Funding Allocation Summary: $350,000,000.00

The Government of Puerto Rico and the Puerto Rico Department of Housing (PRDOH), as grantee, of the funds allocated by the United States Department of Housing and Urban Development (HUD); is proud to present the Homebuyer Assistance Program (HBA).

Program Description:

Outmigration was a challenge to community sustainability and viability across Puerto Rico before the hurricanes and following these disasters this problem has only magnified. There are decreasing levels of homeownership across the Island and a growing stock of vacant homes.

Availability of affordable housing options is part of the equation, but the financial stability and resources available to residents to purchase their own homes are also important parameters related to an individual or family’s ability to secure long-term options and contributes to long-term community recovery. For individuals and families considering the option to return to their community or move, it is often a consideration of the ability to reestablish a firm foundation, whether to re-root themselves or seek a new opportunity elsewhere.

The Homebuyer Assistance Program (HBA) helps Puerto Ricans purchase homes through a variety of support mechanisms, thereby increasing the level of homeownership in impacted communities and contributing to long-term sustainability and viability of communities across the Island. The Puerto Rico Department of Housing (PRDOH) has designated the Puerto Rico Housing Finance Authority (PRHFA) as the Subrecipient for the Homebuyer Assistance Program.

The Program will support income-eligible, first-time homebuyers with financial assistance to be used towards the down payment and closing costs/eligible prepaids of a new home.

Guidelines

FileAction
Program Guidelines (V2.0) -- Posted 07/21/2020Download 
Program Guidelines (V1.0) -- Posted 07/01/2020Download 
URA & ADP Guide -- Posted 08/02/2019Download 
Cross Cutting GuidelinesDownload 

    Environmental Forms

    FileAction
    Airport NotificationDownload 
    Floodplain Management Partner WorksheetDownload 
    Airport Hazards Partner WorksheetDownload 
    Coastal Barrier Resources Act Partner WorksheetDownload 

      The Program will seek to target Critical Recovery Workforce sectors, recognizing the importance of first responders, teachers, healthcare workers and medical personnel, and law enforcement. This Program understands that these members of the workforce are instrumental in incentivizing the return of other residents to ensure community viability, and sufficient workforce in these critical sectors is vital in creating positive ripple effects across communities, as they provide public safety, emergency support, education for school age children, and healthcare for families in communities working to recover and rebuild. As PRDOH recognizes the integral role that Critical Recovery Workforce (CRW) members, public or private, have in our communities, the Program will prioritize CRW households for the first forty-five (45) calendar days from when the Program launches.

      The Program will provide grants of up to a maximum of:

      Also, the HBA Program will provide an additional redevelopment incentive of up to five thousand dollars ($5,000.00) to eligible households who elect to purchase a home in a designated Urban Center, as certified by PRDOH.

      See below definition for First-time homebuyer:

      First-time homebuyer means an individual and his or her spouse who have not owned a home during the 3-year period prior to purchase of a home. The term first-time homebuyer also includes an individual who is a displaced homemaker or single parent as defined in 24 C.F.R. § 93.2.

      See below Income Limits in Puerto Rico:

      income

      See below definition for Critical Recovery Workforce Member(s):

      For purposes of this Program, refers to documented members of the Critical Recovery Workforce, including first responders, medical personnel, teachers (PreK-12), and law enforcement officials who are either LMI (below 80% AMFI) or Urgent Need (below 120% AMFI).

      What is the purpose of the Program?

      The HBA Program removes financial barriers to the dream of homeownership by lowering home acquisition costs and enabling qualified families to purchase a home. The Program seeks to:

      • Increase homeownership rates that will support long-term sustainability and economic viability of communities impacted by Hurricane Irma and María across the Island;
      • Incentivize the CRW to continue to reside in communities helping to reduce outmigration and improve job retention and productivity; and
      • Improve the opportunities of homeownership for Low-Moderate Income and Urgent Needs households in Puerto Rico.

      How can I apply?

      Interested Applicants may apply for the Homebuyer Assistance Program through the participating lending institutions, to see the current list of lending institutions, please click here.

      This list includes the group of lending institutions that currently participate in the Homebuyer Assistance Program (HBA). However, more lending institutions could gradually join the Program. The Puerto Rico Department of Housing (PRDOH) – in collaboration with the Puerto Rico Housing Finance Authority (PRHFA) – will regularly update the list of participating lending institutions. The lending institutions listed here do not have the PRDOH endorsement, nor their authorized representatives. If your preferred lending institution is not listed, please email HBA-info@afv.pr.gov.

      How does the Homebuyer Assistance Program work?

