Mortgage Loans in Eastern Iowa (Cedar Rapids, Marion, Iowa City, and more)

Mortgage Loans & Refinancing in Eastern Iowa

Start Your Mortgage or Refinance Journey

Buying a home is a big move. Whether you’re buying or refinancing, our local team makes it easier with quick answers, competitive rates, and a preapproval process that helps your offer stand out. You can apply1 online in as little as five minutes!

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What You Get with an FSB Mortgage:

 

Rates That Fit Your Budget

Get a mortgage with monthly payments that work for your financial plan.

 

Fast, Local Preapprovals1

Know where you stand quickly. Our team reviews everything right here in Iowa.

 

Help from Local Lenders

Talk to someone who knows what they’re doing and takes the time to help.

 

A Simple Online Application1

Apply anytime. We’ll follow up to discuss next steps and review your options.

Compare Mortgage Loan Options

Fixed-Rate Loans

Key Benefits: Fixed interest rates for the life of the loan. Terms up to 30 years.

Best For: Homebuyers who plan to stay long-term with solid credit.

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Must be 18 or older to apply. Loans subject to credit approval.

Adjustable-Rate Loans

Key Benefits: Lower initial fixed rate. Adjusts after intro period.

Best For: Buyers planning to move/refinance before the rate adjusts.

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Must be 18 or older to apply. Loans subject to credit approval.

Construction Loans

Key Benefits: Interest-only payments during build. Converts to permanent financing. Funds disbursed with your approval.

Best For: Building a new home with flexibility.

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FHA Loans

Key Benefits: As low as 3.5% down. Flexible qualification. 100% gift funds accepted.

Best For: Buyers with limited savings or lower credit scores.

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VA Loans

Key Benefits: Low or no down payment. No private mortgage insurance requirements. Flexible qualification requirements.

Best For: Veterans, active military, and eligible spouses.

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USDA Loans

Key Benefits: 100% financing. Flexible credit rules.

Best For: Buyers in USDA-eligible rural areas with limited down payment funds.

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IFA Loans

Key Benefits: 30-year fixed terms. Lower down payment. Gift funds allowed.

Best For: Eligible Iowa homebuyers with limited down payment.

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Getting Ready to Buy a Home?

Use this simple checklist to walk through the process and feel confident about your next step.

  • Are You Financially Ready?
  • Check Your Debt‑to‑Income
  • Plan Your Down Payment
  • Boost Your Credit Score
  • Determine What You Can Afford
  • Preparing Your Documents
  • Get Preapproved

Are You Financially Ready?

Buying a home is a big decision. Ask yourself:

  • Do you have a steady income?

  • Have you been consistent in paying bills and rent on time?

  • Can you afford the upfront costs of buying a house, such as the down payment and closing costs, without depleting your savings?

  • Would you be comfortable paying a monthly mortgage payment?

Answering these questions before searching for a home can help you prepare for the next step!

Check Your Debt‑to‑Income

Another key factor to consider is your debt-to-income (DTI) ratio. Lenders usually like this to be under 43%.

This ratio calculates how much of your monthly income goes towards paying debts.

For example, say you make $5,000 a month in gross income, and your debts take up $2,000; your DTI ratio would be 40% ($2,000 ÷ $5,000).

If your DTI is too high, consider paying down debt and avoiding new credit before applying.

Plan Your Down Payment

Ideally, 20% down. A 20% down payment helps you avoid private mortgage insurance (PMI), which keeps your monthly payment lower.

If putting a 20% down payment on a home is not feasible, there are loan programs that allow you to put down as little as 3%.

Remember, closing costs, moving expenses, and repairs all take cash too. Make sure your budget covers more than the sticker price.

Not sure what’s right for you? Submit a quick form and an FSB lender will follow up with you directly.

Boost Your Credit Score

Your credit score matters because it shows lenders how you make payments, manage credit, and handle debt. Most lenders require a minimum credit score of 580.

Here are a Few Strategies to Boost Your Credit Score:

  1. Make small purchases with your credit card while keeping usage at 30% or less of the credit limit

  2. Ask for a higher credit limit to lower overall utilization

  3. Don’t close your old credit cards; just don’t use them anymore

  4. Pay your bills on time and let any balance hit the statement first

Be patient; some credit blemishes can only be repaired with time.

Determine What You Can Afford

Determining how much home you can afford isn't only about the list price—it includes monthly costs, such as:

  • Principal & interest

  • Property taxes

  • Homeowner insurance

  • PMI (if your down payment was less than 20%)

Banks look at your debt-to-income ratio, ensuring any new monthly payment fits within the 43% DTI guideline.

