Program Overview

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. One of these activities is the acquisition and rehabilitation or new construction of rental housing. As 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.

The Asset Management Department is responsible for ensuring the ongoing compliance of rental housing that has been financed by MHDC using federal HOME funds. This includes ensuring that the owners of such housing are complying with the income limits, rent restrictions, physical condition standards and other compliance issues specified by federal HOME guidelines to meet the housing needs of low and very low income Missouri households.

MHDC also uses HOME funds for the HeRO (HOME Repair) Program and the Down Payment Assistance Program. Missouri Housing's Homeownership Department ensures agencies provided funding for these programs complies with federal HOME guidelines.