First Time Home Buyer

 Programs in Arkansas

Complete First Time Home Buyer Programs Available in Arkansas.

The state agency created by the legislature in Arkansas to offer first time home buyer programs is the Arkansas Development Finance Authority. Here is a summary of the current first time home buyer programs that are offered:

Home To Own (Mortgage Revenue Bond Program) - low interest rate loans to low and moderate income first time homebuyers.

Down Payment Assistance Program - provided to qualifying lower-income Arkansans.

ADFA's New American Dream Down payment Initiative - down payment assistance for lower-income Arkansans.
 

For complete details on these first time home buyer programs available to Arkansas residents, visit the Arkansas Development Finance Authority website.

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, but simply want to apply for a mortgage, we recommend  ING DIRECT Orange Mortgage They have great rates, an easy online application, and welcome first time home buyers. Additionally they have not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.

Other First Time Home Buyer Programs & Resources