Calculate Your Monthly Payment ->

Preparing Your Documents

To keep your mortgage application1 moving smoothly, gather these essential documents ahead of time:

✅ Bank Statements

  • Submit your two most recent statements from all checking and savings accounts.

✅ Proof of Income

  • Include recent pay stubs, Social Security, pension, or any other income verification.

✅ Tax Returns

  • Provide your last two years of federal tax returns along with your W2 or 1099 forms.

Having everything ready up front can help avoid delays and speed up the approval process.

Get Preapproved

Getting preapproved tells you how much you can afford and shows sellers you're serious. Fill out an application online in minutes—your local FSB mortgage team will review it with you.

Start Your Application ->

Must be 18 or older to apply. Loans subject to credit approval.

How to Get Started with an FSB Mortgage

1

Start Your Application1

Apply online or submit a quick form, and we'll be in touch to guide you through the process.

2

Get Preapproved

We’ll review your credit, income, and finances to determine how much home you can afford.

3

Shop for Homes

With your preapproval in hand, you’re ready to work with a realtor and make serious offers.

Buying a Home in Iowa? Start Here!

New to the homebuying process or just want a quick refresher? Watch this short video for tips on where to begin, down payment assistance programs available, key differences between different loan options, and more!

Compare Our Current Mortgage Rates

15-Year Fixed
6.000%
Interest Rate†
30-Year Fixed
6.375%
Interest Rate†
Mortgage Rate Relief3
5.125%
Interest Rate2
VA Mortgage Loans
6.125%
Interest Rate†

For information about USDA and FHA rates or assistance with your mortgage application, contact FSB's Mortgage department at 319-730-6990 or submit a secure form.

Mortgage Loan Application Checklist

When applying1 for a mortgage or refinancing your current loan, have the following ready:

Bank Statements Icon

Bank Statements

Two Most Recent Bank Statements

Proof of Income Icon

Proof of Income

Recent pay stubs or other income

Tax Returns Icon

Tax Returns

W2 or 1099 & 2 Years of Tax Returns

Jason made buying our first home easy by answering all our questions. We’re excited to work with FSB for future loans!
- Drew M., Iowa Homebuyer

Mortgage Loan FAQs

A mortgage loan is money you borrow to buy a home. You pay it back over time with interest, usually in monthly payments. It’s a long-term loan secured by the property itself.

Common types include fixed-rate loans (same rate and payment for the life of the loan), adjustable-rate loans (rate changes after an initial period), VA loans (for veterans), FHA loans (for buyers with lower credit or smaller down payments), and USDA loans (for homes in rural areas). Each fits different needs and situations.

Your credit score shows lenders how reliable you are with borrowing. Higher scores usually get lower interest rates because you’re seen as less risky. Lower scores might mean higher rates or stricter loan terms.

You provide financial info to a lender who reviews it to estimate how much you can borrow. They check your credit, income, and debts. Getting preapproved shows sellers you’re serious and gives you a budget for your home search.

Start the Preapproval Process ->

Must be 18 or older to apply. Loans subject to credit approval.

It depends on the loan type. Conventional loans usually require 5-20%. FHA loans can be as low as 3.5%. VA and USDA loans may offer zero down payment options if you qualify.






Apply for a Mortgage Loan or Refinance with FSB

Get preapproved1 in just 5 minutes with our secure online application or contact a lender for additional support. Whether you're buying or refinancing, FSB is here with local expertise and competitive rates.

Apply Online Contact a Lender


A couple sitting on a couch, smiling while looking at a tablet, exploring mortgage loan options.
Ready to Buy? Get Preapproved Now

Start your mortgage application1 online in minutes. Fast decisions from local lenders who know Iowa.

Start Your Application ->

Mortgage Loan Disclosures
1Must be 18 or older to apply. Loans subject to credit approval.
2Rate is subject to change without notice. Contact FSB’s mortgage department for the most current rate. Loan must be for a primary residence. Other terms and conditions may apply, see mortgage lender for details.  Program runs until funds are exhausted.
3Must be 18 or older to apply. All loans are subject to credit approval. Credit score must be 680 or higher. Income-based eligibility for households earning less than 80% of the area’s median income. Must be an active FSB customer. Limited funds are available.
†All rates are subject to change without notice. Actual rate may be higher based on credit history, occupancy, LTV and loan type. The rates provided assume the purpose of the loan is to purchase a single family residence that will be used as a primary residence. FSB is not responsible for typographical errors or omissions.
 
Call FSB's Mortgage department for more information: 319-730-6990