Dreams Within Reach: Dupaco Provides Permanent Rate Reduction With Mortgage Rate Relief Program

March 31, 2025

Dubuque, IA – Dupaco Credit Union is offering a unique mortgage lending program that provides eligible members a permanent interest rate reduction of 1 percentage point below Dupaco's current market rate. This special rate is available for eligible homebuyers, regardless of their location, and can only be applied to a new purchase. 

Dupaco is partnering with the Federal Home Loan Bank of Des Moines (FHLB Des Moines) on the program that, in total, is providing $22 million in grant funds to those seeking affordable homeownership. 

The Mortgage Rate Relief program launched in early March and Dupaco’s Krystal Frederick, AVP, Mortgage Lending mentioned the financial cooperative has already seen significant demand.  

“As we approach prime homebuying season, we’ve already locked members in to receive this special rate,” said Frederick. “This permanent interest rate reduction is a fantastic opportunity for those eligible for the program; it could save them thousands of dollars in interest over the life of the loan, boosting their financial well-being.”  

The Mortgage Rate Relief program offers homebuyers a special rate of 5.210% APR*.  

FHLB Des Moines says this product 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. 

Those interested in learning more the Mortgage Rate Relief program and the program’s eligibility guidelines should contact Dupaco at 800-373-7600 ext. 204. 

 

*Additional eligibility guidelines apply. Rate effective 3/31/2025. All loans subject to approval. Rates, terms, and conditions are subject to change. Equal Housing Opportunity.