Mortgages

First Mortgage Loans

Move Into a Better Mortgage Rate Even if you purchased or refinanced a home in the past two years, now could be a great time to move into a better mortgage rate. Request a free mortgage consultation.
First Class Mortgage Loans are a great option for members who are looking to finance a new home or refinance their current home. We have a loan type and term to fit just about every situation, please call or apply online today!

  • Competitive rates and fees
  • Fixed and adjustable-rate options
  • Various term options available
  • Conventional, VA, FHA & USDA

Let Jason Beard and our team assist you with your mortgage needs. We make the process simple!

Call us 24/7 at 1-800-392-7122 or request a free mortgage consultation.

Mortgage Consultation

We are happy to provide a no-cost, no-obligation mortgage consultation for our members and potential members. Please complete this brief form and we will be in touch with you as soon as possible.

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Please let us know if you have any questions or additional comments related to this request, or if you are additional in any other services.

The difference is in how the interest rate is calculated. With a fixed rate mortgage, the interest rate you start with is the rate you will have for the lifetime of the loan until it is paid off. With an adjustable rate mortgage, the interest you pay is tied to an index rate, with the mortgage’s interest rate periodically fluctuating as that index rate changes.

VA Loans are loans guaranteed by the US Department of Veterans Affairs. The loans are available to qualifying active duty personnel and veterans, along with some surviving spouses of veterans. The eligibility criteria vary depending upon when you served, and applicants still have to meet standards for income and credit of both the VA and the lender. For more information on eligibility, see the VA website.

VA loans can offer in some cases no down payment options and better terms and interest rates than other loans. It also can eliminate the need for PMI (private mortgage insurance) or MIP (mortgage insurance premiums).

FHA loans are mortgages insured by the Federal Housing Administration. They generally have lower credit score requirements than conventional mortgages. There are still minimums, however, and the required down payment is often tied to the credit score.

There are also maximum home prices, including a $524,225 cap on single family homes in the Des Moines area for 2025.

The downside is that you will have to make both upfront and monthly payments into the FHA mortgage insurance program. Depending upon down payment size, these payments might carry on for 11 years or for the entire length of the mortgage.

USDA loans assist lenders in providing loans with 100% financing (no money down) to those buying or building homes in eligible rural areas.

There are income eligibility requirements, with a general cap of 115% of median household income. While Des Moines, West Des Moines and Ankeny are generally not eligible, most of the rural area surrounding the metro is.