Mortgage Rate Relief

Homeownership Just Got More Affordable

How do I qualify?

Mortgage Rate Relief is available to homebuyers earning up to 80% of area median income (AMI), determined by the Federal Housing Finance Agency's Underserved Areas Data.

All owner/occupant's income must be considered when determining eligibility for this interst rate reduction product. This includes any income you may have above what is used to qualify for the mortgage loan.

How much will this lower my mortgage interest rate?

Qualified applicants will receive up to 1.5% interest rate reduction below the current market rate. This interest rate reduction only applies to 30-year fixed rate mortgage loans.

Are there any restrictions on the type of home I may purchase?

Mortgage Rate Relief may be used to purchase your primary residence and must be a 1-4 unit residential property. There are no neighborhood restrictions (i.e., type of location).

How do I apply for mortgage rate relief?

Contact your mortgage lender to verify your eligibility for Mortgage Rate Relief to explain the program in greater detail.

Who is FHLB Des Moines?

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is one of 11 regional Banks that make up the Federal home Loan Bank System. As a member-owned cooperative, they work with more than 1,200 financial institutions to support mortgage lending, economic development and affordable housing. Their members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions.

FHLB Des Moines is a bank for financial institutions. This product is made available to you through your participating mortgage lender!

What if I have more questions?

You can contact one of our Home Loan Experts and they will be able to answer any questions you have about the program.

Offered in Partnership with Federal Home Loan Bank of Des Moines