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.
The City of Fort Smith DPA program is available for buyers purchasing a property within the city limits of Fort Smith. 3.5% of the purchase price of the home is available as assistance funds to cover part or all of the down payment and/or closing costs. If there is a demonstrated need, it may also be allowed for a principal reduction of the mortgage loan.
This is a loan that does not need to be repaid providing that the buyer uses the house as their primary residence for a minimum of 5 years.
The purchase property will need to be inspected, and if it was built prior to 1978, will need to be inspected for lead based paint. The property cannot exceed a sales price of $125,000 as of 2017.
This program is for families with low income.
Other programs in Arkansas:
- ADFA Down Payment Assistance
- American Dream Downpayment Initiative
- Jonesboro Homeownership Assistance Program
- City of Pine Bluff Homebuyers Assistance Program
- Crawford-Sebastian Homeownership Center Affordable Housing Program
- Crawford-Sebastian Homeownership Center Down Payment Assistance