November 4, 2022

FHLMC HFA Advantage Program

 

Effective immediately, AHFA is making the following changes to our Step Up Conventional Program (FHLMC HFA Advantage):


  • Minimum FICO of 640 for the 80% or below AMI Program and the >80% AMI Program 
  • Borrowers regardless of income AMI bracket will be offered the same rate for the Step Up Conventional program 


The mortgage insurance requirements for the Step Up FHLMC HFA Advantage program remain in place:

Area Median Income (AMI)

Loan To Value

Ratio

Mortgage Insurance Coverage

Less than or equal to 80%

Greater than 95%

18%

Greater than 80%

Greater than 95%

35%

Alabama Housing Finance Authority | www.AHFA.com

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