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The Federal Savings Bank

TFSB Down Payment Assistance Tools

TFSB 100- A TRUE No Money Down Program

Buyer will receive 3.5% grant covering the Minimum Investment required by FHA. Customer needs $0 to qualify. The customer will most likely need earnest money, but will receive it back at close if they have closing costs paid for by seller.

No Income restrictions- Buyers can make a lot of money.

No geographic restrictions- Program is throughout the USA

DTI as high as 55%- Can help when qualifying buyers with high debt load but can pay the bill.


IDHA Grant

  • Up to $7,500 towards closing costs
  • Borrower income up to $74,000
  • DTI under 45%
  • Borrower must have at least 660 score
  • *$150,000 loan at 3.5% (3.612% APR)
  • Borrower must provide $1,000 of their own money- seasoned 60 days

Federal Home Loan Grant

  • $4,500 towards closing costs
  • Low income requirements (around $40,000 annually)
  • Limited time offer

Tax Smart

  • $2,000 refund on R E tax bill as long as borrower lives in the home
  • Must be in Chicago, and in targeted area
  • Income not to exceed $91,000

Chicago Infrastructure Trust Grant

  • Up to 7% of the sale price
  • Income not to exceed $135,000

Credits directly from our Bank

  • We can have a maximum total of 6.5% in credits


Gift Funds

  • 3% or 3.5% gift funds- This is easier than you might think

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Tim Padavic

Mortgage Banker, NMLS# 171067 direct : (312) 509-4365

e-fax : (312) 212-5619

cell : (773) 744-7755

See what Frank Montro thinks about Tim:



Terms and conditions may vary. Subject to underwriting approval.

*The initial interest rate and monthly payment are subject to adjustment. The first adjustment will occur at the end of the Initial Interest Rate period set forth above and annually thereafter. Interest Rate and corresponding monthly payment are based on ARM index and margin in effect in the last 30 days. The results provided above are intended for comparison purposes only and accuracy is not guaranteed. The Loan Comparison does not ensure the availability of, or your eligibility for, any specific product offered by any particular lender and/or is not a commitment to lend. Rates are subject to change and are based on credit score. The APR is estimated. FHA examples above do not calculate low or high closing cost factors and may not reflect the maximum LTV financing available in your state. Maximum loan amounts for your county should be verified at

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