terms, and see if FFSB can you today!

 

Refinancing

With First Federal's lower rates you can save by refinancing your home mortgage or auto loan. Its a simple process and can save hundreds of dollars over the life of the loan.  Contact a loan officer today for rates and terms!

 

Loan Rates

 

Mortgage Rates


Owner Occupied 1-4 Family

(up to 30 year amort)

       
Fixed rate products   80% 80%-85% 85.01%-90%
10 year BASE rate/balloon rate   4.375%* 4.625%* 5.250%*
15 year BASE rate/balloon rate   4.625%* 4.875%* 5.500%*

NON-Owner Occupied 1-4 Family

(max of 25 year amort)

       
3 year fixed/balloon rate 4.875% *       
5 year BASE fixed/balloon rate 5.250%*      
10 year BASE fixed/balloon rate 5.875% (+1/2pt)*      
15 year BASE fixed/balloon rate 6.750% (+1pt)*      

Construction Loans 

1-4 Family Owner Occupied 4.750%*

 

*All Rates May Vary Based on Credit Score and/or Other Information

 *Rates Are Subject to Change Without Notice

 

 

Auto Loans

 

2015-2018 Model Years "NEW" 12-48 MOS 63 MOS 72 MOS
Credit Score:  700 + 4.00% 4.375% 4.875%
660 - 699 5.00% 5.375% 6.50%
620 - 659 9.125% 9.375% 12.50%
580 - 619 14.25% 15.75% 17.99%
 
2011-2014 Model Years "USED" 12-36 Mos 48 Mos 63 Mos
Credit Score:  700 + 4.25% 4.75% 5.25%
660-699 6.125% 6.75% 7.50%
620-659 9.625% 10.375% 12.375%
580-619 14.625% 16.625% 18.00%

2010 & Older

"OLD"

12-36 MOS 48 MOS
Credit Score: 700 + 4.99% 5.99%
660-699 7.625% 9.125%
620-659 9.625% 12.625%
580-619 14.625% 18.00%

 

*ATV, Motorcycle, RVs, Boats, etc - Add 2% to vehicle rates

*All Rates May Vary Based Credit Score and/or Other Information

*Rates Are Subject to Change Without Notice

 

Commercial Loans, AG Loans, & All Other Loans

- Contact a Loan Officer at your Local Branch for current rates

 

Loan Applications  

   To print off a loan application just click on the link below for the loan you want.

Consumer Loan App

Home Loan Application

Meet Our Loan Officers

Todd Gober

Todd Gober

CEO/President
NMLS# 613390
tgober@firstfederalmascoutah.com
618-566-2343
Mascoutah

John Enzwiler

John Enzwiler

Senior Vice President
NMLS# 698734
jenzwiler@firstfederalmascoutah.com
618-566-2343
Mascoutah

Michael Siegel

Michael Siegel

Senior Vice President
NMLS# 613393
msiegel@firstfederalmascoutah.com
618-566-2343
Mascoutah

Jarrod Capps

Jarrod Capps

Loan Officer/Branch Manager/IT
NMLS# 1521188
jcapps@firstfederalmascoutah.com
618-537-6779
Lebanon

 

 

 

 

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