HBA Banner

Funding Allocation Summary: $350,000,000.00

Description:

The Homebuyer Assistance Program (HBA) supports income-eligible and qualified, first-time homebuyers with financial assistance to be used towards the down payment and closing costs/eligible prepaids of a new home. The property purchased through this Program must be located in Puerto Rico.

GUIDELINES

FileAction
Program Guidelines (V3.0) -- Posted 10/22/2020Download 
URA & ADP Guide -- Posted 08/02/2019Download 
Cross Cutting Guidelines (V2.0) -- Posted 10/28/2020Download 
    FileAction
    Program Guidelines (V2.0) -- Posted 07/21/2020Download 
    Program Guidelines (V1.0) -- Posted 07/01/2020Download 

      DO I QUALIFY?

      • First-time homebuyer (or have not owned a home in the previous 3 years).
      For details click here.

      See 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.

      • Household income does not exceed 120% of Area Median Income.
      For details click here.
      Tabla

      HOMEOWNER JOURNEY

      House Counseling Course
      Evaluation and Determination of Eligibility
      Loan Process

      Housing Counseling Course:

      Complete a homebuyer education course and obtain a homebuyer education course certificate through a HUD – Approved Agency. For details click here.

      Evaluation and Determination of Eligibility:

      • Obtain a Program eligibility determination through a participating lending institution.
      • The applicant will need to provide information to determine the household income and whether first-time homebuyer requirement is met.
      • Once the information is submitted, a determination will be provided by PRHFA.

      Loan Process:

      Qualify for a home loan through a participating lending institution, click here.

      Evaluation of the Property
      Submit Application
      Closing Process

      Submit Application:

      Complete a Program application and submit all required program documentation.

      Evaluation of the Property:

      Complete the Property eligibility determination, including environmental review and property inspection.

      Closing Process:

      • Complete the loan closing.
      • Sign the Program’s terms and conditions disclosure.
      • PRHFA will work with the Applicant’s Financial Institution for disbursement.
      House Counseling Course

      Housing Counseling Course:

      Complete a homebuyer education course and obtain a homebuyer education course certificate through a HUD – Approved Agency. For details click here.

      Evaluation and Determination of Eligibility

      Evaluation and Determination of Eligibility:

      • Obtain a Program eligibility determination through a participating lending institution.
      • The applicant will need to provide information to determine the household income and whether first-time homebuyer requirement is met.
      • Once the information is submitted, a determination will be provided by PRHFA.
      Loan Process

      Loan Process:

      Qualify for a home loan through a participating lending institution, click here.

      Evaluation of the Property

      Submit Application:

      Complete a Program application and submit all required program documentation.

      Submit Application

      Evaluation of the Property:

      Complete the Property eligibility determination, including environmental review and property inspection.

      Closing Process

      Closing Process:

      • Complete the loan closing.
      • Sign the Program’s terms and conditions disclosure.
      • PRHFA will work with the Applicant’s Financial Institution for disbursement.

      HBA ASSISTANCE

      The Program provides need-based assistance in the form of:

      • Down payment
      • Closing costs

      The following are the maximum awards:

      • Non-Critical Recovery Workforce – a maximum of twenty-five thousand dollars ($25,000) per eligible household; and
      • Critical Recovery Workforce – a maximum of thirty-five thousand dollars ($35,000) per eligible household.

      In addition, if the residence is located within a designated urban center, it may be eligible for the Redevelopment Incentive. To see if the home you are interested in qualifies as a PRDOH designated urban center please click here.

      CRITICAL RECOVERY WORKFORCE

      The Program will seek to target public or private critical recovery workforce sectors, recognizing the importance of their service. See Critical Recovery Workforce Member(s) definition:

      Law Enforcement:

      Law enforcement officers employed by a federal, state or municipal law enforcement entity in Puerto Rico; and, in carrying out such employment, are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws. Includes federal, state and municipal police officers; correctional officers under state or federal correctional departments, members of the Puerto Rico National Guard, and all branches of the U.S. Military Services.

      Education:

      Employees of a public or private educational institution in Puerto Rico, duly accredited, that provides direct services to students. This category includes: pre-kindergarten through 12 teachers, university professors, librarians, counselors, social workers, and other related personnel who provide services within an educational environment in Puerto Rico.

      Firefighters:

      Employed as a firefighter by the Puerto Rico Fire Department (“Cuerpo de Bomberos de Puerto Rico”) that is properly trained and directly performs tasks aimed at guaranteeing the protection of citizens against fires, preventing and fighting fires, saving lives and determining the origin and cause of the fire. This definition includes firefighters who serve as inspectors.

