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HOME Program

The HOME Investment Partnerships Program (HOME) was created by the National Affordable Housing Act of 1990 to provide competitive funding to local government, nonprofit, and private developers.

HOME funds support affordable housing development, and also designates funding for Community Housing Development Organization (CHDO) set-asides and operating expenses. The program’s purpose is to provide a wide range of activities that build, buy and/or rehabilitate affordable housing for rent or ownership, or provide direct rental assistance to low-income households.

Fund Type: Federal

Eligibility

Eligible Project Types and AMI Levels

Development and CHDO Set-Asides and Operating

  • Rental
    • At least 90 percent of benefiting families must have incomes restricted at 60% AMI or lower
    • In rental projects with five or more assisted units, at least 20 percent of the units must be occupied by families with incomes that do not exceed 50% AMI
    • The incomes of households receiving HUD assistance must not exceed 80% AMI
  • Homeownership: 80% AMI

Eligible Activities

  • Rental housing acquisition, rehabilitation and construction
  • Homebuyer assistance, generally through Down Payment Assistance (DPA) programs
  • Rehabilitation for Single-Family Owner-Occupied (SFOO) programs
  • Operating expenses such as salaries, wages, and other employee compensation and benefits

Award Terms

Funds are awarded as a grant or loan for housing development and CHDO set-asides, and as a grant for CHDO operating expenses

Eligible Grantees

  • Local governments (Development)
  • Nonprofit housing developers and housing authorities (Development)
  • Certified CHDOs (CHDO Set-Aside and Operating)
  • Qualifying non-profits developing HOME-eligible projects (CHDO Operating)

Eligible Borrowers

  • Local governments (Development)
  • For-profit housing developers (Development)
  • Certified CHDOs (CHDO Set-Aside)

Loan Terms

  • Interest rate: 0-3%
  • Fee: none
  • Term: 17-50 years
  • Repayment: typically commensurate with senior debt

Legislation

Affordable housing development

CHDO set-asides

CHDO operating expenses

HOME Final Rule Updates to CHDO

Resources

DOH Housing Development Specialist Staffing and Regional Assignments

DOH Asset Management Staffing and Funding Source Assignments

Application Instructions and Materials

This form should be used to report problems or issues with this website. Questions pertaining to a program or service provided by DOH should be addressed to contact information located on the specific program pages.

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