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Affordable Housing Products

Solutions to meet critical affordable housing needs.

2023 AHP AWARD WINNERS

$46 million awarded through AHP in 2023!

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Affordable Housing Programs allow members to support their communities with a source of equity in the form of grants.

FHLB Des Moines offers a variety of products to support the purchase, construction or rehabilitation of affordable housing. Since the inception of the Affordable Housing Program in 1990, FHLB Des Moines has awarded $895 million to provide affordable housing opportunities to more than 127,000 families and individuals. 

Competitive Affordable Housing Program

The Competitive Affordable Housing Program encourages partnerships between our member financial institutions and local housing providers (sponsors) to secure funds for the purchase, construction or rehabilitation of affordable homeownership or rental housing units.

The 2024 AHP application period is  now closed. Awards will be announced in December 2024. 

Down Payment Products

Our member financial institutions have access to grant funds to provide down payment and closing cost assistance to income eligible owner-occupant households.

Down Payment Products:

2024 Down Payment Product funding round opened on January 2, 2024.

Voluntary Programs

FHLB Des Moines is continuously evaluating and developing innovative voluntary programs to increase its support for underserved and financially vulnerable populations in its district. Learn More. 

Explore Voluntary Programs:

  • Member Impact Fund
  • Maui Disaster Relief Funding
  • Mortgage Rate Relief

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News

Severe Storms in Nebraska and Oklahoma (Disasters) Member Announcements Severe Storms in Nebraska and Oklahoma (Disasters) The Division of Federal Home Loan Bank Regulation of the Federal Housing Finance Agency is issuing a Non-Objection Letter to allow vacant AHP-assisted rental units to be leased temporarily to individuals/households, who are displaced due to severe storms (disasters) in Nebraska and Oklahoma. Hawaiian Home Lands Lease Addendum Member Announcements Hawaiian Home Lands Lease Addendum Federal Home Loan Bank of Des Moines is pleased to announce the availability of a lease addendum, which was developed in partnership with the Department of Hawaiian Home Lands. FHLB Des Moines Seeks Appointment for Native, At-Large Advisory Council Position Public Announcements FHLB Des Moines Seeks Appointment for Native, At-Large Advisory Council Position Beginning June 10, 2024, Federal Home Loan Bank of Des Moines is seeking applications to appoint at-large Affordable Housing Advisory Council position that is designated to represent the affordable housing and community lending needs of Native communities. FHLBanks Anticipate $1 Billion in Support for Affordable Housing and Community Development Initiatives in 2024 Public Announcements FHLBanks Anticipate $1 Billion in Support for Affordable Housing and Community Development Initiatives in 2024 The Council of Federal Home Loan Banks announced that the FHLBank System expects to provide approximately $1 billion in support for affordable housing and community development initiatives in 2024.

See all articles regarding news about FHLB Des Moines.

Educational Resources

Affordable Housing Project Addresses Critical Housing Needs in Alaska Video/Webinar Affordable Housing Project Addresses Critical Housing Needs in Alaska Cook Inlet Housing Authority, a tribally-designated housing entity, revitalizes a brownfield site to create affordable senior housing in Eagle River, Alaska, using $650,000 Affordable Housing (AHP) grant in partnership with Northrim Bank Affordable Housing Project in Minneapolis Empowers Residents to Find their Place Video/Webinar Affordable Housing Project in Minneapolis Empowers Residents to Find their Place American Indian Community Development Corporation in partnership with Woodlands National bank utilize $800,000 Affordable Housing Program (AHP) grant from FHLB Des Moines to open Anishinabe III in Minneapolis, MN. Pocket Neighborhood Provides Affordable Homeownership Opportunities for Rural Iowa Case Study Pocket Neighborhood Provides Affordable Homeownership Opportunities for Rural Iowa Maquoketa State Bank partnered with East Central Development Corporation to develop a pocket neighborhood with help from funds they received from the Affordable Housing Program. Highlights from the Affordable Housing Program Video/Webinar Highlights from the Affordable Housing Program View three AHP stories illustrating the range of affordable housing solutions across our district.

See all educational resources regarding this topic.