Can GMHF funding be used for Homeownership Education Counseling and Training (HECAT)-type activities?
Homebuyer education and counseling is identified as one of the six key barriers to homeownership in the EMHI Business Plan. As a result, GMHF anticipates that a share of its pilot program funding may be used to support homebuyer education and counseling that is culturally-sensitive and/or offered in additional languages. However, applicants should continue to apply for HECAT funding to provide a significant share of their homebuyer support services funding. 6) What does “priority access to GMHF gap financing” mean for the pilot program? The primary purpose of the emerging markets pilot program is to support systems change that will allow more households of color to achieve sustainable homeownership. GMHF recognizes that some additional subsidy may be needed to help some low- and moderate-income households achieve homeownership. GMHF encourages pilot projects to leverage the range of available subsidy resources, including Minnesota Housing programs, to increase affordable homeownership
