August 2022 Lender News from AHFA

Superbud Saves the Day & Shows the Way

to MAA Housing Counseling

Be sure to remind your Mortgage Assistance Alabama (MAA) clients about the importance and availability of free housing counseling. We’re sending this new video featuring Superbud to all current and future program participants to keep them on track.

Current Step Up Interest Rates

FHA /VA: 5.875%
CONV-Freddie Mac 80% AMI and Under: 6.125%
CONV-Freddie Mac Over 80% AMI: 6.375%

New Lender Joins Step Up Program

AHFA is pleased to welcome Ixonia Bank as a participating lender in the Step Up program. Ixonia operates as Novus Home Mortgage in Gulf Shores.

Down Payment Assistance Stretches Buyer Budgets in Changing Market Conditions

Don't forget to offer AHFA's down payment assistance option to your buyers to help leverage their own funds, reduce their out-of-pocket expenses, and boost negotiating power.

Step Up provides down payment assistance and a competitive 30-year, fixed interest rate for homebuyers who earn less than $130,600 and meet standards for creditworthiness. For even greater savings, Step Up can be combined with a Mortgage Credit Certificate, a tax credit that frees up income to qualify for a mortgage.

August 2: Realtor training with Exit Realty Lyon in Mobile

Outreach & Education Opportunities Offered

Are you a mortgage professional or Realtor who wants to know more about AHFA programs?

AHFA offers on-site training that covers borrower

and property eligibility, processing, documentation, income calculations and more.

Be on the Lookout for AHFA

at the LSCU Convention

AHFA will be exhibiting at the Southeast Leadership Conference hosted by the League of Southeastern Credit Unions & Affiliates August 31 to September 2. Come see us to share your success stories, get your questions answered, and find out how we can help you help homebuyers.

You Donut Want to Miss Out: Get Dunk'd!

AHFA staffers have been dropping by with doughnuts to express appreciation for lenders using our programs to make buying a home more affordable for Alabamians. Watch out, participating lenders! We could be coming your way next.

August 2: Caliber Home Loans in Mobile

August 4: Mortgage Banc in Birmingham

Alabama Housing Finance Authority | www.AHFA.com