Arkansas Dream Down Payment Assistance (ADFA) Loan Program
A Powerful Path to Homeownership in Arkansas
Buying a home can feel out of reach for many buyers, especially when it comes to saving for a down payment and closing costs. That’s where the Arkansas Dream Down Payment Assistance (ADFA) program can make a huge difference.
This program is designed to help eligible homebuyers in Arkansas purchase a home with financial assistance and flexible financing options.
If you’re a first-time homebuyer—or not—this program could help you get into a home for less.
What is the ADFA Program?
The Arkansas Development Finance Authority (ADFA) offers mortgage programs that provide down payment and closing cost assistance to qualified buyers purchasing a home in Arkansas.
The goal of the program is simple:
Make homeownership more affordable and accessible for Arkansas residents.
Through ADFA, eligible buyers can receive assistance, up to $15,000, that helps cover your down payment and closing costs, which is often the biggest hurdle when purchasing a home.
Key Benefits of the ADFA Loan Program
Down Payment Assistance
Qualified buyers can receive assistance toward their down payment and closing costs, helping reduce the cash needed to buy a home.
Competitive Interest Rates
ADFA loans offer fixed-rate mortgage options, providing stable monthly payments over the life of the loan.
Available with Multiple Loan Types
ADFA assistance can be paired with several loan programs including:
FHA loans
Conventional loans
VA loans (for eligible veterans)
USDA/RD Loans
This flexibility allows buyers to choose the option that works best for their financial situation.
Who Qualifies for an ADFA Loan?
While guidelines can vary slightly depending on the loan option, typical requirements include:
Meeting income limits based on household size and county
Purchasing a primary residence in Arkansas
Meeting credit score requirements of a 640 score.
Completing a homebuyer education course (for some borrowers)
Many buyers assume they won’t qualify, but the program is available to a wide range of borrowers—including many who already have stable income and credit.
What Types of Homes Can Be Purchased?
ADFA financing can be used for several property types including:
Single-family homes
New construction homes
Townhomes
Condominiums (in approved projects)
Manufactured Homes
The home must be used as the borrower’s primary residence.
Why Buyers Love the ADFA Program
For many homebuyers, the biggest obstacle is simply coming up with enough cash upfront. The ADFA program helps solve that problem by reducing the amount buyers need to bring to closing.
It allows many buyers to move forward with purchasing a home years sooner than they thought possible.
Is an ADFA Loan Right for You?
Every buyer’s financial situation is different, and the ADFA program is just one of many financing options available. The best way to determine if it’s a good fit is to review your full financial picture and explore all available programs.
If you’re considering buying a home in Arkansas and want to learn more about ADFA Down Payment Assistance, I’d be happy to walk you through the options and help you determine what works best for you.
✔ Start your application:
www.dianneglenn.com
Or reach out anytime and I’ll help you explore your options.