FHLBank Boston Awards $47 Million to Support Affordable Housing in New England

BOSTON, Dec. 19, 2025 /PRNewswire/ -- Federal Home Loan Bank of Boston (FHLBank Boston) awarded $47 million in grants, loans, and interest-rate subsidies through its Affordable Housing Program to support 49 affordable housing initiatives in New England and beyond. These projects will create or preserve 1,532 rental and homeownership units for individuals and families earning up to 80% of the area median income.

The grants and loans will be used for construction, acquisition, or rehabilitation costs. Financial institutions that are members of FHLBank Boston work with local developers to apply for funding, which is awarded through a competitive scoring process. This year's awards will generate housing for low-income seniors, people with disabilities, veterans, formerly homeless individuals, and working families.

"Over the last 35 years, FHLBank Boston has provided more than $800 million in grants and low-cost financing through the Affordable Housing Program to our members, enabling them to support affordable housing development in communities across New England. This funding is crucial as housing remains a pressing issue in urban, suburban, and rural parts of our region, and communities face ongoing challenges in creating and maintaining rental and ownership housing for low- and moderate-income households," said FHLBank Boston President and Chief Executive Officer Timothy J. Barrett.

FHLBank Boston provided its first Affordable Housing Program awards in 1990. In the past 35 years, FHLBank Boston's Affordable Housing Program has supported the creation or preservation of more than 40,000 affordable homes.

"Maine's housing shortage continues to put pressure on working families, seniors, and employers across our state," said Maine Senator Susan Collins. "These awards from the Affordable Housing Program will help expand the supply of safe, affordable housing, support community development projects, and assist local organizations in addressing Maine's housing needs."

"We're in the midst of a nationwide housing crisis, and cuts to crucial affordable housing programs in recent months have only made the situation worse. Vermont has been hit especially hard, with a record-breaking number of residents experiencing homelessness this year across our state," said Vermont Senator Peter Welch. "This investment will help Vermonters secure stable and safe housing."

For details about each housing initiative, please go here.

About FHLBank Boston

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

Contact:
Aglaia Pikounis
(617) 817-1754
[email protected]

Adam Coldwell
(781) 413-5385
[email protected]

SOURCE Federal Home Loan Bank of Boston