The Federal Home Loan Bank of Boston has awarded more than $12.3 million in grants, loans, and interest-rate subsidies to support four affordable housing initiatives in New Hampshire.

The projects, funded in part through FHLBank Boston’s Affordable Housing Program, will create or preserve 128 rental and homeownership units for individuals and families earning up to 80% of the area median income.

The grants and loans will be used to help pay construction, acquisition or rehabilitation costs. Member financial institutions work with local developers to apply for funding, which is awarded through a competitive scoring process.