Housing Counseling Program Homeownership Initiative
Program Objective
The Homeownership Initiative (HI) helps to bridge the homeownership gap by increasing homeownership rates among historically underserved borrowers. HUD-approved Intermediaries, Multi-State Organizations, and State Housing Finance Agencies will receive fixed amount awards to provide culturally sensitive linguistically appropriate pre-purchase and post-purchase counseling that results in home purchase.
Eligibility
Eligible Applicants
- Other
Qualified public or private nonprofit organizations. There are three categories of eligible applicants: (1) HUD-approved intermediary; (2) State housing finance agency; and (3) multi-state organizations.
Beneficiaries
- Consumer
How to Apply
Award Procedure
All applications will be scored on a 100 point scale, not including preference points. If available funds are insufficient to provide grants to all Applicant's achieving the minimum fundable score, grants will be awarded in rank order until all available funds have been distributed. HUD reserves the right to adjust the minimum fundable score.
Program details & compliance
Description
The Homeownership Initiative (HI) helps to bridge the homeownership gap by increasing homeownership rates among historically underserved borrowers. HUD-approved Intermediaries, Multi-State Organizations, and State Housing Finance Agencies will receive fixed amount awards to provide culturally sensitive linguistically appropriate pre-purchase and post-purchase counseling that results in home purchase.
Mission Categories
Primary: Homebuying, Homeownership
Use of Funds
Allowed Uses
This grant is a Fixed Amount Award (2 C.F.R. 200.1), adhering to the Federal requirement of Fixed Amount Awards outlined in 2 C.F.R. 200.201(b). The following conditions apply:
a) Definition of Unit. For this NOFO, a unit is defined as a household that has successfully completed the following three components: pre-purchase counseling; purchase of a home and mortgage origination; and post-purchase counseling, or certification that post-purchase counseling will be completed 6-12 months after home purchase and mortgage origination.
Pre-purchase counseling topics may include, but are not limited to, the topics listed in 24 C.F.R. 214.300(e)(1). Post-purchase counseling refers to counseling relevant to the client after home purchase and mortgage origination. Topics could include, but are not limited to, those listed in 24 C.F.R. 214.300(e)(2) and (3).
Required Documentation
Eligible applicants must satisfy the following criteria: 1. An Intermediary or Multi-State Organization (as defined by 24 C.F.R. 214.3) approved to participate in the HUD Housing Counseling Program prior to the NOFO issue date. In addition, State Housing Finance Agencies are eligible for this NOFO if they possess statutory authority to provide housing counseling throughout their state and adhere to all program requirements outlined in 24 C.F.R. Part 214, HUD Housing Counseling Handbook 7610.1, and other governing policies and requirements. 2. Experience with providing pre-purchase counseling and post-purchase counseling directly or through its Subgrantees and/or Branches.
Reporting & Compliance
Applicable 2 CFR 200 Subparts
- Subpart B — General Provisions
- Subpart C — Pre-Federal Award Requirements
- Subpart D — Post-Federal Award Requirements
- Subpart E — Cost Principles
- Subpart F — Audit Requirements