

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 5.125%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 savings5
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 in Eastern Iowa 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!
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)
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.
Financial Analysis
FSB goes the extra mile, evaluating your potential monthly payment to ensure you're comfortable with your potential monthly payment.
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!
Mortgage Rate FAQ
What are the current mortgage rates in Iowa?
FSB offers competitive, local mortgage rates that are updated regularly. See rates listed above for the most current mortgage rates.
How do I apply for a mortgage with FSB?
You can apply online1 or meet with a local mortgage lender at any FSB location. The process is quick, secure, and personalized.
Does FSB offer special rate programs?
Yes, FSB offers exclusive low-rate programs, including options through the Federal Home Loan Bank. Contact us to see if you qualify.
Are FSB’s mortgage rates fixed or adjustable?
FSB offers both fixed-rate and adjustable-rate mortgage options, depending on your goals and financial situation.
Can I get pre-approved online for an FSB mortgage?
Yes. FSB offers online pre-approval1 so you can check your buying power quickly and start the process from home.

Ready to start your homebuying journey? Learn how to apply for a mortgage and make your homeownership dreams a reality!