Affordable Housing Program (AHP)

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 HLB's discretion.

Benefits to Members:

  • Gain CRA credit for successful participation
  • Strengthen the community you serve
  • Build relationships with non-profit groups and businesses

2019 ROUND OF AFFORDABLE HOUSING PROGRAM GRANT FUNDING

The Federal Home Loan Bank of New York (FHLBNY) is pleased to announce that, on February 25, 2019, it will begin accepting applications for its 2019 Round of Affordable Housing Program grant funding.

This year marks the 50th round of AHP grants for the FHLBNY, which has supported 1,833 projects with more than $740 million in AHP grants, helping to create or preserve more than 85,000 units of affordable housing and generating an estimated $12 billion in total development costs. 

The FHLBNY will hold a number of training sessions for its members in communities across the region to provide additional information on the 2019 AHP Round. More information on these training sessions, as well as dates, locations and registration information, is available at the following link:

AHP Training Sessions

Eligible Uses of AHP Funds:

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

Program Deadlines

FHC offers monthly enrollment periods due the 10th of each month or the following applicable business day.

AHP Success Stories

Pond View Homes
Member: Flushing Bank
Project Name: Pond View Homes

Independence Crossing
Member: Citibank
Project Name: Independence Crossing

Morgan Village
Member: New Jersey Housing & Mortgage Finance Agency
Project Name: Morgan Village

› Other Success Stories

Questions?

Email us at ahp@fhlbny.com.