Rates

Earn more, save more. That's what it comes down to with First Federal Bank's rates on savings accounts, mortgages and loans.

See how our rates are structured to improve your financial well-being.

Certificates of Deposit

Product Name Minimum to Open Interest Rate/APY  
48 Month3 $500.00 1.36 / 1.37%
60 Month3 $500.00 1.74 / 1.75%
42 Month Online Only Special2 $5,000 1.46 / 1.47%

1 Annual Percentage Yield (APY) is accurate as of January 1, 2016.The certificate of deposit has a fixed rate until maturity. $500.00 minimum to open and earn the disclosed APY. APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. A penalty will be imposed for early withdrawal. The account will automatically renew at maturity to a 48 month term and at the APY in effect at the time of renewal.

2 Annual Percentage Yield (APY) is accurate as of January1, 2016.The certificates of deposit has a fixed rate until maturity. $5,000.00 minimum to open and earn the disclosed APY. APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. A penalty will be imposed for early withdrawal. The accounts will automatically renew at maturity to a 60 month term and at the APY in effect at the time of renewal.

Mortgage Rates

Here are loan programs we offer. These programs are unique to First Federal Bank of the Midwest. To learn more about these programs and many others, call us at (877) 367-8178.

Program NameRatePointsAPRPayment
30 Year Fixed (Conforming)4.125%0.75%4.260%$484.65
20 Year Fixed (Conforming)3.750%0.75%3.933%$592.89
15 Year Fixed (Conforming)3.250%0.00%3.369%$702.67
10 Year Fixed (Conforming)3.125%0.00%3.296%$971.39
USDA 100 (USDA-RHS)4.000%1.00%4.406%$477.42

Mortgage rates are updated daily and are based on a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual credit score. Your loan's interest rate will depend on the specific characteristics of your loan transaction and your credit profile up to the time of closing. 

The estimated monthly payments above are calculated based on the loan amount entered by you and are for principal and interest only. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Mortgage Insurance may be required for loans that have less than a 20% down payment, which will increase the Annual Percentage Rate (APR) and result in a higher loan payment. While actual loan terms may be different as prepaid finance charges and closing costs vary by location, the APRs listed above are based on the following assumptions: 

  • FICO score of 720
  • The purchase of a single family, primary residence 
  • Loan amount of $100,000 
  • Down payment of 20% for conforming loans; 0% for USDA 100 (other down payment options are available) 
  • Points disclosed 
  • Payment of certain customary fees at loan closing 

All loans are subject to credit approval and receipt of a property appraisal demonstrating sufficient value. Interest rates and fees are subject to change without notice. First Federal Bank offers many different mortgage products; your APR may vary depending on the product for which you apply.