      Infrastructure:

      Workers employed in addressing the needs of Puerto Rico’s critical infrastructure, such as maritime ports, airports, aqueducts and sewer, electricity, gas, telecommunications, roads, highway and transportation.

      Atmospheric Surveillance:

      Staff employed by a federal, state or local entity dedicated to monitoring atmospheric conditions.

      Emergency Medical:

      Personnel employed of a Puerto Rico emergency services unit (public or private accredited entity). Person authorized by the Puerto Rico Secretary of Health and who has received training in the phases of emergency medical technology, which includes, among others, communication, emergency patient care, maintenance of work equipment, techniques and procedures of the Emergency Room (ER), patient handling and transportation, knowledge of the procedures used in obstetrics and assistance in respiratory and cardiac emergencies.

      Healthcare Professionals:

      Employed medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations; any of the professions in the field of health and medical care, such as, among others, doctors, surgeons, dentists, pharmacists, nurses and medical technologists, as authorized by the corresponding laws of Puerto Rico. Employed specialists in the area of social work, psychologists, psychiatrists and counselors duly authorized to practice the profession who are dedicated to provide prevention, treatment and rehabilitation services in the area of mental health. This category includes, but is not limited to, professionals from the Mental Health and Addiction Services Administration (ASSMCA, by its Spanish acronym), includes professionals from the private sector.

      Supply Chain:

      Full-time employees engaged in the transportation and delivery of food, health equipment and products, and basic necessities.

      Emergency Management:

      Workers employed in the public or private management of emergency disasters in Puerto Rico and its posterior recovery work.

      Veterinary / Animal Services:

      Employed animal medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations. Full-time employees in registered organizations dedicated to services in benefit of animals, such as, among others, animal rescue.

      Law Enforcement:

      Law enforcement officers employed by a federal, state or municipal law enforcement entity in Puerto Rico; and, in carrying out such employment, are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws. Includes federal, state and municipal police officers; correctional officers under state or federal correctional departments, members of the Puerto Rico National Guard, and all branches of the U.S. Military Services.

      Education:

      Employees of a public or private educational institution in Puerto Rico, duly accredited, that provides direct services to students. This category includes: pre-kindergarten through 12 teachers, university professors, librarians, counselors, social workers, and other related personnel who provide services within an educational environment in Puerto Rico.

      Firefighters:

      Employed as a firefighter by the Puerto Rico Fire Department (“Cuerpo de Bomberos de Puerto Rico”) that is properly trained and directly performs tasks aimed at guaranteeing the protection of citizens against fires, preventing and fighting fires, saving lives and determining the origin and cause of the fire. This definition includes firefighters who serve as inspectors.

      Infrastructure:

      Workers employed in addressing the needs of Puerto Rico’s critical infrastructure, such as maritime ports, airports, aqueducts and sewer, electricity, gas, telecommunications, roads, highway and transportation.

      Atmospheric Surveillance:

      Staff employed by a federal, state or local entity dedicated to monitoring atmospheric conditions.

      Emergency Medical:

      Personnel employed of a Puerto Rico emergency services unit (public or private accredited entity). Person authorized by the Puerto Rico Secretary of Health and who has received training in the phases of emergency medical technology, which includes, among others, communication, emergency patient care, maintenance of work equipment, techniques and procedures of the Emergency Room (ER), patient handling and transportation, knowledge of the procedures used in obstetrics and assistance in respiratory and cardiac emergencies.

      Healthcare Professionals:

      Employed medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations; any of the professions in the field of health and medical care, such as, among others, doctors, surgeons, dentists, pharmacists, nurses and medical technologists, as authorized by the corresponding laws of Puerto Rico. Employed specialists in the area of social work, psychologists, psychiatrists and counselors duly authorized to practice the profession who are dedicated to provide prevention, treatment and rehabilitation services in the area of mental health. This category includes, but is not limited to, professionals from the Mental Health and Addiction Services Administration (ASSMCA, by its Spanish acronym), includes professionals from the private sector.

      Supply Chain:

      Full-time employees engaged in the transportation and delivery of food, health equipment and products, and basic necessities.

      Emergency Management:

      Workers employed in the public or private management of emergency disasters in Puerto Rico and its posterior recovery work.

      Veterinary / Animal Services:

      Employed animal medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations. Full-time employees in registered organizations dedicated to services in benefit of animals, such as, among others, animal rescue.

