American Family Funds, Inc., located in Mobile, Alabama, is the administrator for The Dove Foundation, a 501(c)3 non-profit charity that provides nationwide downpayment and/or closing cost assistance to qualified American home buyers.
By working with lenders, real estate agents, builders, buyers, and sellers, American Family Funds helps families who can afford a monthly home mortgage payment, meet the lenders credit requirements, but do not have the cash to make a downpayment. American Family Funds gives buyers the assistance they need in obtaining a down payment through our simple, non-governmental, down payment gift program. Down Payment Gift Assistance works best with an FHA insured loan.
With an approved FHA lender, the buyer with a few credit slips or high ratios may qualify for a loan and receive 100% of their required down payment from American Family Funds Down Payment Gift Program.
AFF meets the HUD requirements to participate in down payment assistance as a non-profit charity set forth in the HUD guidelines in section 4155.1, REV 4, CNG 1 Chapter 2, Section 3C.