Skip to main content

Menu

Close
  • Home
  • About
    • Overview
    • Who We Are
    • Leadership
    • News & Press Releases
    • Careers
    • Corporate Citizenship
    • Supplier
    • Government Relations
    • Investor Relations
    • Corporate Governance
    • State Impact
  • Products & Services
    • Overview
    • Advances
    • Mortgage Partnership Finance
    • Affordable Housing
    • Letters of Credit
    • Strategies
    • Member Services
  • Resource Center
    • Overview
    • Educational Resources
    • Communications
    • Event Calendar
    • Useful Links
    • Glossary
  • Member Support
    • Overview
    • Capital Stock
    • Member Directory
    • Member Announcements
    • eAdvantage
    • Collateral
    • Membership
    • Member Credit
  • Careers
  • Logins
    • eAdvantage
    • eMPF
    • AHP Online
    • Safekeep Direct
  • Contact Us
close alertIn observance of Memorial Day, modifications to our usual services will occur beginning Friday, May 23. The Bank will be closed on Monday, May 26. View Holiday Hours Schedule.
GO
FHLB Des Moines MENU
  • Products & Services
    • Advances
    • Mortgage Partnership Finance
    • Affordable Housing
    • Letters of Credit
    • Strategies
    • Member Services
  • About
    • Who We Are
    • Leadership
    • News & Press Releases
    • Careers
    • Corporate Citizenship
    • Supplier
    • Government Relations
    • Investor Relations
    • Corporate Governance
    • State Impact
  • Resource Center
    • Educational Resources
    • Communications
    • Event Calendar
    • Useful Links
    • Glossary
  • Member Support
    • Capital Stock
    • Member Directory
    • Member Announcements
    • eAdvantage
    • Collateral
    • Membership
    • Member Credit
  • Careers
  • Contact Us
  • Logins
    • eAdvantage
    • eMPF
    • AHP Online
    • Safekeep Direct
  • Search
Home /  Products & Services /  Affordable Housing /  Native American Homeownership Initiative /  Disbursement/Reimbursement
SECTION MENU

Affordable Housing

  • AHP Housing Sponsors
    • Application
    • Homeownership Project Administration
    • Rental Project Administration
    • Sponsor Training for Rental Project Awards
    • Technical Assistance
      • Introduction
        • Application Process
        • Sponsors and Members
        • Who is FHLB Des Moines?
      • Eligibility and Feasibility
        • Construction Cost Calculator
        • Eligibility Requirements
        • Feasibility Requirements
        • Feasibility Workbook
        • Ineligible Uses of AHP Funds
      • Scoring Criteria
        • Donated or Discounted Property
        • Non-Profit or Government Sponsor
        • Income Targeting
        • Economic Opportunity or Empowerment
        • Underserved Communities
        • Community Stability
        • Bank District Priority
      • Application and Resources
        • Contact Us
        • FAQ's
      • Webinars
        • Q&A Webinar
    • Supporting Documentation Guidelines
  • AHP Member Institutions
  • Home$tart®
    • Get Started
    • Reservation of Funds
    • Disbursement/Reimbursement
    • Forms and Resources
  • Native American Homeownership Initiative
    • Get Started
    • Reservation of Funds
    • Disbursement/Reimbursement
    • Forms and Resources
    • Native Contact Directory
  • Income Limits and Purchase Price Limits
  • Lien Release or Subordination
  • Educational Resources
  • Resource Guide for Homebuyers
  • Voluntary Programs
  • Member Impact Fund 2025
  • Member Impact Fund 2025 MN

Disbursement/Reimbursement

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

After the Reservation has been approved, the FHLB Des Moines member will have 120 days to close the mortgage loan and request the Disbursement. View FHLB Des Moines processing times. Following FHLB Des Moines review, members who submit a disbursement request after January 1, 2021, will have 120 cumulative days to provide any requested documentation necessary to complete the disbursement. Additional details on this disbursement expiration timeline are available below.

  • Note: Members must fund the grant at the mortgage loan closing and will be reimbursed at Disbursement.

If there is a holdback or escrow for rehab/repairs or new construction, submit the Disbursement request immediately upon closing. The Bank will defer Disbursement until all construction or repairs are completed and documentation of payout of escrowed funds per Bank guidelines is submitted for review.

After the Disbursement has been approved, the FHLB Des Moines member will receive the grant funds via transfer to the member’s DDA account.

