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Affordable Housing
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Affordable Housing Program – Apply

The 2018 AHP closed on August 2.

Rates and Terms

Subsidized loans (advances) and direct subsidies (grants) are available. The actual terms are determined by the member financial-institution applicant, based on the specific needs of the development.

Conditions of Funding

Member institutions and housing sponsors must report to the Federal Home Loan Bank of Boston on the use of funds. Unused or improperly used subsidies will be recaptured.

Initiatives must be retained as affordable for prescribed periods through a legally enforceable retention mechanism, generally a subordinate mortgage in the case of a direct-subsidy award and a first mortgage in the case of a subsidized-advance award. The Bank has developed several standard documents (See Forms and Applications).

Technical Assistance

Underwriting is the responsibility of the member institutions. The staff of the Federal Home Loan Bank of Boston is available to assist members and project sponsors in the development of plans for the use of AHP funds. Members and sponsors are encouraged to contact the community investment manager or relationship manager serving your area to discuss the program in detail.

AHP Implementation Plan Adobe PDF icon
Products and Solutions Guide Adobe PDF icon