Mortgage Rate Relief

As of March 3, 2025, FHLB Des Moines member Participating Financial Institutions (PFIs) with an active MPF® Traditional Master Commitment (MC) can access Mortgage Rate Relief funds on a first-come, first-served basis up to a $5 million maximum funding limit per institution.

Lower Interest Rate

~1.5% Lower Interest Rate
Mortgage Rate Relief is designed to make homeownership attainable by permanently reducing the interest rate approximately 1.5 percentage points* for qualified borrowers.

Use existing MC

Use existing MPF Traditional MC
Separate Mortgage Rate Relief MC not required for 2025. 

Attestation Form

Income Attestation Form Required
All buyers are required to sign form prior to or at closing.

Income Decision Tree

Updated Income Decision Tree
Effective tool to help analyze income for program eligibility. 

Purchase only

Purchase Transactions Only

Mortgage Rate Relief Product Guide
Training

Watch Updated Training

Mortgage Rate Relief On-Demand Training

Mortgage Rate Relief Benefits

Mortgage Rate Relief Benefitsplay video (opens in a new window)

Qualifications Include: 

  • Borrowers’ income is at or below 80% Area Median Income (AMI) according to Federal Housing Finance Agency’s (FHFA) Underserved Areas Data
  • Available for purchase transactions only, primary residence, 1-4 family dwellings
  • Can be used in conjunction with other eligible grants, including the FHLB Des Moines Down Payment products, which has separate requirements.

Contact your Mortgage Relationship Manager for more information if you are not currently selling into MPF Traditional.

*The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be approximately 1.5% below prevailing market rates at any given time.

Mortgage Rate Relief FAQs


Mortgage Rate Relief Product Features

Product Features
Benefits Below Market Interest Rate
Follows Agency Conforming Loan Amounts
No New Master Commitment (MC) Required with existing MPF Traditional MC
PFI Earns 2% Agent Fee
Can be used in conjunction with other down payment and closing cost programs
Structure Credit Enhanced: FHLBank and PFI Share Credit Risk
No Loan Level Price Adjustments
Delivery Commitments - Mandatory Only
Underwriting Occupancy: Owner-Occupied
Mortgage Rate Relief Income Attestation and Documentation Required

Tips for Calculating Mortgage Rate Relief Income Guidelines

Looking for support in calculating income eligibility? Follow these directions:

  • Sign into eMPF
  • Click on the HOME tab
  • Look at the QUICK LINKS section and the links that says, "FHFA 80% AMI amounts by county”

Mortgage Rate Relief AMI Decision Tree


Our Commitment to Affordable Homeownership

In 2025, FHLB Des Moines has allocated $22 million in voluntary contribution funding for the Mortgage Rate Relief program to help you meet your community homeownership needs. These funds are available on a first-come, first-served basis to active Participating Financial Institutions (PFIs).

Mortgage Rate Relief is supported through discretionary (voluntary) program funding, approved by the FHLB Des Moines Board of Directors. Learn More

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