It might be your first home, a vacation home, or an investment property.
No matter what type of property you are buying, we know it is a big investment. We’re here to walk you through the process and provide competitive rates. How?
As a bank focused on mortgages, we have the tools and knowledge needed to get you in a home, so you can rest assured to be in good hands.
No matter what kind of home you’re looking for, our experts can help you find most appropriate mortgage for your financial needs.
This is a big deal. It’s likely the biggest investment you will make in your lifetime. We’ll make sure you have all the information you need and will answer any questions you have. You’ve got a lot on your mind. You’ll have questions. We’ll have answers.
See videos, calculators, and expert advice to help you get answers and ask the right questions.
You’ve been here before. You know the excitement and the possible/potential frustrations. Our experts are here to make sure that the process goes smoothly. We’re dedicated to making this purchase joyful, with less stress.
You’re looking for a place to relax or a place to provide additional income to you. Regardless, purchasing an additional property will add to your financial situation. Work with one of our experts to find a rate and loan program that’s right for you.
See videos, calculators, and expert advice to help you get answers and ask the right questions.
Building your own home takes passion, effort, sweat…and money. Our home construction loans are built with individual builders in mind. You want to be sure that you have the resources you need to put in the last nail and call it your home.
See videos, calculators, and expert advice to help you get answers and ask the right questions.
We’re a veteran-owned company that specializes in VA Home Loans.
These loans are designed to meet the unique needs of veterans, active military, and their spouses. We know what to do if you are in the middle of a PCS or if you are now a civilian. We’ll make sure you get the competitive rate you’ve earned.
There are standard mortgage loans, and then there are special loans that can help you buy, refinance, or build.
The world of reverse mortgages has changed. These highly-regulated loans help provide stability and security no matter your financial situation. We’re proud to offer safe, practical, and easy-to-manage loans to all our clients.
Our mortgage customers have exclusive access to personal loans, helping you make a down payment, finance repairs, or pay for your day-to-day needs after making your home payment. They’re helpful, easy, and only available to TFSB customers.
At The Federal Savings Bank, we have a dedicated Condo/Co-Op Department that specializes in mortgage solutions for these types of homes and working for HOAs to make home purchasing possible for more types of borrowers.
If you are looking to buy a condo, you are in the right place. If you are looking for HOA services such as loans and project approvals, you are also in the right place – just keep scrolling!
We don’t want you to rush. Your best resource in buying a home is to learn as much as you can about the process. When you know what to expect, you can make the best decisions for yourself, your family, and your future.
When determining your home budget, consider your income, debts, and expenses. For the home itself, you’ll likely consider principal, interest, taxes and insurance. It’s important to know all of your expenses, like utilities, commuting, association fees, etc. Try living for a few months on a “pretend” mortgage payment to make sure you can afford it.
First, get a copy of your credit reports to make sure that you are not being unfairly penalized. Also, try not to apply for new credit a year before you apply for financing – and wait to do so until after you have closed on your home. The higher your credit score, the lower your down payment and monthly payments can be.
This tells you how much you can afford. For a pre-approval, you will need to provide your lender with full documentation and verification of income and assets.. A pre-approval letter helps to expedite the underwriting and loan process. Most sellers only accept an offer from a buyer with a full pre-approval letter.
The housing market (and interest rates) always have ups and downs. When buying a home, you should understand the current market conditions and how they will affect your home purchase price. Work with a realtor who has a solid understanding of the housing market and can help you negotiate your home purchase.
If you move prior to the five-year mark, you likely will lose money on your purchase. Closing costs and the monthly mortgage payments are structured so that you pay more interest in the first few years.Plant roots for at least five years – and start paying down the principal of your mortgage.
Houses in school districts that are rated highly are more popular and in-demand than those in sub-par school districts. Even during a down market, home prices in great school districts fare better. If you have children, schools are a priority. Even if you don’t, homes located in good school districts are worth the investment.
Most real estate transactions include more than two dozen professionals – from mortgage brokers, real estate agents and underwriters to insurance assessors, attorneys and inspectors. Since each professional has such a specific role in educating, executing, and advocating for you during your purchase process, be sure to work closely with him or her.
A home inspector can see what is visible and invisible. Home inspectors physically inspect the property from the roof to the foundation. They examine the condition of the roof, plumbing, heating, cooling, etc. and provide their findings in a written report within 1-2 days of the inspection. If trouble spots are found, you can return to the seller with the information and recommend adjusting the selling price. The Federal Savings Bank and your realtor can recommend reputable home inspectors.
Always take the time to read and truly understand what you are signing. Don’t be afraid to ask questions if a document that you’re reading does not make sense, or seems inaccurate. It will take some time for you to review documents. Remember that this is a big investment that you’re making. You deserve as much time as you need.
You’re making a big decision. You probably have a lot of questions.
At The Federal Savings Bank, we’re on your side. Check out our blog for up-to-date advice about the market, finances, and the best way to get the most out of your money.
Be confident about making a big financial decision.
Don’t forget—mortgage borrowers are also eligible for a personal loan from The Federal Savings Bank
Reduce debt and pay off your mortgage quicker with personal loans from TFSB. Our mortgage clients are eligible for exclusive personal loans that help keep your finances in order. It’s a benefit of working with The Federal Savings Bank.
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to you individual situation.
You’re getting ready to take a big step forward. Work with a mortgage team that helps get you the rates you need to get home.