Enable low and very-low income households to become or remain homeowners. Direct, forgivable loans to assist development projects involving multiple ownership units, including single-family subdivisions.
Funding is set aside for homeowners of manufactured homes.
All funds to individual homeowners will be in the form of loans. Loans for real property acquisition, site development, predevelopment, construction period expenses of homeownership development projects, or permanent financing for mutual housing and cooperative developments. Project loans to developers may be forgiven as developers make deferred payment loans to individual homeowners. A share of funds is allocated for the rehabilitation, replacement and repair of manufactured homes.