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Loan Eligibility Guidelines and Checklists

General Eligibility - All Collateral Types
1-4 Family Residential - Conventional
1-4 Family First Mortgage and Participation  - Collateral Type Codes 1101, 1102, 1103, 3101, 3102 and 3103 only for whole loans. Collateral Type Codes 1461 and 1561 only for participation.
Commercial Single Family Residence (CSFR) Collateral Type Codes 1104 and 1105 only
1-4 Family First Mortgage - Held for Sale Collateral Type Code 1106 only
1-4 Family First Mortgage Construction Collateral Type Code 1431 only
1-4 Family Home Equity Mortgage Collateral Type Codes 1414 and 3414 only
HELOC First and Second Mortgage Collateral Type Code 1423 and 1424 only
Multi-Family Real Estate
Multi-Family First Mortgage and Participation Collateral Type Code 1109 only for whole loan. Collateral Type Codes 1470 and 1570 only for participation.
Multi-Family Second Mortgage Collateral Type Code 1401 only
Multi-Family First and Second Mortgage Lines of Credit Collateral Type Codes 1441 and 1442 only
Multi-Family First Mortgage Interest Only Collateral Type Code 1110 only
Commercial Real Estate
Commercial Real Estate First Mortgage and Participation Collateral Type Code 1402 only for whole loans. Collateral Type Codes 1471 and 1571 only for participation.
Commercial Real Estate Second Mortgage Collateral Type Code 1404 only
Commercial Real Estate First and Second Mortgage Lines of Credit Collateral Type Codes 1443 and 1444 only
Commercial Real Estate First Mortgage Interest Only Collateral Type Codes 1410 only
Agricultural Real Estate
Agriculture Real Estate First Mortgage and Participation Collateral Type Code 1407 only for whole loans. Collateral Type Codes 1472 and 1572 only for participation.
Community Financial Institution (CFI) Loans
Secured Business Loan Collateral Type Code 1616 only
Secured Agri-Business Loan Collateral Type Code 1617 only
Secured Business Line of Credit Collateral Type Code 1626 only
Secured Agri-Business Line of Credit Collateral Type Code 1627 only
Government Insured
For government agency guaranteed loans, checklists are not published. 

Upcoming Eligibility Changes

With the LIBOR cessation date set for June 30, 2023*, FHLB Des Moines has announced a timeline of future changes regarding LIBOR-indexed collateral.

VIEW TIMELINE