Through its Affordable Housing Program (AHP), Federal Home Loan Bank of Boston has allocated $3 million to be used for financing 79 units of affordable rental and ownership housing for households earning at or below 80 percent of area median income in Massachusetts, Maine, and Vermont. According to the bank, $2.6 million will be awarded as a grant or subsidy, and the remaining $400,000 will be in the form of loans.

“This marks the 20th consecutive year the bank has awarded grants and subsidies under the AHP,” said Edward A. Hjerpe III, president and CEO of Federal Home Loan Bank of Boston. “The funds committed — more than $186 million — have led to more than 22,300 housing units for very low, low, and moderate-income households and have helped stimulate economic development throughout New England.”

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