HOME Investment Partnerships Program (HOME) – Tribal Applicants
Information
Purpose:
The HOME program provides loans for multi-family rental new construction and rehabilitation projects with or without acquisition, first time home buyer projects (newly constructed homes sold to income eligible families) and grants to state recipients (cities, counties, and federally recognized tribes to operate fist-time home buyer down payment assistance, owner-occupied rehabilitation, and/ or tenant-based rental assistance programs.
Description:
The HOME Program is a federal formula grant program that provides annual allocations to states to increase and preserve the supply of decent, safe, and sanitary affordable housing specifically for serving low-income [at or below 80 percent (80%) of Area Median Income (AMI)] and very low-income [at or below 50 percent (50%) of AMI] households.
With this funding, the Department will award HOME funds to eligible applicants on a competitive basis, in the form of loans/grants to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance.