Alabama Step Up Program Checklist
A step-by-step checklist for consumers applying for the Alabama Step Up Program in 2025.
Confirm Eligibility
- Verify that your household income falls within the program’s guidelines, which are based on family size and location.
- Confirm that your credit score meets the program's minimum requirement, typically at least 640, though higher scores may be required by your assigned Loan Officer.
- Ensure that the property you plan to purchase is within the program’s price limits and will serve as your primary residence.
- Review any additional requirements, such as being a first-time homebuyer or meeting specific residency qualifications.
Prepare Required Documentation
- Gather proof of income, such as recent pay stubs, W-2s, or benefit award letters.
- Collect bank statements for all accounts from the past two to three months.
- Prepare details about the property you are purchasing, including the purchase agreement and price.
- Obtain any additional documents requested by your Loan Officer, such as proof of debts or other obligations.
Connect with Your Assigned Loan Officer
- Your Loan Officer has been assigned to guide you through the Alabama Step Up Program.
- Schedule a meeting or phone call with your Loan Officer to discuss your eligibility and review the program details.
- Clarify any questions or concerns you have about the program or the required steps.
- Follow the instructions provided by your Loan Officer to proceed with your application.
Complete the Application Process
- Work closely with your Loan Officer to complete the application for the Step Up Program.
- Submit all necessary documents as requested to verify your eligibility and expedite the process.
- Carefully review your application with your Loan Officer to ensure it is accurate and complete.
- If applicable, attend a required homebuyer education course to fulfill program requirements.
Finalize Your Participation
- Sign all required documents provided by your Loan Officer to finalize your enrollment in the Step Up Program.
- Prepare to pay any additional costs not covered by the program, such as closing fees or prepaid expenses.
- Receive confirmation of your program approval and understand how the assistance will be applied to your mortgage.
Maintain Compliance with Program Terms
- Ensure that the purchased property remains your primary residence for the duration required by the program’s terms.
- Notify your Loan Officer promptly if you plan to sell, refinance, or make changes to your mortgage, as these actions may impact your program benefits.
- Stay informed about any updates or changes to the program to remain in good standing.