NYS HOME Homebuyer Development

The New York State HOME Program, administered by the New York State Housing Trust Fund Corporation (HTFC), leverages federal HOME Investment Partnership Program funds to address housing challenges across New York. This initiative plays a critical role in ensuring access to affordable, safe, and decent housing by supporting a range of activities from acquisition to construction and rehabilitation. The program works through partnerships with counties, towns, cities, villages, developers, and nonprofit housing organizations. As a part of the federal HOME program under 24 CFR Part 92, it adheres strictly to federal requirements concerning allocations, qualifying uses, affordability standards, and compliance procedures. Through the HOME Local Program, HTFC offers funding for homeowner rehabilitation, homebuyer assistance, tenant-based rental assistance, and manufactured home replacement, among other housing priorities. Eligible activities include both hard costs—such as acquisition, rehabilitation, and construction—and soft costs, including planning and administrative expenses. Notably, the program requires that all assisted units meet New York State Code at project completion. Fifteen percent of each HOME allocation must be reserved for certified Community Housing Development Organizations (CHDOs), reinforcing the program’s commitment to community-driven solutions. Eligibility for the HOME Local Program is extended to a wide array of applicant types, including units of local government, nonprofit and for-profit developers, public housing authorities, and CHDOs. Applicants must demonstrate both a local market need and capacity for program administration, and must have provided recent, relevant residential housing services for at least a year. Direct federal HOME funding recipients may apply but could be required to contribute HOME funds of their own. Eligible program participants include households earning at or below 80% of the area median income (AMI), with rental housing restricted to those at or below 60% AMI. The period of affordability ranges from 5 to 20 years depending on investment level and project type. The 2025 round of the NYS HOME Local Program is currently closed. Applicants were expected to submit through the Community Development Online platform, accompanied by documents including the HOME Local Budget Workbook, Grant Verification Form, and relevant administrative plans based on activity type (e.g., Homebuyer Down Payment Assistance, Tenant-Based Rental Assistance). All applicants were directed to review the program’s technical standards, income limits, property standards, and documentation guidelines. Detailed application instructions and a schedule for disbursements and milestones were made available to assist with submissions. HTFC evaluates project proposals based on eligibility, need, feasibility, and timing. Though specific scoring rubrics are not publicly disclosed, the program emphasizes alignment with state housing priorities and adherence to federal HOME guidelines. Organizations are encouraged to contact [email protected] with questions or to submit preliminary proposals for discretionary consideration outside the formal round. While the next application round for the NYS HOME Local Program is anticipated in 2026, official materials for that cycle have yet to be released. Prospective applicants are advised to use the 2025 materials as a planning reference and monitor the program website for updates. The program does not specify award notification timelines, but projects must comply with required performance and affordability periods following award. Recurrence is annual, with program materials typically updated and released at the start of each calendar year.