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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 $567 million to provide affordable housing opportunities to more than 106,000 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.

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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:

News

$52.6 Million in Affordable Housing Grants to Benefit More Than 3,800 Families and Individuals Member Announcements $52.6 Million in Affordable Housing Grants to Benefit More Than 3,800 Families and Individuals Low-income families, seniors, persons with disabilities, homeless, and at-risk youths will benefit from more than $52.6 million in affordable housing grants this holiday season. FHLB Des Moines Appoints Two New Members to Advisory Council Member Announcements FHLB Des Moines Appoints Two New Members to Advisory Council Robert (Bob) Peterson Jr. with the Washington State Housing Finance Commission (WSHFC) in Seattle, Washington and Sean Hubert with Central City Concern in Portland, Oregon have been appointed to the Federal Home Loan Bank Des Moines (FHLB Des Moines) Advisory Council. $750,000 in Affordable Housing Grants Awarded to Red Lake Band of Chippewa Indians Public Announcements $750,000 in Affordable Housing Grants Awarded to Red Lake Band of Chippewa Indians A development in Minneapolis, called Mino-bimaadiziwin, celebrated $750,000 in grants from the Federal Home Loan Bank of Des Moines (FHLB Des Moines) on Wednesday, April 4 to provide affordable housing for over 100 households. FHLB Des Moines Celebrates $1 Million in Missouri Affordable Housing Grants Public Announcements FHLB Des Moines Celebrates $1 Million in Missouri Affordable Housing Grants FHLB Des Moines Celebrates $1 Million in Missouri Affordable Housing Grants

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Educational Resources

Unlocking the Potential of Indian Country Article Unlocking the Potential of Indian Country Recently Federal Home Loan Bank of Des Moines announced a $5 million grant to the Northwest Area Foundation to help further economic development on Native lands. “Nothing Short of Magical” – See how AHP funds invigorated affordable housing in Duluth, MN Case Study “Nothing Short of Magical” – See how AHP funds invigorated affordable housing in Duluth, MN The former YWCA building of Duluth, Minnesota is just such a place that took years and hundreds of dedicated individuals to make a reality. While the final result is a beautiful and transformative living and gathering place, the project's beginning was beset with challenges. Using Home$tart to Increase Homeownership Case Study Using Home$tart to Increase Homeownership Opportunity Bank took advantage of the FHLB Des Moines Home$tart Program to meet the affordable housing needs of its community. Home$tart program Case Study Home$tart program "a generous surprise" With three locations, First National Bank Minnesota has used the Home$tart program to provide down payment assistance to new and existing customers alike. “Home$tart has been a tremendous help to us,” said Russell Blaschko, vice president of Mortgage Lending at First National Bank Minnesota.

See all educational resources regarding this topic.