August 2023 Lender News from AHFA

MBAAL Event to Feature AHFA, Freddie Mac, HFH Speakers

AHFA will show lenders and realtors how to qualify their customers for larger homes, expand their markets, increase customer satisfaction by saving their clients money, and serve younger and first-time home buyers at a one-day event hosted in Montgomery by the Mortgage Bankers Association of Alabama.

"This is an opportunity that lenders and realtors can't afford to miss," said Carrie Hamaker, AHFA's single-family administrator. "We'll be highlighting ways to grow your customer base and its loyalty by combining programs and maximizing the assistance available. These challenging economic times require us all to get a little more creative and work a little harder to get Alabamians into homes."

Speakers at the September 19 event include Hamaker, Jim Hall of Freddie Mac, and Ellen Potts of Tuscaloosa Habitat for Humanity. The $15 registration fee ($25 for non-MBAAL members) includes all conference materials, lunch, and door prize drawings.

Attendees should consider it an investment in the future, said Hamaker.

"As a lender or realtor, you want to have every possible option available in your toolbox to serve potential home buyers," she said. "You need to know what's out there to avoid losing a potential customer when issues arise. Dedicating just a few hours to educating yourself can make the difference between letting the deal fall through or saving the day."

Find out more and register: MBAA September Education Session and Luncheon: Making Homeownership Affordable with AHFA and Freddie Mac | Alabama Housing Finance Authority

Lights, Camera, Action!

Interviews with AHFA's Art Contest Winners

If you haven't yet seen your daily dose of cuteness, then check out our interviews with the four winners of AHFA's 2023 Kids' Art Contest. Their introductions and artwork analysis are sure to make you smile. And if you know youngsters who could benefit from the basics of financial literacy, be sure to sign them up for our AHFA Kids mailing list HERE.

Extend Your Reach!

Redesigned Partner Flyers Now Available in Spanish

¡Hola a todos! ¡Aquí hay ayuda! AHFA's popular partner flyers, which summarize the Step Up, Affordable Income Subsidy Grant, and MCC programs, have recently been translated into Spanish. These customizable flyers inform Alabama homebuyers about each AHFA program and have space reserved so that our lending and real estate partners can input their own contact information prior to printing.

They are available for download in Lender Online, or you can contact AHFA's Communications Department at communications@ahfa.com to request your free digital files. Order yours today!

Leading Lenders Share Top Tips for Buyers with Children

Guild Mortgage is our Top Participating Lending Company for the second quarter of FY23, closing the most home loans using our homeownership financing options. We asked Guild lenders to share their advice for homebuyers with children during the back-to-school buying season.

"My advice would be, 'Don’t give up.' Summer is so competitive for homebuyers. It may not be the very first home that you win the offer. But every 'no' will lead you closer to your destination of 'yes,' with the right home, in the right school system, that fits your family's needs."

Harris Baker, Montgomery

"Moving can be hard for adults, but it can be even harder on children if they feel that they have not been a part of making this huge life-changing decision. Children are known to thrive on family routine. It gives them a sense of stability, safety, and comfort. When that balance is disturbed, it can be traumatic. Depending on the reason for the move, truly weigh your child’s interest and life into the decision, and postpone moves that are closely scheduled to a major life change such as a death, divorce, etc. Ultimately, life happens, and you have to make decisions for your family in their best interest even if they do not perceive it as such at first."

Illiana Byrd, Prattville

"If you are looking to move into a home before school starts, it is important to speak with a mortgage lender as your first step. Don’t assume that you need to wait and save money, or work on your credit, or find a home first. A trusted mortgage advisor will help you determine the quickest and most economical way to get you and your family into your new home. If you are open and honest with your mortgage lender, and you are prompt with providing the documents they request, you will find the mortgage process will be smooth and stress-free."

Aaron Folta, Auburn

"Summertime is a fun time, and it is a hot time in Alabama in temperature and to purchase a home before school begins. If possible, when shopping for your new home, include your children in the home-buying process. Take them to visit potential houses and neighborhoods so they can provide input. This can make the transition smoother for them and help them feel more excited about the move. Remember that the home-buying process can be emotional and complex, but with careful planning and the right support, you can find the perfect home for your family’s needs."

Jeannie Kelley, Cullman

"It is extremely important to get pre-approved upfront before searching for homes. Therefore, you can be prepared to make an offer on a home quickly and be sure you are shopping for homes within your budget."

Nikki Money, Columbus

Let's Connect! August Training and Check-Ins

Are you a mortgage professional or Realtor and want to know more about AHFA programs? AHFA offers on-site training on our programs that covers borrower and property eligibility, processing, documentation, income calculations and more.