FHLBank Des Moines Home$tart Down Payment Program

What is FHLBank Des Moines Home$tart Down Payment Program?

FHLBank Des Moines Home$tart Down Payment Program is a grant for homebuyers in Statewide, Wyoming, administered by Federal Home Loan Bank of Des Moines (via member institutions).

• Home$tart provides eligible first-time homebuyers a $15,000 grant for down payment and closing costs (plus up to $250 for homebuyer education), delivered by FHLB Des Moines member institutions in the Bank's district (which includes Wyoming). The grant is secured by a 5-year self-extinguishing deed restriction and forgiven pro rata over 60 months.
• $15,000 grant toward down payment and closing costs.
• Layerable.
• May be any lien position.
• Funding comes from FHLB Des Moines Affordable Housing Program.

How much assistance does it provide?

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

• Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Des Moines (via member institutions) determines any individual award.

Do you have to pay it back?

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

• Repayment is triggered by Sale, refinance, or loss of owner-occupancy within the 5-year deed-restriction term (forgiven pro rata over 60 months).
• 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 Down Payment Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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

• At or below 80% of area median income by household size and county; includes all current and intended household members.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

FHLBank Des Moines Home$tart Down Payment Program can be used for Single Family, Manufactured, and 2-4 Unit.

• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

FHLBank Des Moines Home$tart Down Payment Program serves buyers purchasing in Statewide, Wyoming.

How do you apply?

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

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact Federal Home Loan Bank of Des Moines (via member institutions) to reserve funds

   Funds are reserved through Reservations via DP Online (eAdvantage) by member bank prior to closing; 2026 round Jan 2 - Dec 31, 2026., and are subject to availability.

3. 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.