The United States Department of Agriculture Rural Development office is temporarily accepting applications to refinance home loans in rural Iowa. Through the Direct Home Loan Program eligible households experiencing an increase in interest rate or change in repayment terms for adjustable rate loans, interest only loans, short-term rate locks, or other specialty lending, may be able to refinance their existing mortgage. The program offers 33 or 38 year terms with a fixed interest rate currently at 3.625 percent. Those interested are asked to contact the Rural Development office by September 1st.

Questions regarding USDA Rural Development’s Direct Home Loan Program can be directed by email to: DirectIA@ia.usda.gov; phone (515) 284-4444; fax (855) 415-3562; or USDA Rural Development, 210 Walnut Street, Room 873, Des Moines, Iowa 50309.