Mobile County Down Payment Assistance Program
Financial Assistance for Homebuyers in Alabama
The program provides income-eligible applicants assistance funds between $1,000 and $10,000 in the form of a grant. This money may be put toward the down payment and closing costs associated with the mortgage transaction. Both programs are funded by a grant from the U.S. Department of Housing and Urban Development (HUD).
In order to be considered eligible for the Mobile County Down Payment Assistance Program, all applicants must meet certain requirements. All applicants must be first-time homebuyers unless they are participants of the New Construction of Affordable Homes Program. Applicants must have an anticipated annual household income which does not exceed the program’s set limits, which is no more than 80% of the current, median family income for Mobile County (shown below).
Any property being purchased with program funds must serve as the applicant’s primary residence for five years. Homes must be located in the geographical area of Bayou la Batre, Chickasaw, Citronelle, Creola, Mount Vernon, Prichard, Saraland, Satsuma, Semmes, or the unincorporated areas of Mobile County (other areas may be included in the future). Mobile homes, condominiums, townhouses, and duplex or multiplex units are not eligible under the program.
Household income is defined as all income received by household members (18 years or older) who will be living in the home, even if they are not on the mortgage.
1 person household: $18,901 to $30,200
2 person household: $21,601 to $34,500
3 person household: $24,301 to $38,800
4 person household: $26,951 to $43,100
5 person household: $29,151 to $46,550
6 person household: $31,301 to $50,000
7 person household: $33,451 to $53,450
8 person household: $35,601 to $56,900
(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.)
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
Down Payment Grants in Alabama
Alabama Housing Finance Authority's Affordable Income Subsidy Grant is available to applicants that fall within the program’s income limits.
Step Up helps low- to moderate-income applicants achieve their homeownership goals, by providing down payment assistance. The funds are made available in the form of a 10-year second mortgage and are combined with a 30-year, fixed-rate first mortgage.
Mobile, Alabama's Homeownership Down Payment Assistance Program (HOME DPA) is a flexible gap financing program that helps to provide opportunities for first-time homebuyers to purchase homes that are safe, decent, and affordable.
The Mobile County Down Payment Assistance Program provides income-eligible applicants assistance funds between $1,000 and $10,000 in the form of a grant. This money may be put toward the down payment and closing costs associated with the mortgage transaction.
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