Originally referred to only things that could possibly be taken in a homosexual context. It has now evolved to anything sexual.
Person #1: Man, can you believe that Dick Cheney did that?
Person #2: Hey say what you want, but I love Dick!
Person #1: PAUSE! You wanna try again?
Person #2: My bad homie...NO HOMO! No homo extreme.
Ex 2 (nonhomosexual reference)
Person #1: So what happened last night?
Person #2: Oh she came (no homo) and we were up all night.
Person #1: What! All night?
Person #2: Oh..it wasn't like that! No homo...we were just studying.
2. "i kinda want you to notice the gayness of something i've just said that would have otherwise gone completely unnoticed"
2. "just a second, i'm coming; no homo"
used after a phrase that sounds ambigously gay or 'homo', so that your friends won't call you a 'homo'
'yo homie, i just spent five hours talking with my man on the phone, no homo' - random dude