Mortgage Rate Relief
Homeownership just got more affordable!
How do I qualify?
Beginning March 2, 2026, Mortgage Rate Relief is available to home buyers earning up to 80% of area median income (AMI), determined by the Federal Housing Finance Agency's Underserved Areas Data.
All owners/occupant's income must be considered when determining eligibility for this interest 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?
Eligible borrowers can receive an interest rate up to 1.5% below the market rate of certain fixed rate mortgages.
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 or location).
How do I apply for mortgage rate relief?
Contact one of our mortgage lenders to verify your eligibility for Mortgage Rate Relief and 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 First State Bank and Trust.
