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: Native American Homeownership Initiative