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

Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to 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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Keystone Government Loan Program for Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been running the Keystone Government Loan Program in which it intends to provide first mortgage financing on loans that are insured by the Federal Housing Administration, the Rural Development, and the Department of the Veterans' Affairs.

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First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North Carolina
One of the more popular programs is the FirstHome Mortgage Program for First Time Homebuyers which offer significantly low interest rates and a rather low fixed 30-year mortgage plan.

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