Mortgage Rate Relief

1.5% Rate Below Current Rates*

Choice Bank is proud to partner with the Federal Home Loan Bank of Des Moines (FHLB Des Moines)
to offer Mortgage Rate Relief, a unique product that provides eligible households a more affordable path
to homeownership by permanently reducing their interest rate approximately 1.5 percentage points lower
than the current market rate.

Apply Today Find Out If You’re Eligible

FAQ

What is Mortgage Rate Relief?

Mortgage Rate Relief is a product that provides eligible households a more affordable path to homeownership by permanently reducing their interest rate by approximately 1.5 percentage points lower than the current market rate.*

How Do I Qualify?

Mortgage Rate Relief is available for home buyers earning up to 80% of area median income (AMI), determined by the Federal Housing Finance Agency’s Underserved Areas Data.

All Owners/occupants’ income must be considered when determining eligibility for this interest rate reduction product. This includes any income you may have above what is used to qualify for the mortgage loan.

How Much Will This Lower My Mortgage Rate?

Qualified applicants will receive an approximate 1.5% interest rate reduction below the current market rate. This interest rate reduction only applies to 30-year fixed-rate mortgage loans.

Are There Any Restrictions on the Type of Home I May Purchase?

Mortgage Rate Relief may be used to purchase your primary residence and must be a 1-4 unit residential property. There are no neighborhood restrictions (i.e., type or location).

How Do I Apply for Mortgage Rate Relief?

Contact your mortgage lender to verify your eligibility for Mortgage Rate Relief and to explain the program in greater detail.

*rates as of April 1, 2026

APR is Annual Percentage Rate. APR is 5.18%. The interest rate of 5.125% is a limited time offer for a single-family, owner-occupied residence loan. Financial example: $275,000 purchase price, 20% down, loan amount of $220,000, credit score above 640. 360 payments of $1,197.87. Funds are limited, subject to normal credit criteria, other restrictions may apply. Household income must be 80% of the area medium income. This is not a commitment to lend. Offer is subject to change without notice. See your mortgage loan officer for details.