Today's Mortgage Rates in Cedar Rapids, Iowa
15-Year, 30-Year Fixed, VA, & IFA Rates Available
For information about USDA and FHA rates or assistance with your mortgage application, contact FSB's Mortgage department at 319-730-6990 or submit a secure form.
FHLB's Mortgage Rate Relief Program
This exclusive loan program3 from the Federal Home Loan Bank is designed to make homeownership more affordable for eligible buyers, offering a fixed 5.375%2 mortgage rate for those who qualify.
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Income-based eligibility for households earning less than 80% of the area’s median income4
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Available for the purchase of a primary residence only
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Can be combined with the FHLB Des Moines Home$tart grant for additional savings
Ready to See if You Qualify?
Take the next step! Connect with a lender or review income requirements to get started.
Mortgage Application Checklist
When applying for a mortgage loan, you'll need:
Bank Statements
Two Most Recent Bank Statements
Proof of Income
Recent pay stubs or other income verification
Tax Returns
W2 or 1099 & 2 Years of Tax Returns
Why Getting Preapproved Matters
Getting a preapproval provides a clear understanding of your budget and puts you in a position to make an offer if the perfect home hits the market. You want to get preapproved before you start shopping.
The Preapproval Process
Get started today with these simple steps!
1
Start Your Journey
Choose between:
FSB's Online Application
(Recommended if you are ready to complete your application)
Inquiry Form
(Request assistance or additional information before applying)
Call the Mortgage Team at 319-730-6990
(Best for immediate, personalized support from a representative)
2
Personalized Assistance
Following your application, an FSB Mortgage lender will contact you to discuss your application further, determine how much home you can afford, and answer any questions.
3
Financial Analysis
FSB goes the extra mile, evaluating your potential monthly payment to ensure you're comfortable with your potential monthly payment.
4
Customized Mortgage Solutions
Once approved, your FSB lender will help you identify the best mortgage loan option and explore eligibility for specialized grants.
Ready To Get Preapproved with a Low Rate?
Getting preapproved takes as little as 5 minutes and provides you with the financial backing of FSB when submitting an offer. Apply online1 to get preapproved today, or contact a lender for personalized guidance!
Get Started with Confidence
Ready to start your homebuying journey? Learn how to apply for a mortgage and make your homeownership dreams a reality!
Mortgage Rate Disclosures
1Must be 18 or older to apply. All loans are subject to credit approval.
2Rate is subject to change without notice. Contact FSB’s mortgage department for the most current rate. Loan term of 241-360 months/more than 20 years up to 30 years. Loan must be for a primary residence. Effective March 3, 2025; program runs until funds are exhausted.
3Must be 18 or older to apply. All loans are subject to credit approval. Credit score must be 680 or higher. Income-based eligibility for households earning less than 80% of the area’s median income. Must be an active FSB customer. Limited funds are available.
4Median income is determined by Federal Housing Finance Agency (FHFA) and varies due to county.
†All rates are subject to change without notice. Actual rate may be higher based on credit history, occupancy, LTV and loan type. The rates provided assume the purpose of the loan is to purchase a single family residence that will be used as a primary residence. FSB is not responsible for typographical errors or omissions.
‡As little as 3% down payment to purchase a home, with a loan amount of $125,000 or less and a credit score over 740. Contact a mortgage lender to see if you qualify for the HomeReady loan program.
Call FSB's Mortgage department for more information: 319-730-6990
