Homebuyer Assistance with New Construction (HANC) Program

Overview

The Homebuyer assistance with new construction (HANC) program funds units of general local governments, public housing authorities, local mental health authorities, and nonprofits to provide mortgage financing to low-income homebuyers for the following activities:

1. Acquisition and New Construction of site-built housing;
2. Acquisition and placement of a new Manufactured Housing Unit (MHU);
3. Construction of Single Family Housing (including placement of an MHU) on a site already owned by the homebuyer.

Funds are provided to the homebuyer as a fixed-rate loan with a term of 15-30 years. Interest may be as low as zero percent.

Program Resources

• Reservation Summary
• Rules and Regulations
• Technical Assistance
• Funding Request Application Materials
• Administrative Forms