HOME Homebuyer Assistance Activities
HOME funds may be used to support homeownership affordability through the acquisition of nonluxury housing with suitable amenities. Homebuyer assistance activities are expressly limited to financial assistance provided to eligible beneficiaries (including down payment and closing costs) and sufficiently documented costs that directly support homebuyer assistance activities for existing housing units or housing units under construction. HOME funds may be used to assist eligible beneficiaries acquire, in fee simple title, a 1- to 4-unit dwelling or a condominium unit.
HOME Development Activities
HOME funds may be used to develop affordable rental and/or homeownership housing through the acquisition (including assistance to homebuyers), new construction, reconstruction, or rehabilitation of non-luxury housing with suitable amenities. Activities may include real property acquisition, site improvements, new construction, rehabilitation, reconstruction, conversion, and other expenses including financing costs, temporary relocation expenses of any households, businesses, or organizations. Acquisition of vacant land or demolition must be undertaken only with respect to a particular, predefined housing project intended to provide affordable housing within established time frames.