Alabama Affordable Income Subsidy Grant

Alabama Housing Finance Authority offers Affordable Income Subsidy Grant to home buyers in Alabama: up to $2,500, as a grant.

Amount: As much as $2,500
Help type: Grant
Only first-time buyers: No
Your credit score: At least 640

How is Alabama Affordable Income Subsidy Grant paid back?

Grant.

A grant means money you don't ever pay back, provided you stick to the program's rules.

Who qualifies for Alabama Affordable Income Subsidy Grant?

Per Freddie Mac's limits for each county, household income: 80% of the area's median income (AMI).
Being a first-time buyer isn't required.
Your credit score needs to be 640 or above.
You'll take a homebuyer education course before buying.
An AHFA HFA Advantage conventional loan comes with it.

Your county and household size set most limits. Use our HUD income limits tool to see your area's median income and how your household compares.

How to apply for Alabama Affordable Income Subsidy Grant

This help is paid out through the approved lenders of Alabama Housing Finance Authority. You apply with one of them as part of your home loan application.
The lender compares your credit, income and the home itself with the program's rules, then sets the money aside for you.
At closing, this help is paid toward your closing costs and down payment.

On Alabama Housing Finance Authority's page for Affordable Income Subsidy Grant, see the full rules and find out if it's taking applications. You can also choose a lender through the agency's participating lender list.

Ask a lender about Alabama Affordable Income Subsidy Grant

Tell us where you're buying and a lender that works with Alabama's programs can tell you whether Alabama Affordable Income Subsidy Grant fits you, and what you could combine with it.

Call 866-602-7460

Don't want to call? The lender will contact you once you send your details.

More first-time buyer programs in Alabama

Alabama Step Up:
As much as 4% of the price, no more than $10,000, as a loan you repay.
Alabama First Step Mortgage Revenue Bonds (down payment assistance):
As much as 4% of the price, no more than $10,000, as a loan you repay.

Every Alabama first-time home buyer program · Down payment help in every state