The Affordable Housing Program (AHP) allows the Federal Home Loan Bank of Boston to address, in partnership with member institutions, affordable-housing needs primarily in communities across New England. A portion of the Bank's net earnings funds the program, which awards grants and low-interest advances, or loans, through member institutions.

How the AHP Works
The AHP encourages local planning of affordable-housing initiatives. The Bank's member institutions work with local housing organizations to apply for funds to support initiatives that serve very low- to moderate-income households in their communities.

Each year, funding for projects submitted to the AHP by member institutions is awarded in two competitive rounds. 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.