HOME Programs Grant

The HOME program, administered by the Missouri Housing Development Commission, provides critical funding for affordable housing initiatives targeting low and very low-income families. This federally funded program supports activities such as rental housing acquisition, rehabilitation, and new construction. Eligible developers, including both for-profit and non-profit entities, must demonstrate relevant experience and financial capacity, ensuring that projects meet local housing needs and comply with affordability criteria.

The federally funded HOME program provides a financing source for several eligible activities that increase the supply of affordable housing for low and very low income persons. Funding is determined annually by HUD and depends on congressional appropriation. One of these activities is the acquisition and rehabilitation or new construction of rental housing. As the HOME Administrator for the state of Missouri, MHDC uses a portion of its annual HOME allocation to finance rental production at a very low interest rate, which results in rents that are affordable to low income families.
Developers (for-profit and non-profit) are eligible to apply for financing. Applicants must demonstrate prior, successful housing experience and engage the services of housing professionals; such as, architects, appraisers, attorneys, accountants, contractors and property managers with demonstrable multifamily housing experience. Developers must have the financial capacity to successfully complete and operate the proposed housing development.
Additionally, applications must meet a demonstrated low-income housing need, provide housing for low-income and very-low income persons and families, demonstrate local support, leverage HOME funds with tax credits, other equity and/or rental assistance, provide rents below HUD’s Fair Market Rents” or rents based upon a payment affordable to persons below 50 percent of the Area Median Income and be economically feasible.