Can an investor (an owner who doesn’t live on the property) obtain a loan under the HOME Program?
The HOME Program offers rehabilitation and acquisition loans to investors who are willing to provide decent, affordable housing to income-qualified households at rents set by the Department of Housing and Urban Development (HUD). It can be a single-family property, multi-family property or rental condo, but there are environmental reviews, federal requirements (Davis-Bacon Act, labor standards) and limits as to how much government money can be invested.
Related Questions
- Can I use the Downpayment Assistance Loan Program to purchase rental property? Can I rent out a property later after I live in it for a while?
- Can an investor (an owner who doesn’t live on the property) obtain a loan under the HOME Program?
- Can a tenant of a property obtain a rebate for products under the rebate program?
