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Why FSB? | FSB Loan OptionsGovernment LoansFirst-Time HomebuyersGrant InformationMeet Your LenderToday's Mortgage Rates | What You'll NeedApply Now

Why FSB?

Whether you are buying your first home, your dream home, or are looking to refinance your existing home, our experienced lenders will be with you from application to move-in day.

We are known for our personal and local service, so you can meet with your lender and know that your loan is processed here. With over 40 years of experience in mortgage lending, we think you’ll find our lenders and our loan solutions to be just what you need.

 Our lenders will:

  • Help determine the size of loan you can afford
  • Assist you with your loan application
  • Answer your questions and provide advice

Get pre-qualified today!

Loan Options

Fixed Rate Mortgage

Fixed Rate Mortgage

A fixed rate mortgage is ideal for those who plan to stay in their home for many years to come. This loan provides a consistent, fixed interest rate, and monthly principal and interest payment over the course of the loan, and is available in a variety of loan terms.

Adjustable Rate Mortgage (ARM)

Adjustable Rate Mortgage

ARM loans feature a fixed rate and payment for a set period of time. Once the initial interest rate term has ended, the payment could adjust for the remaining term of the loan. Advantages may include a lower initial interest rate and payment compared to a fixed rate mortgage.

Jumbo Loans

Jumbo Loans

If your loan amount is more than $453,100, a jumbo loan is an excellent option. With flexible loan terms, we'll personalize this loan to meet your current needs.


Construction Loans

Construction Loans

If you’re building a home, we provide short-term financing with interest-only payments. FSB will disburse the funds to the builder/contractors after you’ve approved the bills. Once your home is completed, it is a smooth transition into permanent financing.

Customizable Home Loans

Customizable Home Loans

In-house loans provide additional flexibility for unique situations and properties.


Government Loans

Federal Housing Administration (FHA)/Veteran Affairs (VA)

Enjoy lower down payment requirements and flexible credit and income guidelines with the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) government-insured fixed rate mortgages.

FHA Loan Features
  • Down payments as low as 3.5%
  • Gift money is acceptable for down payment
  • Lower monthly mortgage insurance
  • No maximum income/earning limitations
  • Flexibility with less than perfect/limited credit
VA Loan Features
  • No down payment required
  • Flexible underwriting guidelines
  • No monthly mortgage insurance
  • 100% cash out refinance
  • Subject to Veteran (and surviving spouse) eligibility
VA Loans couple


Rural Housing (USDA)

Capitalize on the benefits of a Rural Housing Loan (USDA) which are designed to help borrowers in qualifying rural areas become homeowners.

USDA Loan Features
  • No down payment required
  • Must be in a USDA eligible location
  • Subject to income guidelines
  • Low monthly mortgage insurance
  • Not limited to first-time homebuyers


Iowa Finance Authority Home Loans (IFA)

The Iowa Finance Authority (IFA) has touched the lives of countless Iowans through its 40-year history by offering affordable housing and down payment assistance to qualified buyers.

IFA Loan Features
  • Not limited to first-time homebuyers
  • Subject to income guidelines
  • Low or no monthly mortgage insurance
  • Grant money available
  • 640 minimum credit score

Apply Now Meet Your LenderCall or Stop In

Must be 18 or older to apply. All loans are subject to credit approval.

First-Time Homebuyer Programs:

If you haven’t owned a home in the last three years, you are considered a first-time homebuyer.

FSB First-Time Homebuyer programs include:

  • IFA FirstHome
  • IFA Homes for Iowans
  • HomeReady

Your lender will help you decide which program is right for you.

Besides the above programs which are designed specifically for first-time homebuyers, we also offer loans with no money down. In addition, we have grant money available to qualified homebuyers – either a $2,500 IFA grant or a $5,000 military homeownership grant for veterans. Don't worry, FSB's got you covered!

Learn More About Available Grants How Much Can You Afford


Mortgages Family at Dinner Table

Ready to get the process started?

You'll Need: 

  • Bank statements for prior two months (checking, savings, investments, 401(k), etc.)
  • Proof of income (most recent pay stub covering a minimum of 30 days, retirement statements or award letters, contract for employment, etc.)
  • W2 or 1099 and complete signed tax returns for previous two years (personal and business)

Apply Now
Meet Our Mortgage Lenders
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Want more information?

Call us at 319-730-6990 or fill out your contact information and we'll reach out to you.

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