Enhancing Lives, Impacting Communities:
The Federal Home Loan Bank System

National Report

Since its creation in 1989, the FHLBank System’s AHP has been a substantial and valuable source of real estate equity for the financing of affordable housing in the United States. From 1990 through 2016, the 11 FHLBanks collectively contributed more than $4.1 billion ($5.4 billion in inflation-adjusted dollars) in AHP real estate finance equity for rental, home construction, and rehabilitation projects. This equity was combined with $65.7 billion ($83.9 billion in inflation-adjusted dollars) in leveraged dollars from other private and public sources, enabling $69.9 billion ($89.3 billion in inflation-adjusted dollars) in total development funding for more than 601,000 housing units. From 1995 through 2016, the FHLBanks also collectively contributed approximately $1.0 billion ($1.2 billion in inflation adjusted dollars) in AHP equity for down payment assistance and mortgage principal reduction, assisting more than 183,000 home purchase units.

Each FHLBank allocates at least 10 percent of its net earnings to fund its AHP. As such, the continued operating and mission success of the FHLBanks has directly enhanced the development and purchase of affordable housing throughout the country and has had a positive impact on local and state economies, and on the national economy.

This report details the economic impact of the housing that has been enhanced by the FHLBank’s AHP from 1990 to 2016.