AHFA has updated the maximum family income limits used for the Mortgage Credit Certificate program, effective September 1. The newly revised income limits were released by the U.S. Department of Housing and Urban Development and are based upon the state's median income, which is $55,500. Home buyers can earn up to $83,250 in urban areas and $77,700 in rural areas, depending on family size and location.
More new homes were sold nationally in July than in nearly a decade. Signs are pointing to a healthier housing market. Thank millennials and thank homebuilders who are starting to produce more of the starter houses young people demand.
Julia McCreight of AuburnBank and winner of the 2016 #LendersTakeASelfie contest is the subject of our summer Lender Spotlight.
More than 1,900 votes were cast in our #LendersTakeASelfie contest, and the winner is Julia McCreight of Auburn Bank, and her customers, Jason and Kaitlin Smith of Opelika!
AHFA has revised the sales prices limits for borrowers using a Mortgage Credit Certificate. The maximum home purchase price for a loan with a MCC is $255,573 (borrowers in a target area can buy a home costing as much as $312,361).