Press
Release
For Immediate Release:
December 4, 2006
Contact: Angie Richards
515.281.1014
arichards@fhlbdm.com
Federal Home Loan
Bank Awards $8 Million in Housing
Grants in 2006
Funds Give Families a Home for
the Holidays
(Des Moines, Iowa) – The Federal
Home Loan Bank of Des Moines (FHLB)
awarded more than $8 million in
housing grants this year, making the
holidays brighter for more families
throughout its five-state district.
FHLB members could reserve funds
through several Bank programs to
provide down payment, closing cost
or rehabilitation assistance to
eligible, low-income homebuyers in
their communities. Funds, which the
homebuyer does not have to pay back,
were available to assist both rural
and urban homebuyers in Iowa,
Minnesota, Missouri, North Dakota
and South Dakota.
“Having a home for the holidays is
something that many individuals and
families only dream about,”
commented Richard S. Swanson, FHLB
President and CEO. “At the Home Loan
Bank, we provide our members with
more affordable housing
opportunities to help make the dream
of homeownership a reality for the
people in the communities they
serve. It’s exciting for us to know
that our affordable housing programs
have impacted deserving families and
made their holidays better by giving
them a home to call their own.”
The Bank awarded over $8 million in
grants through four housing programs
in 2006. The programs included the
Native American Homeownership
Initiative ($450,000); Urban
Homeownership Fund ($1.8 million);
Urban First-time Homebuyer Fund
($2.3 million); and the Rural
Homeownership Fund ($3.5 million).
More information about these and
other Community Investment programs
is available on the Bank’s website
at
www.fhlbdm.com.
