First Rate Mortgage

Mortgage Broker in Waukee | Serving All of Iowa

For over 28 years, First Rate Mortgage has helped homebuyers and homeowners across Iowa secure the right loan with clear communication and closings that happen on time.

Ready to Get Pre-Approved?

ABOUT

Local Mortgage Partner — Not a Big Bank

Based in Waukee and proudly serving homebuyers across Iowa since 1998, First Rate Mortgage offers a more personal alternative to the traditional bank experience. When you work with Angela, you work directly with a licensed Iowa mortgage broker who personally manages your loan from application to closing, monitors every file daily, and keeps you informed every step of the way.

Instead of being passed between departments, you’ll receive one-on-one guidance, competitive loan options from multiple lenders, and honest recommendations focused on finding the mortgage solution that best works for your needs and helps you save money in the future.

What Our Customers Say

Verified Google Reviews

Customers consistently highlight how informed and supported they felt throughout the loan process.
Many note that they always knew the status of their loan and never had to chase down an update — a stark contrast to experiences they’d had with larger lenders or banks in the past.

Pre-Approvals & Assistance

 If you are buying a new home or refinancing, we help you choose the right loan for your situation.

Mortgage Rate Comparison

If you are buying a home or thinking about refinancing, seeing multiple loan offers side by side helps you make a better decision. We pull rates from several lenders at once, so you are not guessing about what is available. You see your options clearly before you commit to anything.

Mortgage Rate Comparison

Mortgage Pre-Approval

If you are ready to shop for a home but have not confirmed your budget yet, a pre-approval is your starting point. A pre-approval letter shows sellers you are a serious buyer. It confirms your loan amount before you make an offer and speeds up closing once you find the right home.

Mortgage Pre-Approval

Mortgage Application Assistance

First-time buyers and move-up buyers often find the loan application process confusing or slow. We walk through each step with you. We help you gather the right documents, review your credit picture, and submit your file to lenders who are the right fit for your situation.

Mortgage Application Assistance

Why Choose First Rate Mortgage?

Work Directly With Angela

When you choose First Rate Mortgage, you work directly with Angela Swank from application to closing. She personally manages every loan, monitors its progress daily, and keeps you informed throughout the process, giving you consistent guidance without being passed between departments.

More Loan Options, Honest Advice

As an independent mortgage broker, Angela works with multiple lenders to compare loan options that fit your goals. Her compensation doesn’t change based on the loan product you choose, allowing her to provide recommendations focused on your best interests, not commissions.

Licensed Iowa Mortgage Expertise

First Rate Mortgage is fully licensed to serve homebuyers across Iowa with NMLS Company License #2667 and NMLS Individual License #32402. Backed by nearly three decades of experience, Angela provides knowledgeable guidance you can trust throughout your mortgage journey.

Serving Iowa Since 1998

Based in Waukee and proudly serving communities throughout Iowa since 1998, First Rate Mortgage has helped generations of homebuyers secure financing with confidence. Whether you’re purchasing, refinancing, or investing, you’ll receive responsive, personalized service tailored to your unique needs.

Ready to Get Pre-Approved?

Buying a home starts with the right mortgage strategy. First Rate Mortgage provides fast pre-approvals, clear communication, and personalized loan solutions for homebuyers throughout Central Iowa. Reach out today to take the next step with confidence.

services

Types of Loans

Browse available loan types below. Need help? That’s why we’re here. We can help you choose the right loan for your situation.

Conventional Home Loans

Loans Iowa buyers use most often are conventional loans. They work well for buyers with solid credit and stable income. Qualified first-time homebuyers can purchase a home with as little as 3% down. Conventional financing fits primary residences, move-up purchases, second homes, and many other types of residential properties.

Conventional Home Loans

FHA Home Loans

FHA loans are a strong fit for buyers with lower credit scores or limited savings. You can qualify with a credit score as low as 580 and put just 3.5% down. Because FHA loans are government-backed, lenders take on less risk and can approve more buyers. Mortgage insurance is required with this loan type.

FHA Home Loans

VA Home Loans

VA home loans are available to veterans, active-duty service members, and surviving spouses buying a home. If you have never used your VA benefit before, or if you need to restore entitlement from a prior VA loan, this program may be a strong fit. Buyers who qualify can use VA financing to purchase a home without a down payment in most cases.

VA Home Loans

Jumbo Home Loans

Jumbo loans are perfect if you are looking for a larger loan size up to 5 million that is above the predetermined set loan limits that change every year. Currently that limit is $832,750 so anything over that amount qualifies as a Jumbo Loan. These loans are available for purchases and refinances.

