The City accepts proposals on a rolling basis to finance a portion of the acquisition, construction and/or rehabilitation costs of affordable housing projects. The HOME program requires a 25% match to the total HOME investment. For example, if the City allocates $100,000 in HOME funds, the developer must provide at least $25,000 in private funds.
As of July 1, 2020 there is approximately $771,000 of HOME funds available for general rental or home ownership development; CHDO specific funding totals $140,407.
HOME funds come with certain restrictions, including environmental review, long-term affordability, rent restrictions and housing quality standards. HOME funds are intended to fill a gap in the total cost of development, they are not intended as the primary source of financing. The City encourages development of low-income housing throughout the city, especially outside of the downtown area. For additional information, please explore the links below and contact our department with any questions:
- HOME Application (PDF) This link is for review, please contact the department to obtain the Excel file required to apply
- HOME Program Rules (PDF) Nashua’s complete program guidelines
- CHDO Certification Application (PDF) Non-profit housing developers (certified)
- HOME Final Rule (PDF) HUD Regulations
Home Buyer Programs
At this time the City does not operate a down-payment assistance program. From time to time, HOME funds are used to help develop home-owner units. Currently, funds are allocated to a Veteran’s Build project through Greater Nashua Habitat for Humanity. The two-unit home is being built at 10 Paxton Terrace in Nashua. Habitat is accepting applications directly; more information can be found on their website http://www.nashuahabitat.org/ownrepair-a-home/veterans-build/ (this will redirect you to an outside site)