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Margert Community Corporation

Serving the Five Boroughs of NYC and Long Island

 

HOME Program

HOME Program

The New York State HOME Program is administered by the New York State Housing Trust Fund Corporation (HTFC). The program uses federal HOME Investment Partnership Program funds to expand the supply of decent, safe, and affordable housing within the State.

The HOME Program funds a variety of activities through partnerships with counties, towns, cities, villages, private developers, and community-based non-profit housing organizations.

The program provides funds to acquire, rehabilitate, or construct housing, or to provide assistance to low-income home-buyers and renters. Funds must be distributed in accordance with needs and priorities identified in the State's Consolidated Plan.


Income Eligibility: HOME Program funds may only be used to assist households with incomes at or below 80 percent of area median income. Rental projects must primarily serve households with incomes at or below 60 percent of area median income.

Funding Limitations: HOME Program funds may be used to pay for acquisition, rehabilitation, construction, and certain related soft costs.

Funds may also be used for relocation costs, tenant-based rental assistance, down payment and closing costs, and some administrative and planning costs, subject to limitations set forth in the federal regulations. Funds may only be used for residential housing. There are restrictions on the use of HOME funds for properties assisted by certain other federal programs.


Margert's First HOME Program funds are used to provide a first time homebuyer purchase assistance subsidy, in the form of a deferred payment (forgivable) loan. You must live in your new home for a minimum of 10 years to avoid HOME program recapture provisions.

Eligible HOME recipients must be residents of New York State and able to provide proof of residency.


To qualify for our HOME program, you must complete a homebuyer education course taught by Margert Community Corporation.

Apply for Margert's First HOME program.