2026 AHP Reminders and Notice of Changes

Notice of Changes

Federal Home Loan Bank of Boston (FHLBank Boston) made several programmatic and technical changes to the Affordable Housing Program (AHP) for the 2026 AHP funding program. The program updates are summarized below.

For full details, instructions, and other information, visit our website and the 2026 AHP Implementation Plan. Contact information for your community investment manager and the entire Housing and Community Investment department is included in this notice. We look forward to working with you.

2026 Application Deadlines

Below is a list a deadlines for members and sponsors to consider for the 2026 Affordable Housing Program round:

  • The AHP funding round opens on Monday, June 1, 2026. Applications are due by 3:00 p.m. on Thursday, July 16, 2026.
  • Member financial institutions have a separate and extended online application review period. Members must complete the online application review of each of their submitted AHP applications by 3:00 p.m. on Thursday, July 30, 2026.
  • Funding awards will be announced by December 24, 2026.
  • Applications are submitted through our Community Lending Portal.
  • Housing developers, consultants, and lenders new to AHP must first create community lending log-in accounts through the portal linked above.
  • We are offering three online training sessions in May for you to learn more about this year’s changes. Recorded versions of these trainings will also be available through YouTube. The dates are:
    • May 12 – Members’ only training
    • May 19 – AHP scoring
    • May 21 – AHP feasibility

Supporting Community Development Comprehensively

FHLBank Boston realizes its mission to support affordable housing and economic growth by offering a full slate of financial products and services to help our member financial institutions invest in their communities. Our Housing and Community Investment programs support small business lending, mortgage financing, and community development capital. Our Housing and Community Investment department staff will provide the technical assistance you need to effectively access our programs to serve your communities.

2026 AHP Application and Subsidy Limits

  • The maximum AHP subsidy per application is $1,000,000, including both the AHP direct subsidy and the advance interest-rate subsidy.
  • The maximum direct subsidy for homeownership initiatives is $100,000 per unit.
  • There is no limit to the number of applications that a member may submit. However, the maximum approval limit per member is 25% of the total AHP subsidy available.

Project Cost and Feasibility Guidelines (2026 AHP Implementation Plan – Attachment A)

Attachment A

Below are updates to align with FHFA Advisory Bulletin AB-2024-05. The Bulletin eliminates the requirement to assess the need for subsidy using both development and operating budgets; it now relies solely on the sources and uses in the development budget. FHLBank Boston will continue to evaluate development feasibility, need for subsidy, and operational feasibility against typical industry standards and those of other material funders.

  • Eligible Households – Relocation. To improve clarity and consistency, the following changes have been made to this section:
    • Approved relocation plan does not include daytime relocation only (i.e., residents leave during the day and return overnight).
    • Projects relying solely on daytime relocation will be required to submit a current rent roll at the time of the AHP application.
    • A “current rent roll” is defined as the sponsor’s recertification of resident household income no earlier than January 1 of the calendar year prior to the application year. (i.e. January 1, 2025, for the 2026 AHP application round)
    • If an approved relocation plan is not utilized, the project’s income targeting of current residents must meet income eligibility standards at the time of application.
    • When an approved relocation plan is utilized in lieu of a current rent roll, sponsors are required to recertify household incomes at project completion to confirm alignment with the project’s approved income targeting.
  • Feasibility Guidelines. The following feasibility guidelines have been modified as noted below:
    • Material Funders – Defined as “a primary financial partner (investor, lender, or government entity) that provides a significant portion of the capital required to acquire, develop, or rehabilitate a property.” References in the Implementation Plan to “key” or “major” funders are included under the “Material Funders” definition.
    • Management Fees – Removed from Feasibility Guidelines.
    • Net Cash Flow as a Percent of Effective Gross Income – Removed from Feasibility Guidelines.
    • Debt Service Coverage Ratio – Range has been expanded to cover 1.0x to 1.50x to better align with other funders and project cash flows.
    • Capitalized Operating Reserves – The requirements of material funders may be utilized to determine the acceptability of capitalized operating reserves.
    • Deviations – FHLBank Boston will review and may accept deviations to our Feasibility Guidelines, on a case-by-case basis, when the application meets the standards, acceptance, or approval by one or more material funders.

Affordable Housing Program Scoring Guidelines (2026 AHP Implementation Plan – Attachment B)

Attachment B

Listed below are the scoring categories that have been modified for the 2026 application round. Please refer to the AHP Scoring Checklist and the 2026 AHP Implementation Plan for full details.

  • Removed Inclusion of Minority- and Women-owned Business Enterprises on the Development Team
  • Added a new category for Previously Incarcerated Individuals (3.5 points)
  • Added a new category for Native American Households (3.5 points)
  • Adjusted scoring and documentation requirements to the Community Stability sub-categories, including Community Land Trusts, Smart Growth/Transportation/Sustainability, and Efficient and Healthy Building Operations.
  • Modified Housing for Homeless Households to base scoring on the percent of total units reserved for homeless households. The prerequisite that a minimum of 50% of total units be vacant or new construction has been removed.
  • Adjusted the Effectiveness (Subsidy per Unit) range for homeownership subsidy per unit between $25,000-$100,000.
  • Clarified Use of Donated Government Property or Other Properties specifying sponsors must provide sufficient documentation demonstrating the transaction is arm’s length and free of any disqualifying factors.
  • Modified Promotion of Empowerment templates. The Resident Services Coordinator (RSC) template has been discontinued. Projects utilizing an RSC should follow the revised guidance on the appropriate template to select. Revised disclaimer regarding a sponsor’s alteration of Bank-provided templates.
  • Modified Promotion of Empowerment eligible services to include, “Resident Community Engagement/Community Building Activities” as an option under the Resident Involvement and Decision-Making category.
  • Clarified Member Financial Participation language regarding the proration of the 2 additional points for long-term member financial participation awarded for member loans with terms between two and five years.

2026 Online Application Changes and Reminders

  1. Sponsors can identify and register your development consultant as part of the online Sponsor Registration.
  2. Changes to the application cannot be accepted after submission.
  3. The Sources and Uses Template, Social Services Budget, and Operating Proforma are required documentation. Failure to submit may result in disqualification of your application.
  4. FHLBank Boston will review all project costs, related expenses, and fees in accordance with its AHP Implementation Plan.
  5. FHLBank Boston may compare and review submitted applications with other material funders.
  6. FHLBank Boston reviews applications against our Project Costs and Feasibility guidelines to determine developmental and operational feasibility, and developmental need for subsidy. We expect all data and documentation to be consistent with the information provided to other funders.
  7. Applications or future disbursements may be denied or disqualified for unexplained or excessive costs or fees.
  8. Applicants need to use the correct, current year templates.

Thank you for your interest and participation in the 2026 Affordable Housing Program.

Contacts

You can reach your Community Investment Manager and the Housing and Community Investment Department by phone or email:

  • Kathleen Amonte: Connecticut, Rhode Island, and Southeastern Massachusetts, including Barnstable, Bristol, Dukes, Nantucket, and Plymouth counties as well as communities outside New England
  • Milton Baptista: New Hampshire and Western, Central, and Eastern Massachusetts, including Berkshire, Franklin, Hampshire, Hampden, Worcester, Middlesex, Norfolk, and Suffolk counties
  • Tobi Goldberg: Maine and Essex County, Massachusetts
  • Michael Pingpank: Vermont, and program management, long-term monitoring and reporting, refinancing, completion of AHP affordability obligations, as well as other programmatic and regulatory questions
  • Theo Noell
  • Livia Bourque
  • Ken Willis