Where does The Federal Savings Bank do business?
The Federal Savings Bank is based in Chicago, IL. The company was founded in 2011 and offers mortgages to borrowers in 50 states (and Washington, DC).
How much can you borrow via The Federal Savings Bank?
The Federal Savings Bank allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What range of rates does The Federal Savings Bank offer?
The Federal Savings Bank offers home loans with APRs starting at 4% .
Does The Federal Savings Bank charge a mortgage origination fee?
Yes, The Federal Savings Bank may charge a loan origination fee.
What mortgage programs does The Federal Savings Bank offer?
The Federal Savings Bank offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does The Federal Savings Bank allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. The Federal Savings Bank allows the following property usage types:
- Primary home
Other Services by The Federal Savings Bank
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia