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