Our Heroes: Our Priority
Honoring Those Who Serve
The Federal Savings Bank is owned and operated by veterans with a mission to help serve veterans. Most members of our executive leadership team and many of our employees have also served our country and know from experience that the transition from soldier to civilian means having a place to be able to call "home". Since buying a home is the biggest purchase of someone's life, we want to make sure that veterans are aware of the options and benefits available to them.
What is a VA home loan?Designed for veterans, active-duty military service members and their families who would like to buy a home, the VA home loan is guaranteed by the U.S. Department of Veterans Affairs and offers fewer restrictions. VA home loans require no down payment, no private mortgage insurance, and competitive rates. With the VA home loan option, qualified veterans or active duty personnel can finance up to 100% of the purchase price of their home. This protects the lender against loss in the event a borrower fails to repay the VA home loan. For that reason, The Federal Savings Bank can offer a lower interest rate, regardless of the down payment amount, with no mortgage insurance payments.
Key Things to Remember
- VA home loans require no down payment, no PMI, lower interest rates and easy qualification.
- Veterans can use basic allowance for housing to pay some or all of their monthly mortgage costs.
- The VA home loan allows borrowers to pay off their home loan at any point without having to worry about a pre-payment penalty.
- Veterans with conventional home loans now have the option to refinance to a VA home loan, for a lower rate than a typical refinance.
- The Federal Savings Bank charges no lender fees or points to active duty military personnel, reservists and veterans who finance or refinance their home with our VA Home Loan program.
- Active duty personnel
- Reservists/National Guard members
- Qualified surviving spouses
To learn more about which loan option is best for you, call to speak with one of our expert mortgage bankers or if you're ready, get started today. We’re here to provide you with a clear path to home ownership!Apply Now