House Subcommittee Leaders Meet with NAR on HOME Program Modernization Proposals

NAR presented its HOME Investment Partnerships Program modernization recommendations to House Financial Services Subcommittee Chairman Mike Flood (R-NE) and Ranking Member Emanuel Cleaver, II (D-MO). Following NAR's written response to the subcommittee's Request for Information on HOME program improvements, the lawmakers invited NAR to present its recommendations in person.

The presentation outlined four key policy changes to help the HOME program better serve low-income families seeking homeownership opportunities, including modernizing property value limits, simplifying resale provisions, enabling better leverage of HOME funding, and ensuring adequate down payment assistance funding.

The recommendations build on the program's 30-year track record of success, during which HOME has invested nearly $40 billion in affordable housing nationwide. NAR's proposals would remove regulatory barriers that prevent the program from reaching its full potential in today's housing market, while maintaining its focus on serving low- and very-low-income families.

The bipartisan meeting focused on practical solutions that could be included in future HOME reauthorization legislation. Both lawmakers expressed interest in working with NAR to advance policies that expand homeownership opportunities for working families.