Holiday Closing: All First Federal Savings Bank branches will be closed May 29 in observance of Memorial Day and will reopen May 30 for regular business hours. ATMs and mobile banking will be available 24/7.

Home Equity

Pexels blue bird 7218020

Unlock the equity in your home.

Have equity in your home? Need funds for home renovations, debt consolidation or even to prepare for unexpected expenses? A home equity line of credit from First Federal Savings Bank may be just what you're looking for!

Home Equity FAQs

What is a home equity line of credit?

A HELOC (home equity line of credit) is a revolving line of credit, much like a credit card. In the case of a HELOC you are borrowing against the available equity in your home and your house is used as collateral for the line of credit. You can borrow as much as you need, at any time you need it, up to an approved limit. As you repay your outstanding balance, the amount of available credit is replenished.

How do you qualify for a HELOC?

Typically to qualify for a home equity line of credit, you need to have available equity in your home, meaning that you owe less on your home than it is worth. Our lending team will also review your credit score and other information similar to when you applied for your mortgage.

How do I get started?

Reach out to one of our mortgage lenders today and they can discuss your options with you!

Contact a Mortgage Lender

Whether you have more questions or want to get the process started, contact one of our team members to tap into your home equity!

Mortgage Team