Have a Home and Want to Use the Equity?
Your locally owned, community bank offers second mortgages, home equity loans, and home equity lines of credit. Make a big purchase or complete home improvement projects with your home's equity. We have been financing dreams in our communities since 1891.
- First Federal offers second mortgages, home equity loans, and home equity lines of credit.
- We will lend to you whether your first mortgage is with First Federal Bank of Ohio or another bank.
- Competitive rates.
- Work with local lenders with multiple years of experience. We strive to give you the right loan for your situation.
- We service your loans right here at your local bank.
- Fixed Rate Home Equity Loan
- Available in installment terms of 5 or 10 years.
- This is a good option if you need all the money immediately.
- Home Equity Line of Credit (HELOC)
- Combined 10 year draw and repayment period with monthly payment based on outstanding balance.
- Accessible by writing checks against credit line or through account transfers.
- This is a good option for ongoing borrowing needs.
- Available only for a primary residence.
- We loan up to 80% of your home's value.
- Income verification.
- Qualifying credit.