Questions? Contact Our Mortgage Lending Department at (812) 492-8142.
Browse Our Mortgage Options
Whether you need to refinance your current loan, are looking to buy your first home, or want to acquire an investment property, First Federal Savings Bank provides a variety of mortgage solutions to fit your financial goals.
Conventional Fixed-Rate
Our Conventional Fixed Rate loan program is designed to offer stability and predictability for your mortgage needs. With competitive rates and flexible terms, this program provides a reliable solution for purchasing a home or refinancing to a lower interest rate. The monthly principal and interest payment remain fixed during the entire term. With as little as 3%1 down, choose from a variety of loan terms ranging from 10 to 30 years to fit your financial goals and budget.
Millennia Mortgage
Enjoy the convenience of financing up to 100%1 of your home’s purchase price, making homeownership more accessible, especially for those with limited savings for a down payment. Eligibility isn’t restricted to first-time homebuyers or millennials; anyone can benefit from this opportunity.
80-10-10
Want to avoid paying PMI but don’t have 20% down? The 80-10-10 structure allows you to finance 80% of the home’s purchase price with a first mortgage, 10% with a second mortgage, and make a low down payment. By splitting the loan into two parts, you can avoid the requirement for private mortgage insurance (PMI), potentially saving you money on monthly payments.
FHA
FHA loans are mortgages backed by the Federal Housing Administration (FHA), a government agency within the U.S. Department of Housing and Urban Development (HUD). These loans are designed to make homeownership more accessible to a larger range of borrowers, particularly those with lower credit scores or smaller down payments.
VA
Our VA loan program offers exclusive advantages for our military community. It is designed for veterans, active-duty service members, and eligible surviving spouses. VA loans offer the benefit of no down payment and no private mortgage insurance. We are committed to serving those who have served us.
USDA
The USDA mortgage loan program is designed to help individuals and families in rural areas achieve their dreams of homeownership. This program offers 100% financing. USDA loans can be used to purchase properties located in eligible rural areas designed by the U.S. Department of Agriculture.
Construction
Ready to build the home of your dreams? Our Construction loan program offers the financing solutions you need to bring your vision to life. With our one-time close, you only pay interest and escrow (if applicable) during the construction period. After your home is completed and all construction funds are disbursed, the loan converts to a permanent loan with regularly scheduled payments of principal, interest, and escrow (if applicable).
Jumbo
Our Jumbo loan program offers financing solutions for properties that exceed the conforming loan limits set by government-sponsored entities, allowing you to secure financing for luxury homes or properties in high-cost areas. A Jumbo loan can be used for the purchase, refinance or construction of a single family, owner occupied home.
Lot
Have you found the perfect location in a subdivision3 but not ready to build just yet? With a little as 25% down, our Lot loan program is designed to help you finance the lot purchase for your future home or investment. This program has a 20-year amortization with a 5-year balloon.
First-Time Homebuyer
Our first-time homebuyer program is designed to assist individuals or families taking their first steps into homeownership.2 This program requires as little as a 3%1 down.
Land
Have you found the perfect piece of land but not ready to build just yet? Our Land loan program is designed to help you acquire the perfect parcel of land4 for your future plans. This program requires as little as 35% down payment and a 15-year term.
Medical Professional
Whether you’re a newly licensed physician or a seasoned healthcare professional5, our Medical Professional home loan program is designed to help you achieve your homeownership goals with ease and confidence. We offer up to 90% financing6 of your home’s purchase price and no PMI which saves you money on your monthly payments.
Turn-Key
Our Turn-Key program is designed to simplify the homebuying process and provide you with a seamless experience. With this program, buyers purchase a newly constructed, finished home that is ready to live in immediately from the builder. The interest rate is locked at executed construction contract.
Bridge Loan
Our Bridge Loan is a short-term Home Equity Line of Credit (HELOC) designed exclusively to help you “bridge” the financial gap between selling your current home and purchasing your new one. This convenient solution provides the flexibility and access to funds you need during your transition.
APR may vary. All loans are subject to credit approval
1Private mortgage insurance is required for loans exceeding 80% loan-to-value
2PMI and completion of first-time homebuyer course are required
3Platted subdivisions only
4Non-platted property
5Limited to borrowers who hold the title of MD, an MD equivalent, Nurse Practitioner, Physician Assistant, or Certified Registered Nurse Anesthetist. Other professions that fall into an equivalent category include Doctor of Osteopathic Medicine (DO), Chiropractors, Dentists, Pharmacists, and Veterinarians. Examples of MDs or DOs can include, but are not limited to, Anesthesiologists, Psychologists, Psychiatrists, Optometrists (OD), Ophthalmologists, and numerous others.
6Up to $1,000,000 loan amount
Flexible Financing for All of Life’s Needs
Whether you’re planning a major purchase, consolidating debt, or covering unexpected expenses, First Federal Savings Bank is here to help. Learn more about our consumer lending solutions and how we can assist you in achieving your financial goals.
Learn More About Our Home Equity Products
Leverage the equity in your home to finance home improvements, consolidate debt, or cover other major expenses. With our home equity loans, you can access the funds you need with competitive rates and flexible repayment options.
Loan Servicing
Loan Servicing is available between 8:00 am and 5:00 pm CST Monday through Friday (excluding bank holidays) to assist with the following requests:
- Payments by phone
- Insurance questions
- Property tax assistance
- Escrow inquiries
- Loan history requests
- Construction loan support
Please call (812) 492-8125 or contact us utilizing our email address at LoanServicing@fbei.net.
If you are experiencing difficulties in keeping your loan payments current, please contact our Collection Specialists at (812) 492-8127 or Collections@fbei.net.
