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HOME Program
The HOME Program created by the National Affordable Housing Act of 1990 is a federally funded program designed to create partnerships among governmental entities and the private sector in order to make affordable housing available to low-income persons.
The North Dakota HOME program has two primary activities: home owner assistance and rental production/assistance. This is accomplished through set-asides in four basic areas:
- Homeownership assistance
- Homeowner rehabilitation activities
- Rental rehabilitation or production
- Security Deposits
Federal requirements target assistance to families whose Median Family Income (MFI) does not exceed 80% MFI in a given area (as defined by HUD Section 8 income guidelines). Further income targeting and rent controls are required when assisting rental housing units. See: HUD Home Program Income Limits and HUD Home Program Rent Limits.
Home funds may be used as equity investments, interest-bearing loans or advances, non interest-bearing loans or advances, interest subsidies, deferred payment loans, and grants. Projects are required to have 25% match for the funds they receive and CHDO projects must have a minimum of 10% owner equity invested in the project.
If you should have questions regarding the HOME Project please check out the Frequently Asked Questions page. If you could not find the question and answer you were looking for, submit your very own question.
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Program Statements
2009 HOME Program Description (document)
File Size: 93.59 kb
2008 HOME Program Description (document)
File Size: 81.19 kb
HOME Application Plan (document)
File Size: 689.13 kb
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