The 2016 AHP closed on September 13.
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
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).
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