The Federal Home Loan Bank of Des Moines is committed to helping its member financial institutions support affordable housing and economic development initiatives in the communities they serve. The Bank funds grant programs and provides low cost advances to support these initiatives.
Each year, the Bank sets aside 10 percent of its net earnings for affordable housing grant programs. These grants provide funding for the acquisition, construction or rehabilitation of low- to moderate-income affordable housing units for families and individuals. Programs include:
In addition, the Bank provides its members low-cost, long term fixed rate advances to support affordable housing and economic development projects through its Community Investment Advance (CIA) Pogram. These advances can also be used to assist households, businesses and farms recovering from natural disasters. Programs include:
