First Step

First Step é um subsídio para compradores de imóveis em Statewide, Alabama. First Step is AHFA's flagship Mortgage Revenue Bond program, providing a below-market 30-year fixed-rate first mortgage paired with up to $10,000 / 4% down payment assistance as a 10-year second mortgage. Available statewide for first-time buyers (or repeat buyers in IRS-designated target areas). Borrowers must meet HUD-set income limits and IRS-set sales price limits. Nearly 50,000 Alabama households have benefited from the program since 1980. First Step pairs a below-market 30-year fixed-rate first mortgage (FHA, VA, USDA, or Freddie Mac HFA Advantage conventional) funded with tax-exempt mortgage revenue bonds with a down payment assistance second mortgage of up to $10,000 or 4% of the sales price, whichever is lower. The DPA is structured as a 10-year amortizing second mortgage combined with the 30-year first mortgage. Loans are serviced by ServiSolutions (a division of AHFA) so homeowners write only one check per month. Borrowers using the HFA Advantage conventional product may also qualify for the Affordable Income Subsidy Grant for additional closing-cost assistance. Os recursos vêm de Tax-exempt Mortgage Revenue Bonds issued by AHFA; loans serviced by ServiSolutions (an AHFA division).

First Step oferece ajuda equivalente a 4% do preço de compra, conforme definido pelo programa. Contribuição do comprador de imóvel: No minimum borrower contribution stated by AHFA; loan-product overlays (FHA/VA/USDA/Freddie HFA Advantage) apply. O programa pode ser combinado com outras ajudas, sujeito às regras de cada uma. Os valores são os máximos publicados pelo programa, não uma oferta — o órgão que administra o programa define qualquer ajuda individual.

First Step é estruturado como um subsídio, então não é devolvido. O reembolso é acionado por 10-year amortizing second mortgage with monthly payments combined with the first mortgage e balance becomes due upon sale, refinance, or transfer of the property if not yet repaid. A ajuda é registrada como ônus em posição 2nd Lien. As condições de perdão e reembolso são definidas pelo programa e podem mudar — confirme-as na página oficial do programa antes de se inscrever.

First Step é aberto a compradores do primeiro imóvel e compradores de imóveis que vão morar no imóvel como residência principal. “Primeiro imóvel” tem exceções aqui: Repeat homebuyers are eligible if the property is in an IRS-designated target area; otherwise borrower must not have had an ownership interest in a principal residence in the previous 3 years. Sobre crédito, o programa afirma: 640 minimum FICO for all loan products (FHA, VA, USDA, and HFA Advantage conventional). É exigido um curso de educação para compradores de imóveis, por meio de Approved homebuyer education provider required (online or in-person); list available through participating lenders and AHFA. Requisito de residência: Property must be in Alabama and occupied as primary residence within 60 days of closing. Cidadania ou situação imigratória: U.S. citizen or qualified non-citizen per agency loan-product guidelines. First-time homebuyer required in non-target areas (no homeownership in the previous 3 years); first-time-homebuyer requirement is waived in IRS-designated target areas. Borrowers must occupy as primary residence within 60 days of closing. Property may not be used for business, commercial, or rental purposes. Federal recapture tax may apply to the bond-funded first mortgage if the home is sold within 9 years and the borrower's income has increased significantly. AHFA's First Step income limits are tied to HUD area median family income (AMFI) but are set by IRS bond rules at HUD AMFI for non-target Family 1-2 (e.g., All Other Counties = $86,400) and 115% of AMFI for non-target Family 3+ ($99,360); target-area limits are 120%/140% of AMFI. The 4-person figure of $120,960 (target, All Other Counties) is meaningfully higher than HUD 2025 4-person AMI for many rural Alabama counties (~$70K-$80K), reflecting the bond-program 120% adjustment.

First Step limita a renda familiar a $120,960. O limite vale para a renda total da família, não só a do mutuário. Os valores da renda mediana da região são publicados pelo HUD e atualizados todo ano, então confira a tabela atual do condado antes de se basear em um número.

First Step limita o preço de compra a $665,173. Os tipos de imóvel elegíveis incluem Single-family detached, townhomes, condos (must meet agency approval), 2-4 unit per IRS bond rules limited (typically 1-unit owner-occupied), manufactured housing per agency guidelines. Construções novas são elegíveis. Casas pré-fabricadas são elegíveis.

First Step atende compradores de imóveis que compram em Statewide, Alabama. O programa é voltado para áreas específicas: IRS-designated qualified census tracts and areas of chronic economic distress in Alabama. In target areas, first-time-homebuyer requirement is waived and higher income/sales price limits apply. Use AHFA's Target Area Status Map to verify a property's status: https://www.ahfa.com/programs/homeownership/available-programs/first-step-mortgage-revenue-bonds/targetnon-target-maps.

As inscrições para First Step são feitas por meio de o órgão que administra o programa, que publica as condições atuais e as etapas da inscrição no próprio site. Os recursos são reservados por meio de Lender reserves rate/funds via AHFA's online lender portal (AllRegs/lender system) on a first-come, first-served basis. A Hey Prescott não é uma credora e não aceita inscrições; esta página descreve o programa para que um comprador de imóvel possa levá-lo a um credor ou a um conselheiro habitacional.