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Federal Home Loan Bank of Des Moines

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Homeownership Forms

Below you will find Competitive Affordable Housing Program homeownership instructions, forms, workbooks and other resources for Headquarters Office* projects originated in 2014 and prior years. If you have any questions or require additional assistance with any of the materials provided below, please contact our Community Investment Department at 800.544.3452, ext. 1173.

*Headquarters Office programs were offered to members in the following states: Iowa, Minnesota, Missouri, North Dakota and South Dakota.

Member and Sponsor Instructions

Refer to the instructions provided below for guidance on project administration and use of forms.

Subsidy Transfer Request Form

Submit a Transfer Request Form to FHLB Des Moines with each request for funds. The form must be signed by an authorized signer of the member financial institution supporting the competitive AHP project.

Monitoring Spreadsheets by Project Type

All households assisted in a competitive AHP project must be identified on an applicable project spreadsheet. The spreadsheet will also provide information about the household and competitive AHP assistance received, which is needed for project monitoring.

Feasibility Review Workbook

Workbooks are completed for AHP project monitoring for projects approved in 2014 and years prior. Refer to the instructions for examples of completed Workbooks.   

Construction or Rehabilitation Cost Certification

Itemization and cost certification for construction or rehabilitation costs in development projects including new construction and acquisition-rehabilitation. 

Income Guidelines, Limits and Calculation of Income 

Refer to FHLB Des Moines Income Determination Guidelines for help in determining qualifying income sources for a household. Use the Calculation of Income Worksheet Instructions for help in calculating income and completing the Calculation of Income Worksheet. When determining income eligibility refer to the applicable income limits. 

Retention Agreement (Deed Restriction)

A legally enforceable deed restriction with a term of five years must be executed by each assisted household. The forms provided below are for use on fee simple land and on tribal trust land. Additional forms are available on request for mobile homes or for use with land trusts. 

Important: FHLB Des Moines expresses no opinion and makes no representation as to the validity or enforceability of these retention documents in each state. Please consult an attorney to ensure this document meets the requirements for a deed restriction or other legally enforceable retention agreement or mechanism in the applicable state.

Recapture of Funds

A form is provided to assist in calculation of recapture of a subsidy provided through the competitive AHP upon the sale or refinance of a home. This form calculates the amount of subsidy that has not been forgiven at the date of sale or refinance. This must be paid from any net gain (i.e. net proceeds). To the extent that there is no net gain, no recapture is due. In a refinance no recapture is due if the Retention Agreement will remain in place following the refinance. A subordination form for that purpose is provided. Additional instruction is provided on the Calculation of Recapture form.

Extension Request

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