Alabama Housing Finance Authority Awarded as Top Producer by Freddie Mac

MONTGOMERY, Ala. – The Alabama Housing Finance Authority (AHFA) has been recognized as one of Freddie Mac’s top producers for 2023.

AHFA placed third in the region among small market HFAs with state populations under 6 million, closing 207 mortgage loans for more than $41 million for homebuyers of modest means.

“AHFA plays a vital role in the affordable ecosystem, and we thank them for their partnership and making 2023 a record year for HFA Advantage,” said James Hall, affordable lending manager for Freddie Mac.

Freddie Mac’s HFA Advantage is a conventional mortgage available to housing finance agencies like AHFA to advance homeownership opportunities for very low-, low- and moderate-income borrowers. AHFA administers the program through a statewide network of more than 50 mortgage lenders.

“Our popular ‘Step Up’ program offers the Freddie Mac loan option because it opens doors for those we serve – Alabama’s low- to moderate-income homebuyers who need a little extra help entering homeownership,” said AHFA Single-Family Administrator Carrie Hamaker. “Another key benefit is that the loans can be combined with an Affordable Income Subsidy Grant, further reducing homebuyers’ entry costs.”

Since the year 2000, AHFA’s Step Up program has helped more than 21,000 Alabama homebuyers who can afford a monthly mortgage but need assistance with the down payment and closing costs. These funds can be combined with an Affordable Income Subsidy Grant and a Mortgage Credit Certificate to further boost their purchasing power. For more information, visit https://www.ahfa.com/homebuyers/programs-available.

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AHFA, established in 1980 by an act of the Alabama Legislature, is a self-supporting public corporation dedicated to meeting the housing needs of the state’s low- to moderate-income citizens. Its programs have provided opportunities for more than 200,000 families to live in homes they can afford.