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Affordable Housing Program General Fund

  • About the Program
  • How to Apply
  • Program Requirements
  • Resources

Affordable Housing Program General Fund

Changing Lives with Affordable Housing

Program Overview

The AHP General Fund (AHP) has been lauded as an indispensable funding source to nudge affordable housing projects over the finish line with final funding, as a beginning funding source to leverage additional grant monies or to attract low-income tax credits and for overall financing needs.  

Our Impact

The Affordable Housing Program has had a tremendous impact.


Distributed in 2023


Funds Available in 2024


Available Per Project in 2024

Benefits for Your Financial Institution

Build your institution’s profile in the community through your support of affordable housing projects and initiatives.

Increase the availability of affordable housing in the communities you serve by sponsoring applications for AHP funding.

Generate new business opportunities by providing construction loans, lines of credit and permanent financing to your community housing organizations.

Satisfy your Community Reinvestment Act (CRA) requirements through your contributions to affordable housing projects and initiatives.

Building Communities, Changing Lives

Using the AHP, FHLB Dallas members have helped to create affordable housing for thousands of households – homeowners and renters – across FHLB Dallas’s five-state District. We invite you read some of their stories.

Affordable Housing Funds Give Life to Aging Apartment Complex

The Federal Home Loan Bank of Dallas (FHLB Dallas) provided an $850,000 Affordable Housing Program grant for 12 new units and multiple upgrades to existing units at an affordable housing complex in Del Rio, Texas.

FHLB Dallas Awards $28.4M in Affordable Housing Program Funds

See the 2023 AHP General Fund Grant Recipients.

Senior Housing Development Receives Boost from AHP Funds

Felician Villa Apartments, a 132-unit development for residents age 55 and over in in Rio Rancho, New Mexico, will offer affordable meals and educational seminars for health and wellness.

The Affordable Housing Program offers FHLB Dallas members the opportunity to support the development of affordable housing in their communities – while raising their profile in the community, generating new business opportunities and addressing their CRA requirements.
For organizations involved in creating affordable housing, AHP is an invaluable resource, offering direct grant of up to $2 million per project. The grant is interest free, and if a project remains in compliance with program requirements for specified terms, all funds are forgiven – reducing the amount of debt and other funding needed to complete a project. NOTE: FHLB Dallas does not provide grants directly to project sponsors or to consumers. Project sponsors must work with an FHLB Dallas member financial institution to submit an application for funding.
Use the link below to locate an FHLB Dallas member institution in your area. 


How it Works

AHP funds are awarded once a year through a competitive application process. FHLB members partner with community housing organizations or developers (i.e., project sponsors) during the application process. Each has a role in the process: the project sponsor completes the application for funding during the annual application period, and the FHLB Dallas member reviews and submits the application on the sponsor’s behalf.


  1. Pre-Application Process – The member and project sponsor meet to discuss the project – how it will benefit the community and how it qualifies for AHP funding. The member evaluates the sponsor and the application to determine whether or not to support the application.

  2. Application Process – The project sponsor completes the application for funding during the annual application period. The member reviews the application and, if approved, submits the application and supporting documentation on the sponsor’s behalf.

  3. Approval – FHLB Dallas scores the applications and recommends projects to receive funding. FHLB Dallas’ Board of Directors approves the applications for funding, and award letters are sent via email. The member, project sponsor and FHLB Dallas enter into a tri-party agreement governing the terms of the AHP award.

  4. Funds Disbursement – AHP funds are disbursed as a direct grant to the member institution based on a formal funding request. The member, in turn, provides the AHP subsidy to the sponsor.

  5. Progress Reporting – Sponsors submit annual progress reports until project completion.

  6. Monitoring – Upon completion of the construction or rehabilitation, the project is subject to initial and long-term monitoring – five years for an owner-occupied project involving down payment/closing cost assistance and 15 years for a rental project.

Applying for an AHP Grant

If your organization is interested in applying for AHP funding, visit our Resources page to review the AHP Implementation Plan, which provides detailed information about the AHP, including its uses and requirements. The Resources page also includes information and tools to help you determine your project’s eligibility and support you through the AHP application process.
AHP applications may be submitted during the annual round through the GrantConnect online portal on MyFHLB. Members and sponsors must register for a user ID and password to access the application through the portal.
Once registered, you can log in to the system to complete, submit and track the status of an application. FHLB Dallas’ Community Investment team can also view an application while it is being completed and help to answer questions regarding application or the process.
Register to Access the AHP Application through GrantConnect.

