Loan Options
Fixed Rate Mortgage
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Looking for a reliable and predictable mortgage payment?
A fixed-rate mortgage might be the right choice for you. Whether you're interested in a 15- or 30-year mortgage, this type of loan offers a fixed interest rate and steady monthly principal and interest payments throughout the loan term.
With a fixed-rate mortgage, you avoid fluctuations in interest rates and budget confidently for the future.
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Adjustable Rate Mortgage (ARM)
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Need an adjustable interest rate?
An ARM loan offers a fixed rate and payment for a specified duration, followed by an adjustable interest rate and payment for the remaining loan term.
This can be an advantage over a fixed rate mortgage if you plan to move or refinance before the adjustment period ends.
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Jumbo Loans
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Looking for a sizeable mortgage loan?
FSB provides jumbo mortgage loans with adjustable terms to help fulfill your distinctive financing needs.
If your loan amount exceeds $726,200, a jumbo loan is the answer.
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Construction Loans
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Looking to build your dream home?
FSB offers short-term financing with interest-only payments to help make your construction process a breeze.
We'll disburse funds directly to the builder/contractors upon your approval of the bills, so you can focus on creating your ideal living space.
Once your home is completed, we will provide seamless transition into fixed financing.
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Customizable Home Loans
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Looking for more flexibility when financing your property?
Our in-house loans could be the solution you need. We offer this type of loan to accommodate unique situations and properties that may not fit the requirements of traditional loan programs.
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How Much Can I Afford?
Are you currently pondering how much house you can afford? If so, we invite you to try our mortgage calculator to gain valuable insights into your financial capabilities. Our mortgage calculators can help you estimate how much you can borrow, calculate monthly payments, and compare different mortgage options. So take advantage of this powerful tool and better understand your financial situation.
Mortgage Calculators
Government Loans
Federal Housing Administration (FHA)/Veteran Affairs (VA)
The Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) government-insured fixed-rate mortgages provide lower down payment requirements and flexible credit and income guidelines, making them excellent options for affordable home financing.
FHA Loan Features
- Down payments as low as 3.5%
- Gift money is acceptable for a 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
We offer a variety of loan terms to choose from, including 15- and 30-year fixed-rate mortgages.
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Rural Housing (USDA)
Capitalize on the benefits of a Rural Housing Loan (USDA), which helps 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
Must be 18 or older to apply. All loans are subject to credit approval.
First-Time Homebuyer Programs:
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If you're a first-time homebuyer, FSB offers several programs to help you achieve your dream of homeownership.
IFA FirstHome
This loan makes buying your first home more affordable. With this program, you could receive up to $5,000 in down payment and closing cost assistance, and have access to competitive interest rates.
IFA Homes for Iowans
Specifically designed for Iowa residents who are first-time homebuyers or who haven't owned a home in the last three years, this program offers a lower interest rate and down payment assistance to qualifying applicants.
HomeReady
HomeReady is a flexible and affordable option for first-time homebuyers with low-to-moderate income. This program allows for a low down payment and offers reduced private mortgage insurance premiums.
Our experienced lenders will help you determine which program is right for you based on your unique situation and needs.
Learn More About Available Grants Upcoming FTHB Seminars
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Ready to get the process started?
When applying for a mortgage, you'll need:
- Two most recent bank statements (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 the last two years (personal and business)
Apply Now Meet Our Mortgage Lenders Get Today's Mortgage Rates Contact an FSB Mortgage Lender
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