The Affordable Housing Program (AHP) is a competitive grant award program that awards funds to projects that create or rehabilitate affordable housing. Grants are awarded for both owner occupied and rental housing projects. Households served must be at or below 80 percent of the area median income.
Applications are made by sponsors that are supporting affordable housing projects. Sponsors are typically non-profit corporations, government entities, local housing authorities and Native American Tribes. Sponsors require the support of a Federal Home Loan Bank of Des Moines member financial institution to apply for funds.
If you have questions about the program or need additional information, please contact the Community Investment Department at 800.544.3452, ext.1173.
Announcements
In 2011, the FHLB Des Moines awarded $15 million in grants to 45 projects that will create or rehabilitate 1,734 homes or apartments that will house families with children, seniors, persons with disabilities and people who are homeless. The projects will create brand new homes, rehab existing, and bring quality housing to both urban and rural communities throughout our five state district. To view a map of project locations, click here. For a full list of grant recipients, click here.
In 2012, the maximum AHP subsidy award in the competitive Affordable Housing Program will be $300,000 for a single project, subject to a limit of $30,000 for each unit assisted. There will be a limit of $1.0 million of approved projects per member charter in a single funding period. The application period for the 2012 Affordable Housing Program grant closed at 4:00 PM Central Time on May 15. Grant recipients will be announced in December 2012.
Additional Resources
AHP Application and Resources
Homeownership Forms
Rental Forms
Income Limits and Purchase Price Limits
