HOME Affordability

Information by State  Print version   ABC   Eligible HOME Activities   Key actors in the HOME program   HOME financial operations   Basic HOME provisions

The HOME Program imposes an affordability period on projects assisted with HOME funds in order to ensure that HOME investments yield affordable housing over the long term.

For Homebuyer Projects, the length of the affordability period is based on the amount of HOME funds invested in the property.

Affordability Period for Homebuyer Projects:

For Rental Projects, the length of the affordability period is based on the amount of HOME funds invested in the property, as well as on the nature of the activity funded.

Affordability Period for Rental Projects:

Click on the underlined keywords below for more information on the affordability period and related requirements applicable to each type of HOME activity.

	For homebuyer projects, the affordability period affects the terms of the resale/recapture of the property if sold during the affordability period.
	For rental projects, rent and occupancy requirements remain in effect for the length of the affordability period.
	Affordability periods do not apply to homeowner rehabilitation or TBRA activities.

For further guidance, see HOMEfires, Vol. 5, No. 2.