Mortgage Rate Relief
Affordable Homeownership in Reach
First PREMIER Bank is partnering with Federal Home Loan Bank of Des Moines (FHLB Des Moines) to put homeownership in your reach. To learn more about this rate relief program, contact a First PREMIER Mortgage Banker today.
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Mortgage Rate Relief
- Up to 1.5% below the market interest rate on 30-year fixed conventional loan1
- Purchase of primary residence only
- Must meet certain income guidelines
- Funds are limited
Financial Calculators
How much could your payment be? Should you rent or buy? Explore your potential costs and payments with our financial calculators.
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Types of Home Loans
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Conventional Mortgage: A conventional mortgage is not insured or guaranteed by a government program.
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Fixed-rate Mortgage: With a fixed-rate loan your interest rate is set when you take out the loan and does not change.
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Adjustable-rate Mortgages: An Adjustable-Rate Mortgage (ARM) is a loan where the interest rate could change after a fixed period of time.
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Construction Loan: A construction loan is a short-term loan that covers materials and the cost of the builder. A construction loan is typically rolled into your long-term home loan at closing.
Disclosure
{1} The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be approximately 1.5% below prevailing market rates at any given time. Rate Relief funds are restricted to primary residences only on a 30-year fixed conforming conventional loan. Program runs until 12/31/2025 or until the funds run out. All loans and interest rates are subject to credit approval. All lender fees and closing costs still apply. Interest rates are not guaranteed and subject to customer credit history, income and other factors.