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Products and Services - Home Loans

Home Loans

 

You have Dreams, We have Money.

Whether you're purchasing a new home
or refinancing your existing mortgage,

We have programs for fixed and adjustable-rate mortgages, lot and construction financing and jumbo mortgages

And we don't sell your loan

When you borrow from First Shore Federal, your loan stays here. Since 1953, our mission has been to serve the residents of the Lower Eastern Shore by offering competitive loan products. That commitment doesn't stop when you settle on your new home loan.

  • Make your payment easily by mail, electronically or in person at one of our convenient branch locations
  • When you have a question, we are just a local phone call away

So if you're considering a new home loan, call us, we're here for you!

For current rates and terms, click here

Fixed Rate Loans

Offers the security of a fixed payment throughout the loan term

  • 10, 15, 20 and 30 year terms available
  • Choose a shorter term - pay less interest and build equity faster
  • No application fee
  • No penalty for prepayment of the loan

Adjustable Rate Loans

Our loans feature interest rate caps that protect the homeowner from unanticipated payment changes

  • Lower initial rate and payment than most fixed rate loans
  • Great option if you plan to sell your home or refinance within 10 years
  • Initial fixed interest rate periods available for 1, 3, 5 or 10 years
  • 15 and 30 year loan terms available
  • Choose a shorter term - pay less interest and build equity faster
  • No application fee
  • No penalty for prepayment of the loan

Lot Loans

Not ready to build, consider a lot loan to purchase the lot of your dreams

  • Initial fixed interest rate for 1, 3 or 5 years
  • 20 year term available
  • Additional down payment options available for platted subdivisions
  • No application fee
  • No penalty for prepayment of the loan

Construction Loans

A short-term loan where funds are disbursed during construction

  • Construction to Permanent loans available
  • Pay interest only on the funds disbursed during the construction period

Manufactured Home and Land Loans

We offer single and double wide manufactured home (also known as mobile homes) and land financing

  • Fixed and Adjustable rate loans available
  • No application fee
  • No penalty for prepayment of the loan

Manufactured Home Only Loans

We finance manufactured homes in parks or on private property

  • Fixed rate loans available on new and used manufactured homes (also known as mobile homes)
  • No application fee
  • No penalty for prepayment of the loan

Investment Loans

  • Initial fixed interest rate for 1 year or 3 years
  • 30 year term available

Commercial Real Estate Loans

  • Customized loans available, please call for information

If you would like to receive additional information about these loans or any services offered at First Shore Federal, please write to us at: PO Box 4248, Salisbury MD 21803-4248 or send us an e-mail.  Or feel free to visit any of our convenient branch locations.

Click here to view our loan officer Nationwide Mortgage Loan System registration identification information.

 

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First Shore Federal | 106 S. Division St., Salisbury MD 21801 | 410-546-1101
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