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 2021, the FHLBanks made available approximately $314.7 million in AHP subsidies nationwide. From 1990, the AHP's first year, through 2021, the FHLBanks awarded approximately $7.3 billion in AHP subsidies, assisting more than one million households.

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 2021, the FHLBanks issued approximately $1.7 billion in CIP advances for housing projects and approximately $32.2 million for economic development projects. In 2021, the FHLBanks provided approximately $1 billion in CICA advances for economic development projects, such as commercial, industrial, and manufacturing projects, social services, and public facilities.

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

Data Source: Federal Housing Finance Agency Report to Congress 2021