Income Calculation Workbook Training

View our Income Calculation Workbook training video to help you determine income eligibility for homeownership projects.

View Training

The reservation is the first step in obtaining the grant for a household. The second step is the disbursement, which are detailed separately.

In these steps outlined below, the FHLB Des Moines member will reserve funds for a specific household. View FHLB Des Moines processing times for reservations.

Expand each step for details and instructions to initiate and submit a reservation through Down Payment Online (DP Online).

Reservation of Funds: Home$tart®

  • Documents Required for Reservation
    1. Signed Purchase & Sale Agreement
    2. Copy of appraisal if one or more of the following applies:
      • Related party transaction
      • REO property
      • FHLB Des Moines grant to be passed through to non-profit or other 3rd party (more specifically, when the property being purchased is being financed by the seller)
    3. Income Calculation Workbook  (View Training Video)
    4. Household Summary form from the Income Calculation Workbook signed by all adult household members. This will be uploaded as a PDF.
    5. Certificate of Zero Income if applicable
    6. Household Questionnaire 
    7. Homebuyer Education Course Certificate for all first-time homebuyers on title.
    8. All income verification documents for all sources of income. All income documents must be scanned and uploaded as one PDF document.
  • Step 1: Initiate and Complete Reservation

    The down payment user at the member financial institution must log-in through eAdvantage to initiate the reservation process. Additional users can be added to DP Online by your systems E-Administrator. Steps to complete this process can be found in the eAdvantage/DP Online Access Manual.

    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 must compare the household’s annual income to the appropriate HUD Income Limits to determine eligibility. The HUD income limits can be accessed from the Banks website. The HUD Income Limits eligibility must be no more than 80 percent of the Area Median Income (AMI) using the higher of County or State Guidelines.

    • Note: To complete a previously initiated Reservation, click on the Reservation ID number in the dashboard.

    A Technical Assistance Guide is available for navigation instructions and steps to complete the Reservation.

  • Step 2: 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.

    A Technical Assistance Guide is available for navigation instructions and steps to complete the Reservation.

  • Step 3: Respond to Clarification Requests

    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.

    A Technical Assistance Guide is available for navigation instructions and steps to complete the Reservation.

Processing Times for Reservations

  • Please allow 30 days for review of reservation submissions. 
  • Reservations are processed in the order they are received. 
    • Timely, complete and accurate reservation submissions with sufficient time prior to closing from the contract execution date will offer the speediest turn times.​​​​​ Read our helpful guide for a smooth reservation process.
  • Respond to FHLB Des Moines requests for additional information or clarification for your submission to continue to move forward in the reservation process 
  • After the reservation has been approved, the FHLB Des Moines member will have 120 days to close and request the disbursement as a reimbursement.

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