Affordable Housing Program
Affordable Housing Program (AHP) General Fund Overview
AHP System is Live
The new AHP System is now live. AHP sponsors and members with an active AHP Project are now required to utilize the new system to submit supporting documentation for progress reporting, disbursement of AHP subsidy, and monitoring reviews.
We recommend enrolling as soon as possible by following the steps outlined on the AHP System page. System overview and additional training materials can be located under AHP Forms, Guidelines & Agreements.
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 grant 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. These 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:
| Rental Housing In which at least 20% of the project’s occupants must earn 50% or less of the area median income |
Owner-Occupied Housing In which households earn 80% or less of the area median income |
Eligible projects may include
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