Wisconsin DPA Programs
Explore down payment and homebuyer assistance programs in the state of Wisconsin.
Located in the southern region of the United States, Arkansas is the 25th state in the Union. With over 600 thousand acres of lakes, it is known for its lakes, rivers, and hot springs. The state’s capital and largest city is Little Rock. With a population of more than 3 million people, Arkansas boasts a homeownership rate of 66.8% (2022-U.S. Census Bureau).
DPA programs across the country continue to make homeownership possible for many. Below is a list of programs available in the state of Arkansas. Also, combining programs may be possible, so be sure to inquire.
Arkansas Development Finance Authority
City of Jacksonville Community Development
City of Jonesboro Grants & Community Development
City of Little Rock Department of Housing & Neighborhood Programs
City of Pine Bluff Economic and Community Development
Crawford-Sebastian Community Development Council, Inc.
University District Development Corporation
“ADFA Move-Up” Loan Program
“This program offers homebuyers, an affordable mortgage. And when using an ADFA Move-Up loan, borrowers may be eligible to combine it with other ADFA single family home buying incentives.”
ADFA Mortgage Credit Certificate Program
“An MCC is a dollar-for-dollar tax credit for first time, low-to-moderate income homebuyers. The certificate is issued by ADFA and allows qualifying, taxpaying homebuyers to claim a tax credit of up to 35 percent of the mortgage interest paid per year, capped at $2,000 annually. The credit may be claimed for the life of the loan as long as the home is their primary residence.”
ADFA Down Payment Assistance Program (DPA)
“The ADFA Down Payment Assistance Program (DPA) can provide up to $15,000 for down payment and closing cost assistance. ADFA’s Down Payment Assistance (DPA) Loan is a second mortgage with a 10-year term. It carries the same interest rate as the “ADFA Move-Up” Loan Program.”
Arkansas Dream Down Payment Initiative (ADDI)
“The Arkansas Dream Down Payment Initiative (ADDI) provides lower income homebuyers in Arkansas, who qualify for an ADFA first mortgage, up to $25,000. It is a second mortgage loan with no monthly payment that is forgivable over five to ten years depending on amount of assistance received.”
Home Buyers Assistance Grant
“If you desire to live in the city limits of Jacksonville, this program will pay half of your out-of-pocket expenses at the time of closing not to exceed $3,000.”
Homeownership Assistance Program
“The Homeownership Assistance Program funded by the Community Development Block Grant (CDBG) is designed to assist low- and -moderate income citizens to purchase, for owner occupancy, properties within the City limits of Jonesboro. Eligible applicant must be a first-time homebuyer and must commit to occupy the property as their principle residence.”
Down Payment Assistance Program
“The City of Little Rock has allocated funds to assist low and moderate-income first time homebuyers to purchase for owner occupancy residential properties within the city limits of Little Rock. The total of the down payment assistance from the City of Little Rock to the first-time buyer may not exceed six (6) percent of the purchase price, not to exceed $6,000.00.”
Save-A-Home
“Low-income potential homebuyers may apply for the Save-A-Home Program. The City acquires from time-to-time a house that is basically sound; however, needs extensive repairs. The City thoroughly rehabilitates the structure, then sells it to a low-income homebuyer at a cost as much as $10,000 below the total investment by the City if necessary to make it affordable.”
Home Buyer’s Assistance Program
“The Home Buyer’s Assistance Program is designed to assist low-to-moderate income families and individuals wanting to purchase a home on the open market, a HUD repossessed home or one that is “for sale by owner” (FSBO). Persons wishing to participate in this program may receive assistance in the form of $2,000.00 for down payment and up to $3,000.00 of eligible closing costs, not including prepaid items for a home on the open market.”
City of Fort Smith New Home Construction
“C-SCDC provides funding for new homes in the city limits of Fort Smith on a lot chosen by you. Purchaser must be under “Low Income Guidelines”. HOME Subsidy available up to $25,000, based on eligibility, for affordability.”
Fort Smith Homebuyers Assistance Program
“Must purchase in the city limits of Fort Smith. Up to $10,000 forgivable loan. No repayment as long as client lives in the home for 5 years (no interest/no payment).”
American Dream Downpayment Initiative (ADDI Program)
“The loan covers downpayment and closing costs up to 10% of the purchase price, not exceeding the $10,000 forgivable loan. Must be a first-time homebuyer.”
Federal Home Loan Bank of Dallas (HELP FUNDS)
“Up to $8500 forgivable grant. No repayment as long as client lives in the homes for 5 years (no interest/no payment)”
Mutual Self-Help Housing
“The Mutual Self-Help Housing is a program that helps families and individuals work together to build affordable homes. You save on contractor costs by providing sweat equity. Our clients move into their new home with an average of up to $20,000 equity.”
First-Time Homebuyer Program
“This program is especially designed to help eligible first-time homebuyers purchase a new or recently rehabilitated home by the UDDC within the University District. The UDDC Program provides assistance with down payment, closing costs, and purchase price reductions. The maximum amount of assistance available for down payment and closing costs is $20,000.”
States/Territories served: Arkansas. Louisiana, Mississippi, New Mexico, Texas
Homebuyer Equity Leverage Partnership (HELP) program
“Through member institutions, HELP assists low-income-qualified, first-time homebuyers with down payment assistance and closing costs.”
Single Family Housing Direct Home Loans
“Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time.”
Habitat Home
“We believe that everyone should have a safe, affordable place to call home. To carry out our vision, we partner with individuals and families from application through construction to when the keys are handed over.”
The next blog post in our series will explore down payment assistance programs in California.
Arkansas Development Finance Authority
City of Jacksonville Community Development
City of Jonesboro Grants & Community Development
City of Little Rock Department of Housing & Neighborhood Programs
City of Pine Bluff Economic and Community Development
Crawford-Sebastian Community Development Council, Inc.
University District Development Corporation
Explore down payment and homebuyer assistance programs in the state of Wisconsin.
Explore down payment and homebuyer assistance programs in the state of West Virginia.
Explore down payment and homebuyer assistance programs in the state of Washington.
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Source 1: Wikipedia: Reusing Wikipedia Content. This work is released under CC BY-SA. Source 2: Farlex Financial Dictionary
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