Federally Declared Disaster Areas

If you are located in a Federal Disaster Area, you may be eligible for a Community Investment Advance. To determine if you are in a Federal Disaster Area and for more disaster related information, visit the FEMA website at www.fema.gov.

Members in Federal Disaster Area Eligible for Community Investment Advances

FHLB Des Moines members located in a Federal Disaster Area are eligible for Community Investment Advances which can be used to fund loans to help finance repair or reconstruction of residences or businesses damaged by disasters. The standard requirements of FHLB Des Moines credit and collateral policies apply to these special advances which can be obtained for terms from six months to 20 years.

The FHLB Des Moines per member Community Investment Advance limit of the greater of 15% of non-Community Investment Advances or $5 million is being waived for any member borrowing funds for a Federally Declared Disaster Area. For more information, please call the Community Investment Department at 800.544.3452 ext. 1173.

To be considered a Disaster Loan, a loan should be made in a Federal Disaster Area and loan funds must be used to pay expenses directly related to the disaster. In addition, all residential and rental loans qualified under this category must meet other Loan Qualifications of the Community Investment Advance Program. Typically, the member must qualify disaster loans within the first six months of the disaster declaration.