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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 the program income limit and meet standards for creditworthiness. The program offers a competitive 30-year fixed interest rate and a down payment assistance option.

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Affordable Income Subsidy Grant

In addition to the down payment assistance currently offered through Step Up, the HFA Advantage product provides eligible borrowers a grant to help with closing costs. Borrower(s) qualifying income converted to an annual basis cannot exceed 80% of the Area Median Income (AMI) for property’s location or, $97,300 annual income (whichever is less).

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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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