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Interest Rates

The Alabama Housing Finance Authority helps make homeownership affordable for eligible homebuyers with competitive financing and down payment assistance through its First Step and Step Up programs. Below are the current First Step and Step Up interest rates. 

To learn more about our First Step or Step Up programs, as well as our other homeownership programs, visit the Homebuyers section of our website. 

Notice: Rates are subject to change without notification

First Step 

FHA / VA / USDA: 5.5%

CONV-Freddie Mac: 6.0%

Step Up 

FHA / VA / USDA: 7.000%

CONV-Freddie Mac: 7.500%