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
- Up to $15,000
- Kind of help
- Repayable loan
- First-time buyers only
- No
How is Arkansas Down Payment Assistance Loan Program paid back?
Repayable loan: a second mortgage at the same interest rate as your main home loan, repaid over 10 years.
A repayable loan is a small second mortgage you pay off each month, usually in the same payment as your main home loan.
Who qualifies for Arkansas Down Payment Assistance Loan Program?
- No income limit of its own, but your main home loan's income limit still applies.
- You don't have to be a first-time buyer.
- It comes with an ADFA StartSmart or ADFA Move-Up first mortgage.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Arkansas Down Payment Assistance Loan Program
- Arkansas Development Finance Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Arkansas Development Finance Authority's page for Down Payment Assistance Loan Program, or pick a lender from the agency's list of participating lenders.
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.
Rather not call? Send your details and the lender will reach you.
More help for buyers in Arkansas
All Arkansas first-time home buyer programs · Down payment assistance in every state