Residential Lending Advances

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

Application & Forms

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 at 800-544-3452, ext. 2400 for assistance in a request for funds.


  • Provides affordable housing (owner-occupied housing, rental housing and manufactured housing parks) by assisting households with incomes up to 115% of Area Median Income
  • Reduces interest rate risk of long term advances
  • Fixed rate advances from one year to 30 years
  • Priced below regular advance rates
  • Minimum borrowing amount $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 used to support individual housing units, multiple units of owner-occupied housing (cooperatives or subdivisions), multi-family units and manufactured housing parks.

Loans may be new originations or refinance, though some restrictions apply to refinance of rental property and manufactured housing parks.

The Bank permits one-to-four family mortgage loans originated and sold in the secondary market to be used to obtain a residential advance.

All loans used to qualify for 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.

Loans are eligible if they serve low- to moderate-income households (up to 115% Area Median Income) or fund properties located in targeted areas. Rental projects providing affordable rents are eligible.

Ways to Qualify Loans:

  • Target lending area (115% Area Median Income)
  • Target Income (household below 115% for a family of four)
  • Affordable rents (rental projects)
  • Mortgage Revenue Bonds or Mortgage Backed Securities

What information is required?

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 (property) location
  • Loan closed date
  • Loan amount (funded amount
  • Borrower income and HUD Median Family Income if qualified by household 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 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. Please note that the loans identified to obtain the advance are not collateral for the advance. Collateral has been pledged separately and the advance will offset that collateral. In addition, an approved Request for Funds does not provide a rate-lock or reservation of an advance rate. Rates are determined at the time of the advance.