Homeownership Program Changes

posted on Thursday, March 28, 2019 in Business News

Homeownership programs provided by Federal Home Loan Bank of Des Moines require members and sponsors to income qualify households for the Home$tart® Program, Native American Homeownership Initiative (NAHI) and the Competitive Affordable Housing Program (AHP). 

After conducting a review of the programs, we have determined that changes are necessary to the guidelines and forms for income calculation and certification to ensure the integrity of the programs in the future and to assist members and sponsors with compliance. 

Down Payment Products (DP): Home$tart and NAHI 

Revised income calculation guidelines and forms are now available to members to prepare for the opening of the Home$tart and NAHI programs on April 1, 2019. Members should use these forms for reservations of households in the 2019 programs. 

Details of 2019 Changes to Down Payment Products

Competitive Affordable Housing Program (AHP) 

For the Competitive Affordable Housing Program (AHP), sponsors with homeownership projects in progress should transition to these new guidelines and forms for all households being enrolled beginning April 1, 2019 

New Guidelines and Forms 

Changes to Income Calculation Guidelines include: 

  • Who to include in a household
  • Sources of income and required income documentation
  • Household members with no income
  • Income inclusions and exclusions
  • Instructions for calculating annual income

Changes to the Income Calculation Workbook include: 

  • Expanded instructions
  • Household Summary requiring additional signatures
  • Notes section to help FHLB Des Moines staff understand your income calculation

Click on the links below for copies of the new guidelines and forms. You will also find these on the Affordable Housing Program pages of our website.

Please read and review the new guidelines and forms and contact us with any questions at communityinvestment@fhlbdm.com or 800.544.3452, ext. 2400.