Board of Directors Approves Multifamily Plans, Financing |
The AHFA Board of Directors met July 7 and approved the draft 2023 allocation plans for the Housing Credit, HOME, and National Housing Trust Fund programs. In addition, multifamily bond financing was approved for developments in Mobile and Loxley. |
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Kids Art Contest Draws an Unconventional Winner |
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AHFA invited children in Alabama, ages 5 to 18, to submit original art that illustrates their answer to the question, “What Does Home Mean To You?”
First-place winner Aundrea Woods of Pinson presented a piece of artwork that portrayed home in a way that was unexpected -- a picture of a house that was broken. To explain her picture, she said, "My daddy doesn’t live here anymore and I feel like I’m in the middle.”
Aundrea admits that spending time with each parent is difficult and wonderful at the same time. When asked, "If your artwork could talk to other kids your age, what would it tell them?” Woods responded by saying, “If your mom and dad are split apart, don’t be sad. It doesn’t matter ‘cause you still have family and you are still loved.”
Thank you to nine-year-old Aundrea for shedding positive light on a negative, yet common, reality.
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Other top vote-getters were Makenzie Deanes, age 9, of Madison and Emma Jane Howell, age 8, of Mobile.
AHFA received 27 entries and more than 1,300 votes in our first-ever Kids Art Contest to celebrate Homeownership Month, a national observance held each June.
Continue to enjoy the excellent art submissions at
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AHFA Accepting Comments on 2023 Multifamily Allocation Plans |
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AHFA conducted a public hearing on July 14 concerning the proposed 2023 Low-Income Housing Tax Credit Qualified Allocation Plan, HOME Action Plan, and National Housing Trust Fund Allocation Plan, for the distribution of funds in exchange for the new construction of extremely low-, low-, and moderate-income projects and the monitoring of the funding for those projects. |
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Additionally, AHFA presented the HOME-American Rescue Plan, a substantial amendment to the 2021 HOME Action Plan for the distribution of funds in exchange for the new construction of extremely low-, low-, and moderate-income projects for Qualifying Populations and the monitoring of the funding for those projects.
AHFA will accept comments on the draft plans until 5 p.m. on Monday, August 15. View the plans and associated Comment Form at https://bit.ly/3uwKyk2.
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loanDepot Leads Lenders in FY22Q3
Each quarter, AHFA recognizes the top loan officers who are closing the most deals using AHFA homeownership programs: Step Up, Affordable Income Subsidy Grant, and Mortgage Credit Certificates.
The top Leading Lenders for Fiscal Year 2022, 3rd Quarter are:
Congratulations to these lenders! We appreciate them utilizing our programs to make buying a home more affordable for Alabamians.
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What's the Biggest Myth About Buying a Home?
loanDepot Lenders Answer.
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loanDepot is our Top Participating Lending Company for the 3rd quarter of FY22, closing the most home loans this quarter using our homeownership financing options. To recognize loanDepot lenders who closed loans using our mortgage programs during this time, we asked them to share the biggest myths about buying a home.
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“The biggest myth about buying a home is that it is hard to do. It is not at all. For my clients, there is no such thing as a 'no.' There may be a 'not right now,' but there is more than one way to skin a cat. When borrowers work with me, they just need to trust me and my process, and I will get them to the closing table.”
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"That you need 20% down to make it work. Nope!”
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"The biggest myth is that you have to put 20% down to purchase a home.”
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Grand Opening Held for Birmingham Housing Development |
A July 22 ribbon-cutting event marked the grand opening of the second phase of Villas at Titusville. The newly renovated, 64-unit development was financed in part by $10 million in Multifamily Housing Revenue Bonds and $713,106 in Low-Income Housing Tax Credits -- administered in Alabama by AHFA.
A project of the Birmingham Housing Authority, Villas at Titusville II is the final phase of the Loveman Village redevelopment.
AHFA administers multifamily programs to create affordable rental housing by providing funding and tax incentives that help developers build or rehabilitate properties for Alabama’s low-income families.
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Beaugez Joins AHFA's Single-Family Division |
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We are excited to announce that Alana Beaugez has joined the Alabama Housing Finance Authority. As our Single-Family Business Development Specialist, she will play a vital role in communicating with our partners throughout the state to help make homeownership affordable.
Alana brings more than 20 years of experience as a mortgage lender working with Alabama families to achieve their homeownership goals. She will lead initiatives to promote AHFA’s single-family programs and better connect with lenders, realtors, and homebuilders across Alabama.
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AHFA Welcomes New Lender to Step Up Program |
AHFA is pleased to welcome NFM, Inc. as a participating lender in the Step Up program. NFM operates as NFM Lending in Mobile and as BluPrint Home Loans in Birmingham.
The Step Up program is AHFA’s flagship homeownership program, providing down payment assistance and competitive rates which make buying a home a reality for more Alabamians.
If you are a lender and would like to participate in any of AHFA’s single-family financing programs, please contact AHFA to request a lender participation package.
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Outreach & Education Opportunities Offered |
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July 20: Lender training with Cross Country Mortgage in Columbus, Ga.
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Are you a mortgage professional or Realtor who wants to know more about AHFA programs?
AHFA offers on-site training that covers borrower and property eligibility, processing, documentation, income calculations and more.
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Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website
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