Haiti Home Ownership & Mortgage Expansion (HOME)


Affordable Housing Finance

Haiti HOME Project Overview
 

Project Information:

The Haiti Home Ownership and Mortgage Expansion (HOME) Program, funded by the United States Agency for International Development (USAID), works on both the supply and demand side of the housing value chain in Haiti to create affordable housing. Through an incentive structure the program mobilizes the Haitian financial sector and property developers to lead the creation of a larger market for housing finance products and infrastructure. By the end of HOME, the program will facilitate the construction or improvement of 1,750 households and 7,875 Haitians will be occupying new or improved houses as a result of the HOME Program.

The program works with implementing partners, Habitat for Humanity International (HFHI) and the Affordable Housing Institute (AHI), and specifically, seeks to unlock liquidity in the Haitian banking sector, to mitigate risk for participating financial institutions (PFIs) and developers, and enable low, moderate and middle-income Haitian households to gain access to affordable housing. The HOME Program challenges and assists PFIs, developers, and low, moderate and middle-income households to identify, articulate and implement these solutions themselves—acting as a facilitator in the process—but does not create artificial interference in the housing market.    

This program is timely, given that the 2010 earthquake destroyed 180,000 homes adding to the existing housing shortage, creating a backlog of nearly 300,000 units. USAID in close collaboration with the Government of Haiti (GOH) identified a number of fundamental constraints in Haiti’s housing delivery system.  Against a backdrop of extreme poverty, the Haiti HOME Program helps address some of these constraints through the innovative uses of capital that have the additional benefit of addressing gaps, disruptions, weaknesses, or inefficiencies in Haiti’s delivery of either affordable homes or affordable housing financing. 

Read more: An Introduction to Pay-for-Results in Development

2017-Apr-13

Credit Union Magazine Article

CUs provide housing hope for Haitians
World Council of CUs works to address housing shortage.

A major earthquake in Haiti in 2010 killed more than 230,000 people, displaced nearly 1.5 million more, and destroyed more than 180,000 homes, exacerbating an already existing housing shortage.

Despite an influx of foreign aid, years after the earthquake inadequate housing options remain a challenge for Haitians. In 2015, with funding from the U.S. Agency for International Development (USAID), the World Council of Credit Unions started the Haiti Home Ownership and Mortgage Expansion (HOME) Program.

Read Full Article

Success Stories

TECINA Noailles housing development opens sale of homes to public

The development provides 75 units in Village Noailles, in the town of Croix-des-
Bouquets. LEARN MORE

Chabuma S.A. Builds Affordable Sustainable Homes

Chabuma’s first developments are being built on the outskirts of Port-au-Prince and include 37 units in Corlette and six in Santo.
LEARN MORE

Exceeding Expectations to Expand Housing Finance

SOCOLAVIM exceeded initial targets set by the HOME program by more than 20%
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HOME Finds its First Home at SOCOLAVIM

Haiti HOME will enable Joselande to build a home instead of continuing to pay rent
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Helping Haitian Families Access Better Housing

Haiti HOME partners with Habitat for Humanity and Affordable Housing Institute in providing affordable housing
LEARN MORE
 

529,209 credit union members in Haiti