First Step

Ang First Step ay isang grant para sa mga bibili ng bahay sa 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. Ang pondo ay mula sa Tax-exempt Mortgage Revenue Bonds issued by AHFA; loans serviced by ServiSolutions (an AHFA division).

Nagbibigay ang First Step ng tulong na katumbas ng 4% ng presyo ng pagbili, ayon sa itinakda ng programa. Ambag ng bibili ng bahay: No minimum borrower contribution stated by AHFA; loan-product overlays (FHA/VA/USDA/Freddie HFA Advantage) apply. Maaaring isama ang programa sa iba pang tulong, ayon sa mga patakaran ng bawat isa. Ang mga halaga ay ang pinakamataas na inilathala ng programa, hindi isang alok — ang ang ahensyang nangangasiwa ang nagpapasya sa anumang indibidwal na award.

Ang First Step ay isang grant, kaya hindi ito binabayaran. Kailangang bayaran kapag may 10-year amortizing second mortgage with monthly payments combined with the first mortgage at balance becomes due upon sale, refinance, or transfer of the property if not yet repaid. Nakatala ang tulong bilang lien sa posisyong 2nd Lien. Ang mga tuntunin sa pagpapatawad at pagbabayad ay itinatakda ng programa at maaaring magbago — kumpirmahin ang mga ito sa opisyal na pahina ng programa bago mag-apply.

Bukas ang First Step sa mga unang beses na bibili ng bahay at mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. May mga eksepsiyon dito ang "unang beses": 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. Tungkol sa credit, sinasabi ng programa: 640 minimum FICO for all loan products (FHA, VA, USDA, and HFA Advantage conventional). Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Approved homebuyer education provider required (online or in-person); list available through participating lenders and AHFA. Requirement sa paninirahan: Property must be in Alabama and occupied as primary residence within 60 days of closing. Citizenship o katayuan sa imigrasyon: 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.

Nililimitahan ng First Step ang kita ng sambahayan sa $120,960. Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Ang mga numero ng median na kita sa lugar ay inilalathala ng HUD at ina-update taun-taon, kaya tingnan ang kasalukuyang talahanayan para sa county bago umasa sa isang numero.

Nililimitahan ng First Step ang presyo ng pagbili sa $665,173. Kabilang sa mga kwalipikadong uri ng ari-arian ang 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. Kwalipikado ang bagong gawang bahay. Kwalipikado ang mga manufactured home.

Pinaglilingkuran ng First Step ang mga bibili ng bahay sa Statewide, Alabama. Tinutukoy ng programa ang mga partikular na lugar: 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.

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa First Step, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng Lender reserves rate/funds via AHFA's online lender portal (AllRegs/lender system) on a first-come, first-served basis. Ang Hey Prescott ay hindi nagpapautang at hindi tumatanggap ng aplikasyon; inilalarawan ng pahinang ito ang programa para madala ito ng bibili ng bahay sa isang lender o housing counselor.