The Affordable Housing Program (AHP) was created to help provide affordable housing for very low-, low- and moderate income residents. Since inception in 1990, the FHLBank has contributed $287 million for the creation of 45,000 units of lower-income housing through its AHP.

The FHLBank Board of Directors established two voluntary homeownership programs, renewable on an annual basis. American Dream Homeownership Challenge, established in 2003, provides competitive grants to members developing innovative homeownership opportunities targeted toward minorities and persons with special needs. Preserving the American Dream, established in 2008, is a fund to help homeowners at risk of foreclosure; FHLBank members partner with qualifying nonprofit housing counseling agencies that provide foreclosure/loss mitigation counseling, up to $3,500 per household.