Advances are based on lenders' asset size and other FHLB criteria. Loans from lenders to individual borrowers can vary with lenders' criteria. Equity requirements vary among lenders. FHLB criteria for advances varies based on specific lender size, assets, etc. The program is available only for financial institutions which are members of the FHLB System.
Membership is open to thrifts, commercial banks, credit unions and insurance companies.
Members are required to own stock in the FHLB in proportion to their qualified mortgage assets and earn a market rate of return on investment.