HOME Program

Summary:
HOME is a grant provided by the U.S. Department of Housing and Urban Development. GHURA administers the grant on behalf of Guam. HOME grants fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or home ownership or provide direct rental assistance to low-income people. HOME is designed exclusively to create affordable housing for low-income households. The program's flexibility allows States and local governments to use HOME funds for grants, direct loans, loan guarantees or other forms of credit enhancement, or rental assistance or security deposits.

Eligible Applicants:
Applicants must be organizations or individuals on Guam.

1. Government agencies,
2. Non-profit organizations, and
3. Low-income families.

Eligible Beneficiaries:
The eligibility of households for HOME assistance varies with the nature of the funded activity.

1. All Home funds must be used to assist families or individuals with incomes at      or less than 80 percent of Guam’s median income. HUD publishes HOME Income Limits for Guam each year.
2. For  rental housing and rental assistance, at least 90 percent of benefiting      families must have incomes that are no more than 60 percent of the      HUD-adjusted median family income for the area.
3. In rental projects with five or more assisted units, at least 20% of the units must be occupied by families with incomes that do not exceed 50% of the HUD-adjusted median. The incomes of households receiving HUD assistance must not exceed 80 percent of the area median.
• HOME-assisted rental housing must comply with certain rent limitations. HOME Rent Limits are published each year by HUD. The program also establishes maximum per unit subsidy limits and maximum purchase-price limits.

Eligible Activities:

1. Home purchase or rehabilitation financing assistance to eligible homeowners and new home buyers;
2. Building or rehabilitating housing for rent or ownership;
3. Site acquisition or improvement,
4. Demolition of dilapidated housing to make way for HOME-assisted development, and payment of relocation expenses,
5. Tenant-based rental assistance contracts,
6. Program planning and administration.

Application:

To receive a HOME grant, an applicant must submit a proposal to GHURA’s Research, Planning and Evaluation Office. For application kit, contact the Research, Planning and Evaluation Office at Phone: 671-475-1407, Fax: 671-477-5057

Technical Guidance:

HOME is authorized under Title II of the Cranston-Gonzales National Affordable Housing Act, as amended. Program regulations are at 24 CFR Part 92. Additional information about the HOME program can be found by visiting the HOME program web pages at the U.S. Department of Housing and Urban Development web site.