First Federal Bank Mortgage Review 2025
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Our Take
5.0
First Federal Bank stands out for its exceptionally low interest rates, as well as its emphasis on government loans – these made up half of the lender’s originations last year. First Federal also offers closing cost assistance to first-time home buyers in qualifying areas. Most likely to appeal to borrowers shopping for low rates and fees.
Pros
- Strong experience in FHA and VA lending.
- Average mortgage rates are on the low side, according to the latest federal data.
- Minimum credit score requirement of 580 for some loans, which is lower than some competitors.
Cons
- No mobile app.
- Home equity lending is not a priority.
- Does not offer renovation loans, but does offer construction loans.
Lender | Max. loan amount | Max LTV | Min. credit score | |
|---|---|---|---|---|
 Visit Lenderat Figure at Figure | $750,000 | 85% | 600 | Visit Lenderat Figure at Figure |
 5.0 Visit Lenderat Achieve at Achieve | $300,000 | 85% | 600 | Visit Lenderat Achieve at Achieve |
 4.0 Visit Lenderat Upstart Mortgage LLC at Upstart Mortgage LLC | $250,000 | 95% | 600 | Visit Lenderat Upstart Mortgage LLC at Upstart Mortgage LLC |
 Visit Lenderat New American Funding at New American Funding | $750,000 | 80% | 580 | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat NBKC at NBKC | $250,000 | 85% | 720 | Visit Lenderat NBKC at NBKC |
Full Review
At a glance: First Federal Bank mortgage options
First Federal Bank is a mid-sized bank based in Lake City, Florida. The lender is nationally licensed.
First Federal Bank offers most standard mortgage types, along with a few specialty loans. However, you won’t find renovation loans, and home equity products aren’t currently a lending priority.
🏠 Common mortgages
Conventional loans (fixed and adjustable)
Refinancing (rate-and-term, government-backed and energy efficient)
Jumbo loans
FHA loans
VA loans
🔑 Specialty loans
USDA loans
Mortgages for second homes
Loans for self-employed borrowers
Construction-to-permanent loans
💵 Home equity
• Cash-out refinance
» MORE: How to choose a mortgage lender
First Federal Bank special offers and discounts
First Federal Bank offers assistance for certain customers. One perk stood out in our research.
Closing cost assistance may be available to first-time home buyers who meet qualifications, including geographic requirements.
What home loans does First Federal Bank specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages First Federal Bank handles most often.
Conventional loans made up about half of First Federal Bank’s loan originations last year, followed by VA loans (29%) and FHA loans (20%).
How we score First Federal Bank mortgage
Each year, NerdWallet writers and editors dig into the latest data and independent research on mortgage lending. Then, we rate lenders based on categories that matter most to mortgage borrowers.
First Federal Bank has a NerdWallet home loans rating of five stars overall. Here’s a breakdown of this year’s score.
Category | Star rating |
|---|---|
Average mortgage rates and fees | |
Mortgage rate transparency | |
Variety of loan types | |
Customer experience | |
Overall star rating |
Ah, so you’re the “read the fine print” type? We got you. Here’s how our scoring rubric works.
Average mortgage rates and fees (30%)
We review federal data (as reported by the lenders) and analyze mortgage lenders’ average fees and interest rates across all loan types. Lenders with the lowest average costs get the highest star ratings. Keep in mind: Loans that are easier to qualify for, like FHA loans, usually have higher rates and fees because lenders see them as a higher risk. Pro tip: Paying some fees upfront can sometimes lower your interest rate.
Mortgage rate transparency (25%)
We look at how easy it is to compare mortgage rates online. Lenders get higher transparency ratings if they show sample rates on their website. (Not all lenders do!) The best ratings go to lenders that offer interactive tools that let you customize a rate quote on your own.
Variety of loan types (25%)
There’s no one-size-fits-all mortgage. Lenders earn top ratings in this category when they offer a large variety of mortgage types. The more variety, the higher their score. A lender earns points for purchase and refinance; fixed and adjustable rates; FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.
Customer experience (20%)
How easy is it to work with this lender? Top-rated lenders offer helpful features like online applications, multiple ways to get support, a user-friendly mobile app and clear updates about the loan closing timeline.
First Federal Bank bonus points and penalties
First Federal Bank earned bonus points for its first-time home buyer program, as well as for offering mortgages to customers with credit scores below 600.
First Federal Bank mortgage reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from Zillow and we contacted the lender’s customer support.
Zillow Mortgage Lender Customer Rating
4.75
out of 5
Average rating as of date of publication. Rating reflects more than 3,200 reviews.
First Federal Bank mortgage customer service options
Here’s how you can get in touch with First Federal Bank.
Ways to reach First Federal Bank
Physical branches . . . . . . ✅ Phone support . . . . . . . . . ✅ Mobile app . . . . . . . . . . . . 🚫 Online chat (bot) . . . . . . . 🚫 Online chat (human) . . . . 🚫
🤓 Our Nerds say… in-person services are not clear
Taylor Getler, lead writer, mortgages
Unlike many lenders today, First Federal Bank does not have a mobile app. The lender has a location finder on its website, but the only branch that surfaced is in Kansas. When we tried calling the lender’s customer service line, though, we were immediately connected with a live agent who was able to answer our questions.
» MORE: How to apply for a mortgage
Alternatives to a First Federal Bank mortgage
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
VA borrowers may want to check out Navy Federal Credit Union, while FHA borrowers may be a fit for Pennymac. These lenders won NerdWallet’s best-of awards in their respective categories in 2025.
Alternatively, borrowers who need a lender with flexible credit requirements may want to apply with Freedom Mortgage, which reported a minimum credit score of 500 for FHA borrowers.
» MORE: Best VA lenders
More from NerdWallet
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: average mortgage rates and origination fees, rate transparency to consumers, variety of loan types (purchase, refinance, fixed and adjustable, for example) and customer experience. Among the factors we consider in these categories are: options to apply for home loans online, typical time to close, mobile app experience, level of detail about mortgage rates on lender websites, and NerdWallet’s own analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These and other items inform detailed rubrics, which generate ratings from 1 star (poor) to 5 stars (excellent). Read more about how we rate mortgage lenders here.
