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Affordable Housing Products

Solutions to meet critical affordable housing needs.

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Affordable Housing Programs allow members to support their communities with a source of equity in the form of grants.

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 $844.4 million to provide affordable housing opportunities to more than 124,000 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 2023 AHP application period is now closed. Awards will be announced in December, 2023. 

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:

2023 Down Payment Product funding opened January 3, 2023.

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News

FHLB Des Moines seeks applications for three Affordable Housing Advisory Council positions Public Announcements FHLB Des Moines seeks applications for three Affordable Housing Advisory Council positions Through Friday, September 1, 2023, FHLB Des Moines is accepting applications for three open Affordable Housing Advisory Council (Advisory Council) positions designated to represent the affordable housing and/or community lending needs in Idaho, Iowa and Montana. 2023 Affordable Housing Program Information Now Available Member Announcements 2023 Affordable Housing Program Information Now Available Full details for the Federal Home Loan Bank of Des Moines Down Payment Products are now available in the 2023 Implementation Plan. FHLB Des Moines Awards $25.6 Million in Affordable Housing Grants to Benefit 42 Projects Public Announcements FHLB Des Moines Awards $25.6 Million in Affordable Housing Grants to Benefit 42 Projects Through a collaborative effort between FHLB Des Moines member financial institutions and local housing organizations, more than $25 million will be awarded to 42 affordable housing projects across the Bank's 13-state district, impacting over 1,500 families and individuals. One Roof Community Housing Congratulates FHLB Des Moines 90th Anniversary Public Announcements One Roof Community Housing Congratulates FHLB Des Moines 90th Anniversary For One Roof, FHLB Des Moines provides crucial funding that fills gaps for those looking to purchase a home.

See all articles regarding news about FHLB Des Moines.

Educational Resources

Local lenders are key to addressing affordable housing needs Video/Webinar Local lenders are key to addressing affordable housing needs Learn how FHLB Des Moines members utilize grants from our down payment programs and the Competitive Affordable Housing Program to clear the major hurdles of entering homeownership as well as preserve and construct affordable housing in their communities. Engaging Native Voices has Proven Results for Indian Country Article Engaging Native Voices has Proven Results for Indian Country FHLB Des Moines Director Elsie Meeks reflects on the Bank's efforts to promote Native-led affordable housing and economic opportunity in Indian Country. 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.

See all educational resources regarding this topic.