Home Page 3 offers a top banner area that allows for a full-width single image or a multi-image slideshow using the Slideshow web part.
Below the main feature area, two web part columns allow for diverse content such as news, events or spotlight features. Home Page 3 offers a larger content area on the bottom left and a narrower web part column on the right.
Home Page Layouts are only to be used on the home page of a site, not on any interior pages.
Here is an example of Home Page 3 in edit mode:
Here's an example of Home Page 3 from the College of Liberal Arts and Social Sciences: