Mortgage Rate Relief

First Federal Bank is excited to offer a NEW mortgage savings product – Mortgage Rate Relief – through FHLB of Des Moines. For qualifying households, Mortgage Rate Relief will lower the current market mortgage interest rate up to 2%!1

Mortgage Rate Relief Features:

  • Up to 2% interest rate1 reduction for eligible borrowers - To be eligible, household must be at or below 80% of the FHFA area median income2
  • Can be used for home purchase or refinancing
  • Can be paired with other eligible down payment programs including Home$tart and NAHI3

Speak with a First Fed Mortgage Banking Professional to learn more and see if you qualify for Mortgage Rate Relief or another down payment reduction program.

Our efficient approvals, on-time closings, and mortgage expertise are some of the reasons why we are Idaho’s Community Bank of Choice!

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Mortgage Rate ReliefClick on the image to download our product flyer!

Institution NMLS #402963. All credit products are subject to approval. Private mortgage insurance is typically required for loans with greater than 80% loan-to-value ratio. 1The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be approximately 2% below prevailing market rates at any given time. Mortgage Rate Relief funds are restricted to a primary residence, 1-4 family dwellings, and 30-year fixed conforming conventional loans. 2Eligible households include those with income at or below 80% of the area FHFA median income. Eligible income is based on all adult owners/occupants. 3Borrower will need to meet the requirements of any grant programs in addition to the Mortgage Rate Relief requirements.

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