January 2025

Second Time Around:

Loan Officer ‘Couldn't Have Been Happier’ with First Step

After taking a break for nearly a decade, Loan Officer Archie Weaver of Bryant Bank recently closed a First Step loan through AHFA.

“This was the first one I’d done in nine years, and the process has definitely changed a lot for the better,” said Weaver, an Alabama native and 24-year veteran of the mortgage industry. "We couldn't have been happier this time around!”

Weaver described his customer as “a good borrower” on a fixed income who worked for the University of Alabama until her retirement.

“AHFA’s programs made sense for her,” he explained. “We knew that 100% financing would be an option and the rate would be competitive. Plus, it turned out that my client qualified for a small Affordable Income Subsidy Grant (AISG) which helped her even more.”

When combined with First Step’s lower-than-market interest rates and down payment assistance loans, the AISG program provides eligible borrowers an additional grant to help with closing costs. Mortgagors can receive 0.5% to 1% of the loan amount, depending upon their income.

“This is absolutely a product

that we need to be selling,

because we have

a lot of opportunity here,

in every market,

that’s not tapped into.”

Archie Weaver, Bryant Bank

“We made many mistakes, but everybody at AHFA held our hand and got us in order,” said Weaver. “We were getting tight on the schedule for closing, then we got cleared to close very quickly. Start to finish was maybe three days."

Weaver emphasized the importance of using every tool in the toolbox to help homebuyers in this market.

“We have loan officer calls every Monday and I tell everybody, ‘Y’all need to use AHFA programs,’” he said. “This is absolutely a product that we need to be selling, because we have a lot of opportunity here, in every market, that’s not tapped into. For us to be successful, we have to access every product available to expand our portfolio.”

The second time around was a game-changer for Weaver and his Tuscaloosa homebuyer.

“I wanted to make sure AHFA got the credit it deserved,” he said. “It doesn't always happen that way in this business. It was a really great experience.”

See current First Step interest rates, income limits, and other program details, including the Affordable Income Subsidy Grant option, at www.ahfa.com.

Top 1Q Lenders Awarded for Using AHFA Programs

Each quarter, AHFA applauds the individual lenders and the lending company who closed the most loans using the First Step and Step Up programs. Winners for the first quarter of 2025 are listed below. We'll be highlighting them individually on social media in the months to come.

Individual Leading Lenders

The leading lenders who closed the most loans using AHFA programs for 1Q25 are listed below in alphabetical order.

Harris Baker, Guild Mortgage

Lisa Newton, Lendlo Mortgage

Stephen Segovia, Lendlo Mortgage

Top Participating Lender Company

Our top participating lender company for 1Q25 is Guild Mortgage. We asked Guild lenders how the First Step and Step Up programs benefit their customers. Stay tuned for their responses on social media.

Congratulations to all of our winners! We appreciate them for using AHFA programs to help homebuyers.

Realtors and Lenders, Let’s Connect! We Want to Meet You!

Are you a mortgage or real estate professional who wants 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. Our “Doing Business with AHFA” class qualifies for 3 CEUs, certified by the Alabama Real Estate Commission. To schedule an informational visit or training session, simply email Alana Beaugez .

Movement Mortgage, Hoover

Habitat for Humanity, Mobile

Davidson Home Mortgage, Huntsville

Assurance Financial, Hoover

Victorian Finance, Huntsville

SWBC Mortgage, Mobile

Supreme Lending, Trussville

SouthState Bank, Hoover

Rate, Hoover

Prosperity Home Mortgage, Birmingham

Prosperity Home Mortgage, Mountain Brook

United Community Bank, Birmingham

Canopy Mortgage, Birmingham

Renasant Bank, Huntsville

Silverton Mortgage, Huntsville

Trustmark Bank, Huntsville

We appreciate our homeownership experts’ contributions toward a successful 2024. We look forward to seeing you all in 2025!

Habitat for Humanity Partnership Explained

Supporting Alabama’s local Habitat for Humanity affiliates is one way that AHFA helps families achieve their dreams of homeownership.

In our latest video linked below, Savannah Stephens, program specialist at Habitat for Humanity of Baldwin County, shares how her affiliate was formed, the impactful work they’re doing to provide affordable housing, and the life-changing experience of being involved in the building process.

Stephens also highlights the role that AHFA plays in making her work possible. Since 1992, we have dedicated nearly $32 million toward 592 loans to enable Baldwin County and other affiliates to recoup their costs and keep building safe, affordable homes for our state’s citizens in need.

Upcoming Education Luncheon:

Unlocking the Door

to Homeownership

AHFA and the Mortgage Bankers Association of Alabama invite you to an education luncheon on Tuesday, January 21.

Register now for an informative session, where you will dive into the latest industry trends and connect with professionals who are dedicated to helping their clients achieve homeownership. Our guest speakers, Realtor Kimberly Benefield and insurance agent Todd Conn, will discuss new buyer’s agent commission rules and homeowners’ insurance policy changes.

This special event is $40 for members and $50 for non-members. Space is limited and lunch is included. Join us from 10 a.m. to 1 p.m. at Faulkner University’s Hoover campus to become a homeownership expert in 2025.

MLK/Lee Holiday Closing

The AHFA and ServiSolutions offices will be closed Monday, January 20 for the federal and state holiday. We will reopen at 8 a.m. on Tuesday, January 21.