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.
Applicants must be organizations or individuals on Guam.
- Government agencies,
- Non-profit organizations, and
- Low-income families.
The eligibility of households for HOME assistance varies with the nature of the funded activity.
- 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.
- 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.
- 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.
- Home purchase or rehabilitation financing assistance to eligible homeowners and new home buyers;
- Building or rehabilitating housing for rent or ownership;
- Site acquisition or improvement,
- Demolition of dilapidated housing to make way for HOME-assisted development, and payment of relocation expenses,
- Tenant-based rental assistance contracts,
- Program planning and administration.
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.