Affordable Housing Programs

In addition to providing on-demand liquidity to member financial institutions, the FHLBank System promotes community development through two of the nation's most successful ongoing housing initiatives: the Affordable Housing Program and the Community Investment Program.

The Affordable Housing Program (AHP) encourages innovative lending efforts by FHLBank members supporting homeownership financing programs and the availability of rental housing for low- to moderate-income applicants. FHLBank members can access these subsidies through the AHP Competitive Application Program and the AHP Homeownership set-aside Program. In 2024, the FHLBanks contributed approximately $751 million toward AHP. The FHLBanks also offered over $200 million in funding through homeownership set aside program.

The Community Investment Program (CIP) and Community Investment Cash Advance (CICA) Program also support the FHLBanks' core mission by providing advances to members to assist the financing of housing or other economic development initiatives to benefit low- and moderate-income households and neighborhoods. In 2024, the FHLBanks provided approximately $7.9 billion combined through the CIP and CICA program.

In addition to required AHP assessments under the FHLBank Act, an FHLBank's board of directors may elect to make voluntary contributions to its AHP or other community investment programs. In connection with that, and in recognition that additional funding would be beneficial in meeting community needs in affordable housing as well as business and community development, the FHLBanks have increased their voluntary contribution levels.

Additional information on these programs is available from the Community Investment Officer at any FHLBank, or from the Federal Housing Finance Agency:

400 7th Street, SW
Washington, DC 20219
(202) 649-3800
FHFAinfo@fhfa.gov

Data Source: Federal Housing Finance Agency Report to Congress 2024