      INFORMATION FOR REAL ESTATE AGENTS AND LENDING INSTITUTION PROFESSIONALS

      For Sale

      This section serves real estate agents and lending institution professionals in offering materials to help educate home buyers and promote the Homebuyer Assistance Program.

      • List of participating Lending Institutions. Click here.
      • List of housing counseling agencies. Click here.
      • To become a participating lender, please contact:

      Puerto Rico Housing Finance Authority (PRHFA)
      Urb. Altamira 638 Aldebarán Street
      San Juan, Puerto Rico
      Tel: 787-946-0045 | https://www.afv.pr.gov
      HBA-info@afv.pr.gov

      • Participating lending institutions must complete an HBA orientation session provided by PRHFA.
      • Additional orientations may be scheduled by contacting:

      Puerto Rico Housing Finance Authority (PRHFA)
      Urb. Altamira 638 Aldebarán Street
      San Juan, Puerto Rico
      Tel: 787-946-0045 | https://www.afv.pr.gov
      HBA-info@afv.pr.gov

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

      The Program will seek to target public or private critical recovery workforce sectors, recognizing the importance of their service. See Critical Recovery Workforce Member(s) definition:

      Law Enforcement:

      Law enforcement officers employed by a federal, state or municipal law enforcement entity in Puerto Rico; and, in carrying out such employment, are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws. Includes federal, state and municipal police officers; correctional officers under state or federal correctional departments, members of the Puerto Rico National Guard, and all branches of the U.S. Military Services.

      Education:

      Employees of a public or private educational institution in Puerto Rico, duly accredited, that provides direct services to students. This category includes: pre-kindergarten through 12 teachers, university professors, librarians, counselors, social workers, and other related personnel who provide services within an educational environment in Puerto Rico.

      Firefighters:

      Employed as a firefighter by the Puerto Rico Fire Department (“Cuerpo de Bomberos de Puerto Rico”) that is properly trained and directly performs tasks aimed at guaranteeing the protection of citizens against fires, preventing and fighting fires, saving lives and determining the origin and cause of the fire. This definition includes firefighters who serve as inspectors.

      Infrastructure:

      Workers employed in addressing the needs of Puerto Rico’s critical infrastructure, such as maritime ports, airports, aqueducts and sewer, electricity, gas, telecommunications, roads, highway and transportation.

      Atmospheric Surveillance:

      Staff employed by a federal, state or local entity dedicated to monitoring atmospheric conditions.

      Emergency Medical:

      Personnel employed of a Puerto Rico emergency services unit (public or private accredited entity). Person authorized by the Puerto Rico Secretary of Health and who has received training in the phases of emergency medical technology, which includes, among others, communication, emergency patient care, maintenance of work equipment, techniques and procedures of the Emergency Room (ER), patient handling and transportation, knowledge of the procedures used in obstetrics and assistance in respiratory and cardiac emergencies.

      Healthcare Professionals:

      Employed medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations; any of the professions in the field of health and medical care, such as, among others, doctors, surgeons, dentists, pharmacists, nurses and medical technologists, as authorized by the corresponding laws of Puerto Rico. Employed specialists in the area of social work, psychologists, psychiatrists and counselors duly authorized to practice the profession who are dedicated to provide prevention, treatment and rehabilitation services in the area of mental health. This category includes, but is not limited to, professionals from the Mental Health and Addiction Services Administration (ASSMCA, by its Spanish acronym), includes professionals from the private sector.

      Supply Chain:

      Full-time employees engaged in the transportation and delivery of food, health equipment and products, and basic necessities.

      Emergency Management:

      Workers employed in the public or private management of emergency disasters in Puerto Rico and its posterior recovery work.

      Veterinary / Animal Services:

      Employed animal medical professional duly admitted to practice in Puerto Rico (public or private accredited entity), in accordance with applicable laws and regulations. Full-time employees in registered organizations dedicated to services in benefit of animals, such as, among others, animal rescue.

      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:

      • Non-Critical Recovery Workforce – a maximum of twenty-five thousand dollars ($25,000) per eligible household; and
      • Critical Recovery Workforce – a maximum of thirty-five thousand dollars ($35,000) per eligible household.

      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.

      CONTACT INFORMATION

      mail iconMailing Address:
      PO BOX 71361
      San Juan, PR 00936-8461
      Attention to: Homebuyer Assistance Program

      tel iconCall Center:
      1-833-234-2324
      TTY 787-522-5950