# The Federal Savings Bank

> **Canonical URL:** https://saferate.com/lenders/the-federal-savings-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


The Federal Savings Bank is a bank, headquartered in Chicago, IL, serving borrowers nationwide, with 7,048 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 84% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 51% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300BX448ALT10FI43
- **Headquarters:** Chicago, IL
- **Geographic Reach:** National
- **States Served:** 51
- **State List:** AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- **Markets (MSAs):** 50
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Mediocre 😐
- Score: 16/100
- Rating: ●○○○○ (1/5)

### Pull Through: Sound ☺️
- Score: 49/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.582%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $3,809
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 7,048
- **Dollar Volume:** $2.8 billion
- **Applications Received:** 17,531
- **Market Share:** 20.00%

## Typical Borrower Profile

- **Average Loan Amount:** $396,247
- **Average Borrower Income:** $128,999
- **Average Property Value:** $472,741

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 80/100 | 2,127 | +0.659% | $3,473 | Strong 😀 |
| FHA | 83/100 | 1,194 | +0.670% | $4,116 | Exceptional 🤩 |
| VA | 89/100 | 3,668 | +0.346% | $4,394 | Exceptional 🤩 |
| Jumbo | 70/100 | 46 | +0.494% | $2,787 | Strong 😀 |
| USDA | 74/100 | 13 | -0.039% | $2,032 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 1,894 loans, Score: 80/100 (Exceptional)
- Refinance: 233 loans, Score: 61/100 (Strong)

**FHA:**
- Purchase: 811 loans, Score: 82/100 (Exceptional)
- Refinance: 383 loans, Score: 83/100 (Exceptional)

**VA:**
- Purchase: 439 loans, Score: 80/100 (Exceptional)
- Refinance: 3,229 loans, Score: 95/100 (Exceptional)

**Jumbo:**
- Purchase: 42 loans, Score: 51/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 82/100 | 3,199 | $1.3B | +0.587% | Exceptional 🤩 |
| Refinance | 85/100 | 3,849 | $1.5B | +0.567% | Exceptional 🤩 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IL | 933 | 0.75% | 82/100 |
| NY | 650 | 0.57% | 78/100 |
| VA | 395 | 0.37% | 75/100 |
| NC | 366 | 0.25% | 68/100 |
| IN | 360 | 0.40% | 71/100 |
| FL | 335 | 0.11% | 64/100 |
| GA | 320 | 0.23% | 69/100 |
| NJ | 306 | 0.36% | 73/100 |
| OH | 264 | 0.20% | 66/100 |
| CA | 214 | 0.07% | 59/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 780 | 73/100 |
| Chicago | IL | 728 | 82/100 |
| New York | NY-NJ | 326 | 75/100 |
| Nassau County | NY | 276 | 76/100 |
| Indianapolis | IN | 238 | 74/100 |
| Lakewood | NJ | 146 | 71/100 |
| Virginia Beach | VA-NC | 136 | 68/100 |
| Atlanta | GA | 127 | 63/100 |
| Arlington | VA-WV | 126 | 66/100 |
| Nashville | TN | 96 | 63/100 |
| Phoenix | AZ | 81 | 56/100 |
| Las Vegas | NV | 76 | 61/100 |
| Elgin, IL | IL | 73 | 68/100 |
| Charlotte | NC-SC | 72 | 59/100 |
| Baltimore | MD | 69 | 58/100 |

## Where This Lender Ranks

The Federal Savings Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Nassau County for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/nassau-county/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Elgin, IL for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/elgin-il/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Blacksburg for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/blacksburg/best-mortgage-lenders/banks/usda-loans)
- 🥇 **#1** in Bridgeport for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/bridgeport/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Yakima, WA for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/yakima-wa/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in New York for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/new-york/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Lakewood for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lakewood/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Newark, NJ for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/newark-nj/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Kiryas Joel for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/kiryas-joel/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Hagerstown for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/hagerstown/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Rockingham County for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/rockingham-county/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Hickory for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/hickory/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Bloomington, IN for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/bloomington-in/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Springfield, MA for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/springfield-ma/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Olympia for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/olympia/best-mortgage-lenders/banks/va-loans)
- 🥉 **#3** in Lake County, IL for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lake-county-il/best-mortgage-lenders/banks/fha-loans)
- 🥉 **#3** in Lake County, IL for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lake-county-il/best-mortgage-lenders/banks/va-loans)
- 🥉 **#3** in Lima, OH for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lima-oh/best-mortgage-lenders/banks/fha-loans)
- 🥉 **#3** in Allentown for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/allentown/best-mortgage-lenders/banks/va-loans)
- 🥉 **#3** in New Hampshire for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/new-hampshire/best-mortgage-lenders/banks/va-loans)

## Frequently Asked Questions

### What loan types does The Federal Savings Bank offer?

The Federal Savings Bank offers the following mortgage loan types: FHA, Conventional, VA, Jumbo, USDA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does The Federal Savings Bank offer mortgages?

The Federal Savings Bank is a national lender offering mortgages in all 50 states plus Washington D.C.

### How competitive are The Federal Savings Bank's mortgage rates?

The Federal Savings Bank has a pricing score of 16/100 (Mediocre), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.582% above market average.

### What type of lender is The Federal Savings Bank?

The Federal Savings Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Chicago, IL.

### What is The Federal Savings Bank's loan approval success rate?

The Federal Savings Bank has a pull-through score of 49/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/the-federal-savings-bank

### How to Cite

> "The Federal Savings Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/the-federal-savings-bank

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