The Federal Savings Bank Mortgage Refinance
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| 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
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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
Contact
- Headquarters
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300 North Elizabeth Street,
Suite 3E
Chicago, IL 60607 USA - (877) 788-3520
- Visit Site
- Email Support
Other Services by The Federal Savings Bank
Availability
- 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 |
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| Immigration Status Considered |
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| Intended Use |
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| Joint Loan Applications Accepted |
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| Military Status |
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The Federal Savings Bank Mortgage Refinance Community Reviews
Would you recommend The Federal Savings Bank Mortgage Refinance to your friends?
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