CorTrust Mortgage and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) have joined forces to offer Mortgage Rate Relief, a housing affordability initiative designed to support income- qualified homebuyers by reducing mortgage interest rates up to 1.5% lower than the current market rate. The interest savings can be the difference in making the dream of homeownership a reality.
“We’re 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 this goal,” said Todd Hopkins, CorTrust Mortgage President.
Introduced in 2024, Mortgage Rate Relief has impacted more than 3,200 households, with over $58 million in grant funding applied to more than $655 million in funded mortgage loans across the FHLB Des Moines district. Thousands of families who are now better able to provide financial security for their families and grow their roots in our communities.
“Our goal is always to provide our members with innovative tools and resources that make a real difference,” said Dan Mahlum, mortgage programs director at FHLB Des Moines. “This partnership strengthens our ability to support our members as they work to address housing affordability challenges and meet the needs of their customers.”
About 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 buye 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 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 communit
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.
