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.

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.

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.

FHLBank Des Moines Home$tart is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required. 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.

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.

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

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