Dubuque, IA – Dupaco Credit Union is proud to partner with the Federal Home Loan Bank of Des Moines (FHLB Des Moines) to offer its Mortgage Rate Relief program. This unique program provides eligible members with an interest rate reduction on their mortgage.
The Mortgage Rate Relief program is available for eligible homebuyers, regardless of their location, and can only be applied to a new purchase.
“At Dupaco, we work one-on-one with our members, uncovering ways to save them money,” said Krystal Frederick, AVP, Mortgage Lending at Dupaco. “We’re thrilled to offer the Mortgage Rate Relief program, which can reduce mortgage interest rates for qualified homebuyers. This program strengthens our commitment to supporting our members’ financial well-being.”
The Mortgage Rate Relief program provides $22 million in grant funds to those seeking affordable homeownership. This product is designed to make homeownership attainable for borrowers at or below 80% of the Federal Housing Finance Agency’s (FHFA) Underserved Areas Data, by permanently reducing their interest rate by approximately 1.5 percentage points lower than the current market rate.
“The Mortgage Rate Relief product is aligned with our mission and specifically designed to support our members with the goal of improving housing affordability within their local communities,” says Dan Mahlum, FHLB Des Moines mortgage programs director.
Those interested in learning more the Mortgage Rate Relief program and the program’s eligibility guidelines should contact Dupaco at 800-373-7600 ext. 204.
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ABOUT DUPACO COMMUNITY CREDIT UNION
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Dubuque, Iowa. It is dedicated to the financial well-being of its members, and specializes in personalized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 118 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Founded in 1948 by ten Dubuque Packing Company employees, membership has grown to more than 171,000 with assets exceeding $3.4 billion. It has over 600 employees and 23 branch office locations. It is a Forbes Best-in-State Credit Union, Forbes America’s Best Small Employer, and a Des Moines Register Top Workplace. Learn more at www.dupaco.com.
ABOUT FEDERAL HOME LOAN BANK OF DES MOINES
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement. FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.
Additional eligibility guidelines apply. All loans subject to approval. Rates, terms and conditions are subject to change.
