Affordable Housing Program Opens May 1

Get ready! Our Affordable Housing Program (AHP) opens on May 1. The 2024 offering will be our largest offering to date, and there are some important changes to note:

• The maximum AHP subsidy per project increased from $1,000,000 to $1,500,000
• The maximum AHP subsidy per member increased from $5,000,000 to $9,000,000
• The maximum amount of subsidy per unit that a project may receive increased from $55,000 to $56,000 and the amount of subsidy per bed or owner-occupied rehab unit increased from $16,000 to $17,000
• The maximum interest rate on first mortgages decreased to 10.75 percent
• Projects with a current AHP award may not request more than a 10 percent increase in AHP subsidy if reapplying in 2024
• Ownership projects are no longer required to fund 25 percent of project costs with funds other than AHP funds

Applications will be accepted through July 1. The AHP Implementation Plan is your best source for all information about the Affordable Housing Program. You can see the details on scoring, project requirements and HCI guidelines within. Additionally, check out our latest Tips and Tricks for some best practices that can help your project’s chances of being awarded funds.

If you have any questions, contact Housing and Community Investment at AHPApplication@fhlbcin.com or call (888) 345-2246.