HOME Program

The Home Invested Partnerships Program (HOME) is funded by the U. S. Department of Housing and Urban Development (HUD). The purpose of this housing rehabilitation program is to provide technical assistance and financial assistance to owners of existing owner-occupied housing in order to:

1. Improve housing conditions for low and moderate income families;
2. Increase the supply of affordable, decent, safe and sanitary housing; and
3. Encourage the revitalization of deteriorated neighborhoods.

This plan along with the Western Tidewater HOME Consortium (WTHC) guidelines outlines the process of implementation of the HOME Program for the City of Franklin locality by the Franklin Redevelopment and Housing Authority.

The HOME Program assists qualified residents in the City of Franklin in the following manner:

• Forgivable loans for rehabilitation of owner-occupied single-family houses;
• Forgivable loans for rehabilitation or substantial rehabilitation of single-family houses being purchased for occupancy by first time home buyer;
• Forgivable loans for construction of single family houses for persons who are owner-occupants of houses that are unable to be rehabilitated, because of deteriorated condition or narrowness, shallowness or smallness of lot;
• Forgivable loans for down payments and closing costs in purchasing existing or new single-family houses for occupancy by first time home buyer.
• Forgivable loans for rehabilitation or substantial rehabilitation of single-family owner-occupied homes in The City of Franklin.
• Forgivable loan for down payment, closing costs and rehabilitation or substantial reconstruction of a residential property being sold to a first time home buyer.
• No more than six forgivable loans for down payments and closing cost in purchasing existing houses owned by the Franklin Redevelopment and Housing Authority for occupancy by public housing and or/first-time home buyer.