Community Investment Program

Federal Home Loan Bank of Cincinnati


The CIP is the Federal Home Loan Bank's at-cost advance program designed to provide members with low-cost funds for affordable housing. Through this program, members can match assets with liabilities and reduce interest rate exposure for housing loans to low- to moderate-income households. CIP advances can also be used in partnership with AHP grant funds.

Use of Funds
CIP advances are available throughout the year and are intended to support lending for housing-related programs. To qualify, the project must benefit households whose incomes are at or below 115 percent of the area median. Funds may be used to finance single-family mortgages (rental or homeownership), housing construction projects, or to refinance existing homes.

CIP advances may also be used for the purchase, construction or rehabilitation of multi family or rental projects, where at least 51 percent of all tenants have incomes at or below 115 percent of the area median. These funds can be used to refinance rental housing, provided that equity proceeds are used to rehabilitate the units or to maintain their affordability for current residents. Additional uses of CIP funds include:

  • purchase of loan participations or to finance participation in a loan consortium for eligible housing projects
  • loans to entities that in turn lend for eligible housing projects
  • purchase of mortgage revenue bonds or mortgage-hacked securities provided that all of the loans financed by the bond and all of the loans hacking securities meet the CIP requirements
  • purchase of low-income housing tax credits
  • purchase of state housing finance agency bonds

Program Requirements

All Bank members are eligible to apply the CIP funds, which are available throughout the year on a non-competitive basis. Members must meet the Bank's standard collateral requirements. Members must use their own underwriting criteria and must limit their rate mark up to 300 basis points. Additionally, the member must show that the benefit of the CIP advance pricing is passed through to the customer. A transaction verification form is required from the member 30 days post-funding.

The Bank's Community Investment Department provides creative ideas, assistance, and applications for Housing & Economic Development Programs.

To learn more about these programs, contact the Community Investment Department at 888-345-2246 or visit

Community Investment Department
221 East 4th Street
Cinncinati, Ohio 45202