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

Disbursement / Reimbursement: Native American Homeownership Initiative

  • Documents Required for Disbursement
    1. All first-time homebuyers: copy of the homebuyer education course class certificate(s). Both homebuyer and co-buyer will need to take the course and complete the documentation if they are on title and first-time homebuyers.
    2. Final Mortgage Closing Disclosure or applicable settlement statement for 1st mortgage and 2nd mortgage if applicable.
    3. Certificate of Borrower Eligibility signed by the member. This document is created within the DP Online system from information collected on previous screens.
      • Note: If the Adobe Reader error is received, please use the “Print PDF” link on the screen.
    4. Copy of Recorded Deed Restriction (Retention Agreement) for fee simple or Native Trust Lands  and the executed Warranty Deed.
    5. If applicable, Repair/Rehab Worksheet combined with documentation of payment (provide as one PDF).
      • Note: All funds for Rehab/Repair must be distributed through escrow as reflected on the final Closing Disclosure. Unused escrow must be paid to loan principal.
    6. If applicable, Property Inspection Report demonstrating completion of rehabilitation.
  • Step 1: Initiate and Complete the Disbursement

    Log into DP Online through eAdvantage. Select the reservation number or homebuyer last name on the “Dashboard” homepage. Please note that disbursement requests can only be submitted for households with a status of “Reservation Request Eligible”.

    Once you select the correct homebuyer or Reservation, you will be directed to the Reservation screen to initiate the disbursement request. Hover over the “Initiate” button in the navigation bar near the top of the page and then click “Disbursement”.

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

    • Note: To gain access to the Disbursement Home screen to complete a previously initiated disbursement, click on the Disbursement ID number in the dashboard.

    All of the required steps on the Disbursement 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 Disbursement is only completed once the “Submit” button on the Disbursement Home screen has been clicked.

  • Step 2: Respond to Clarification Requests

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

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

Processing Times for Disbursements

  • Please allow 30 days for review of disbursement requests. 
  • Disbursements are processed in the order they are received. 
  • If there is a holdback or escrow for rehab/repairs or new construction, submit the Disbursement request immediately upon closing. The Bank will defer Disbursement until all construction or repairs are completed and documentation of payout of escrowed funds per Bank guidelines is submitted for review.

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

Time Limits on the Disbursements of Funds

All disbursement requests submitted after January, 1, 2021 will have 120 cumulative days following the initial review by FHLB Des Moines to provide any requested documentation necessary to complete the disbursement. Time for FHLB Des Moines review does not count towards this 120-day time limit.

  • The Member Dashboard within DP Online has been enhanced to display expiration dates for disbursement requests under, "Disbursement Request Clarification Pending."
  • Members will receive an email 30 days prior to expiration reminding them to complete the disbursement.  
  • Disbursement timelines for loans where the member has escrowed funds for new construction or rehabilitation remain unchanged and still have 1 year from disbursement submission to complete the disbursement process.  
  • Extensions may be requested when necessary.  

Additional Resources

  • Disbursement Checklist
  • Deed Restriction (Fee Simple)
  • Deed Restriction (Native Trust Lands)
  • Technical Assistance Guide

Disbursement Training Webinars

The Down Payment team is offering weekly trainings on the Reservation and Disbursement process for members enrolled in Down Payment programs.

View Calendar

Navigation

Products & Services

  • Advances
  • Mortgage Partnership Finance
  • Affordable Housing
  • Letters of Credit
  • Strategies
  • Member Services

About

  • Who We Are
  • Leadership
  • News & Press Releases
  • Careers
  • Corporate Citizenship
  • Supplier
  • Government Relations
  • Investor Relations
  • Corporate Governance
  • State Impact

Resource Center

  • Educational Resources
  • Communications
  • Event Calendar
  • Useful Links
  • Glossary

Member Support

  • Capital Stock
  • Member Directory
  • Member Announcements
  • eAdvantage
  • Collateral
  • Membership
  • Member Credit

From The Desk

This daily newsletter from our Strategies Team provides subscribers with current rate indications and economic commentaries on a daily basis.

Subscribe

Impact Report

Our 2024 Impact Report highlights the numerous ways in which FHLB Des Moines fulfills our mission through partnerships with our members and community stakeholders.

Read Now

Follow Us

Get connected with FHLB Des Moines on our social media platforms.

  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
FHLB - Des Moines

HEADQUARTERS
909 Locust Street
Des Moines, IA 50309
Phone: 800.544.3452
Fax: 515.699.1293
Location details

Copyright © . Federal Home Loan Bank of Des Moines

Terms of Use | Chatbot Disclaimer | Privacy | Contact Us | Logins

California Consumer Privacy Act

Site by Spinutech

Get Adobe ReaderDownload Adobe Reader

Back to top
Community Investment Assistant icon
Community Investment Assistant icon Affordable Housing Virtual Assistant collapse Community Investment Assistant