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ArkansasFirst-Time Homeowner programs

First-Time Homeowner grants in Arkansas

Browse first-time homeowner grants available in Arkansas, including statewide and local programs.

5 active programs in Arkansas

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ADFA’s Down Payment Assistance Loan Program layers a second mortgage of up to $15,000 on top of StartSmart or Move-Up loans so Arkansas buyers can cover most or all of their required down payment and closing costs while still benefiting from affordable fixed-rate financing.

Eligible for: Available statewide to buyers who qualify for an ADFA StartSmart or Move-Up first mortgage; households must meet the first-mortgage program’…

Funding: Second mortgage assistance from 1000 to 15000 dollars for down payment and closing costs with a ten year term at the same interest rate as the associated StartSmart or Move-Up first mortgage.Deadline: Rolling / subject to funding availabilityrollingstatewideIndividualDown payment assistanceClosing costsSecond mortgage

Jonesboro’s Homeownership Assistance Program offers up to $5,000 in closing-cost and down-payment help as a three-year forgivable lien to expand homeownership opportunities for low- and moderate-income first-time buyers within the city.

Eligible for: First-time homebuyers purchasing a home within the city limits of Jonesboro whose property meets HUD Minimum Housing Quality Standards, is n…

Funding: Maximum 5000 dollar grant equivalent for closing costs and or down payment provided as a three year forgivable lien recorded against the property.Deadline: Rolling / subject to funding availabilityrollingcityIndividualDown payment assistanceClosing costsForgivable lien

Little Rock’s Down Payment Assistance Program uses local funds to provide up to 6% of the purchase price (capped at $10,000) in assistance so low- and moderate-income first-time buyers can purchase and occupy homes within the city.

Eligible for: Low- and moderate-income first-time homebuyers purchasing owner-occupied residential properties within the city limits of Little Rock; must …

Funding: Down payment assistance up to 6 percent of the purchase price not to exceed 10000 dollars for eligible first time homebuyers purchasing owner occupied homes within Little Rock city limits.Deadline: Rolling / subject to funding availabilityrollingcityIndividualDown payment assistanceClosing costs

The StartSmart First-Time Home Buyer Program uses tax-exempt mortgage revenue bonds to deliver below-market interest rate 30-year loans for eligible Arkansas buyers, and can be paired with ADFA’s DPA second mortgage to significantly lower both upfront and monthly homeownership costs.

Eligible for: Designed primarily for Arkansas first-time homebuyers who have not owned a principal residence in the last three years, with exceptions for …

Funding: Below market 30 year fixed rate first mortgage financing for eligible first time homebuyers with a maximum purchase price of 500000 dollars and loan amount based on standard underwriting and program limits.Deadline: Rolling / subject to funding availabilityrollingstatewideIndividualMortgage loanInterest rate reductionFirst time homebuyer assistance

Statewide ADFA homeownership hub that connects Arkansas buyers with StartSmart, Move-Up and Down Payment Assistance mortgage options, combining below-market interest rates with up to $15,000 in assistance to reduce cash-to-close and monthly payments.

Eligible for: Low- to moderate-income Arkansas homebuyers working with participating ADFA-approved lenders; must purchase a primary residence in Arkansas,…

Funding: Combination of below market 30 year fixed rate StartSmart and Move-Up first mortgages and up to 15000 dollars in down payment and closing cost assistance through the ADFA Down Payment Assistance Program for eligible Arkansas homebuyers.Deadline: Rolling / subject to funding availabilityrollingstatewideIndividualMortgage loanInterest rate reductionDown payment assistanceClosing costs