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Supporting Housing with Low-Cost Advances

Our Community Investment Program (CIP) provides members with favorably priced advances to support affordable housing initiatives within their communities. CIP advances can be used to finance land acquisition, construction or rehabilitation of owner-occupied and rental housing for qualified households. They can also be used to purchase low-income housing tax credits.

Program Requirements

FHLB Dallas members, excluding housing associates and state housing finance agencies, are eligible to receive CIP advances. Household incomes for single units of owner-occupied housing projects must have household incomes at or below 115 percent of the area’s median income (AMI). Multiple units of owner-occupied housing such as a subdivision, condominium or new neighborhood development, and rental projects must have at least 51 percent of household incomes at or below 115 percent of the AMI. CIP advances must be used to finance loans that have closed within the past three months or will originate within the next three months from the date of the commitment.


CIP advances are noncompetitive and available to our member institutions throughout the year. Members must complete a written application and provide a Transaction Verification Form to prove that the CIP advance was used toward the qualifying project. CIP advances can be fixed rate or floating rate, amortizing or non-amortizing. The terms range from three months to 30 years (for rental housing developments, the amortization term can extend up to 40 years), and the term of the CIP advance may not exceed the term of any financing that the member makes to the project. If FHLB Dallas determines that the CIP advance was improperly used, it may be converted to a comparable market interest rate.


Members of FHLB Dallas using CIP are required to comply with the Member Products and Credit Policy established by FHLB Dallas.

To apply, download the Community Investment Program Application, and for additional information review the Member Products and Credit Policy.

Completed applications and supporting documentation may submitted via email to the Member Services Desk or fax to 214.441.8514.