AHP grants may be used to fund for a broad range of affordable rental and owner-occupied housing, including:
  • Single-resident occupancy (SRO)
  • Owner-occupied rehab and new construction
  • Group homes/congregate living facilities
  • Permanent supportive/transitional housing
  • Re-entry housing
  • Manufactured and micro homes
To qualify for AHP funding, applications must support the following types of activities:
  • Real estate acquisition
  • Down payment and closing costs
  • The refinance of an existing loan (provided that the equity proceeds are used for the development of AHP-eligible housing)
  • Rehabilitation or construction costs
  • Homebuyer education and counseling if the household purchases an AHP-assisted unit

Application Scoring

AHP applications are evaluated according to the scoring guidelines in the AHP Implementation Plan and ranked according to a 100-point scoring system, using the point distribution system below. Applications achieving the highest scores receive priority for funding.
20 Points Income Groups Targeted
35 Points Bank District Priority
15 Points Community Stability
5 Points Creating Economic Opportunity
5 Points Not-for-Profit Sponsorship
5 Points Donated Property
15 Points Undeserved Communities and Populations
100 Points
Application scoring criteria may vary from year-to-year based on FHLB District needs and priorities.

Reporting and Monitoring

All projects that receive AHP subsidy are subject to compliance monitoring as detailed in the AHP Implementation Plan.

Stage 1: Before Project Completion - Annual Reports

FHLB Dallas surveys members, sponsors and owners annually to determine if the project is making satisfactory progress toward completion and occupancy.

Stage 2: Project Completion - Initial Monitoring

FHLB Dallas determines if:

  • AHP subsidy was used for eligible purposes and if the need for AHP subsidy still exists
  • Household incomes and rents comply with income targeting and rent commitments made in the application
  • Actual costs were reasonable and necessary
  • The retention agreement meets the requirements of the AHP regulations
  • Services and activities committed to in the application have been provided

Stage 3: Completed Rental Projects - Long-Term Monitoring

During long-term monitoring, projects are monitored for resident income and unit rent compliance as well as ongoing financial viability. FHLB Dallas reviews:

  • Annual certifications provided by owners
  • Documentation regarding household incomes and rents maintained by the project owner
  • Other project documentation as necessary

Deed Restrictions

Applicable AHP subsidies are subject to deed restrictions. Owner-occupied projects where a household received AHP subsidy for construction, purchase or purchase in conjunction with rehabilitation are subject to deed restrictions for five years. If a home is sold or refinanced during the retention period, FHLB Dallas must be contacted to determine if any prorated repayment of the subsidy is necessary.
Rental projects are subject to deed restrictions for 15 years. If any portion of the project is sold, transferred or refinanced by the project owner during the retention period, FHLB Dallas must be contacted to determine if repayment of the full subsidy is necessary or if the deed restriction may be transferred to the new owner.

Funds Recapture

FHLB Dallas may cancel a project that does not demonstrate satisfactory progress toward meeting its designated completion date and recapture any AHP subsidy previously disbursed to the project.
FHLB Dallas, or the member if delegated such responsibility by FHLB Dallas, must make a demand on the project sponsor or owner for repayment of the full amount of the AHP subsidy not used in compliance with the commitments in the AHP application of the requirements of the AHP Regulations.
FHLB Dallas shall recover from the member the amount of any AHP subsidy (plus interest, if appropriate) not used in compliance with the commitments in the member’s AHP application or the requirements of the AHP Regulations because of the actions or omissions of the member.
All subsidies must be used in compliance with the terms of the application for the subsidy, as approved by FHLB Dallas. If requirements of the AHP regulations or the requirements of the Implementation Plan are not met, the project sponsor or project owner must make a reasonable effort to cure the noncompliance within a reasonable period of time as determined by FHLB Dallas. If the noncompliance cannot be cured within a reasonable period of time, FHLB Dallas may consider a modification to the terms of the approved application, provided that the project would continue to meet the requirements of the AHP regulations. If the noncompliance cannot be eliminated through a modification, the requirements for collection efforts shall apply.
Please refer to the AHP Implementation Plan on the Resources page for more details.

Refer to the materials below for more information regarding the AHP.

Additional Resources for Owner-Occupied (including Habitat for Humanity) Projects

Additional Resources for Rental Projects

Timeline Extensions and Modifications to an Existing Application

The nature and scope of projects may change between the time the application is approved and the time the project is to be completed. When this occurs, member institutions and sponsors must request approval of changes to the approved application from FHLB Dallas to remain in compliance with the AHP regulations.
FHLB Dallas may consider changes to projects provided that: (1) the project sponsor or owner made a reasonable effort to cure any noncompliance within a reasonable period of time, and the noncompliance could not be cured within a reasonable period of time; (2) the project, incorporating changes, would continue to meet the minimum eligibility requirements found in the AHP Regulations; (3) the application for the project, as reflective of such changes, continues to score high enough to have been approved by FHLB Dallas and (4) there is good cause for the change and it is not solely remediation of noncompliance.
Please use the appropriate form below to request an extension to a project timeline or modification to an existing application.