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Home Ownership Within Reach
Qualified applicants can receive up to a 1.5% point rate reduction below current market rates on a 30-year fixed-rate mortgage loan.
The Program
A 1.5% point rate¹ reduction for eligible borrowers in Iowa. This program applies only to the purchase of a primary residence.
How Do I Qualify
Available to home buyers or existing homeowners who are at or below 80% of the FHFA area median income.²
The household income is considered when determining eligibility. For example, a household in Story County, would be limited to a total income of $90,080 (regardless of family size).
1-The Mortgage Rate Relief interest rate offered by FHLB Des Moines, for an owner-occupied residence in the state of Iowa, will be approximately 1.5% below prevailing market rates at any given time. FHLB Des Moines is a MPF® Program provider. 2-Applicants must qualify for a loan based on credit score.
