City of Montgomery announces partnership to help boost home ownership in the city | Home & Garden

The City of Montgomery is pleased to announce a partnership that has been initiated for an affordable housing program (AHP) set-aside program in the amount of $1.5 million dollars for low income home persons in need of housing assistance. The affordable housing product is an offering made available to First Tuskegee Bank (FTB) for being a member of the Federal Home Loan Bank (FHLB) of Atlanta.

The housing set-aside product will provide matching funds for down payment assistance, closing costs, rehabilitation assistance and accessibility assistance for persons with disabilities. Persons interested must meet eligibility guidelines.

Funds will be granted to eligible persons on a first come-first served basis until they are depleted.

AHP set-aside products being offered includes:

Non-Veteran Products Being Offered:

• First-time Homebuyer Product - $5,000, 4 to 1 match ratio
• Community Stability Product - $5,000, 4 to 1 match ratio
• Foreclosure Recovery Product - $12,000, 4 to 1 match ratio
• Energy Efficiency & Weatherization Rehabilitation - $12,000, No match required
• Accessibility Rehabilitation Product - $12,000, No match required

Veteran Products Being Offered

• First-time Homebuyer Product - $5,000, No match required
• Community Stability Product - $5,000, No match required
• Foreclosure Recovery Product - $12,000, No match required
• Energy Efficiency & Weatherization Rehabilitation - $15,000, No match required
• Accessibility Rehabilitation Product - $15,000, No match required

To apply for the AHP Set-aside program please call the City of Montgomery, Department of Planning, Community Development Division at (334) 625-2997.

Source:  City of Montgomery