FHLB Cincinnati administers a number of programs in support of affordable housing and community development -- everything from homeownership to special needs housing, economic development to disaster recovery. Each has its own application process. These programs help members connect with their communities, often aiding the neediest citizens. This guide will introduce you to program basics. Additionally, the FHLB also conducts seminars and webinars, which provide more in depth information.

Affordable Housing Program: Provides grants up to $1,500,000 for the development of affordable rental and owner-occupied housing. To access the funds, affordable housing developers (“Sponsors”) partner with FHLB members to apply for funding. The application period is typically between June and August each year and applications are submitted online.

Welcome Home Program: Provides grants of up to $20,000 for low- and moderate-income households to assist in the purchase of a home. Members apply for these grants online through the Members Only website. Funds are awarded on a first-come, first-served basis. The application period typically begins the first week of March and ends when all funds are reserved.

Carol M. Peterson Housing Fund: Provides grants of $5,000 to $20,000 to help low- income special needs and/or aged 60+ households make repairs to their homes. Members apply for these grants online through the Members Only website. Funds are awarded on a first-come, first-served basis. The reservation period typically begins the first week of February and ends when all funds are reserved.

Disaster Reconstruction Program: Provides grants up to $20,000 to assist survivors in declared disaster areas within the Fifth District repair or replace their home after a disaster. Members apply for these grants online through the Members Only website. Funds are awarded on a first-come, first-served basis.

Hundred Homes Initiative: Provides grants of $50,000 to assist households residing in pre-June 15, 1976 mobile homes purchase or construct a new home. Members apply for grants online through the Members Only portal. Funds are awarded on a first-come, first-served basis. The application period opens in April and ends when all funds are reserved.

Community Investment Program (CIP): Provides discounted Advances to finance the purchase, construction, and/or rehabilitation of housing and economic development projects that meet certain qualifying factors. Funds are available on a continuous basis via the CIP Application, which must be completed online through the Members Only website.

Economic Development Program (EDP): Provides discounted Advances to promote economic development and job creation/retention projects that meet certain qualifying factors. Funds are available on a continuous basis via the EDP Application, which must be completed online through the Members Only website.

Zero Interest Fund: Provides interest-free loans up to $500,000 to help fund the upfront infrastructure costs for housing, commercial, and/or industrial real estate-related projects. The ZIF application must be completed online through the Members Only website.

To learn more about our Housing programs, contact us at toll-free at 888-345-2246 or housing@fhlbcin.com.