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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 $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

Five-Year Collaboration Between FHLB Des Moines and Northwest Area Foundation Yields Strong Results for Native-led Initiatives Public Announcements Five-Year Collaboration Between FHLB Des Moines and Northwest Area Foundation Yields Strong Results for Native-led Initiatives Funds granted to Native Community Development Financial Institutions positively impact Native communities. FHLB Des Moines Awards More Than $40 Million in Affordable Housing Grants to Benefit 67 Projects Public Announcements FHLB Des Moines Awards More Than $40 Million in Affordable Housing Grants to Benefit 67 Projects Through a collaborative effort between FHLB Des Moines member financial institutions and local housing organizations, more than $40 million will be awarded to 67 affordable housing projects across the Bank's 13-state district, impacting over 2,100 families and individuals. FHLB Des Moines Awards $41.3 Million in Affordable Housing Grants to Benefit 63 Projects Public Announcements FHLB Des Moines Awards $41.3 Million in Affordable Housing Grants to Benefit 63 Projects The Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank) is pleased to announce the recipients of its 2020 Competitive Affordable Housing Program awards. 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.

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.