Upcoming Webinars re. Updates to Step Up Program
AHFA will host two webinars on the recently announced updates to the Step Up program.

To register for the webinar on Friday, December 4 at 9 a.m.:
2. Click "Register"
3. On the registration form, enter your information, and then click "Submit"

To register for the webinar on Tuesday, December 8 at 10 a.m.:
2. Click "Register"
3. On the registration form, enter your information, and then click "Submit"

Once your registration is complete, you will receive a confirmation email message with instructions on how to join the event.

If you have questions, please contact Cathy James at cjames@ahfa.com.
ICYMI: Updates to the Step Up Program
Effective with new loan reservations starting December 2, the following changes were made to our Step Up program:
 
Compensation
FHA Loans
  • The SRP/YSP paid at loan purchase for the FHA Step UP program will increase from 1.30% to 2.50%
  • Lenders cannot charge an origination fee or discount points
  • Customary and reasonable discretionary fees are allowed
  • The maximum income to the lender inclusive of the SRP/YSP and reasonable discretionary fees may not exceed 3.50% of the first mortgage amount

FHMC HFA Advantage Loans
  • The SRP/YSP paid at loan purchase for the FHLMC HFA Advantage Step UP program will increase from 1.05% to 2.25%
  • Lenders cannot charge an origination fee or discount points
  • Customary and reasonable discretionary fees are allowed
  • The maximum income to the lender inclusive of the SRP/YSP and reasonable discretionary fees may not exceed 3.50% of the first mortgage amount
 
Qualifying Income Increase
  • Maximum Qualifying Annual Income for homeowners on the FHA Step Up mortgage loan will increase from $97,300 to $130,600.