The Homeownership Section administers programs and financing for first-time homeownership, foreclosure prevention, neighborhood stabilization, and rural housing rehabilitation. The section and the programs uses state funds to assist first-time homebuyers to secure loans, access homebuyer education, and homebuyer counseling.

 

The Homeownership Section uses tax-exempt revenue bonds to finance below market rate mortgage loans. Homeownership assistance and foreclosure prevention is delivered in partnership with local non-profit organizations through the state. Neighborhood stabilization uses federal funds for the acquisition, rehabilitation or redevelopment of abandoned and foreclosed properties, in partnership with local governments and non-profit organizations.