HOME Program

The HOME Investment Partnerships Program, commonly referred to as HOME, is a nationwide federal block grant that is designed to help create and sustain safe, decent, and affordable housing for low-income households.

The annual allocation is based on population and documented housing needs. As the designated Administrator of the Idaho's HOME Program, IHFA awards HOME funds as a soft second loan, to qualified low-income single-family households for down-payment/closing costs assistance. IHFA also awards HOME funds for gap financing, as a loan, to qualified Idaho housing developers to acquire, construct, or rehabilitate multi-family rental housing that serves low-income households.

Qualified non-profit housing developers can receive a HOME loan to help them construct or rehabilitate single-family homes to be sold to qualified low-income households.All HOME-assisted housing has a Period of Affordability of 5 to 20 years depending on the amount of HOME funds received and the scope of the activity (e.g. single-family/multi-family rental, new construction, rehabilitation, acquisition). During its POA, HOME rental housing must adhere to specific physical condition requirements, rent and tenant income restrictions, federal and state laws, and IHFA requirements. During the POA, a homebuyer is required to adhere to HOME's primary residency requirement. HOME requires repayment of the HOME funds if the owner does not comply with the requirements during the Period of Affordability.