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FHLBank Des Moines Home$tart

Federal Home Loan Bank of Des Moines (through participating member financial institutions) · Missouri

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See what you qualify forOfficial program site →
Assistance

$15,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is FHLBank Des Moines Home$tart?

FHLBank Des Moines Home$tart is a grant for homebuyers in Missouri, administered by Federal Home Loan Bank of Des Moines (through participating member financial institutions).

  • Home$tart is a down payment and closing cost assistance grant program offered by FHLBank Des Moines through its participating member financial institutions. It serves qualifying first-time homebuyers across the FHLBank Des Moines district, which includes Missouri. Funds are released quarterly on a first-come, first-served basis and accessed through a participating member lender.
  • Grant of $15,000 ($25,000 for households purchasing in Hawaii) toward down payment and closing costs for qualifying first-time homebuyers.
  • Funding comes from FHLBank Des Moines Affordable Housing Program (AHP) set-aside.

How much assistance does it provide?

FHLBank Des Moines Home$tart offers up to $15,000 in assistance.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Des Moines (through participating member financial institutions) determines any individual award.

Do you have to pay it back?

FHLBank Des Moines Home$tart is structured as a grant, so it is not repaid.

  • Repayment is triggered by Prorated repayment if home sold within 5 years (forgiven for sale at a loss, sale to another LMI buyer, or foreclosure).
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHLBank Des Moines Home$tart is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • Must work with a participating FHLBank Des Moines member financial institution; not all lenders participate. Household income at or below 80% of area median income. Funds are first-come, first-served with a limit of $150,000 per member per down payment program; releases occur quarterly (2026: Jan 2, Apr 1, Jul 1, Oct 1) and frequently exhaust quickly. Five-year retention/deed restriction requiring prorated repayment if the home is sold within five years (forgiven for sale at a loss, to another LMI buyer, or foreclosure). As of the April 1, 2026 release, funds were fully reserved; check current availability through a member lender.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

FHLBank Des Moines Home$tart limits household income to 80% of the area median income, which varies by county and household size.

  • Income-eligible owner-occupant households at or below 80% of area median income (size-adjusted).
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

FHLBank Des Moines Home$tart serves buyers purchasing anywhere in Missouri.

How do you apply?

Applications for FHLBank Des Moines Home$tart go through Federal Home Loan Bank of Des Moines (through participating member financial institutions), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Federal Home Loan Bank of Des Moines (through participating member financial institutions) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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