Federal Home Loan Bank of Boston

The Federal Home Loan Bank of Boston, known as FHLBank Boston, is a cooperative wholesale bank that provides funding and liquidity to banks, credit unions and insurance companies across New England. Rather than serving consumers directly, it lends to member institutions through advances, helping them fund mortgages, manage liquidity and balance assets and liabilities. It is one of the regional banks in the Federal Home Loan Bank System created by Congress in 1932.

A major part of its mission is housing and community investment. Through the Affordable Housing Program, members have helped create and improve thousands of affordable homes since 1990. Other offerings include down-payment and closing-cost grants for first-time and first-generation homebuyers, discounted community development advances, a 0% advance that lets members partner with certified community development financial institutions, and disaster mortgage assistance. The bank also runs the Mortgage Partnership Finance program for member lenders.

What to Know

• More than 400 New England financial institutions are members.
• The bank has operated for more than 90 years.
• Homebuyers cannot apply directly; programs must be accessed through a member bank or credit union.
• Lift Up Homeownership helps first-generation buyers earning up to 120% of area median income.
• The bank publishes an annual Community Lending Plan setting its housing priorities.