Step-Up Program

We at LAH love the Step-Up Program offered by the Alabama Housing Authority!

What is the Step-Up Program?

The Step-Up Program is specifically designed for moderate income homebuyers who can afford a monthly mortgage payment, but who can’t afford to save up for a down payment.

How does it work?

When you decide to purchase a home, the Alabama Housing Authority sets up two separate loans. The first loan is your standard 30 year loan and the second is a 10 year loan that covers the costs of your down payment. Both loans are fixed rate loans with the same interest rates.

Do I qualify?

In order to be eligible for the program you must meet these requirements:

  • You must buy a new or existing home. Refinancing an existing mortgage doesn’t qualify.
  • You must buy a home in Alabama and occupy it as your primary residence within 60 days of closing.
  • Your annual household income cannot exceed $97,300.
  • You must be a legal resident of the US.
  • You must apply for an FHA loan or conventional loan through a participating lender.
  • Your credit score must be 620 or higher.
  • You must complete a home ownership education course.shutterstock_206266147

How  do I get started?

We’re glad you asked! One of our very own, Director of Marketing, Emily Dykes, used this program to buy her home. Read her interview here and see how to get the ball rolling on your very own home!


Call us today!

205-870-8580 – Mountain Brook

205-879-8580- Homewood

205-440-4740- Hoover

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