The City of Birmingham has announced a public notice for the FY 2025 Action Plan Comment Period. For more information, click here. The City of Birmingham Community Development Department has opened the FY25 Action Plan Application. For more information click here.

Down Payment Assistance Program

Apply Now

Program Overview

The purpose of the Ready to Own Program is to make homeownership more affordable for families through homebuyer assistance to qualified households purchasing a home within the City Limits of Birmingham.

  • Homebuyer assistance of up to $10,000
  • 5-year forgivable loan at 0% interest (with restrictive covenant)
  • Funds can go towards down payment, closing costs & interest rate buydowns
  • Property MUST be purchased within the city limits of Birmingham
  • Homebuyer Education is required in becoming a program participant.

Eligibility Requirements

  • Borrower MUST have minimum 600 credit score
  • Household income must not exceed the current HUD income limit at 80% of AMI
  • Homebuyers must complete a homeownership education course
  • Must have a signed purchase agreement before funds are reserved

Neighborhood Housing Services Role

  • Client Intake
  • Case management of clients
  • Homebuyer education
  • Facilitation of closings
  • Community seminars
  • Employee seminars

Our Partners

Participating Lending Partners:

Lenders are providing matching funds between $7,000 – $10,000 dollars

Copyright 2024 | The City of Birmingham Offices of Community Development | All Rights Reserved