February 2023 Lender News from AHFA

Guild Mortgage Lenders Share Their New Year's Intentions

Guild Mortgage is our Top Participating Lending Company for the first quarter of FY23, closing the most home loans using our homeownership financing options. We asked Guild lenders about their goals for the new year.

"My biggest goal/resolution is to be able to assist at least 75 new homebuyers in central Alabama. We can do this through education, follow-up, and guidance."

Illiana Byrd, Prattville

"As loan officers, every year we want to get more and more families into new homes. We are always striving to do better than the previous year, not only for ourselves, but for these other families that we help. My goal for this year is to continue committing daily to these relationships and to always keep refining and improving my skills so that I am ready to help the next family. AHFA’s programs have played a great role in helping home buyers with no down payment. I was honored to be Processor of the Year for AHFA in 2008 and I am thankful to still be able to take part in their programs as a loan officer. I am extremely grateful that our company gets to be a partner with AHFA and build these relationships together."

Miranda Kelley, Gadsden/Oxford

"The goal for our team in 2023 is closely tied to the mission of impacting and improving the lives of others through responsible homeownership. 2023 is a year for providing more education for our borrowers and insuring they are well equipped to make the best decision for their family. This involves showing them all the options that are open to them and how they can leverage this one transaction to have a major impact on their future and improve their quality of life. "

Chase Rogers, Mountain Brook

Step Up DPA Gives Your Homebuyers Freedom to Choose

New furniture, upgrades, and renovations? Or utility deposits, packing supplies, and moving truck rental? The costs quickly add up for any move. But with up to $10,000 in down payment assistance, AHFA’s Step Up program gives your customers flexibility in spending for all the expenses – expected or unexpected – that they will incur.

Step Up is a homeownership program designed specifically for moderate-income home buyers who can afford a mortgage but need help with the down payment. Along with the up-front funds, Step Up provides a competitive 30-year, fixed interest rate for homebuyers who earn less than $130,600 and meet standards for creditworthiness. The down payment funds are secured by a 10-year second mortgage. Since the loans are serviced by ServiSolutions, a division of AHFA, homeowners have only one check to write each month. Program participants must also complete a homebuyer education course to qualify, which is typically an online course offered by their lender.

For more information about the Step Up program, including additional savings options, eligibility requirements, and a current list of participating lenders, visit www.AHFA.com.

Knock! Knock! AHFA Calling!

Are you plugged in to what AHFA is doing? Did you know that our Step Up down payment assistance program, Affordable Income Subsidy Grants, and Mortgage Credit Certificates help make homebuying more affordable and help more people qualify to buy a home?

We want to hear from lenders and Realtors across Alabama. We'd love to discuss your markets and find out what you see in your day-to-day operations that is affecting affordability for your hopeful home buyers.

AHFA also offers on-site training for your staff which covers borrower and property eligibility, processing, documentation, income calculations and more.

To schedule an informational visit or training session, simply email Alana Beaugez at abeaugez@ahfa.com.

January 12: Realtor training via Zoom with Harris Doyle Homes and Stephanie

Gant of Silverton

Mortgage, Birmingham

January 17: Lender visit with CB&S Bank, Birmingham

January 23: Lender visit with Union Home Mortgage, Vestavia Hills

February 6: Lender visit with Assurance Financial, Homewood

February 6: Lender visit with HomeTown Lenders, Birmingham

February 6: Lender visit with loanDepot, Hoover

February 7: Lender visit with Prosperity Home Mortgage, Vestavia Hills

February 7: Lender visit with AmeriCapital Funding, Birmingham

February 7: Realtor training with RE/MAX Market Place in Trussville and Tracy Causey of DAS Acquisition

February 9: Lender visit with Cahaba Mortgage, powered by The Mortgage Firm, Hoover

February 9: Realtor training with Keller Williams in Hoover, featuring James Hall of Freddie Mac and Tonya Yarchak of First Federal Bank

Lenders & Realtors: Let's Connect!

New Participating Lenders

AHFA is pleased to welcome Thrive Mortgage, LLC and Pinnacle Bank as participating lenders in the Step Up program.

Holiday Office Closing

The AHFA offices will be closed on Monday, February 20 in observance of Presidents' Day.

Alabama Housing Finance Authority | www.AHFA.com