AHFA Affordable Income Subsidy Grant
In addition to the Step Up program’s down payment assistance, borrowers who opt for financing through the HFA Advantage loan are eligible for a grant to help with closing costs.
If a borrower’s income does not exceed 50% of the AMI limits, they can qualify for a grant equal to 1% of their loan amount.
If a borrower’s income is at or below 80% of the AMI limits, they are entitled to receive a grant worth 0.5% of their loan amount.
To qualify for this closing cost grant program, you’ll need to meet household income limits as well as AHFA’s standard guidelines for credit score, debt-to-income ratio, and more.