SuperMoney
  The Federal Savings Bank Mortgage Refinance
The Federal Savings Bank Mortgage Refinance
in Mortgage Refinance from The Federal Savings Bank · NMLS ID #411500
Unaffiliated

The Federal Savings Bank Mortgage Refinance

Unaffiliated
in Mortgage Refinance from The Federal Savings Bank · NMLS ID #411500
SuperMoney Net Recommendation Score +71  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +71, equating to 4.4 on a 5 point rating scale.

+71

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

6 users recommend
0 users are unsure
1 user doesn't recommend
Explore a similar product
Try this top product in Mortgage Refinance.
New American Funding Mortgage Refinance
New American Funding Mortgage Refinance 43 reviews
Highlights
Community Rating Strongly recommended
Loan Amount Up to $3,000,000
Loan Term (Years) 15 - 30 years
Number of Reviews 7

The Federal Savings Bank Mortgage Refinance Review

The Federal Savings Bank Mortgage Refinance is offered by The Federal Savings Bank (NMLS #411500), a bank founded in 2011 and based in Chicago, IL. The Federal Savings Bank Mortgage Refinance is available in 50 states (and Washington, DC).

Key Takeaways

  • 4 different mortgage programs offered. The Federal Savings Bank Mortgage Refinance refinances FHA, FHA 203k, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Non-standard interest rates available. The Federal Savings Bank Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for The Federal Savings Bank Mortgage Refinance.

The Federal Savings Bank Mortgage Refinance Pros & Cons

Pros Cons
  • Available in all 50 states.
  • Charges an origination fee.
  • Charges prepayment fees.

The Federal Savings Bank Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Federal savings Bank mortgage?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. The Federal Savings Bank Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.

How long does Federal savings Bank mortgage take to refinance?

Generally, it takes Federal savings Bank mortgage around day to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.

Does Federal savings Bank mortgage charge a mortgage origination fee?

Yes, The Federal Savings Bank Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Federal savings Bank mortgage offer?

The Federal Savings Bank Mortgage Refinance 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%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • 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 Federal savings Bank mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. The Federal Savings Bank Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Other Services by The Federal Savings Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Loan Term 15 - 30 years
Loan Amount Up to $3,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • VA

The Federal Savings Bank Mortgage Refinance Community Reviews

 

Would you recommend The Federal Savings Bank Mortgage Refinance to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +71, equating to 4.4 on a 5 point rating scale.

+71

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

sorted by

Other Mortgage Refinance