      The Program is designed to complement a normal private market real estate transaction in that it will be administered with the least number of additional overlays as possible, while still maintaining program compliance. The following is a high-level overview of the application process:

      Flow Chart

      What is required to apply?

      Applicants will be required to provide complete and accurate information regarding their household composition, household income, and other eligibility criteria.

      Redevelopment Incentive

      The PRDOH seeks to incentivize the revitalization of urban areas through the redevelopment incentive. A strong urban core can create the conditions required for an efficient city, capable of promoting innovation, a higher quality of life, and economic development with shared prosperity that benefits the whole community.

      To see if the home you are interested in qualifies as a PRDOH designated urban center please click here.

      How does this program benefit Puerto Rico?

      Support community sustainability and viability by increasing homeownership rates in communities across the Island. Increases in long-term homeowner residents will contribute to additional positive ripple effects in communities. Supporting critical recovery workforce personnel in homeownership will further incentivize the return or maintenance of a greater population base.

      Contact Information

      E-mail:
      HBA-info@afv.pr.gov

      Mailing Address:
      PO BOX 71
      San Juan, PR 00936-8
      Attention to: Homebuyer Assistance Program

      Call Center:
      1-833-234-2324
      TTY 787-522-5950

      Frequently Asked Questions

      Applicants will be required to provide complete and accurate information regarding their household composition, household income, and other eligibility criteria.

      For purposes of this Program, refers to documented members of the Critical Recovery Workforce including, first responders, medical personnel, teachers (PreK-12), and law enforcement officials who are either LMI (below 80% AMFI) or Urgent Need (below 120% AMFI).

      Law Enforcement: Law enforcement officer employed full-time by a law enforcement agency of Puerto Rico or a unit of general local government; and, in carrying out such fulltime employment, are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws.

      Teachers: Employed as a full-time teacher by a Puerto Rico-accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12.

      Firefighter/Emergency Medical Technicians/ Medical Personnel: Employed full-time as a firefighter or emergency medical technician by a fire department or emergency medical services responder unit of Puerto Rico or a unit of general local government. Employed full-time as a medical professional under definition of the Puerto Rico Department of Health.

      Yes. To qualify for assistance under this Program, Applicants are required to attend and complete a Homebuyer Education course with a HUD-approved housing counseling agency. The Housing Counseling requirement must be fulfilled prior to closing. No CDBG-DR funds will be committed or disbursed until the housing counseling requirement has been fulfilled. For more information about the Housing Counseling Program, location and contact of our Counseling Agencies, please click here.

      Interested Applicants may apply for the Homebuyer Assistance Program through the participating lending institutions, to see the list of lending institutions, please click here.

      During the first forty-five (45) calendar days of the application intake period, the Program will prioritize eligible households that contain CRW members. Priority Applicants who submit all documents required for eligibility review during this forty-five (45) calendar days period will be reviewed for eligibility prior to reviewing eligibility for nonpriority Applicants.

      Homebuyers must purchase an existing market-listed home ready to move-in. Only single-family residential units located in Puerto Rico will be eligible for the Program. For the purposes of this Program, single-family homes may include a dwelling within a one- to two-unit structure. Single family units may include, but are not limited to:

      • Duplexes;
      • Manufactured Housing Units (MHU);
      • Detached, stand-alone, concrete residential structures;
      • Attached single family;
      • Condominium Unit; and
      • Cooperative Unit.

      Yes. While homebuyers may choose to purchase homes anywhere in Puerto Rico, Program participants are encouraged to purchase Real Estate Owned (REO) properties.

      The Program will provide grants of up to:

      • a maximum of twenty-five thousand dollars ($25,000) per eligible Low and Moderate-Income and Urgent Need households; and
      • a maximum of thirty-five thousand dollars ($35,000) per eligible Low and Moderate-Income and Urgent Need households; and

      The Program will provide an additional redevelopment incentive of up to five thousand dollars ($5,000) to eligible households who elect to purchase a home in a designated urban center certified by PRDOH.

      The Program has defined the urban centers for each municipality in Puerto Rico. The maps are published and made available through the website.

      No, it does not. However, any assistance determined to be duplicative must be deducted from the Program’s calculation of the applicant’s total need prior to awarding assistance.

      The Robert T. Stafford Disaster Relief and Emergency Assistance Act (Stafford Act), as amended, 42 U.S.C. § 5121 et seq., prohibits any person, business concern, or other entity from receiving Federal funds for any part of such loss as to which they have received financial assistance under any other program, from private insurance, charitable assistance, or any other source.