With low inventory and rising home prices, your borrowers may need additional downpayment assistance. Minnesota Housing allows loans to be layered with other community grants or loans. If your company is a member of the Federal Home Loan Bank of Des Moines (FHLB Des Moines), consider participating in the their downpayment programs.
Funds are available on a first-come, first-served basis to FHLB Des Moines members for households with an annual income at or below the 80% AMI, using the HUD limits by county or state and household size (or NAHASDA limits for the Native American Homeownership Initiative). There is no fee to join this program.
To opt in to the program and for more information, contact Jessica Grant at 206.340.2464.