HOME Program
 The federal HOME Program is a block grant funding source made through HUD. It is designed to encourage partnerships between federal, state and local governments, housing developers, and nonprofit service agencies to expand the supply of decent, safe, sanitary and affordable housing. This is accomplished through down payment/closing cost assistance, acquisition, and construction and rehabilitation of single-family and multi-family affordable housing for low-income families across Idaho.
Idaho Housing and Finance Association administers the federal HOME Program statewide, except for the City of Boise, which directly receives federal funds for its own HOME program. HOME funds are allocated to Idaho using a formula based upon population and documented housing needs.
Through a competitive application process of funds distribution, IHFA provides successful applicants with low-interest loans, and in some cases recoverable grants, to help finance their projects. The HOME application review and funds reservation process considers the relative needs of six planning regions. Projects funded by HOME have strict requirements for rent controls, income eligibility of tenants and homeowners, housing development costs and long-term affordability requirements.
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