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Affordable Housing Program – Apply
The 2017 round of the Affordable Housing Program is now closed. The 2018 funding round will open on June 25. Applications will be due on August 16, with an additional week for members to review, and awards will be announced in December. Training sessions will be announced late in the first quarter. For more information, please contact a member of the Housing and Community Investment department.

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
Membership