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Homeownership just got more affordable!
How do I qualify?
- Mortgage Rate Relief is available to home buyers earning up to 80% of area median income (AMI), determined by the Federal Housing Finance Agency’s Underserved Areas Data.*
- All owner/occupants’ income must be considered when determining eligibility and all owner occupants must be borrowers on the loan for Mortgage Rate Relief. All borrower income must be included. (This includes any income you may have above what is used to qualify for the mortgage loan).
- Available for purchase of owner occupied 1-4 family residential property.
Program Features
- Provides a 30-year fixed rate mortgage at a reduced interest rate to qualified home buyers earning up to 80% of the area median income.
- Interest rate reduction is estimated at approximately 1.5% less than current market rates, dependent on daily market rate fluctuations.**
- Funding for the Mortgage Rate Relief Program is on a first-come, first-served basis, provided funding under the program remains available. This program is temporary, and loans must be closed and funded by 12/31/2026.
- Subject to FHLB Des Moines Mortgage Rate Relief Program, FHLB Traditional Loan Product guidelines and credit approval.
- 30-year fixed conforming conventional FHLB MPF Traditional Loan product.
- Standard Private Mortgage Insurance is required for Loan To Value greater than 80%. Maximum Loan To Value is 95%, dependent on property.
How do I apply for Mortgage Rate Relief?
Contact one of our Mortgage Loan Officers below, to verify your eligibility for Mortgage Rate Relief.
All buyers are required to sign the Mortgage Rate Relief Income Attestation form prior to or at closing.
This information does not constitute pre-qualification or pre-approval of any product or service offered by Mid Minnesota Federal Credit Union. This is not a commitment to lend. Additional terms and conditions apply.
Lexi Patynski
Serving: Little Falls, Staples, Wadena and Surrounding Areas
NMLS: 2684598
(320) 639-2142
lpatynski@mmfcu.org
Ginger House
Serving: Baxter, Pequot Lakes and Surrounding Areas
NMLS: 506676
(218) 822-5120
ghouse@mmfcu.org
Veronica Franzen
Serving: Aitkin, Brainerd, Crosby and Surrounding Areas
NMLS: 757043
(218) 822-5124
vfranzen@mmfcu.org
Nathan Rund
Serving: Ada, Alexandria, Detroit Lakes, Fergus Falls and Surrounding Areas
NMLS: 2716660
(320) 460-7489
nrund@mmfcu.org
*Qualified residents with a household income below 80% Area Median Income (AMI) as defined by Federal Housing Finance Agency (FHFA) guidelines can take advantage of this offer. Income may vary by county. Example=Crow Wing County AMI is $106,500 and 80% AMI is $80,200. Actual income qualification will be verified and may differ from the example shown.
Qualified applicants for the Mortgage Rate Relief program may receive an interest rate that is up to 1.5% below the current market rate, depending on daily market conditions. This benefit is not guaranteed and may change at any time based on market fluctuations. The Interest Rate and Annual Percentage Rate (APR) provided are accurate as of 3/2/26. Rates, terms, and conditions are subject to change without notice.
This program is available for purchase transactions only, owner-occupied 1-4 family residences.
Borrowers must sign a Mortgage Rate Relief Income Attestation Form prior to closing.
Funds are available first-come, first-served, subject to availability.
APR calculations are based on a single-family primary residence purchase price of $250,000 with 20% down payment, a loan amount of $200,000, a loan origination fee of $1,295, qualifying credit score of at least 740, a 60-day rate lock period with a rate of 4.875% and APR of 4.991%, resulting in a monthly principal and interest payment of $1,058.42 for a term of 360 months. Homeowner’s insurance, real estate taxes, flood insurance, private mortgage insurance (PMI), or homeowner association dues are not included in these payment examples, and your actual monthly payment will be higher based on these items.
The estimated origination fee or points disclosed do not constitute a Loan Estimate. A complete Loan Estimate will be provided as required under federal regulation.
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