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
- Up to $2,500
- Kind of help
- Grant
- First-time buyers only
- No
- Credit score
- 640 or higher
How is Alabama Affordable Income Subsidy Grant paid back?
Grant.
A grant is money you never pay back, as long as you keep to the program's rules.
Who qualifies for Alabama Affordable Income Subsidy Grant?
- Household income 80% of the area median income (AMI), using Freddie Mac's county limits.
- You don't have to be a first-time buyer.
- A credit score of 640 or higher.
- A homebuyer education course before you buy.
- It comes with an AHFA HFA Advantage conventional loan.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Alabama Affordable Income Subsidy Grant
- Alabama Housing Finance Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Alabama Housing Finance Authority's page for Affordable Income Subsidy Grant, or pick a lender from the agency's list of participating lenders.
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.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Alabama
- Alabama Step Up: up to 4% of the price, at most $10,000, repayable loan.
- Alabama First Step Mortgage Revenue Bonds (down payment assistance): up to 4% of the price, at most $10,000, repayable loan.
All Alabama first-time home buyer programs · Down payment assistance in every state