Home buyers program budget gets another $200 million infusion
By The Star Staff
Housing Secretary William Rodríguez Rodríguez and Housing Finance Authority (AFV by its Spanish initials) Executive Director Blanca Fernández announced a second $200 million increase in the budget for the Direct Home Buyer Assistance (HBA) Program, which is funded with Community Development Block Grant Disaster Recovery (CDBG-DR) funds.
To date, more than 8,200 families in Puerto Rico have benefited from the program, which has already disbursed more than $300 million in support to people who aspire to purchase a home in Puerto Rico, providing incentives of up to $60,000 to cover expenses related to a mortgage.
“We are proud to announce that, under this administration of Gov. Pierluisi, the program has fulfilled the dream of thousands of families in Puerto Rico with an investment of more than $300 million in recovery funds,” Rodríguez said. “In light of this evident success, we added more resources so that more people can benefit. We will continue to work tirelessly to facilitate access to decent housing for all in Puerto Rico, thus fulfilling the purpose of the recovery funds.”
Some of the requirements to participate in the HBA program include being a U.S. citizen, meeting income criteria set by the U.S. Department of Housing and Urban Development, completing a housing counseling workshop, not owning another home, and being approved for a mortgage loan.
More information about the Direct Home Buyer Assistance Program can be found by accessing the www.compratucasa.pr.gov website or calling 939-333-5417, 1-833-234-2324, or TTY at 787-522-5950.