Home Loans

Contents:

Home Equity Fixed Rate Loans
Home Equity Lines of Credit
First Mortgages
Silver Mortgage - an alternative to reverse mortgages

Home Equity Fixed Rate Loan

Use a home equity loan for home improvements, a new car, vacation and more.
Fixed rate.
Fixed monthly payments.
Low interest rates.
Minimal closing costs - First Financial will pay for all closing costs up front on a new home equity fixed rate loan or line of credit when you use $10,000 of the loan immediately. (Free closing cost applicable on first $100,000 of loan amount or credit line; primary residences only. Payment of existing First Financial loans does not count towards $10,000)
Interest may be tax deductible.

Home Equity Lines of Credit

Use a home equity loan for home improvements, a new car, vacation and more.
Borrow up to 80% of the equity in your home.
Establish a reusable line of credit which may be used at any time.
Access your line of credit through your home equity line of credit, checkbook, Touch Tone Teller, your Visa card or ATM card.
Low interest rates and affordable repayment terms.
Minimal closing costs - First Financial will pay for all closing costs up front on a new home equity fixed rate loan or line of credit when you use $10,000 of the loan immediately. (Free closing cost applicable on first $100,000 of loan amount or credit line; primary residences only. Payment of existing First Financial loans does not count towards $10,000).
Interest may be tax deductible.

First Mortgages & Refinancing

Whether you're buying or refinancing, First Financial's first mortgage program was designed with homeowners' needs in mind. Our Mortgage Department will work with you to ensure that your application process is fast, painless and trouble-free.

Fixed Rate Loan Programs

Features and benefits include:

Free, no obligation pre-qualification interviews;
Low fixed rates;
Terms up to 30 years;
Conventional and balloon products available;
Down payments as low as 5%;
Low settlement costs.

Adjustable Rate Programs

Features and benefits include:

Free, no obligation pre-qualification interviews;
Low introductory rates;
Terms up to 30 years;
Built in conversion feature;
1% cap per year, 4% maximum cap over life of loan;
Down payments as low as 5%;
Low settlement costs.

Silver Mortgage Program

First Financial’s Silver Mortgage is a low cost alternative to a reverse mortgage but with many of the same benefits and features you typically find in that type of product. The most important factor in choosing a mortgage product such as this is determining whether it’s the right fit for your lifestyle and your financial goals.

Our Silver Mortgage program is designed for individuals, age 59 ½ or older, who have valuable equity in their homes but are in need of greater cash flow to meet their needs. Our Silver Mortgage program allows you to advance funds from the equity in your home without having to make a monthly payment. The balance would be due in full once you are no longer using the home as your primary residence. The rates on our Silver Mortgage loans are extremely competitive; just Prime + ½% with a floor of 5.5% APR* and a maximum rate of only 7.9% APR*. Plus, you’ll find our closing cost to be substantially lower than our competitors.

Do your homework and compare our program to similar offerings in the marketplace; it will be easy to see the advantages of the Silver Mortgage. To find out more information and whether it’s the right fit for your financial future, contact our Mortgage Specialist at 410-321-6060, Option 4.

*APR means annual percentage rate; rates quoted are for qualified members.

For a loan projection, try our Loan Calculators or for more information contact First Financial's main office at 410-321-6060 ext. 773 or any branch office.

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The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.

First Financial Federal Credit Union of Maryland is an equal housing lender. We do business in accordance with the Fair Housing Act and the Equal Credit Opportunity Act.