Arkansas Down Payment Assistance Loan Program
Arkansas Development Finance Authority offers Down Payment Assistance Loan Program to home buyers in Arkansas: up to $15,000, as a repayable loan.
- Amount
- As much as $15,000 in help
- Type of support
- A loan you repay
- Limited to first time buyers
- No
How is Arkansas Down Payment Assistance Loan Program paid back?
Repayable loan means a second mortgage at the rate of your main home loan, paid back over 10 years total.
You pay off the repayable loan, a small second mortgage, every month, usually together with your main home loan in one payment.
Who qualifies for Arkansas Down Payment Assistance Loan Program?
- It has no separate income cap, though the limit on your main home loan still counts.
- Being a first time buyer isn't required.
- This help is paired with a first mortgage through ADFA StartSmart or ADFA Move-Up.
Your county and household size set most limits. Use our HUD income limit search to see your area's median income and how your household compares.
How to apply for Arkansas Down Payment Assistance Loan Program
- With your home loan, you apply through an approved lender that Arkansas Development Finance Authority uses to pay this help.
- The lender compares your income, credit and the property with program rules, then sets the money aside for you.
- At closing this money goes to closing costs and your down payment.
See the full rules and current application status on Arkansas Development Finance Authority's page for Down Payment Assistance Loan Program, or choose a lender from the agency's participating lender list.
Ask a lender about Arkansas Down Payment Assistance Loan Program
Tell us where you're buying and a lender that works with Arkansas's programs can tell you whether Arkansas Down Payment Assistance Loan Program fits you, and what you could combine with it.
Would you rather skip the phone? Send your details and the lender will contact you.
Other Arkansas help for buyers
Every Arkansas first time buyer program · Down payment help nationwide