ST. LOUIS (3/21/11)--St. Louis Community CU and Better Family Life Inc. received two grants totaling $1 million from the Federal Home Loan Bank of Des Moines' Affordable Housing Program to assist residents in buying their first home or repairing a home. Of the $1 million, half will be allocated to help first-time home buyers with a down payment and closing costs (St. Louis Business Journal March 17). It also will help provide home ownership education for St. Louis city and county residents. Qualified buyers will be determined by income guidelines set by the Department of Housing and Urban Development. They will receive up to $3,300. The other half of the grant will go toward repairing qualified homes in the 26th Ward. Up to $10,000 is available for each project. Both programs are forgiveable in five years. Each year the Federal Home Loan Bank of Des Moines commits 10% of its annual net income to developing affordable housing.