Homeownership: Home Improvement and Rehabilitation
Recognizes an HFA for a new or enhanced program that best provides home improvement and rehabilitation financing to HFA targeted customers.
Judging Criteria
Entries in the Homeownership category will be judged on the degree to which they:
- Are innovative
- Are replicable
- Respond to an important state housing need
- Use data, research, and analysis to demonstrate measurable benefits to HFA targeted customers and underserved markets
- Have a proven track record of success in the marketplace
- Provide benefits that outweigh costs
- Demonstrate effective use of resources
- Effectively employ partnerships
- Achieve strategic objectives
If you have questions, please email awards@ncsha.org or call 202-624-7710.
2025 Winner
New Jersey Housing and Mortgage Finance Agency
2025 Entries
Illinois Housing Development Authority:
Addressing Illinois’ Aging Housing Crisis: The Imperative Role of the HAF Home Repair Program (HAFHR)
With a large proportion of homes aging beyond modern standards and increasing financial strain on homeowners in the wake of the pandemic, inflation, economy, etc., the Illinois Housing Development Authority (IHDA) launched the Homeowner Assistance Fund Home Repair Program (HAFHR) as a vital tool for community preservation and housing equity.
MassHousing:
Energy Saver Home Loan Program
Launched in June 2023 and incubated at MassHousing, the Massachusetts Community Climate Bank (MCCB) is the nation’s first green bank located within an HFA with a focus on affordable housing. The Energy Saver Home Loan Program is MCCB’s first consumer product. The $20 MM program works to lower barriers to clean energy adoption and assist property owners to cut their energy use and reduce or eliminate their reliance on fossil fuels by providing affordable financing and high-touch customer service.
New Jersey Housing and Mortgage Finance Agency:
Flipping the Fate of Foreclosures Through the Foreclosure Intervention Pilot Program
Throughout 2024, NJHMFA stood up the FIP, an innovative pilot program to partner with community-based nonprofits for the acquisition and rehabilitation of vacant and abandoned homes. The FIP provides up to $400,000 in financing per project to renovate the homes and sell them to first-time homebuyers. As of submission, six properties have completed the rehabilitation process and were sold to eligible homebuyers, while another nine properties are in the rehabilitation pipeline.
Wisconsin Housing and Economic Development Authority:
More Like Home™ WHEDA Repair & Renew Loan
The Wisconsin Housing and Economic Development Authority (WHEDA) plays a crucial role in providing affordable housing solutions for Wisconsin residents. Home renovations maintain and enhance property values, as well as improve living standards. WHEDA’s new home renovation loan helps homeowners of older properties make critical updates that help their homes feel “More Like Home™.”
