CorTrust Mortgage 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.
Mortgage Rate Relief is designed to make homeownership attainable for borrowers at or below 80% of the Federal Housing Finance Agency’s (FHFA) Underserved Areas Data.
“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.
Introduced in 2024, Mortgage Rate Relief has provided more than $28 million, impacting over 1,500 households, with 64% being first-time homebuyers. In 2025, FHLB Des Moines has committed to support the Mortgage Rate Relief program with up to $22 million of voluntary funding to help meet community homeownership needs, with funds becoming available on March 3, 2025.
Contact a CorTrust Mortgage lender to verify eligibility and learn more about the program. Call CorTrust Mortgage at (800) 529-0192 or visit our mortgage resources to learn more.
“We are very excited to be offering this product in partnership with FHLB Des Moines. We want to help make homeownership obtainable and believe the Mortgage Rate Relief program can aid our community members in achieving that goal.”
— Todd Hopkins, CorTrust Mortgage President
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Learn MoreAbout CorTrust Mortgage
CorTrust Mortgage serves 16 South Dakota communities, and 15 Minnesota communities, with 37 branch locations. We offer a variety of loan products including conventional loans, first-time home buyer loans, rural development loans, FHA loans, VA loans, and more. And unlike others, we service most mortgage loans locally. CorTrust Mortgage – raise your expectations.
About The 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.