Decatur Lender, Buyer Score Opening Day First Step Loan

Just nine weeks in, AHFA's First Step MRB program has already helped 313 homebuyers across the state afford their own homes and changed their lives for the better. For example, the very first loan under this new bond issue was made to Terrianna Cook of Morgan County. She and her mortgage loan officer, Deja White-Wade of FirstBank, secured a loan through the First Step program on the day it opened.

Raised in a single-parent household of six siblings, 22-year-old Terrianna is the first in her family to own a home. Thanks to the low interest rates made possible by AHFA, she looks forward to homeownership and building generational wealth.

As Terrianna's loan officer, Deja White-Wade became a pivotal figure in her search. Deja had attended a sneak preview of the First Step program hosted by AHFA, which gave her valuable insight into the program’s guidelines and the benefits of a bond loan for homebuyers.

“First Step was such a smooth and beneficial experience, especially for those who already utilize AHFA’s existing Step Up program," said Deja. "It’s the same process [as Step Up], just with a lower interest rate. Great job to AHFA for making homebuying more affordable!”

Deja determined that the First Step program would be an ideal fit for Terrianna, with below-market interest rates resulting in a much lower monthly

mortgage payment. AHFA's accompanying down payment assistance even allowed Terrianna to receive cash back at closing.

“Luckily Deja found out about the First Step program and quickly informed and helped me out,” said Terrianna. “When I think about how highly favored I was during this process I am just left speechless. I am very honored to be the first of many! I’m the first in my generation to become a homeowner because of the First Step program.”

AHFA Executive Director Robert Strickland said that First Step funds are being claimed quickly, just as expected: "Demand is high and the program has proven to be very popular, so we are working to keep funds available through the end of the year," he said. "We are grateful to Deja and Terrianna for sharing their story and we wish them both continued success."