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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:

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

  • 1-to-4 unit houses
  • Co-ops
  • Condos
  • Apartments
  • Single-room occupancy facilities
  • Shelters
  • Transitional housing
  • Mutual housing associations
  • Group Homes

Questions?

Email us at [email protected]

AHP Success Stories

Member: Banco Popular de Puerto Rico
Project Name: El Zorzal Apartments
Sponsor: Lucha Contra El Sida Inc.
Member: HSBC Bank USA
Project Name: CAMBA Gardens Phase II
Sponsor: CAMBA Housing Ventures