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Affordable Housing Program (AHP)

The AHP facilitates the development of affordable rental housing and homeownership opportunities for very low-, low-, and moderate-income households. Through a competitive application process, the Bank provides grants to members to finance their affordable housing initiatives.


Key Advantages

Key Features


Each year, the Bank contributes 10% of its net income for the preceding year, after assessments for the Resolution Funding Corporation, to the AHP. The majority of the funds are made available through the competitive application program. In addition, a portion of the funds are allocated to the Bank's homeownership set-aside programs, which provide matching grants for very low-, low-, and moderate-income homebuyers. 

Eligibility Requirements

The application package that the Bank makes available before each round includes a complete list of the eligibility standards a project must meet to be considered for an AHP award, including any limits on the amount of subsidy available on a per project or per member basis.

Application Review and Ranking

For each project that meets all eligibility standards, the Bank evaluates the application based on the extent to which the project meets the priorities and objectives of the program relative to the other applications submitted in that round. The Bank scores the applications on the basis of pre-established criteria, which are described in the application package. The Bank ranks all applications based on this scoring process and awards funds to the highest-ranking projects, in order, until all funds available in the round have been awarded.


The AHP is administered in accordance with the Federal Home Loan Bank Act, the applicable regulations and policies of the Finance Agency, and the applicable requirements and policies of the Bank. All AHP subsidies are governed by these laws, regulations, and policies, as amended from time to time. In addition, all AHP subsidies are subject to the applicable subsidy agreements among the Bank, the member, and the project sponsor/owner. Members receiving AHP subsidies must meet the Bank’s standards of creditworthiness.

Monitoring, Retention, and Recapture

Members and project sponsors/owners that receive AHP subsidies are required to submit periodic certifications and project reports with appropriate documentation to the Bank. If AHP subsidies are not used in accordance with the AHP regulations and project application, the member, project sponsor/owner, or both, will be required to take steps to bring the project into compliance or, if necessary, to repay the subsidy. The member’s and project sponsor/owner’s responsibilities and obligations regarding monitoring, retention, compliance, and repayment are described in detail in the Bank’s AHP subsidy agreement and the applicable Finance Agency regulations.
It is the responsibility of the member and project sponsor to present legal documentation to the Bank showing that the AHP project is subject to a deed restriction or other legally enforceable retention agreement or mechanism that meets the applicable requirements of the Finance Agency regulations. That responsibility includes:

The Bank will not review the member’s AHP retention documents for the purpose of determining the legal enforceability of the documents. Rather, the Bank expects and relies on the member to prepare and submit to the Bank retention documentation as necessary to satisfy all of the AHP regulatory standards and requirements relating to retention, including without limit, the requirement that the AHP deed restriction, retention agreement, or other proposed retention mechanism is legally enforceable by the member against the project. The Bank has prepared sample retention documents that address the minimum retention requirements of the AHP Regulation. These sample documents are available for use by members and sponsors on the Bank's website.


Last Modified: April 2018