As part of the Puerto Rico Disaster Recovery Action Plan, the Puerto Rico Department of Housing (PRDOH), as grantee, has designated the Puerto Rico Housing Finance Authority (PRHFA) as the Subrecipient to administer the Homebuyer Assistance Program (the Program or HBA). The Program provides a budget of seven hundred sixty-three million dollars ($763,000,000) in CDBG-DR funds to assist with the gap between the amount of the first mortgage an Applicant can obtain from a Lending Institution and the purchase price of a home.
As part of the Puerto Rico Mitigation Action Plan, the Puerto Rico Department of Housing (Vivienda), acting as the recipient, has designated the Puerto Rico Housing Finance Authority (PRHFA) as the Subrecipient responsible for administering the Homebuyer Assistance Mitigation Program (HBA-MIT Program). The Program establishes a budget of one hundred million dollars ($100,000,000) in CDBG-MIT funds to help cover the gap between the amount of the first mortgage that the applicant can obtain from a Financial Institution and the purchase price of a property.