Application
To obtain a Housing Affordability Advance, an application must be submitted that identifies the population of purchased or originated eligible mortgages held on the member’s balance sheet. An advance equal to or less than the unpaid principal balance of the mortgage loans provided may be obtained, subject to the limits noted below.
Members may submit multiple Housing Affordability Advance applications subject to the following limits in 2026:
- Minimum Advance: $100,000 per application
- Maximum Limit: $5 million aggregate limit per member
For assistance, contact the Community Investment Department.
Submit an Application
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The application must be signed by an authorized advance representative of the member who will certify that the information provided to qualify for the advance is true and correct.
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It will also require a signature from the partnering Habitat for Humanity® affiliate or non-depository CDFI (CEO, CFO, or designee) to certify the population of eligible mortgages provided is true and correct.
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Housing Affordability Advances are subject to the terms and conditions contained in the Bank’s Member Products Policy. Disbursement of advance funds remains subject to the Bank’s normal credit and collateral requirements.
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Email the completed application to CommunityInvestment@fhlbdm.com. Applications are typically reviewed within five business days or less.
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Members will be contacted when the advance is approved and they will have 10 business days to call FHLB Des Moines and take down the advance. An approved application is not a reservation of funds. Applications are funded on a first-come, first-served basis, subject to the availability of funds.
*Alternative documentation with equivalent information is acceptable