The nation’s network of Federal Home Loan Banks (FHLBanks) expects to be required to increase its share of investments in affordable housing. The push will come from the Congress, where the COVID-19 pandemic rekindled discussions about a program established in the 1990s.
The Affordable Housing Program (AHP) requires that each of the 11 FHLBanks in America contributes 10% of the preceding year’s net income to the purchase, construction, or rehabilitation of homes. The total volume should not be lower than $100 million for each bank.
The resources help families with 80% or less of the area median income details ⇒
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