A Barndominium is a great way to construct a home to match your lifestyle.

Features:

• Weight-bearing posts are located on the exterior, providing an open concept, customizable indoor living space
• Low maintenance exterior materials
• Ability to renovate or add square footage in the future
• Flow from living area to workshop without exposure to weather
• Higher wind resistance than traditional stick-built homes

It's preferred to have the following land and build information in hand before the initial conversation with our lending officer.

Land

• The date you acquired the land
• The amount you paid for the land, if any
• Your estimated market value of the land
• Your current loan balance, if any
• The number of acres

Build

• Square feet of finished living area, by level (main floor, 2nd floor, basement)
• Square feet of unfished area (garage/shop)
• Square feet of covered porch and/or portico

Typically, borrowers use:

• Cash
• Equity in the property upon which you plan to build your new home
• Equity in your current home

• First Federal Bank offers these unique permissions to borrowers:
• Borrower can serve as the General Contractor, except in the state of Texas.
• The General Contractor manages the entire build process and is responsible for all aspects of the build, including adherence to all laws and regulations
• Borrower may live on the property while building.
• All work must be performed by professionals who do the work for a living, except for finish work.
• Finish work generally means any work taking place after placing interior walls, like painting, laying floor tile, installing trim work or hanging cabinets and fixtures.