The purpose of this rule chapter is to establish the Homeownership Pool (“HOP”) Program procedures by which the Corporation shall administer the Application process, determine loan amounts, service loans, and provide down payment assistance to Eligible Homebuyers for the purchase of new construction Units or substantially rehabilitated under the Homeownership Assistance Program (HAP) as authorized by Section 420.5088, F.S., and the HOME Investment Partnerships Program (HOME) as authorized by Section 420.5089, F.S., and HUD regulations, 24 CFR § 92, which is adopted and incorporated into this rule chapter by reference and which is available on our website at http://www.floridahousing.org/Home/Developers/HomeownershipPrograms/HOP.