Swing Loans

Swing Loans are designed to assist homeowners in financing the purchase or construction of a new single-family, owner occupied home while still in the process of selling their existing home. A First Federal Swing Loan pays off your existing mortgage loan(s) and provides equity from your existing home to purchase or construct your new home all in one loan. This Swing Loan has no payments due until the end of the six month term or when the home is sold. Stop by the branch office nearest you or e-mail us us for more information about Swing Loans.

Major loan terms and conditions are:

• The maximum LTV is 80%
• The maximum loan amount is $200,000
• The loan term is six (6) months
• Principal and interest are due at the end of the six-month term
• The existing home must be listed for sale
• First Federal must finance the new home

Fixed | Adjustable | Construction | Swing | Lot | Jumbo
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