Offered by the Crawford-Sebastian Homeownership Center, this program requires that qualified applicants utilize the purchase property as their primary residence, use an approved lender, complete a homebuying education course, and attend 1-on-1 budget counseling.
A $4,000 grant is available to help cover the down payment and closing costs. The grant does not need to be repaid providing that the buyer uses the house as their primary residence for a minimum of 5 years.
In order to receive this grant, the borrower must use Armstrong Bank to finance their mortgage.
$500 of the grant must be used as a counseling fee. And additional $500 from the buyer’s own funds must be invested.
This program is only available to first-time homebuyers or single parents with dependents. Applicants must also be from a low-income family.
This program is only available in certain areas.
Other programs in Arkansas:
- ADFA Down Payment Assistance
- American Dream Downpayment Initiative
- Jonesboro Homeownership Assistance Program
- City of Pine Bluff Homebuyers Assistance Program
- City of Fort Smith Down Payment Assistance Program
- Crawford-Sebastian Homeownership Center Down Payment Assistance