Affordable housing and community development
Whether you’re a developer of affordable housing, first-time homebuyer or small business looking to expand, we can help you reach your goals.
We partner with developers, government and non-profit agencies to help renew neighborhoods and improve the lives of low- and moderate-income families.
Webster in action
Our Commercial Real Estate department provides construction and permanent financing to developers of affordable and supportive housing for seniors, veterans, homeless and handicapped individuals.
Tax credit investments
We can provide equity by investing in Low-income Housing Tax Credits thro ugh our LIHTC Proprietary Fund with the National Equity Fund as tax credit syndicator. We also invest in New Markets Tax Credits and provide financing to neighborhood businesses or community health and education agencies.
Affordable Housing Program
Funded by the Federal Home Loan Bank of Boston (FHLBB), the Affordable Housing Program (AHP) encourages local planning and development of affordable-housing initiatives. Through AHP, grants and interest rate subsidies are awarded to organizations that address low- to moderate-income housing needs throughout our four-state market.
At Webster, we believe that financial education programs help build strong communities. If you complete an approved financial education class, we will waive the monthly service fee on a new WebsterOne checking account. Get qualified.
How to apply for AHP funding
- The FHLBB AHP online application is available from late July through early September; awards are announced by the FHLBB in December
- Prospective applicants should contact our Community Development Officer in the Spring to discuss the proposed housing development
- Applicants are also encouraged to review the following information available at FHLBBoston.com
- AHP Round Announcement
- AHP Notice of Changes
- AHP Implementation Plan
Senior Vice President, Community Development Officer
All loans are subject to credit approval.