HOME Investment Partnerships Program (HOME)

The HOME Program is a federally funded program that provides funding to non-profit or for-profit developers for affordable rental housing production and rehabilitation.

HOME is a federally funded program that assists in the production and preservation of affordable housing for low and moderate-income families and individuals. The program funds a broad range of activities including:

  • new construction
  • acquisition
  • rehabilitation of rental properties.

Table of Contents

Eligible Applicants

The following are eligible to apply for HOME funds:

  • For-profit developers
  • Non-profit developers
  • Non-profit organizations designated as Community Housing Development Organizations (CHDOs)
  • Municipalities in cooperation with any of the above

Eligible Activities and Affordability Requirements

  • HOME funds can be used for the acquisition and/or rehabilitation of existing structures for rental use, including distressed or failed properties, or for the new construction of rental projects.
  • Projects seeking HOME funds must have a minimum of 5 HOME-assisted units
  • All units receiving HOME assistance must be occupied by households earning no more than 60% of the area median income
  • At least 20% of the HOME units must be affordable to households earning no more than 50% of area median income
  • Please see the additional program information below for a list of maximum rents and household incomes for your community

Funding Limits

  • In general, $750,000 to $1,000,000 is the maximum amount available per project; $50,000 to $75,000 is the maximum amount available per affordable unit in HOME entitlement/consortium communities.
     
  • In non-entitlement or non-consortium communities, the maximum amount available per affordable unit is $65,000 to $90,000, up to the per project maximum. Please see the additional program information below for a list of entitlement and consortium communities.
     
  • A project located in a HOME entitlement/consortium community must include a matching commitment of local funds, or the application will not be scored. In general, preference will be given to applications with full match commitments.

Loan Terms

  • In general, EOHLC (formerly DHCD) HOME awards are structured as loans with 0% interest, and a 30-year deferred payment term
  • EOHLC reserves the right to assign a higher rate of interest to any HOME loan
  • HOME loans to projects receiving allocations of Low Income Housing Tax Credits are made at the Applicable Federal Rate (or higher) as required by the Tax Credits program
  • All HOME loans are non-recourse and secured by a mortgage on the property

Selection Criteria

  • strength of overall concept
  • strength of development team
  • demonstrated need for project in the target neighborhood
  • suitable site and design
  • appropriate scope of rehabilitation or construction
  • appropriate total development cost for properties included in proposal
  • financial viability of the project
  • degree of local support, including local funding commitments
  • evidence of readiness to proceed
  • evidence of satisfactory progress on projects previously funded with DHCD resources
  • incorporation of smart growth and sustainable development principles
  • fair housing principles

How to Apply

EOHLC (formerly DHCD) makes HOME funding available through a Notice of Funding Availability (NOFA).

Applicants must submit an application for funding using the Department’s Mass One Stop+ web-based application..

Mass OneStop+ Application

2019 NOFA

2019 mini competition NOFA

 

 

Training

Program Information

Additional Resources

Contact for HOME Investment Partnerships Program (HOME)

Phone

Please listen for phone menu options for EOHLC divisions

Address

Main Office
100 Cambridge St, Suite 300, Boston, MA 02114

Help Us Improve Mass.gov with your feedback

Feedback