TopLine Financial Credit Union Partners with Federal Home Loan Bank of Des Moines to Offer a New Mortgage Rate Relief Program

TopLine Mortgage Services offer a new mortgage program to help members achieve homeownership dreams

TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, partnered with Federal Home Loan Bank of Des Moines, a member-owned cooperative that provides funding solutions, to help make homebuying and refinancing more affordable for members by offering a new Mortgage Rate Relief Program.

The new Mortgage Rate Relief Program offered qualified applicants an approximate 2% interest rate reduction off the current market rate and was available to homebuyers or existing homeowners earning up to 80% of area median income (AMI), based on the Federal Housing Finance Agency’s Underserved Areas Data. There were 17 TopLine members who took advantage of the mortgage program for $3,830,437. The program officially exhausted the funds available in July 2024.

“This is my first home purchase and from day one to closing, TopLine’s Mortgage team made the process extremely understandable and easy,” said a TopLine member and program participant. “They answered every question I had and checked in periodically to reassure that I was feeling good about the process. I would recommend TopLine’s Mortgage team to all of my close friends and family.”

“We believe that homeownership should be within reach for everyone,” says Mick Olson, President and CEO of TopLine Financial Credit Union. “We were excited to partner with the Federal Home Loan Bank of Des Moines to offer the Mortgage Rate Relief Program to make home buying more affordable, and help our members achieve their goals of homeownership.”