Affordable Housing Program
Affordable Housing Program (AHP) General Fund Overview
The 2021 Affordable Housing General Fund application period is now closed. Awards will be announced in the Fall.
Each year since 1990, the FHLBNY has set aside 10% of its private earnings to support the creation and preservation of housing for lower income families and individuals through the Affordable Housing Program (AHP). AHP funds are awarded to members who submit applications on behalf of project sponsors who are planning to purchase, rehabilitate, or construct affordable homes or apartments. Funds are awarded through a competitive process which typically takes place either once or twice a year, at the FHLBNY’s discretion.
Benefits to Members
- Gain CRA credit for successful participation
- Strengthen the community you serve
- Build relationships with non-profit groups and businesses
Eligible Uses of AHP General Fund Subsidy
Acquisition, construction, or rehabilitation of:
In which at least 20% of the project’s occupants must earn 50% or less of the area median income
In which households earn 80% or less of the area median income
Eligible projects may include