Jumbo Home Loans

First-Time Homebuyer Loans

First-time homebuyer programs are for buyers purchasing their first home. They also apply to buyers who haven’t owned a home in the last three years.

These programs may include lower down payments, reduced rates, or down payment assistance.

First-Time Homebuyer Loans

Low Down Payment Home Loans

If you are ready to own a home but have limited savings for a down payment, several loan programs can help. Some programs allow down payments as low as 3% to 3.5%. Some qualified buyers pay nothing down at all. We review your situation and identify which low down payment programs you are eligible for.

Low Down Payment Home Loans

Second Home Loans

Buying a second home or a vacation property involves different rules than a primary mortgage. Lenders apply separate requirements for down payments and qualifying income when the property is not your main residence. As your home loan broker, we explain those differences and connect you with the lenders who work in this space regularly.

Second Home Loans

Investment Property Loans

Investment property loans are for buyers who want to purchase a rental property, a multi-unit building, or a home they do not plan to occupy as a primary residence. These loans often require larger down payments and carry different rate structures. We work with investor clients regularly and connect you to lenders familiar with this loan type.

Investment Property Loans

Refinance A Loan

Browse refinance options below. Need Assistance? We can help you choose the right loan for your situation.

Mortgage Refinancing

Refinancing replaces your current mortgage with a new one. Common reasons to refinance include getting a shorter loan term, changing your rate structure, or switching from an adjustable rate to a fixed rate. We compare refinance loan options from multiple lenders so you are not limited to what one bank offers.

Mortgage Refinancing

Cash-Out Refinancing

A cash-out refinance replaces your existing mortgage with a larger loan. You receive the difference between the two balances in cash at closing. Homeowners use this for home improvements, debt payoff, and other major expenses. We help you understand how much equity you can access and which lenders offer the best terms.

Cash-Out Refinancing

Home Equity Refinancing

If you have owned your home for several years, you may have built up more equity than you realize. A home equity refinance replaces your current mortgage with a new, larger loan. The difference comes back to you as cash, which many homeowners use for improvements, education costs, or other major expenses.

Home Equity Refinancing

Debt Consolidation Refinancing

If you are carrying high-interest debt, such as credit card balances, personal loans, or medical bills, a debt consolidation refinance may simplify your monthly obligations. This type of refinance rolls that debt into your mortgage. One payment replaces several, often at a lower overall interest rate.

Jumbo Home Loans
location

Serving Homebuyers Throughout Iowa

Our office is based in Waukee, and we proudly help homebuyers and homeowners throughout the entire state of Iowa.

  • West Des Moines
  • Des Moines
  • Waukee
  • Clive
  • Urbandale
  • Johnston
  • Windsor Heights
  • Ankeny
  • Altoona
  • Pleasant Hill
  • Norwalk
  • Grimes
  • Carlisle
  • Cumming
  • Bondurant
  • Polk City
  • Saylorville
  • Valley Junction

Mortgage FAQs

Find quick answers to common questions about home loans, refinancing, pre-approvals, interest rates, and the mortgage process.

What is a mortgage broker, and how is First Rate Mortgage different from a bank?

A mortgage broker works with multiple lenders rather than offering a single institution’s products. When you work with First Rate Mortgage, we compare options across lenders to find rates and terms that fit your situation — something a bank cannot do, because a bank can only offer what it has. As a licensed Iowa mortgage broker (NMLS Company #2667), First Rate Mortgage shops the market on your behalf, which can mean better options and more personalized guidance than a traditional bank loan officer provides.

How long does the mortgage process take with First Rate Mortgage?

Every mortgage is different, but many pre-approvals can be completed the same day once the necessary information is received. After your file is complete, underwriting typically takes one to two days, and many home loans can close in about two to three weeks, including FHA and VA loans in many cases.

The timeline depends on a few things such as the loan type, the property’s requirements, and how quickly requested documents are provided. Angela personally monitors every loan throughout the process to help keep everything moving as efficiently as possible while keeping you informed every step of the way.

What should I have ready when I contact First Rate Mortgage for the first time?

You do not need to have everything perfectly organized before reaching out. A general sense of your income, monthly debts, and what you are hoping to accomplish — whether that is buying a home or refinancing — is enough to start a productive conversation. Our team will walk you through exactly what documentation will be needed as the process moves forward. The goal of the first call is to understand your situation and point you in the right direction, not to overwhelm you with a checklist.