Mortgage Rate Relief
As of 3:30 p.m. CDT Monday, July 20, the Mortgage Rate Relief product is no longer available.
Mortgage Rate Relief was offered on a first-come, first-served basis to FHLB Des Moines member Participating Financial Institutions (PFIs) with an active MPF® Traditional Master Commitment.
Up to 1.5% Lower Interest Rate
Mortgage Rate Relief is designed to make homeownership attainable by permanently reducing the interest rate up to 1.5 percentage points* for qualified borrowers.
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Use existing MPF Traditional MC
Separate Mortgage Rate Relief MC not required for 2026.
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Income Attestation Form Required
All buyers are required to sign this form. It's best practice to have it signed prior to closing.
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Updated Income Decision Tree
Effective tool to help analyze income for program eligibility.
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Funding Status:
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Program funding was fully allocated at 3:30 p.m. CT July 20 |
About Mortgage Rate Relief
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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
- Borrower(s) are not required to be first-time homebuyers
- May be used in conjunction with other eligible grants, including the FHLB Des Moines Down Payment products, which have separate requirements
- Mortgage Rate Relief is also available for loans that meet the MPF Traditional expanded eligibility guidelines that took effect April 27, 2026
*The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be up to 1.5% below prevailing market rates at any given time.
Frequently Asked Questions
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 |
Partnership Marketing Support
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As your cooperative partner, we have multiple ways we can assist with your promotions and public relations efforts for Mortgage Rate Relief. Collaborate with our Marketing and Communications team and explore new ways to increase brand awareness for your business.
Partnership Marketing Resources
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Marketing Toolkit Includes
- Press release templates
- Promotional flyer
- Strategies to promote Mortgage Rate Relief
- Co-branding guidelines including FHLB Des Moines logo files
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