The Federal Home Loan Bank of Des Moines awards $15,000 grant to Decorah Bank & Trust

(Left to right): Decorah Bank & Trust Co. moirtgage bankers Muriel Lensch, Mike Huinker and Wanda Walter

The Federal Home Loan Bank of Des Moines has awarded a $15,000 "Strong Communities Fund" grant to Decorah Bank & Trust.

The program assists individuals and families who are unable to pay the upfront costs of owning a home, such as the down payment, closing cost, counseling or rehabilitation of property.

The grant will allow the bank to give $1,500 to ten eligible homebuyers to offset their down payment or closing costs.  Decorah Bank & Trust Co. mortgage banker Mike Huinker says, "The biggest obstacle that prevents people from becoming a homeowner is often the upfront costs. This grant is a fantastic tool to boost the likelihood of homeownership for several community members."

More information about the first-come, first-serve Homeownership Fund grant, is available from any of the mortgage officers at Decorah Bank & Trust at 202 East Water Street in Decorah.