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Affordable Housing Program – Apply
The 2017 round of the Affordable Housing Program will open on July 17. Applications will be due on September 6 and awards will be announced in December. For more details on the 2017 AHP Round, please see the 2017 AHP Round AnnouncementAdobe PDF icon and 2017 Notice of ChangesAdobe PDF icon.

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.

 
 
Rates Specials
Products and Solutions Guide Adobe PDF icon
Membership