Banner
FileAction
Program Guidelines (V4.0) -- Posted 11/18/2021Download 
Program Guidelines (V3.0) -- Posted 10/22/2020Download 
Program Guidelines (V2.0) -- Posted 07/21/2020Download 
Program Guidelines (V1.0) -- Posted 07/01/2020Download 
URA & ADP Guide (V2.0)--Posted 03/30/2021Download 
Cross Cutting Guidelines (V3.0) -- Posted 06/08/2021Download 

General Allocation Summary: $295,000,000.00
Description: Homebuyer Program

Owning a home is a dream out of reach for many low- and moderate-income Puerto Ricans. The Homebuyer Assistance Program grants up to a maximum of $ 55,000 to homebuyers who do not own a home at the time of application for assistance under the Homebuyer Assistance Program.

After receiving financial assistance from the Program, the homebuyer must live in their new home for at least five years. Upon moving or selling the home before the contracted five years, the homebuyer must repay the Program portion of the original amount of the mortgage loan.

Additional details in the Program Guidelines section.

The applicant must meet the following requirements:

• Definition of “Qualified Homebuyer”.
• U.S. citizen, non-citizen national, or qualified alien.
• Income requirements as established by HUD.
• Complete a Homebuyer Education Course.
• Secure a first mortgage from a participating lending institution.
limit

SIX STEPS TO BECOME A HOMEBUYER

Title
ProcesS

ASSISTANCE

The Program utilizes CDBG-DR funds to provide direct assistance to homebuyers to facilitate and expand homeownership by using such assistance to:

  • Subsidize interest rates and mortgage principal amounts
  • Pay up to 100 percent (100%) of the down payment required by the mortgage for the purchase on behalf of the purchaser
  • Pay reasonable closing costs associated with the home purchase on behalf of the purchaser for LMI homebuyers only

The following are the maximum awards:

  • Non-Critical Recovery Workforce – a maximum of forty-five thousand dollars ($45,000) per eligible household; and
  • Critical Recovery Workforce – a maximum of  fifty-five thousand dollars ($55,000) per eligible household with CRW members.

In addition, the Program will provide an additional redevelopment incentive of up to five thousand dollars ($5,000) not to exceed the established Program cap for eligible households who elect to purchase a home in a designated urban center certified by PRDOH. To see if the home you are interested in acquiring qualifies as an urban center please click here.

CRITICAL RECOVERY WORKFORCE

The Program seeks to incentivize the public or private critical recovery workforce sectors authorized to and currently exercising their profession in Puerto Rico. Critical Recovery Workforce (CRW) professions include, but are not limited to:

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 12th grade 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:

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), and includes professionals from the private sector.

Supply Chain:

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:

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. 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:

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 12th grade 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:

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), and includes professionals from the private sector.

Supply Chain:

Supply Chain: 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:

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. Employees in registered organizations dedicated to services in benefit of animals, such as, among others, animal rescue.

FREQUENTLY ASKED QUESTIONS

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

The Program seeks to incentivize the public or private critical recovery workforce sectors authorized to and currently exercising their profession in Puerto Rico. Critical Recovery Workforce (CRW) professions  include, but are  not limited to:

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 12th grade 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), and includes professionals from the private sector.

Supply Chain:

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. 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 a participating Lending Institution of their choice (to view the Participating Lending Institution list, click here, PRHFA, or an authorized PRHFA representative.

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 $45,000 per eligible Low and Moderate-Income and Urgent Need households; and
  • a maximum of $55,000 per eligible Low and Moderate-Income and Urgent Need households for households with Critical Recovery Workforce members.

The Program will provide an additional redevelopment incentive of up to five thousand dollars ($5,000) not to exceed the established Program cap for 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 will be published and made available at, click here.

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.

For this Program, the Puerto Rico Housing Finance Authority will allow Applicants to purchase homes which require minor repairs provided that the following criteria is fulfilled:

  • The program funds will not be used towards repairs;
  • Repairs and improvements are covered under the Applicant’s mortgage.
  • Repairs and improvements are limited to those identified in the property’s Appraisal Report; and
  • Required improvements are nonstructural in nature and do not exceed thirty-five thousand dollars ($35,000).

No. The assistance will only be used towards a down payment on a new or existing home.

The living area must be built entirely out of concrete. In case the chosen property has a section made of wood or metal, it cannot be in a living area. These cases are evaluated by the Program on an individual basis.

No. Each applicant will need to search for a property that is qualified and ready to live through an independent search or with a real estate agent.

Yes. The applicant must notify the original selected lending institution of the interest of withdrawing the application to the Program.  Once the financial institution carries out the withdrawal process, the applicant may search the list of participating lending institutions under the Program to select a new lending institution.

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 the lending institution of your choice is not on the list, you may evaluate applying to the Program through one of the participating lending institutions.

Under the Homebuyer Assistance Program an affordability period exists, this the period of time the homebuyer is required to own and occupy the property as their primary residence which is tied to the amount of assistance provided. The borrower must occupy the property as the primary residence for five (5) years. This period begins on the closing date, when the Mortgage Deed and Restrictive Clauses are signed. If the terms and conditions of the second lien are violated, the PRHFA is entitled to recover all or part of the grant. The grant balance will be waived or reduced by twenty percent (20%) for each year of residency completed, no credit given for partial years completed.

MORE QUESTIONS ABOUT THE PROGRAM?

PUERTO RICO HOUSING FINANCE AUTHORITY

URB. ALTAMIRA 638 ALDEBARÁN STREET
SAN JUAN, PUERTO RICO
TEL. 787-946-0045 ext. 4620 | HBA-INFO@AFV.PR.GOV

CALL CENTER
1-833-234-2324
TTY 787-522-5950

POSTAL ADDRESS
HOMEBUYER ASSISTANCE PROGRAM
PO BOX 71361
SAN JUAN, PR 00936-8461