DUBUQUE, Iowa—Dupaco Credit Union is partnering with the Federal Home Loan Bank of Des Moines (FHLB Des Moines) to offer Mortgage Rate Relief, a housing affordability initiative that supports income-qualified homebuyers by permanently reducing mortgage interest rates by up to 1.5% below the current market rate. The interest savings can be the difference in making the dream of homeownership a reality.
Introduced in 2024, the Mortgage Rate Relief program continues to make a meaningful impact across the region. Since its launch, Dupaco has been selected to participate in this program and has already applied more than $9.3 million in grant funds to credit union members’ home loans. For 2026, Dupaco has been awarded $6 million in additional funding to help even more eligible members purchase homes.
“Every day, we meet members who are working hard to build financial stability for themselves and their families,” said Laurie Von Ah, Senior Mortgage Lending Consultant at Dupaco. “Programs like Mortgage Rate Relief open doors that might otherwise stay closed. Permanently lowering interest rates for eligible borrowers doesn’t just make homeownership more attainable—it creates long‑term savings that strengthen their financial lives well into the future.”
The Mortgage Rate Relief program offers qualified homebuyers a special rate as low as 4.967% APR*. This is up to 1.5% below the current market rate.
“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.”
For more information, call 800-373-7600 ext. 204.
*Additional eligibility guidelines apply. Rate effective as of 3/2/2026. All loans subject to approval. Rate, terms and conditions are subject to change. Equal Housing Opportunity.
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ABOUT DUPACO COMMUNITY CREDIT UNION
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Dubuque, Iowa. It is dedicated to the financial well-being of its members, and specializes in personalized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 118 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Founded in 1948 by ten Dubuque Packing Company employees, membership has grown to more than 179,000 with assets exceeding $3.6 billion. It has over 600 employees and 23 branch office locations. Learn more at www.dupaco.com.
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 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.
