2015 Headquarters Homeownership Fund
The Homeownership Fund was a grant program offered through December 31, 2015 that provided funds to FHLB Des Moines member financial institutions in Iowa, Minnesota, Missouri, North Dakota and South Dakota for down payment and closing cost assistance to eligible households. The program made grant awards up to $15,000 to members to assist eligible households with the purchase of an owner-occupied residence. Members may award up to $5,000 to households. Households are required to be at or below 80 percent of the area median income. See the Program Guidelines below for additional information.
2015 Homeownership Fund: $2,072,000 was awarded to members for this program. For a list of members awarded funds, click here (PDF).
Homeownership Fund Guidelines and Forms
- 2015 Program Guidelines (PDF)
- Definitions and Acronyms (PDF)
- Checklist for a Successful Program (PDF)
- Certification and Draw Request Form (Word)
- Instructions for the Certification and Draw Request Form (PDF)
- Income Determination Guidelines (PDF)
- Calculation of Income Worksheet (Excel)
- Calculation of Income Worksheet Instructions (PDF)
- Retention Agreement (Word) (Deed Restriction)
- Recapture of Funds (Excel) or Subordination Agreement (Word)
- Financial Literacy Resources (PDF)
- FHA Minimum Cash Investment Letter (PDF)
Please see our Income Limits and Purchase Price Limits (Opens in New Window) for applicable income and home purchase price limits by state.