December 2020
More Alabamians To Qualify For AHFA’s Step Up Program
On December 2, AHFA raised the amount of a homebuyer’s maximum qualifying annual income to $130,600 for its flagship Step Up down payment assistance program. This change will increase the number of Alabama families eligible for the program and was made in response to changed economic and market environments. It is in keeping with the program’s original affordability design.

In addition, the 1% origination fee was eliminated, which significantly reduces the out-of-pocket costs for potential homebuyers to utilize the Step Up program.

AHFA looks forward to providing more Alabamians with access to an affordable homebuyer program and the ability to become successful long-term homeowners.
Updates for Multifamily Competitive Application Cycle
National Housing Trust Fund
Due to recent increases in COVID-19 cases, the public hearing concerning the proposed 2021 National Housing Trust Fund Allocation Plan scheduled for December 9 in Montgomery has been cancelled.

Details for a virtual meeting are forthcoming. This meeting will involve presenting changes to the plan and detailing the process for submitting public comments regarding the distribution of National Housing Trust Funds in exchange for the new construction of extremely low- and low-income projects and the monitoring of National Housing Trust Funds for those projects.

For information about the 2021 Housing Trust Fund Plan, visit
HOME Investment Partnerships Program/Housing Credits
The COVID-19 Amendment to the 2020 HOME Action Plan and the final 2021 HOME Action Plan are pending approval by the U.S. Department of Housing & Urban Development.

The final 2021 Housing Credit Allocation Plan was approved in December by Alabama Governor Kay Ivey.

Realtor Spotlight: Ben Nemec, Keller Williams, Huntsville
Ben Nemec was introduced to real estate by his mother-in-law when she invited him to join her in the business. “She taught me everything I know now, and I am so grateful to her for taking a chance and introducing this to me.” Ben has spent his entire career at Keller Williams and recently celebrated seven years there. He was named “Rookie of the Year” and has received various levels of production awards. His team is currently 2nd in sales volume in their office of more than 250 agents.

Q: How did you hear about AHFA programs?
A: The Adam Hammond Team at FirstBank introduced me to AHFA programs and the benefits available to homebuyers.

Q: What do you think is the greatest benefit of Step Up for homebuyers?
A: Aside from the down payment assistance, which is great, I feel the education piece attached to the program is crucial to help young/first-time homebuyers get information they need to help make wise financing choices for the rest of their life.

Q: Why do you recommend the Step Up program to buyers?
A: Often, a first-time homebuyer has the ability and willingness to manage homeownership but can greatly benefit from a little extra help with cash out-of-pocket. Especially in this extremely low-inventory seller's market, a buyer needs every bit of help they can get to stay competitive.

Q: What is the best advice you can give to first-time homebuyers?
Partner with a knowledgeable lender and real estate professional that will give you clear, concise, and honest advice as you make one of the largest investments of your life.

Q: What do you find most rewarding about your job?
A: The task of buying or selling a home is daunting to most consumers, especially those who have never done it before. I have been through the process so many times that often I find I can simplify it for them to a more manageable, less intimidating process. The end result is almost always great.
AHFA Offices to Close for January Holiday
AHFA, ServiSolutions, and Hardest Hit Alabama will be closed Monday, January 18 in observance of the King/Lee holiday. We will reopen at 8 a.m. on Tuesday, January 19.
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website