FHA

Effective July 12, 2022, AHFA has aligned with FHA ML 2022-11 in regard to Revised Appraisal Validity Periods. Please refer to the Mortgagee Letter for additional details.

VA

Effective immediately, AHFA is aligning with VA Circular 26-22-13 which clarifies when an appraisal is required for VA-guaranteed loans and announces new procedures for alternative valuation methods. AHFA will purchase VA Step Up loans that utilize alternative valuation methods that comply with the terms of the circular. Please refer to the VA Circular for additional details.  

Clarification: In consultation with the VA St. Petersburg Regional Office, AHFA has confirmed that the Step Up VA purchase first mortgage program is permitted to exceed 100% LTV/CLTV when combined with the AHFA Step UP DPA/Closing Cost second mortgage program. 

AHFA is a State Housing Finance Authority, therefore our programs are considered Homebuyer Assistance Programs (VA Pamphlet 26-7, Revised Topic 13 Page 9-26) which allows for the approval of our programs for CLTV exceeding 100%. Our Step Up DPA loan when combined with our VA 1^st Mortgage can pay the Veterans closing costs up to 4% of the sales price up to a maximum of $10,000.

Freddie Mac

Effective immediately, AHFA is aligning with the Freddie Mac HFA Advantage Mortgage Enhancement permitting non-occupying borrower(s). Please refer to the Freddie Mac Seller Guide for additional details.