First Federal -- Loan Rates & Programs

Loan Rates & Programs

Loan Rates and Terms
Effective October 30, 2008

Rates and terms are subject to change without notice.

Please note: First Federal mortgage loans are only available for properties located in the Northwest Indiana area.

*Annual Percentage Rate (APR) is based on an 80% Loan-To-Value mortgage loan of $100,000

OWNER-OCCUPIED

Fixed Rate Mortgages

Term Rate / (APR*) Points

5 Year
5.375% / (5.498%)
4.750% / (5.489%) 0.000%
1.500%

10 Year
5.500% / (5.566%)
5.125% / (5.519%) 0.000%
1.500%

15 Year
5.875% / (5.922%)
5.625% / (5.906%) 0.000%
1.500%

20 Year
6.250% / (6.288%)
6.000% / (6.226%) 0.000%
1.500%

30 Year**
6.375% / (6.404%)
6.125% / (6.300%) 0.000%
1.500%

**PAYMENT EXAMPLE: A $100,000, 30- Year Mortgage, @ 6.375%, will result in a monthly Principal & Interest payment of $623.87

*Annual Percentage Rate (APR) is based on an 70% Loan-To-Value mortgage loan of $100,000

NON OWNER-OCCUPIED
Fixed Rate Mortgages

Term Rate / (APR*) Points

5 Year 7.000%   / (7.544%) 1.000%

10 Year 7.125%   / (7.420%) 1.000%

15 Year 7.125% / (7.337%) 1.000%

20 Year 7.375% /   (7.547%) 1.000%

30 Year** 7.500% / (7.634%) 1.000%

**PAYMENT EXAMPLE: A $100,000, 30- Year Mortgage, @ 7.500%, will result in a monthly Principal & Interest payment of $699.21

OWNER-OCCUPIED
Adjustable Rate Mortgages

Term Program Rate / (APR*) Points

15 Year
30 Year 1/1
1/1 4.250% / (4.295%)
4.250% / (4.275%) 0.000%
0.000%

15 Year
30 Year 3/1
3/1 5.000% / (5.046%)
5.000% / (5.027%) 0.000%
0.000%

15 Year
30 Year 5/1
5/1 6.250% / (6.298%) 6.250% / (6.279%) 0.000%
0.000%

15 Year
30 Year 7/1
7/1 7.000% / (7.049%)
7.000% / (7.030%) 0.000%
0.000%

Interest Rate adjustments are based on:
1-Year Treasury Bill Index, Plus 2.75% Margin
Caps: 2.00% Annual ... ... ...6.00% Term of Loan
Floor .... Initial Rate
*Annual Percentage Rate (APR) is based on an 80% Loan-To-Value mortgage loan of $100,000

NON OWNER-OCCUPIED
Adjustable Rate Mortgages

Term Program Rate / (APR*) Points

15 Year 1/1 7.250% / (7.462%) 1.000%

15 Year 3/1 7.375% / (7.588%) 1.000%

15 Year 5/1 7.750% / (7.966%)   1.000%

Interest Rate adjustments are based on:
1-Year Treasury Bill Index, Plus 2.75% Margin
Caps: 2.00% Annual ... ... ...6.00% Term of Loan
Floor .... Initial Rate
*Annual Percentage Rate (APR) is based on an 70% Loan-To-Value mortgage loan of $100,000

Owner Occupied Terms*

5% Downpayment
*PMI (Private Mortgage Insurance) Required

First Mortgage Non-Owner Occupied Terms**

                             30%
Downpayment

JUMBO MORTGAGES ($300,700 and over)

Owner Occupied Mortgage - Same as Interest Rates Posted Above

Non Owner Occupied Mortgage - Same as Interest Rates Posted Above

Construction Loans

*Call For Information

OWNER-OCCUPIED
HOME EQUITY LOANS

Fixed Rate, Fixed Payment (minimum $5,000 loan)

3-YEAR PROGRAM

5-YEAR PROGRAM

7-YEAR PROGRAM

10-YEAR PROGRAM

PAYMENT EXAMPLE:

A $10,000, 5-year Equity Loan, @ 5.250% will result in a monthly Principal & Interest payment of   $189.86

5.000% APR

5.250% APR

6.000% APR

6.750% APR

NON OWNER-OCCUPIED
HOME EQUITY LOANS

Fixed Rate, Fixed Payment

(Minimum $20,000 Loan)

3-YEAR PROGRAM

5-YEAR PROGRAM

PAYMENT EXAMPLE:

A $20,000, 5-year Equity Loan, @ 7.750% will result in a monthly Principal & Interest payment of   $403.14

7.375% APR

7.750% APR

Owner-Occupied Home Equity Line of Credit - Adjustable Rate (minimum $5,000 loan)

LINES OF CREDIT OPENED AT:

$50,000 & OVER    Wall Street Prime Rate LESS .25%

      Below $50,000         Wall Street Prime Rate

(the Prime Rate on October 30, 2008 is 4.00%)
Monthly Payments: 1.5% of Balance

NON-OWNER HOME EQUITY LINES OF CREDIT:       ADJUSTABLE RATE AT PRIME + 2.00%

The above information is only intended for general comparison and not all-inclusive of fees or requirements.   For additional information and requirements or to schedule an appointment, call Monique Reyna or Alicia Wallace in our Mortgage Loan Department at (219) 838-9101 or stop in at 9030 Cline Avenue, Highland, Indiana 46322

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