Grant Programs

The Bank offers four grant programs that help very low- to moderate-income families and individuals obtain quality rental housing or become homeowners and that fund economic development projects. The Bank is also offering a pilot grant program that facilitates homeownership preservation for qualifying low- and moderate-income households.
 
Rental Housing
 
The Affordable Housing Program can be used to support very low- to moderate-income rental housing development.
 
The Access to Housing and Economic Assistance for Development (AHEAD) Program can cover predevelopment expenses for affordable rental housing.
 
Homeownership
 
The following programs can be used to create homeownership opportunities for very low- to moderate-income households and individuals:

• Affordable Housing Program (AHP) – Awards grants, on a competitive basis twice a year, to develop affordable rental and ownership housing projects
• Individual Development and Empowerment Account (IDEA) Program – Matching grant downpayment assistance program for first-time homebuyers
• Workforce Initiative Subsidy for Homeownership (WISH) Program – Matching grant downpayment assistance program for first-time homebuyers
• Access to Housing and Economic Assistance for Development (AHEAD) Program – A recoverable grant program that supports housing projects during the conception and early stages of development

Economic Development
 
AHEAD supports a variety of projects that provide services or other benefits for low- to moderate-income households, result in the creation or retention of jobs in low- to moderate-income communities, or facilitate public or private infrastructure projects located in low- to moderate-income communities..


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