Residential Lending Advances

Support affordable owner-occupied and rental housing in your community.

Application & Forms

A Residential Lending Advance in the Bank’s Community Investment Advance (CIA) program provides members a lower cost, long term advance to support loans originated to purchase, construct, rehabilitate or refinance affordable owner-occupied and rental housing. Please contact the Community Investment Department for assistance in a request for funds.


  • Provides affordable housing and promotes economic development
  • Can be used in targeted areas regardless of the income of the borrower
  • Reduces interest rate risk of long term advances
  • Fixed rate advances from one year to 20 years
  • Priced below corresponding regular advance rates
  • Minimum borrowing amount of $100,000

What loans may qualify?

Advances may be taken to support direct loans, purchased loan participations, and the purchase of mortgage revenue bonds or mortgage-backed securities if all of the loans purchased or financed by such bonds or securities can be shown to meet the eligibility requirements of the CIA program. Loans may be new originations or refinance, though some restrictions apply to refinance of rental property. Loans may be used to support individual housing units, multiple units of owner-occupied housing (cooperatives or subdivisions), multi-family units and manufactured housing parks. Loans are eligible if they serve low- to moderate-income households (below 115% Area Median Income) or fund projects located in targeted areas. Rental projects providing affordable rents are eligible. There are several targeted area designations including:

  • Target income area  (115 percent Area Median Income)
  • Native American area
  • Federal Empowerment Zone
  • Federal Champion Community
  • Federal Enterprise Community
  • Military base closing area
  • Brownfield tax credit area
  • Community adjustment and investment (CAIP) area

All loans used to qualify for a CIA must be originated within three months prior to the date of an advance or a member may take an advance based on loans to be closed. If the latter, a member must originate qualifying loans within 12 months of the date of the advance. 

What are information requirements?

At the time of the advance, or at the end of 12 months if applicable, the member must provide the Bank information to qualify the loans for the advance. Information collected to qualify a loan includes:

  • Borrower name
  • Borrower (project) location
  • Loan closed date
  • Loan amount
  • Borrower income, if qualified by Income
  • Rent schedule including number of units and maximum rent, if qualified by affordable rent

How is a request for funds made?

A member must submit a Residential Lending Advance Request for Funds form to the Community Investment Department with each advance request. The form must be complete and information certified by signature of a staff person of the member authorized to request advances. Please provide at least 24 hours for processing. 

Important: The standard requirements of FHLB Des Moines credit and collateral policies apply to all advances. 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.