Mortgage Rate Relief

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How do I qualify for this program?

Mortgage Rate Relief is designed to make homeownership attainable for borrowers at or below 80% of the Federal Housing Finance Agency Area Median Income.

All owner’s/occupants’ income must be considered when determining eligibility. All owners/occupants must be borrowers on the loan for the program. All borrower income must be included, this includes any income you may have above what is used to qualify for the mortgage loan.

Standard Private Mortgage Insurance (PMI) is required for Loan to Value (LTV) greater than 80%. Maximum loan to value is 95%, depending on the property.

Must be purchasing a 1-4 family unit residential property.

How do I apply?

Contact your local Dakotaland Federal Credit Union Mortgage Loan Officer today to apply or start you application online here or you can download our home lending app.

What if I have more questions?

You can contact one of our Home Loan Experts and they will be able to answer any questions you have about the program.

* Annual Percentage Rate (APR) of 5.260% is based on a $200,000 loan with 360 equal payments and could be up to 5.650% APR depending on down payment amount and private mortgage insurance (PMI). Homeowner’s insurance, real estate taxes, flood insurance, or homeowner association dues are not included in these payment examples and your actual monthly payment will be higher based on these items.

Offer valid for purchase of primary residence and must be a 1-4 single family unit of property. Offer is valid if Mortgage Rate Relief funds are available. Not available with any other loans specials. All owner’s/occupant’s income must be considered when determining your eligibility for this interest rate reduction product. This include any income you may have above what is used to qualify for the mortgage loan. Rates and offers subject to change without notice, current as of 03/31/2025. All loan applications are subject to credit and underwriting approval.