Developed by the Arkansas Development Finance Authority (ADFA), this down payment assistance program offers between $1,000 and $6,000 to help cover the costs of closing, the down payment, or other prepaid items. This is a second mortgage with a 10-year term. Applicants are allowed to receive cashback for certain expenses outside of the closing costs.
This DPA program must be used in combination with an ADFA Move-Up Home Loan. Applicants must also finish a homebuying counseling program.
Other programs in Arkansas:
- 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 Affordable Housing Program
- Crawford-Sebastian Homeownership Center Down Payment Assistance