2009 Native American Homeownership Initiative

Native American Homeownership Initiative Funds Available Beginning January 2, 2009

Effective January 2, 2009, FHLB Des Moines will allocate $1 million of its annual Affordable Housing Program contribution to members to help eligible households purchase single family owner-occupied properties in Native American Service Areas. If you have any questions about the program, please contact Evelyn Bengtson at 800.544.3452, ext. 1064.

Please read the Program Guidelines for 2009. Program guidelines have been updated.

Changes for 2009 include:

• Financing concessions, such as discounted origination fees, are no longer required.
   

• All HUD Section 184 loans are eligible for NAHI assistance in any location, and households obtaining HUD Section 184 loans do not need to be eligible for housing assisted with grants provided under NAHASDA pursuant to a policy adopted by a tribe or tribally designated housing entity.
   

• There are additional requirements for compliance with anti-predatory lending laws and regulations.
   

• Acquisition cost of all properties purchased by eligible households must be at or below the maximum purchase price limit for the locality established by the applicable State Housing Finance Agency.
   

• If real estate property owned by a member providing an AHP subsidy is sold to a household by the member, or the member holds a mortgage or lien on real estate property sold to the household, the property should be sold at fair market value, as evidenced by an appraisal. The Bank will request and review documentation on any applicable disbursement.

Important: Any member funding a 2008 NAHI commitment between January 1, 2009 and March 31, 2009 must utilize the 2008 program guidelines and submit the 2008 Certification & Draw Request Form. For 2008 forms, click here.

Please see the AHP Forms page for additional resources, documents and forms for this program. This includes:

• Sample Retention Agreement for loans not made on Tribal lands

• Forms for calculation of borrower household income

• Forms for recapture of subsidy

2009 HUD Income Guidelines
Effective March 19, 2009
Income Guidelines for AHP Rental or Homeownership projects. All documents are PDFs. "Very low income" is defined as 50% AMI and "low-income" is defined as 80% AMI.

• Iowa
• Minnesota
• Missouri
• North Dakota
• South Dakota

2009 MRB Income Levels
Effective May 1, 2009
Only for owner-occupied units. All documents are PDFs.

• Iowa
• Minnesota
• Missouri
• North Dakota
• South Dakota