Home Ownership and Mortgage Expansion (HOME) Program Quarterly Report [Q3 FY 2016]

The program is a collaborative effort between the World Council of Credit Unions (WOCCU) and the United States Agency for International Development (USAID). The program's primary objective is to increase access to housing and community services, as well as increase access to finance. The HOME program has developed a strategy to catalyze and incentivize the supply and demand sides of the housing value chain to create affordable housing. The program's key objectives include houses built or improved for target Haitian households, issuance of housing finance, including mortgages, to target groups of Haitian households, and leveraging private sector funds to support housing development. During the third quarter of fiscal year 2016, the HOME program launched two additional activities under the HOME Facility grant fund, which generated over $4.7 million in leveraged funds from the private sector through the issuance of over 975 housing loans. The program has agreements with two of the largest credit unions in Haiti and the second largest microfinance institution, as well as TECINA, Haiti's most experienced housing developer. Domestic resource mobilization remains a core principle of WOCCU's work, driven by testing the most effective ways to achieve the USG housing strategy in Haiti while minimizing USG resources and maximizing private sector ones. This approach has shown promising results, with partner financial institutions (PFIs) disbursing $697,522 for 110 housing loans in return for $30,799 of incentives. The HOME program has also seen a shift in the way that financial institutions and developers are thinking about affordable housing in Haiti, which is a critical step in building the foundation for fulfilling the objectives intended for the HOME program. Key accomplishments include bringing together stakeholders across the housing value chain, initiating pay for performance (P4P) grants with financial institutions, and testing interventions across the demand and supply side of the housing value chain. The HOME program has agreements with various stakeholders, including Habitat for Humanity International (HFHI) and the Affordable Housing Institute (AHI), to provide technical assistance and support to financial institutions and developers. The program's progress is being monitored through various indicators, including the number of housing loans issued, the amount of leveraged funds generated, and the number of households benefiting from the program. The HOME program's success is dependent on the continued collaboration and support of various stakeholders, including the Government of Haiti, financial institutions, and donors. The program's long-term goal is to provide affordable access to housing for 7,875 Haitians, with a focus on low-to-moderate income households.