Lord Home was the son of Alexander Home, Master of Home and Agnes Hepburn, daughter of Adam Hepburn, Master of Hailes, father of Patrick Hepburn, 1st Lord Hailes. He succeeded his grandfather Alexander Home, 1st Lord Home as Lord Home in 1492. He was a leading participant at the Battle of Sauchieburn in 1488, in the successful attempt to depose James III with his son James IV in 1488. Following the battle, he was made privy councillor and Lord Chamberlain to the underage King. In June 1497, with the Earl of Angus, he opened talks for the surrender of Perkin Warbeck at 'Jenyn Haugh'.
Lord Home married twice. Firstly, he married Isabel Douglas (div. 1476), and had one daughter with her, Anna Home, who married Sir William Cockburn of Langton (d. 1513 at the Battle of Flodden). Secondly, he married Nichola Ker, daughter of Sir George Ker of Samuelston and Mariota Sinclair, with whom he had issue:
|Peerage of Scotland|
Alexander Home, 1st Lord Home
| Lord Home
Alexander Home, 3rd Lord Home