Alabama Step Up
Alabama Housing Finance Authority offers Step Up to home buyers in Alabama: up to 4% of the price, at most $10,000, as a repayable loan.
- Amount
- Up to 4% of the price, at most $10,000
- Kind of help
- Repayable loan
- First-time buyers only
- No
- Credit score
- 640 or higher
How is Alabama Step Up paid back?
Repayable loan: 10-year second mortgage, paid each month along with your main home loan.
A repayable loan is a small second mortgage you pay off each month, usually in the same payment as your main home loan.
Who qualifies for Alabama Step Up?
- Household income must be $172,800 or less, whatever your household size or where you live.
- 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 a 30-year fixed-rate FHA, VA, USDA or HFA Advantage conventional first mortgage through a participating lender.
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 Step Up
- 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 Step Up, or pick a lender from the agency's list of participating lenders.
Ask a lender about Alabama Step Up
Tell us where you're buying and a lender that works with Alabama's programs can tell you whether Alabama Step Up 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 First Step Mortgage Revenue Bonds (down payment assistance): up to 4% of the price, at most $10,000, repayable loan.
- Alabama Affordable Income Subsidy Grant: up to $2,500, grant.
All Alabama first-time home buyer programs · Down payment assistance in every state