Down Payment Assistance in Alabama

Step Up is a homeownership program designed specifically for moderate-income home buyers who can afford a mortgage, but need help with the down payment.  Alabama Housing Finance Authority (AHFA) offers down payment assistance with no sales price limits and higher income limits than the First Step program.

The down payment funds are secured by a 10-year second mortgage and are combined with a 30-year, fixed-rate first mortgage. Since the loans are serviced by AHFA, homeowners have only one check to write each month. Program participants must complete a homebuyer education course to qualify.

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Related posts:

1. Down Payment Assistance in Alabama
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3. First Time Homebuyer Assistance
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5. Low Income Home Loans Available

Tags: Alabama, down payment

This entry was posted on Sunday, October 25th, 2009 at 1:01 am and is filed under Home Grants. If you are looking for similar grants in this state, click the category name here. That will give you a list of grant announcements in that category in the state.