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Homebuyers

Am I Eligible?

To Be Eligible For a Step Up Mortgage

  • You must buy a new or existing home. Refinancing an existing mortgage does not qualify.
  • You must buy a home in Alabama and occupy it, as your primary residence, within 60 days of closing
  • Your annual household income cannot exceed $97,300
  • You must apply for an FHA or conventional loan through a participating lender
  • Your credit score must be 620 or higher
  • You must complete a homeownership education course
Learn more...
 

To Be Eligible For a Mortgage Credit Certificate

  • You must be a first-time homebuyer (or have not owned a home in the last three years)
    • If the home you are purchasing is located in a "target" area, other conditions may apply. Contact your lender for more information.
  • You must buy a new or existing home. Refinancing an existing mortgage does not qualify.
  • You must buy a home in Alabama and occupy it, as your primary residence, within 60 days of closing
  • You must meet federally established income and sales price limits
  • You must apply for an amortizing loan through a participating lender
  • AHFA reviews and approves requests for an MCC prior to the closing of the loan
Learn more...