Since 1990, the Seattle Bank’s AHP has provided more than $159 million of subsidy to support the acquisition, development, or rehabilitation of more than 28,000 units of affordable rental and owner-occupied housing for very low-, low-, and moderate-income households.
AHP subsidy may be used in a variety of ways, including to:
Reduce mortgage principal
- Provide gap financing
- Cover downpayment and closing costs
- Lower the interest rate on a loan