Yes, the Recapture Agreement must be filed separately. The Mortgage/Note and Recapture Agreement documents should never be combined into one document. The Mortgage and Note are about money and the Recapture Agreement is about time.

No, this document is not required to be filed. A template is provided that ensures all written agreement requirements are met.

No, iThe HOME student question is different from the LIHTC student question. LIHTC needs to know if all occupants are full-time students and HOME needs to know if anyone is a student (part-time or full-time) at an institution of higher education.

Yes, the HOME student rule is required to be asked for all HOME activities such as Homeowner, Homeowner Rehab, and Rental. HOME funds are not intended for use in student housing.

Yes, this household would qualify as a HOME unit as long as all of the other HOME requirements are met. The presence of a dependent student in a household continues to be acceptable.

No, adjusting income is allowed ONLY for the Rental program and at recertification when the household is over the 80% income limit.

The HOME Program Maximum Per Unit Subsidy Limits include the HOME portion only.

No, a calculation is never necessary. HUD distributes the limits generally on an annual basis. This limit was formerly called the 203(b) or 95% limit. These limits are now called the HOME Homeownership Value Limits.

The Homeownership Value limit used will be the limits in effect at the time the written agreement is executed.

If the Awardee is a sub-recipient, the key date would be the date they signed the written agreement with the individual homeowner/homebuyer.

If the Awardee is a nonprofit developer, the key date would be the date the written agreement was signed with OHFA.

There are requirements that should be included in a lease such as information regarding annual income recertification, rent increases, and annual unit inspection

There is also prohibited language. Specific details regarding these requirements can be found in the Rental section of the HOME Implementation Manual, Chapter 26.