The HOME program is the primary resource for filling those financing gaps. It is important that HOME funding expand along with Housing Credits to ensure that the overall housing production system can expand smoothly. HOME is a proven, flexible and extremely cost-effective housing production program. HOME works effectively in both urban and rural communities. HOME now finances over 80,000 affordable rental and ownership homes annually .
HOME is a block grant that works through states and localities .
It is flexible in meeting local needs for both homeownership and rental housing. HOME may be used in the construction of new housing as well as the rehabilitation and preservation of existing housing. HOME serves families, the elderly, the disabled and the homeless. HOME reaches genuinely low-income families and communities . While HOME and Housing Credits work very well, there are limits to what they can do.