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Affordable Housing Products

Solutions to meet critical affordable housing needs.

FHLB Des Moines offers a variety of products to support the purchase, construction or rehabilitation of affordable housing. Since the inception of the Affordable Housing Program in 1990, FHLB Des Moines has awarded $700 million to provide affordable housing opportunities to more than 120,000 families and individuals.

2020 CID Round Schedule

Competitive Affordable Housing Program

The Competitive Affordable Housing Program encourages partnerships between our member financial institutions and local housing providers (sponsors) to secure funds for the purchase, construction or rehabilitation of affordable homeownership or rental housing units.

Get Started:

The 2020 AHP application period opens on May 1, 2020.

Technical Assistance:

We are now offering Technical Assistance on demand to help sponsor housing organizations prepare AHP applications.

Down Payment Products

Our member financial institutions have access to grant funds to provide down payment and closing cost assistance to income eligible owner-occupant households.

Down Payment Products:

2020 Down Payment Product funding opened on January 1, 2020.

News

Changes to Retention Agreement (Deed Restriction) for Home Purchase Projects Member Announcements Changes to Retention Agreement (Deed Restriction) for Home Purchase Projects The Competitive Affordable Housing Program (AHP) and Down Payment Product grants will be releasing a new Retention Agreement (Deed Restriction) effective for use with closings as of January 1, 2020. Retention Agreement Changes for AHP Owner-Occupied Rehabilitation Projects Member Announcements Retention Agreement Changes for AHP Owner-Occupied Rehabilitation Projects Effective January 1, 2020, the FHLB Des Moines member institution or project sponsor of a Competitive Affordable Housing Project (AHP) may cease requiring a Retention Agreement (Deed Restriction) on owner-occupied rehabilitation projects. Reinstatement of Repayment Requirement for Competitive Affordable Housing Program and Down Payment Products Member Announcements Reinstatement of Repayment Requirement for Competitive Affordable Housing Program and Down Payment Products FHLB Des Moines has established new procedures and updated forms for lien releases, repayment or subordination of liens. $51.5 Million in Affordable Housing Grants to Benefit More Than 2,600 Families and Individuals Public Announcements $51.5 Million in Affordable Housing Grants to Benefit More Than 2,600 Families and Individuals A collaborative effort between financial institutions and community housing providers will create affordable housing opportunities for more than 2,600 low-income families and individuals this holiday season.

See all articles regarding news about FHLB Des Moines.

Educational Resources

Community Investment Advance Paycheck Protection Program Lending Application Article Community Investment Advance Paycheck Protection Program Lending Application In light of the unprecedented need for lending due to the COVID-19 pandemic, Federal Home Loan Bank of Des Moines is temporarily expanding our Community Investment Advance (CIA) product to accept loans from Paycheck Protection Program (PPP)-eligible entities who did not previously qualify. Low-income Families Experience Home Ownership Case Study Low-income Families Experience Home Ownership Greater Des Moines Habitat for Humanity was awarded Competitive Affordable Housing Program funds in 2014 to provide homeownership opportunities for low-income buyers. Quick Reference Guide for Completing your Community Investment Advance (CIA) Application Article Quick Reference Guide for Completing your Community Investment Advance (CIA) Application Three key things to remember when completing a Community Investment Application. Home$tart Reservation and Disbursement Approval Assistance Article Home$tart Reservation and Disbursement Approval Assistance Avoid these common challenges to obtaining Home$tart grant funding.

See all educational resources regarding this topic.