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
AHFA is established
Completed first multifamily bond issue, financing 416 units.
Created the Down Payment Assistance Program
Developed the Habitat for Humanity Loan Purchase Program
Created in-house loan servicing department, later trade-named ServiSolutions.
Introduced the Alabama Home Buyer Initiative
AHFA’s Multifamily Division reported surpassing a total funding of $1 billion
Total Financing Provided
Renters Served Since 1980
Homeowners Served Since 1980
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
“AHFA will continue its pursuit to improve access to affordable housing opportunities for Alabamians, including workforce housing and assisting disadvantaged persons.”
Step Up Down Payment Assistance Program
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”
Angela Meadows Apartments
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.”