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FHLBank Atlanta Announces Availability of 2018 AHP Competitive Funds.

Global Banking News-March 14, 2018--FHLBank Atlanta Announces Availability of 2018 AHP Competitive Funds

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Global Banking News - 14 March 2018

Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has said that it has made available the 2018 funding for its Affordable Housing Program (AHP), beginning June 1, 2018.

Through a competitive application process, FHLBank Atlanta members and their community housing partners will be awarded up to USD500,000 for individual AHP projects. The cut-off date for submitting applications is July 2, 2018, the bank said.

AHP Competitive Funds can be used to help finance the acquisition, construction, or rehabilitation of multifamily housing or single-family housing, and for either rental or ownership units. In 2017, FHLBank Atlanta awarded more than USD20m to assist in the financing of 3,108 affordable rental and homeownership units.

FHLBank Atlanta has also started to host a series of webinars designed to increase awareness of AHP Competitive and to help familiarise financial institutions with the AHP Competitive application process. All AHP Competitive applicants should work with an FHLBank Atlanta member financial institution to complete the application.

One of 11 district banks in the Federal Home Loan Bank System, FHLBank Atlanta offers financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighbourhoods and communities. The bank's members, its shareholders and customers, are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

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Publication:Global Banking News (GBN)
Date:Mar 14, 2018
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