Affordable Housing Program

We strive to impact the communities our Indiana and Michigan members serve, and the Affordable Housing Program (AHP) is a key part of our community-driven focus.

Each year, FHLBank Indianapolis member financial institutions (members) partner with local not-for-profit housing providers, economic development partners, and housing developers (sponsors) to compete for AHP grants of up to $500,000.

These grants help fund the acquisition, construction or rehabilitation of properties for use as affordable rental or ownership. Since 1990, FHLBank Indianapolis has awarded more than $283 million to create or rehabilitate single- and multi-family housing in Indiana and Michigan.

Funds are awarded through an annual competitive application process. These awards support a multitude of affordable housing solutions for veterans, people with disabilities, or young adults transitioning out of the foster care system, and many others.

Click here to see an overview of changes to our 2023 AHP Implementation Plan.  The plan in its entirety can be found on the Resources page.