More Homebuyers Now Qualify for AHFA Programs

Alabama lenders and Realtors can help more families achieve homeownership through AHFA’s First Step Mortgage Revenue Bond program, thanks to updated income and sales price limits that became effective June 24.

Based on figures released by the U.S. Department of Housing and Urban Development, the revised income limits reflect changes in area median incomes across the state. Depending on household size and location, qualifying families may now earn up to $161,140 annually and still be eligible for assistance through AHFA’s programs.

Sales price limits also increased this year. Homebuyers purchasing in target areas may now qualify on homes priced up to $692,211, while the limit for non-target areas has risen to $566,355. See whether a property is located in a target or non-target area by visiting Target Map | AHFA.

“These updates keep our programs accessible for homebuyers across Alabama, despite changing housing markets and economic conditions,” said AHFA Single-Family Administrator Carrie Hamaker. “By expanding eligibility, we can help more families take advantage of AHFA’s affordable financing options.”