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.
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)
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.
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.
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
In-house loans provide additional flexibility for unique situations and properties.
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
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.
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 Homes for Iowans
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!