HOMEOWNERSHIP PROGRAMS
AHFA offers a variety of programs designed for Alabamians with modest incomes who want to buy their first home or repair their current home.
FIRST STEP
The cornerstone of our homeownership programs, this tax-exempt Mortgage Revenue Bond (MRB) program offers lower-than-market mortgage interest rates to first-time and lower-income home buyers. Details...
To further increase the MRB program's appeal, AHFA has added several options for participating home buyers who need extra help with a down payment, who live in rural areas without access to many mortgage lenders, or who have disabilities or family members with disabilities. Select any link below to learn more about these special offerings which complement the bond program. Down Payment Assistance
STEP UP
Premiering in the fall of 2000, the Step Up program is Alabama's first down payment assistance program designed specifically for moderate-income home buyers: those whose incomes can sustain a market-rate mortgage but whose savings fall short of the amount needed for entry costs like a down payment, closing costs and prepaid items. Details...
MORTGAGE CREDIT CERTIFICATES
AHFA's Mortgage Credit Certificate program provides low- to moderate-income home buyers with the opportunity to buy a home by keeping more money in their pockets each month. MCCs reduce home buyers' federal tax liability, increasing the amount of disposable income available to purchase a home. Details...
AMERICAN DREAM DOWNPAYMENT INITIATIVE
AHFA offers $10,000 in interest-free mortgage funds to reduce out-of-pocket expenses for first-time home buyers with lower incomes. Details... | 
