Alabama

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Alabama Housing Finance Authority

The Alabama Housing Finance Authority (AHFA) provides homeowner and rental opportunities for Alabamians.

Relation to the State Government: Self-Supporting Public Corporation

Current Staff Size: 152

 

Visit AHFA's Website
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1980

AHFA is established

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1983

Completed first multifamily bond issue, financing 416 units.

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1990

Created the Down Payment Assistance Program

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1991

Developed the Habitat for Humanity Loan Purchase Program

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2005

Created in-house loan servicing department, later trade-named ServiSolutions.

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2014

Introduced the Alabama Home Buyer Initiative

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2020

AHFA’s Multifamily Division reported surpassing a total funding of $1 billion

$7.13b

Total Financing Provided

61,372

Renters Served Since 1980

74,292

Homeowners Served Since 1980

Signature Program

Habitat for Humanity Loan Purchase Program

Through this program, the first of its kind in the nation, AHFA purchases loans from affiliates throughout the state, who in turn use the funds to build more housing for those in need. This process allows the affiliate to receive the loan money up front in a lump sum while AHFA receives the mortgagors’ monthly payments for the life of the loan.

Dollar amount of loans purchased: 29,000,000

 

Future Focus

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Robert Strickland

Executive Director

“AHFA will continue its pursuit to improve access to affordable housing opportunities for Alabamians, including workforce housing and assisting disadvantaged persons.” 

Success Stories
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Step Up Down Payment Assistance Program

 

McCalla, AL

Raven Peggins is a two-time Step Up down payment customer who recently sold her townhouse to purchase a bigger home to make the nurse practitioner’s commute to her job at UAB’s Kirklin Clinic more convenient. She first heard about the Step Up program on the advice of her lender. “I was happy to use Step Up again when he recommended for my second home purchase. It’s allowed me to save money and make purchases for the home instead of a having to put down a big down payment”

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Angela Meadows Apartments

 

Albertville, AL

After fleeing an abusive relationship, Jennifer Watson made a home for her and her son, Landon, at Angela Meadows. Landon was born with a rare medical condition that required around the clock care. Jennifer says, “My job is less than a mile from the development. Living here helped me to be a caregiver and keep my job.” Jennifer recently married Brandon, and says, “We enjoy many of the development’s amenities and are very thankful for the opportunity to live here.”

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Evelyn checking the mail at her new house, Step Up program
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The Park at Wood Station
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Sindy Lorvanis, Hannah & Issac, Hidden Hills Trace, Phenix City
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Highland Manor Apartments
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Zach McCraw, Spanish Fort, Mortgage Credit Certificate program