August 2020
ICMYI: Step Up Program Now Providing 3.5% Down Payment on FHA Loans
Effective immediately, AHFA is increasing the amount of down payment assistance provided on Step Up FHA loans from 3% to 3.5%. This increase will cover 100% of the down payment needed on FHA loans (not to exceed $7,500).

In these uncertain times, we know that homebuyers want to hold onto as much of their money as possible.

An example of how this increase in assistance would assist a homebuyer is based on the average purchase price of existing homes we helped finance last fiscal year ($140,000).

Our prior 3% assistance would have been $4,200. Now, our 3.5% down payment assistance would translate to $4,900 - providing an extra $700 to a homebuyer. That money could be used towards a new appliance, lawnmower, home improvement project, or just to pad their savings account more.

We hope you’ll help homebuyers take advantage of this increase in assistance! If you have questions about this information or the Step Up program in general, please contact Tony Lee at
Customer Success Story Also Features Tyler Wilson with LoanDepot & Examines Buying A Home During the Pandemic
This customer Success Story is a little different than the rest. It is the first since the COVID-19 pandemic hit the country.

Our own Tony Lee talked with Tyler Wilson at LoanDepot in Huntsville about how the pandemic is affecting the home buying process and about helping Holly & Brandon Sanders purchase a home during this time with the help of the Step Up down payment assistance program.

Holly & Brandon are also quoted in the video about how the Step Up program helped them, and what they’re enjoying about their new home. 
New Webinar Resources
We have recorded two webinars we recently hosted. The "AHFA Preferred Rural Homebuyer Program" and "Doing Business with ServiSolutions, a COVID-19 Update" webinars can be found on the Training Resources page of our website at
Alabama Housing Finance Authority |