Press
Release
For Immediate Release:
December 13, 2006
Contact:
Angie Richards
515.281.1014
arichards@fhlbdm.com
SIOUX FALLS FINANCIAL
INSTITUTIONS GIVE THE GIFT OF
HOMEOWNERSHIP
’Tis the season for making dreams
come true and this year it has
special meaning for low- to
moderate-income individuals and
families in Sioux Falls and
Brookings.
A generous holiday “gift” of grants
totaling $250,000 from the Federal
Home Loan Bank of Des Moines to
three local financial institutions
will help more than 30 individuals
and families living in Sioux Falls
and Brookings achieve the dream of
owning their own home.
Through two funds – Urban
Homeownership and Urban First-Time
Homeownership – the Home Loan Bank
has awarded a $50,000 grant to Home
Federal Bank in Sioux Falls and
$100,000 grants to each First Bank &
Trust in Sioux Falls and Brookings,
S.D. Each is currently developing a
process to distribute the funds to
qualified homebuyers.
The Home Loan Bank programs are
designed for homebuyers at certain
income levels. To be eligible for
the grants, Sioux Falls and
Brookings homebuyers must be at or
below 80 percent of the area’s
median income, and all buyers must
complete a course in financial
literacy. Qualified applicants will
be eligible for up to $5,000 each
towards the purchase of a home.
For more information about the Urban
Homeownership programs, call:
Home Federal Bank, Sioux Falls,
605.333.7532
First Bank & Trust, Sioux Falls,
605.978.9300
First Bank & Trust, Brookings,
605.696.2200
