PREVIEW Fiscal Year 2023 Homeownership Initiative Notice of Funding Opportunity
HUD published a Federal Register Notice announcing the publication of a preview of the Fiscal Year (FY) 2023 Homeownership Initiative Notice of Funding Opportunity (NOFO) to give interested applicants time to prepare their applications prior to the opening of the application period. HUD is NOT accepting applications for this NOFO during this preview period. HUD encourages interested applicants to read the entire NOFO preview and begin to prepare their responses to all Rating Factors.
During the preview period, interested applicants may submit questions on the NOFO preview to the following email address: firstname.lastname@example.org. Please use the e-mail subject line: FY 2023 Homeownership Initiative NOFO Preview.
Though all funding proposals are subject to change, HUD does not intend to make substantive changes at this point.
The Homeownership Initiative (HI) helps to bridge the homeownership gap by increasing homeownership rates among Underserved Communities. HUD-approved Intermediaries, Multi-State Organizations, and State Housing Finance Agencies will receive Fixed Amount Awards to provide Culturally Sensitive, Linguistically Appropriate Housing Counseling that results in home purchase, mortgage origination, and preservation of ownership. The purpose of this housing counseling is to improve the likelihood that a household is ready for the long-term legal and financial responsibility of homeownership and that terms and conditions of a mortgage are well-matched with the household’s personal and financial circumstances.
All counseling and follow-up must be provided in accordance with the Housing Counseling Program regulations (24 C.F.R. Part 214).
The Office of Housing Counseling’s Homeownership Initiative NOFO is a new grant program, utilizing the Fixed Amount Award (see 2 C.F.R. 200.1) reimbursement method, that will award grant funding to grantees to provide Culturally Sensitive, Linguistically Appropriate Housing Counseling that results in the purchase of a home and provides post-purchase counseling to help preserve homeownership in Underserved Communities.
Eligible applicants include Intermediaries or Multi-State Organizations (as defined by 24 C.F.R. 214.3) approved to participate in the HUD Housing Counseling Program prior to the NOFO issues date. In addition, State Housing Finance Agencies are eligible for this NOFO if they possess statutory authority to provide housing counseling throughout their state and adhere to all program requirements outlined in 24 C.F.R. 214, HUD Housing Counseling Handbook, 7610.1 Rev-5, and other governing policies and requirements. Eligible applicants must also have experience providing pre-purchase and post-purchase counseling directly or through their Subgrantees and/or Branches.
Program Office: Office of Housing Counseling
Funding Opportunity Title: Notice of Funding Opportunity (NOFO) for the Department's Fiscal Year 2023 Homeownership Initiative Grant
Funding Opportunity Number: FR-6700-N-90
Assistance Listing Number: 14.022
OMB Approval Number: Pending Approval
Preview Date: July 27, 2023
Deadline Date: TBD
Agency Contact: Questions regarding specific program requirements for this NOFO should be directed to: email@example.com