Montgomery Homeowner Wins #MyAlabamaHome Selfie Contest with 590 Votes

Royale Singleton of Montgomery recently won AHFA's #MyAlabamaHome Selfie Contest! 

On June 1, AHFA launched the  #MyAlabamaHome Selfie Contest to celebrate National Homeownership Month.  The contest was open to anyone who used an AHFA program to buy their home (or who closed on a home in June using an AHFA program).

Entrants simply needed to snap a selfie inside or outside their home and tell us what they love most about their Alabama home, post it to  AHFA's Facebook page during the month, and use the hashtag  #MyAlabamaHome

Twenty-two entries were received, and more than 2,100 votes were cast in the contest.

As the winner, Singleton received a $250 Visa gift card. She purchased her home with the help of lender Reginald Hawkins, formerly of IberiaBank Mortgage and now with Bancorp South, who also won a Yeti Rambler.

AHFA Accepts Comments on 2018 HOME/Housing Credit Allocation Plans

Following a July 10 public hearing in Montgomery, AHFA is accepting written public comments concerning the proposed 2018 HOME Investment Partnerships Program Action Plan and the Housing Credit Qualified Allocation Plan through August 9.  All written comments must be submitted using the AHFA 2018 Plan Comment form, available on the AHFA website. 

Lender Spotlight:
Gerwin Wallace | Silverton Mortgage, Anniston

Gerwin Wallace has placed in the Top 3 every year since 2012 for "Favorite Lender" in  The Anniston Star's Reader's Choice Poll. He has been in the mortgage business since 1996 and joined Silverton Mortgage in 2011.
Q: How did you hear about AHFA programs?
A: I was looking for a program that would help bridge the gap between 100 percent financing (which has strict income/geographical limitations for their product) and standard FHA financing, whose 3.5 percent down-payment requirement can be prohibitive for a lot of buyers in my market.
Q: What percentage of your monthly production utilizes AHFA programs? 
A: Currently about 25-30 percent of my monthly production is AHFA-related.
Q: What do you think is the greatest benefit of AHFA's Step Up program?
A: The ability to borrow the majority of the down-payment requirement via a 2nd mortgage. This down payment assistance is key to the success of the program. In addition, both 1st and 2nd mortgages have the same low fixed interest rate, which continues to be lower than standard pricing for other types of loans.
Q: What do you find most rewarding about your job? 
A: Honestly, the ability to help first-time homebuyers realize their dream of homeownership. A large percentage of buyers come into the process initially feeling intimidated and unsure of their ability to get qualified for financing. It's important for me to take as much of the worry and stress out of the equation and to make sure that the buyer has a clear path to homeownership with my guidance.
Q: Anything else you'd like to say?
A: There seems to be the belief that you have to have excellent credit to get approved for these types of loans. That is absolutely untrue. While a lot of lenders won't take the time to work with a client who can't get approved today, I feel it's imperative to find ways to help the buyer improve their credit score and turn them into approved buyers within a certain time-frame, whether it's 30 days or 12 months. Every client is as important as the next, and continuing to help get buyers approved. That's what I'm probably most proud of about my career.
Temporary Step Up+ Enhancement Provides Affordable Financing with PMI Assistance for Qualifying Borrowers

In June, AHFA announced a new, temporary AHFA-administered Step Up+ mortgage enhancement that will pay the upfront split private mortgage insurance premium (up to $1,500) for homebuyers who earn less than 80 percent of the area median income.  In turn, homebuyers will pay a lower monthly premium as part of their mortgage payment. Additionally, the interested party contribution has been increased from 3 percent to 4 percent for this program. 

Grand Opening & Ribbon Cutting
Hidden Pointe |  Daleville

On July 13, AHFA staff attended an open house and ribbon cutting for Hidden Pointe Apartments in Daleville. The newly renovated, 50-unit, family development was financed in part by $317,494 in Housing Credits, administered by AHFA.
ServiSolutions Customers Can Stay In the Know With Email Notifications

Want a tip to help you better manage your mortgage account? Sign up for Notifications, a free feature of your ServiSolutions online services. 

You can sign up to receive an email notification whenever one of the following transactions takes place: 
  • Payments Received
  • Payoffs Processed
  • Insurance Premiums Paid
  • Taxes Paid 
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#OurAlabamaHome Celebrates Aviation in Alabama with Visits to the Wiregrass and the Rocket City

This month, #OurAlabamaHome visited cities at opposite ends of the state, with stops in Daleville and Huntsville. 

Daleville is known as the Gateway to Fort Rucker. The town is south of the post, the U.S. Army's primary aviation training facility.

Huntsville is home to NASA's Marshall Space Flight Center, the U.S. Army Aviation and Missile Command, as well as the U.S. Space & Rocket Center, the world's largest s paceflight museum and a testament to Alabama's role in the advancement of space exploration .

#OurAlabamaHome is AHFA's theme for 2017. We regularly take road tr ips to visit with customers who have bought their home or found affordable rental housing because of AHFA programs.  As we travel to visit these customers, we're also highlighting the city or town they live in to celebrate Alabama and illustrate how AHFA's programs reach acr oss the  state. Together, our customers' testimonials bring #OurAlabamaHome  to life. 

Keep track of our travels on  AHFA's Facebook page and

Daleville Cultural & Convention Center

U.S. Space & Rocket Center, Huntsville
AHFA Offices to Close for Labor Day

The AHFA, ServiSolutions and Hardest Hit Alabama offices will be closed Monday, September 4 in observance of the Labor Day holiday.

We will reopen at 8 a.m. on Tuesday, September 5.
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website