The HOME Investment Partnerships Program provides low interest, gap financing loans for the development of affordable housing for low and very low income households. HOME funds are allocated through the application process for construction, acquisition, rehabilitation, or acquisition with rehabilitation of multi-family rental housing for individuals, families, or senior citizens. HOME applications may be submitted anytime throughout the year and can be accessed by clicking on the link at the end of this page.
Thinking of using HOME funds for a project in your area?
Contact our HOME Technical Assistance Specialist to help you get started. It is strongly encouraged that all applicants work with the HOME staff prior to submitting an application. Please call 208-331-4873 or email jerik@ihfa.org. Applicants should also review the HOME Administrative Plan for further program details and federal requirements. For example, HOME funds require a 25% match of non-federal resources and must meet minimum affordability requirements including income and rent.
Please Note: All documents below require Acrobat Reader for viewing.
EXHIBIT R will give you a few examples of how your HOME loan may be structured for repayment.
EXHIBIT S is a very important pre-submission step that allows IHFA to begin the environmental review process for your project site. It is requested that you submit Exhibit S at least 45 days prior to making application to:
Attn: Technical Assistance Specialist, Grant Programs
Idaho Housing and Finance Association
PO Box 7899
Boise, Idaho 83707-1899
HOME Funds Eligibility
The following properties are eligible:
- Rental projects of one or more buildings on a single site;
- Rental projects on multiple sites that are under common ownership, management and financing;
- Mixed-income projects;
- Transitional Housing;
- Permanent Housing;
- Group Homes;
- Single Room Occupancy (SRO).
The following properties are ineligible:
- Projects eligible to receive assistance under Title VI of NAHA - Low Income Housing Preservation and Resident Homeownership Act (LIHPRHA)
- Public Housing projects
- Choice Limiting activities (Environmental Review Link)
- Completed HOME projects
- Nursing Homes
- Mental Health Facilities
- Homeless Shelters
- Uniform Relocation Act procedures not followed
During the first year after a HOME project is completed, additional HOME funds may be committed to a project. After the first year, no additional HOME funds may be provided to a HOME-assisted project during the relevant period of affordability, except that: 1) rental assistance to families may be renewed; 2) rental assistance may be provided to families that will occupy housing previously assisted with HOME funds; and 3) a home buyer may be assisted with HOME funds to acquire a unit that was previously assisted with HOME funds.