FIBT To Offer Mortgage Rate Relief to Qualified Borrowers

First International Bank & Trust (FIBT), in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is excited to offer the Mortgage Rate Relief program to eligible households starting March 3, 2025.

Mortgage Rate Relief is a unique opportunity that provides qualified borrowers with a more affordable path to homeownership. It is designed to permanently reduce the interest rate by approximately 1.50%* for those who qualify. That would be a rate of 5.125% with APR of 5.230%** for a 30-year fixed rate conventional loan.

Here are more details about Mortgage Rate Relief:

• Funds are extremely limited and on a first-come, first-served basis.
• Qualified borrowers are those whose total household income is at or below 80 percent of the area median income.
• The program applies to 30-year fixed rate conventional loans only.
• The program can be used to purchase a primary residence, which must be a 1-4 single-family unit property.

*The Mortgage Rate Relief interest rate offered by FHLB Des Moines will be approximately 1.50% below prevailing market rates at any given time.

**For actual and current term information, please contact your lender directly. Annual Percentage Rate (APR) of 5.230% assumes a 5.125% simple fixed interest rate, $240,000 loan amount and $795 in fees included in APR. This program is available for a limited time only and is subject to change or cancellation at any time without notice.

If you would like to learn more about this program, we encourage you to connect with an FIBT mortgage loan officer. You can also visit FHLB Des Moines’s website for more information.