January 2019
Annual Application Workshop Held in Preparation for 2019 Competitive Application Cycle
AHFA multifamily staff and nearly 200 members of the development community gathered January 11 in Prattville for AHFA's 2019 Application Workshop.

During the workshop, AHFA staff discussed changes in the 2019 HOME/Housing Credit Plans, inluding application, underwriting, environmental, and compliance procedures, and new DMS online application features. 

This annual event helps developers prepare their applications for the HOME, Housing Credit, and/or National Housing Trust Fund programs. AHFA will accept applications for HOME and/or Housing Credit funding in February.

All application information is posted at http://bit.ly/2ktkyUa.
7 Reminders When Filling Out a 2019 Application in DMS
Developers: AHFA's Multifamily Division has compiled a list of 7 Reminders When Filling Out a 2019 Application in DMS. 

1. Remember your User ID and Password. 

2. Use the Multifamily Application Package Forms as a guide when completing the Online Application.

3. Keep a list of Development Team Members Organization Codes handy when completing the application.

Click here for the rest of the reminders: https://bit.ly/2MiqrP4
AHFA Announces New Home Possible Advantage Product for Step Up Borrowers
AHFA and Freddie Mac have teamed up to offer the Freddie Mac Home Possible Advantage conventional loan product to borrowers in Alabama. 

In addition to the down payment assistance mortgage currently offered through Step Up, t he Home Possible Advantage product provides eligible borrowers a grant to help with closing costs. Borrowers with qualifying income at or below 50% of the Area Median Income (AMI) limits (as published by Freddie Mac) are eligible for an Affordable Income Subsidy (AIS) grant in the amount of $2,500. Borrowers with qualifying income between 50.01% - 80.00% of AMI limits are eligible for a grant of $,1500.

As with Step Up, this assistance can be combined with a Mortgage Credit Certificate to make buying a home even more affordable. 

For qualifications and information on how to apply, visit  http://bit.ly/2SGZ83v .
Success Story: Jackson Apartments, Tuscaloosa
AHFA staff recently visited with two residents of Jackson Apartments in Tuscaloosa.

Atonya Wells had never lived in an apartment before becoming a resident at Jackson. She had rented a small house for 17 years that was quickly becoming cramped quarters for Wells and her five-year-old daughter. Watch her success story to hear how finding an apartment at Jackson has proved to be a better fit spatially and financially.

After a brief health issue, r etired housekeeper Mary Moore moved from Livingston to Tuscaloosa to be closer to her children and grandchildren. Now recovered, Moore is settled into life at Jackson. Watch Moore's success story to hear her enthusiastically share a few of her favorite features of the development. 
Resident Success Story: Atonya Wells
Resident Success Story: Mary Moore
Jackson, a two-phase development of the Tuscaloosa Housing Authority, was financed in part by Low-Income Housing Tax Credits administered by AHFA. 
Realtor Spotlight: Todd Conn, Sweet HOMElife Real Estate, Mt. Olive
Todd Conn has been in the real estate business since 2015 and has been a part of the team at Sweet HOMElife Real Estate since the day he received his real estate license. He was named the company's Rookie of the Year his first year in the business and has been one of its top producers in listings and closed business every year.
 
Q: How did you hear about AHFA programs?
A: Alana Beaugez with Progress Bank educated me about AHFA programs, and we also had a class about the programs at our office.
Conn celebrates a home loan closing with customers who used AHFA's Step Up program.
Q: What do you think is the biggest benefit of Step Up?
A: It gives buying power to my clients! Sometimes, without the Step Up program, I would have been unable to help people achieve their dream of homeownership. AHFA is meeting a true need with this product! I just love that we have Step Up. Everything comes together when everyone in the industry works together.
 
Q: What do you find most rewarding about your job?
A: Helping people realize how they can afford a home, a home that is hand chosen by me from the questions I ask about their lifestyle, needs, and especially the "wants" that they've always dreamed about. I love it when I can find them a home, often for less than they were spending in rent. I also love seeing the joy and happiness on the faces of my clients at the closing table. It's not always easy, nothing worthwhile ever is, but it's always worth it at the closing celebration!
 
Q: What do you think makes you stand out from other Realtors?
A: The way I treat people. This business is much more about people and relationships than anything else. I listen to understand. I have a servant's heart, and I just want to leave people in a better place than when I found them – in a better house! 
2019 Manager of the Year Nominations Due April 26
Give your top managers the recognition they deserve by nominating them for AHFA's annual Manager of the Year award. Site and property managers for any development financed with AHFA-administered HOME funds and/or Housing Credits are eligible.

Nominations are due by April 26. The 2019 winner will be announced at the Alabama Affordable Housing Association's annual conference.

Click here for a nomination package:  http://bit.ly/2ixrGOY.
AAHA Accepting Applications for 2019 Resident Scholarships
The Alabama Affordable Housing Association (AAHA) is accepting applications for its annual resident scholarship awards.

Applicants must be accepted or enrolled in an accredited vocational or technical school, college, or university; have at least a "B" average or 3.0 GPA; and meet all other application criteria.

Scholarship awards will be made to qualified tenants and resident family members living at an AAHA-member apartment complex and property/divisional management staff of AAHA-member companies and their children. Applications must be received by February 20.

For more information:  http://www.theaaha.org/scholarships/.
Prosperity Home Mortgage Joins AHFA as a Participating Lender

AHFA is pleased to welcome Prosperity Home Mortgage, LLC as a participating lender in the Step Up and Mortgage Credit Certificate programs. Prosperity Home Mortgage is conveniently located in Birmingham to serve potential home buyers. For more information, visit  https://www.phmloans.com/.
Education & Outreach in January
January 9: AHFA was on site at  FirstBank   Mortgage's Birmingham office educating their staff on the benefits of our homebuyer programs and how to utilize them.
January 14: Members of AHFA's multifamily staff enjoyed a quiet break between sessions at the 2019 HFA Institute hosted by the National Council of State Housing Agencies in Washington, D.C.
January 15: AHFA's homeownership financing options were a few of the topics covered at Mortgage Bankers Association of Alabama, Inc's Mortgage University, offered in conjunction with Genworth Mortgage Insurance.
AHFA Offices to Close for February Holiday

AHFA, ServiSolutions, and Hardest Hit Alabama will be closed Monday, February 18 in observance of the Presidents' Day holiday.
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website