Affordable Housing Products

Solutions to meet critical affordable housing needs.


$46 million awarded through AHP in 2023!

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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 $895.1 million to provide affordable housing opportunities to more than 127,000 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.

2024 is a great year to apply! Make a greater impact in your community with larger grant awards available this year. Apply for a grant award up to $3 million per project or $150,000 per unit.

Get Started:

The 2024 AHP application period is open. Applications will be accepted through May 1, 2024, 4:30 PM Central Time

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:

2024 Down Payment Product funding round opened on January 2, 2024.


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