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Pro Tool · 24 CFR §92.218

HOME 25% Match Calculator.

Track eligible match contributions against your HOME award. Identify shortfall, see how much extra match is needed, and compute net HOME at risk if requirements aren't met.

Interactive tool · HUD HOME match

Match Tracker

Enter total HOME funds received, then add eligible match sources. The tool sums match credits, compares to the 25% requirement, and shows shortfall or headroom.

Match is a PJ-level annual obligation, not a per-project figure. HOME match equals 25% of the HOME funds a participating jurisdiction (PJ) draws from its Trust Fund in a fiscal year (excluding administrative, CHDO operating, and capacity-building costs) — it is tracked at the PJ level across the whole fiscal year, not deal-by-deal (24 CFR §92.218(a); 42 U.S.C. §12750). Use this tool for project-level estimating, but reconcile the obligation against your PJ's total annual HOME drawdown.

HOME funds committed to project (excludes administrative funds)

Eligible match sources

Statutory basis: 42 U.S.C. §12750 (HOME match); 24 CFR §92.218–§92.220 (eligible forms of match and valuation). Match credits include the imputed value of donated materials, foregone interest, donated/discounted land, etc. — consult HUD's HOMEfires guidance for current valuation methodology. Bond-proceed loans: only 50% of multifamily / 25% of single-family loan amounts count as match (already applied to those rows above), and bond-proceed match may not exceed 25% of the PJ's total annual match obligation (24 CFR §92.220(a)(5)) — a PJ-level cap this project-level tool does not enforce, so verify it against your full fiscal-year match.

How HOME match works

HUD's HOME Investment Partnerships program requires participating jurisdictions (PJs) to contribute a 25% match of every HOME dollar invested in eligible activities (24 CFR §92.218). Match must be from non-federal sources.

Eligible match forms (§92.220):

  • Cash contributions from state/local government, private donations, etc.
  • Foregone fees, taxes, or charges that would normally apply
  • Donated land or real property (market value when contributed)
  • Foregone interest costs on below-market loans (PV of interest difference)
  • Donated materials, equipment, services, or volunteer labor
  • Donated professional services at customary rates
  • Investment in onsite/offsite infrastructure required for HOME project

HUD reduces or waives match for fiscal distress (declared by HUD) — see annual Federal Register notices.

FAQ

What if our PJ can't meet the 25% match?
HUD can reduce the match by 50% or 100% for PJs in "fiscal distress" or severe fiscal distress per 24 CFR §92.222. HUD publishes the annual list. Otherwise, unfunded match obligations carry forward and can lead to HUD audit findings and clawback of HOME funds.
Are federal funds eligible as match?
No — match must be non-federal. CDBG, LIHTC equity, and other federal sources don't count. State/local government funds, private donations, and PJ-foregone fees all count.
How is foregone interest valued?
PV of the difference between the actual interest rate and the applicable Treasury-based market rate over the loan term (per 24 CFR §92.220(a)(1)(iii)(B)). The benchmark is not the IRS Applicable Federal Rate (AFR); HUD specifies: 10-year Treasury + 200 bps (1–4 unit fixed), 1-year T-bill + 250 bps (1–4 unit adjustable), 10-year Treasury + 300 bps (multifamily), or 10-year Treasury + 400 bps (rehabilitation). For a 30-year, 0% loan of $500K with a market rate of 5%, the foregone interest match value is roughly $384K (PV of $25,000/yr annuity for 30 years at 5%). HUD CPD Notice 97-03 has the canonical methodology.