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In an effort to assist first-time homebuyers to take on the challenge of homeownership successfully, the City introduced the First Time Home Buyer Loan Program.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

City of Opelika First Time Home Buyer Loan Program

The City of Opelika believes that successful homeownership benefits the homeowner as well as the surrounding neighborhood, but only when all the associated costs-mortgage, property taxes, insurance, maintenance, and repairs-are understood and manageable. In an effort to assist first-time homebuyers to take on the challenge of homeownership successfully, the City introduced the First Time Home Buyer Loan Program.

Available Assistance
The First Time Home Buyer Loan Program is a city-wide initiative that provides down payment and closing cost assistance to low- to moderate-income individuals. Preference is given to homebuyers in the Jeter Avenue Target Area. The target area is bound by 6th St, Samford Avenue, Fox Fun Parkway and Torbert Boulevard.  The City of Opelika provides 50% of lender required down payment (not to exceed $7,000), in the form of a zero-interest, 5-year loan. This is in conjunction with education and homebuyer training provided by the Alabama Council of Human Relations.

Eligibility Requirements
All applicants applying for the First Time Home Buyer Loan Program must be first-time homebuyers; anyone who has owned a home in the past three years is ineligible. Applicants must attend and complete homebuyer training, and the total household annual income cannot exceed 80% of the median income set by HUD. The property being purchased must serve as the applicant’s primary residence, and it must lie within the city limits of Opelika (Mobile or module homes do not qualify).

Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
 

First-Time Home Buyer Programs in Alabama

The MHA Home Ownership Program program provides first-time homebuyers safe and affordable opportunities to purchase their first home.

Alabama's Neighborhood Housing Services offers first-time homebuyers educational courses to help answer the questions that come with buying a home. The classes are offered online and at the office in Birmingham, for low- to moderate-income borrowers.

In an effort to assist first-time homebuyers to take on the challenge of homeownership successfully, the City introduced the First Time Home Buyer Loan Program.

Alabama's Community Development Department of the City of Huntsville offers first-time homebuyers two programs to help make their dreams of homeownership a reality, the Single Family HOME Ownership Program and the Down Payment Assistance Program

First-time homebuyers are offered assistance in buying a new home with the THA Homeownership Program.

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First-time homebuyer 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.

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