GO
MENU
Watch Video

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 $777 million to provide affordable housing opportunities to more than 110,000 families and individuals.

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 2022 AHP application period closed on June 13, 2022.

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:

2022 Down Payment Product funding opened January 4, 2022.

News

Updated Down Payment Agreement Member Announcements Updated Down Payment Agreement In order to access FHLB Des Moines Down Payment Products in 2023, all members must sign an updated Affordable Housing Program Subsidy Agreement for Homeownership Down Payment Products. In the News: Federal Home Loan Bank of Des Moines Celebrates 90 Years Public Announcements In the News: Federal Home Loan Bank of Des Moines Celebrates 90 Years Recently published in the Minnesota Bankers Association News Magazine, Ken Johnson, President/CEO of North Shore Bank shares stories of how local lenders collaborate with FHLB Des Moines and other organizations to help address the shortage of affordable housing in the Twin Ports community. Assistance Offered to Households Displaced by Hurricanes Fiona and Ian Public Announcements Assistance Offered to Households Displaced by Hurricanes Fiona and Ian The Division of Federal Home Loan Bank Regulation of the FHFA is issuing this Non-Objection Letter to allow vacant AHP-assisted rental units to be leased temporarily to individuals/households, regardless of their income, who are displaced because of Hurricanes Fiona and Ian. Assistance Offered to Households Displaced in Kentucky Public Announcements Assistance Offered to Households Displaced in Kentucky The Federal Housing Finance Agency (FHFA) recently issued a statement to allow vacant AHP-assisted rental units to be leased temporarily to individuals/households, regardless of their income, who were displaced by the Kentucky Severe Storms, Flooding, Landslides, and Mudslides (Disaster) July 2022.

See all articles regarding news about FHLB Des Moines.

Educational Resources

Maximize Your Down Payment Funds Through Community Partnerships Article Maximize Your Down Payment Funds Through Community Partnerships With FHLB Des Moines Down Payment Products, member institutions have the option to partner with third-party organizations to reach low-to-moderate homebuyers outside of their customer base. Community Investment Advance Makes Rehabilitation of Historic Site Possible: A Case Study Case Study Community Investment Advance Makes Rehabilitation of Historic Site Possible: A Case Study Without the partnership between member CDFI Great Minnesota Housing Fund and FHLB Des Moines, the rehabilitation and renovation of the historic Cloquet Middle School may not have occurred. Affordable Housing Program Overview Video/Webinar Affordable Housing Program Overview In this video, we illustrate how the Affordable Housing Program has helped strengthen the foundations of community throughout the 13 states and three US Pacific Territories we serve. Speed Up Your Reservation Process Article Speed Up Your Reservation Process Funds for our down payment programs continue to be in high-demand and we want to highlight easy ways to avoid any delays in processing.

See all educational resources regarding this topic.