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City of Opelika Homeownership Loan Program

Administered by:

City of Opelika Community Development Department
· City · Forgivable Loan

Funding status: Active

How much assistance

Up to $6,000 (50% of lender-required down payment)

Zero-interest deferred forgivable loan forgiven after 5 years of owner-occupancy.

Eligibility

  • Income limits:
    Total household annual income cannot exceed 80% of area median income as defined by HUD
  • First-time buyer required: Yes —
    Must not have owned a home in the past 3 years.
  • Geographic restrictions:
    Property must be within the city limits of Opelika, Alabama. Preference given to buyers in the Jeter Avenue Target Area.
  • Homebuyer education required: Yes

How to Apply for City of Opelika Homeownership Loan Program

Step 1: Apply through the City of Opelika Community Development Department. Applicants must complete Home Buyer Training provided by the Alabama Council of Human Relations. Must live in the property being purchased and it must be within the city limits of Opelika.

Notes

Grants cover 50% of lender-required down payment, not to exceed $6,000 per participant. Preference given to buyers in the Jeter Avenue Target Area.

Cities Where This Program Is Available