Reservation of Funds

The reservation is the first part of obtaining the grant for a household. The second part is the disbursement, steps for which are detailed separately.

In these steps outlined below, the FHLB Des Moines member will hold funds for a specific household.

Once the member initiates the reservation, they will have 10 calendar days to complete and submit it for review before it expires.

Once the reservation has been submitted, FHLB Des Moines staff typically reviews the request to determine income eligibility within 10 calendar days.

  • Note: The reservation will not expire while it is under FHLB Des Moines review.

After the reservation has been approved, the FHLB Des Moines member will have 120 days to close and request the disbursement as a reimbursement.

Below are the steps to initiate and submit a reservation through Down Payment Online (DP Online).

Reservation of Funds: Home$tart®

  • Documents Required for Reservation
    1. Copy of appraisal only if one or more of the following applies:
      • Related party transaction (Site Selection screen)
      • REO property (Site Selection screen)
      • FHLB Des Moines grant to be passed through to non-profit or other 3rd party (Eligibility screen)
    2. Household Summary Sheet from Income Calculation Workbook signed by all borrowers on title for the household (Homeowner Selection screen)
    3. Certificate of Zero Income if applicable. (Homeowner Selection screen)
    4. Signed Purchase & Sale Agreement (Eligibility screen)
    5. Income Calculation Workbook must be uploaded in .xls format (Household Income screen)
    6. All income verification documents for all sources of income. All income documents must be scanned and uploaded as one PDF document. (Household Income screen)
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  • Step 1: Log-in to DP Online

    The user at the member financial institution with assigned access to DP Online must log-in through eAdvantage to initiate the reservation process.

    Refer to pages 7-8 of the Down Payment Online Manual for log-in instructions.

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  • Step 2: Complete the Income Calculation Workbook

    Before initiating a new reservation in DP Online, you will need to complete the Income Calculation Workbook using the AHP DP Income Calculation Guidelines. You can compare the household’s annual income to the appropriate HUD or NAHASDA Income Limits to determine eligibility. The “Household Summary” tab in the Income Calculation Workbook will need to be printed and signed by all borrowers on title for the household.

    Refer to page 13 of the Down Payment Online Manual for an example.

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  • Step 3: Initiate the Reservation

    Ensure correct program is showing in the funding round dropdown on the Dashboard.

    Click “Initiate” in the top left hand corner of the “Dashboard” homepage in DP Online and then click “Reservation”.

    As you navigate DP Online, please be aware that you must press the “Save” button on each screen to successfully save your changes before proceeding.

    Refer to pages 10-12 of the Down Payment Online Manual for navigation instructions.

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  • Step 4: Complete the Screens

    Scan and attach the completed, signed “Household Summary” tab of the Income Calculation Workbook to the “Homeowner Selection” screen in DP Online. Please note that you will need to retain the entire Income Calculation Workbook in .xls format for later upload to the “Household Income” screen in DP Online.

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  • Step 5: Submit the Reservation

    Once you have completed and saved all screens in DP Online, click “Home” in the bottom right hand corner to return to the “Reservation Home” screen.

    All of the required steps on the “Reservation Home” screen must be completed with a green check mark before clicking “Submit”. Any steps with a red x or yellow check mark must be completed before continuing.  The reservation is only completed once the “Submit” button on the Reservation Home screen has been clicked.

    Refer to pages 15-16 of the Down Payment Online Manual for more detailed instructions and examples.

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  • Step 6: Complete the Income Calculation Workbook

    FHLB staff will conduct a review of the reservation request. If there are any questions or additional information is needed, our staff will initiate a reservation clarification request in DP Online, which will trigger an automatic email to be sent to all users associated with the reservation. The user will need to address the clarification requests within the reservation screens in DP Online.

    Refer to pages 17-18 of the Down Payment Online Manual for more information on responding to a reservation clarification request.

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