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First-time or Second-Chance Homebuyer Savings Account

A savings account for qualifying homebuyers1 that offers tax savings on the deposits and interest earned2.

 

For more information, read the Frequently Asked Questions provided by the Alabama Association of Realtors or visit their website at https://www.alabamarealtors.com/consumer/first-time-homebuyer.

 

 

1Accounts may only be opened by Alabama residents.

2Deductions for deposits only apply to your income for state tax purposes. Interest earned is still subject to any applicable federal taxes.  This is general information only and is not intended and should not be constured to be legal or tax advice.  Questions should be directed to a qualified legal or tax professional.  For more information, visit https://www.alabamarealtors.com/consumer/first-time-homebuyer.

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