Definition
HUD block grant program providing funding to states and localities for affordable housing development and rehabilitation.
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HOME provides formula-based grants to jurisdictions for affordable housing production and preservation. Funds support down payment, rental assistance, and property rehabilitation. Awarded to state and local agencies. Flexible use allows customization to local needs. Supports both ownership and rental housing. Leverages private sector investment. Produces affordable housing stock. Income eligibility requirements ensure affordability. Program provides consistent funding source for affordable housing initiatives.
Pro Tip
Research HOME-funded programs in your area for down payment and rental assistance.
Example
HOME funds supported down payment assistance for first-time buyers in a county program.