FHLBank Chicago Affordable Housing Program: $51 Million Available, Apply by June 12, 2026

FHLBank Chicago has opened the 2026 Affordable Housing Program (AHP) General Fund with $51 million available. Individual projects can request up to $2 million to help build or preserve affordable housing in Illinois and Wisconsin.

What the Funding Covers

The program helps pay for affordable housing projects that need gap funding to move forward.

• Acquisition of housing properties
• New construction of affordable rental or owner-occupied housing
• Rehabilitation or preservation of existing housing
• Projects serving families, seniors, and people with disabilities

Who Can Apply

Applications must be submitted jointly by an FHLBank Chicago member financial institution and an eligible project sponsor. Sponsors can include developers, nonprofits, public housing authorities, and tribal governments working on qualifying affordable housing projects in Illinois or Wisconsin.

How to Apply

• Deadline: June 12, 2026 at 5:00 PM CT
• Apply: Submit through AHP Online via FHLBank Chicago's AHP page
• Support: Technical assistance is available during the application period

Why This Program Stands Out

This is a large regional housing program with meaningful per-project funding. If you already have an affordable housing project and a bank partner, this is a concrete funding round with a clear deadline and a clear application path.

Source: FHLBank Chicago