Building a Home

Our Construction to Permanent Loans are here to help.

A new build involves a lot of options and decisions – not only about your home’s physical features, but its financing, too. Making the right choices early on will get things off to a strong start. The team at First Federal Lakewood has the experience to make it easier. We’ll work with you every step of the way to deliver the best solution for your unique situation. We offer a wide range of sound financial products and the friendly, personalized service you expect from a community-focused bank like ours.

Features of our Construction-to-Permanent Loan

• Put as little as 5 percent down 
• Available as a fixed or adjustable rate loan with competitive loan rates
• Provides a one-time closing date with only one set of closing costs 

Quick tips for financing your new build.

• Work with a Mortgage Loan Originator who specializes in construction lending
• Get pre-qualified for a new construction loan – this tells a builder you’re a serious buyer, not just a shopper
• Ask your builder for a detailed break out of the final home cost so you can accurately compare loans
• Consider a construction-to-permanent loan to make it more affordable to stay in your current home while your new one is being built