VA Loan Benefits

Those who serve or served our country deserve special treatment. The VA home loan does just that.


Discover the Benefits of VA Loans

We’re here to help with your home buying journey and explain what that means on VA loans. Here’s a quick guide on the VA loan benefits.

How Are VA Loans Different?

VA loans have the lowest average fixed interest rates on the market – typically 0.5 to 1 percent lower than conventional rates. Lower rates can save service members tens of thousands of dollars over the life of the loan. First Federal Bank takes that even further by often offering lower rates than competitors.

Building credit and saving cash can be challenging for service members on the move. A VA loan allows qualified borrowers to buy a home without putting down a lump-sum payment.

The VA provides insurance to lenders and resources for service members if the loan is in danger of default. The VA mortgage program works hard at getting and keeping military personnel in homes, even if financial setbacks arise.

The VA funding fee is part of the additional costs you may need to pay on a VA purchase loan or refinance. It’s unique to VA-backed or VA direct loans, but it helps ensure affordable homeownership for those who qualify for this type of financing.

The VAA IRRRL process is like any other type of refinance. It allows you to reduce the interest rate, cut monthly payments or tap into home equity. However, interest rate reduction loans can be completed significantly faster and more easily.

Daniel B

“I was confused on the VA loan process and Tom was patient with me to work through the process as it was my first time using the loan. I am happy at the end result and would love to work with Tom again in the future!”

Daniel B


FFB offers an online pre-approval process that can get you approved in a matter of minutes.

You cannot lock in a rate until your application is complete and you have gone through the necessary steps. Depending on the type of loan you get, the number of days the process will take can vary.

Depending on the terms of the letter, pre-approvals are good for 90 days. In the event that your home search needs change, please contact your individual mortgage lender directly for assistance.

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