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 $25,000 for honorably discharged veterans and active-duty military and up $20,000 for all other 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 in March and ends when all funds are reserved.

Carol M. Peterson Housing Fund: Provides grants of $5,000 to $20,000 to help low- and moderate-income elderly and/or special needs households make accessibility modifications and emergency 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 begins February 1 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.

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 $100,000 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.