Alabama Housing Finance Authority
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For over 30 years of providing service and financial assistance to the people of Alabama and has already helped approximately 122,000 families in the process of finding homes they could afford.

Among all the first time homebuyer loan programs and rental programs of the AHFA are the following:

a) First Step Program - This program is the one of the most popular programs of the AHFA as it offers a 30-year, lower-than-market fixed interest rate to first-time and low- to moderate-income home buyers in the state of Alabama. The funds that are provided under this program are taken from the sale of tax-exempt mortgage revenue bonds to investors by AHFA.

b) Step Up Program - This program is a homeownership program that is designed specifically for moderate-income home buyers who can afford a mortgage, but need help covering the down payment and closing costs. This program is very much similar to the First Step Program as it also offers a 30-year, fixed-rate first mortgage.

c) Mortgage Credit Certificate (MCC) Program - This homeownership program can be used in conjunction with the Step Up Program and has the capacity to provide a direct dollar-for-dollar reduction in federal taxes worth 20 percent of the mortgage interest paid by the borrower each year. The remaining 80 percent of the interest will then be claimed as a tax deduction.

Alabama Housing Finance Authority
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Maine
The first time homebuyer programs of MaineHousing are all especially designed to contribute to the achievement of its primary agency mission which is to "assist Maine people to obtain and maintain decent, safe, affordable housing and services suitable to their unique housing needs."

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Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

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Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

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