First Time Home Buyer Guide Arkansas

Additional Resources for Arkansas

ADFA Move-Up Loan Program

  • What It Offers: An affordable mortgage for homebuyers. Can be combined with other ADFA single-family home-buying incentives.
  • Website: More About Move-Up Loan Program

ADFA MCC – Mortgage Credit Certificate Program

  • What It Offers: A dollar-for-dollar tax credit for first-time, low to moderate-income homebuyers. Allows qualifying homebuyers to claim a tax credit of up to 35% of the annual mortgage interest.
  • Website: More About MCC Program

ADFA Down Payment Assistance Program (DPA)

  • What It Offers: Up to $15,000 for down payment and closing cost assistance. It’s a second mortgage with a 10-year term carrying the same interest rate as the “ADFA Move-Up” Loan Program.
  • Website: More About DPA Program

Arkansas Dream Down Payment Initiative (ADDI)

  • What It Offers: Provides lower-income homebuyers up to $25,000. It’s a second mortgage loan with no monthly payment that is forgivable over five to ten years.
  • Website: More About ADDI Program

HOMEPATH

    1. What It Offers: Information for first-time homebuyers, including finding mortgage lenders, calculating loan costs, and budgeting for homeownership.
    2. Website: HOMEPATH