2022 Affordable Housing Program Now Available
last updated on Tuesday, January 4, 2022 in Business News
Full details for the Federal Home Loan Bank of Des Moines Down Payment Products are now available in the 2022 Implementation Plan.
Below is an overview of key program details for 2022.
2022 Down Payment (DP) Programs:
|
2022 Total Program Allocations* |
Member Cap* |
| Home$tart® |
$6,000,000 |
$80,000 |
| NAHI |
$400,000 |
$80,000
|
*Please note: Both the allocations and cap have changed for 2022. Member cap is not a guarantee of program funds. Funds are available on a first-come, first-served basis.
Quarterly Release of 2022 Down Payment Program Funds
Down Payment Program funds will be released quarterly on the following schedule:
| Date of Funds |
Home$tart Amount* |
NAHI Amount* |
| Tuesday, January 4, 2022 |
$1,500,000 |
$100,000 |
| Friday, April 1, 2022 |
$1,500,000 |
$100,000 |
| Friday, July 1, 2022 |
$1,500,000 |
$100,000 |
| Monday, October 3, 2022 |
$1,500,000 |
$100,000 |
*Please note: Both the Home$tart and NAHI amounts have changed for 2022. Funds are subject to availability.
New Deed Restrictions
FHLB Des Moines has made changes to the Deed Restriction. Closings scheduled after January 1, 2022, need to use the new Deed Restriction.
Previous versions of the Deed Restriction executed after January 1, 2022, will be sent back to the member institution for release of the old Deed Restriction. A new version of the Deed Restriction will need to be executed and recorded prior to disbursement. To avoid delays in processing your disbursements, please ensure you are using the updated Deed Restriction which is available on our Forms and Resources and disbursements page.
2022 Competitive Affordable Housing Program (AHP) Details
|
2022 Project Limits |
| Subsidy Per Project |
$750,000 |
| Subsidy Per Unit |
$40,000 |
Key AHP Program Dates
| Date |
Description |
| March 1, 2022 |
Technical Assistance Available |
| May 2, 2022 |
Application Period Opens |
| June 3, 2022 |
Application Period Closes |
| December 2022 |
2022 Awards Announced |
- Affordable Housing Program
- Community Investment Programs
- Home$tart