Common Misconceptions of Community Investment Advances

last updated on Wednesday, November 6, 2019 in Advances

Are you maximizing your community impact on housing and economic development projects through Community Investment Advances (CIA)? All FHLB Des Moines members are provided a Community Investment Advance limit of $10 million on these long term fixed rate advances at lower rates for eligible residential and commercial loans and investments.

There are a few common questions and misconceptions that we wanted to debunk about using CIAs to ensure all members feel confident using these advances.

“Do CIAs have the same <80% Area Median Income (AMI) requirement as the Affordable Housing Program?”

 The answer is no.  

To be eligible for a Community Investment Advance, the borrower/ tenant income must be at or below 115% of AMI for Residential Lending Advances.  Or, for Residential Lending Advances and Commercial Lending Advances, loans will qualify if the borrowers home or business is located in a census tract below 115% of AMI (for Residential, and for Commercial in rural areas) or 100% of AMI (for Commercial in urban areas). Commercial loans also qualify based on small business qualification.

Instruction for determining qualification is included in application forms on our website, or contact the Community Investment Department for assistance.

“Do only affordable housing loans qualify for CIAs?”

The answer is no.

Many residential and commercial loans qualify for use of CIA funding. While Residential Lending Advances focus on loans originated to purchase, construct, rehabilitate or refinance affordable owner occupied and rental housing, Commercial Lending Advances are for loans originated to support commercial, agricultural, industrial, manufacturing, social service, public facilities projects and activities, and public and private infrastructure projects such as roads, utilities and sewers.  

View the full eligibility for Residential Lending Advances.

View the full eligibility for Commercial Lending Advances.

Ready to start your application for a CIA? Follow our quick reference guide.

Want to learn more about CIAs? Visit our information page here.

Important: The standard requirements of FHLB Des Moines credit and collateral policies apply. In addition, an approved Request for Funds is not a reservation of funds. Applications are funded on a “first-come, first-served” basis, subject to the availability of funds. A Request for Funds does not provide a rate-lock or reservation of an advance rate. Rates are determined at the time of the advance.


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