Federal Home Loan Bank awards $5.5m for NH affordable housing

Five New Hampshire housing initiatives have been awarded nearly $5.5 million in grants, loans and interest-rate subsidies through the Federal Home Loan Bank of Boston’s 2016 Affordable Housing Program.

All told, the bank announced that 45 projects in New England will receive $56.4 million in assistance. The funds will be used to finance 1,100 units of affordable rental and ownership housing for households earning at or below 80 percent of area median income in seven states.

The funds were awarded through member financial institutions to projects that will create or preserve affordable rental and ownership housing. AHP funds are used to create or preserve affordable housing and help pay construction, acquisition or rehabilitation costs.