2026 Homebuyer Development Open Funding Round
Homes and Community Renewal's 2026 Homebuyer Development Open Funding Round supports the creation of affordable homeownership units across New York through acquisition, new construction, and substantial rehabilitation.
Funder: Homes and Community Renewal
Due Dates: May 1, 2026 (application open) | October 30, 2026 (final deadline)
Funding Amounts: Up to $1 million per project; up to $250,000 per home (2–4 bedrooms), $208,049 for 1-bedroom homes; contract term up to 3 years.
Summary: Supports the acquisition, construction, and sale of affordable homebuyer units in New York State, providing forgivable construction loans to eligible developers.
Key Information: Mandatory technical assistance meeting with HOME staff required before applying.
Description
The New York State HOME Homebuyer Development Open Funding Round, administered by Homes and Community Renewal (HCR) through the Housing Trust Fund Corporation (HTFC), provides up to $1 million per project for the development of affordable homebuyer units statewide. Funding supports acquisition, new construction (including modular and manufactured homes), and substantial rehabilitation, with the goal of expanding affordable homeownership opportunities for low- and moderate-income households. Projects must comply with federal and state HOME regulations, including affordability and property standards. All applicants must complete a pre-application technical assistance consultation with HOME staff before submitting an application.
