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Homebuyers

AHFA Makes Homeownership Possible

Do you dream of owning a home? Think you cannot afford it? Since 1980, AHFA's versatile, affordable programs have helped more than 70,000 families purchase a home.

We offer options that fit the needs of many buyers. 

Step Up

The Step Up program is available to homebuyers who earn less than $97,300 and meet standards for creditworthiness. The program offers a competitive 30-year fixed interest rate and a down payment assistance option.

Step Up+ (NEW!)

In June, AHFA announced a new, temporary AHFA-administered Step Up+ mortgage enhancement that will pay the upfront split private mortgage insurance premium (up to $1,500) for homebuyers who earn less than 80 percent of the area median income. In turn, homebuyers will pay a lower monthly premium as part of their mortgage payment. 

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Mortgage Credit Certificates

A Mortgage Credit Certificate (MCC) reduces the amount of federal income tax homebuyers must pay, which in turn frees up income to qualify for a mortgage. Borrowers can claim a tax credit up to 50 percent of the mortgage interest paid per yer, capped at $2,000 annually. It is a dollar-for-dollar reduction against a borrower's federal tax liability. To receive immediate savings from the MCC, the borrower must file a revised W-4 withholding form with their employer, which should reduce the yearly tax contribution and increase the borrower's take-home pay. Borrowers can also choose to realize the savings once a year through the federal income tax return to be filed.

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