See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 7, 2026
Homebuyer Programs in Jonesboro, AR (2026)
Jonesboro is the fifth-largest city in Arkansas and the economic hub of the northeast region, anchored by Arkansas State University and a growing healthcare sector. The median home price is approximately $218,000, making homeownership accessible compared to many U.S. markets. The City of Jonesboro offers up to $5,000 in down payment and closing cost assistance through its CDBG-funded Homeownership Assistance Program, structured as a forgivable lien after three years. Buyers can also tap state-level programs including the ADFA Down Payment Assistance Program offering $1,000 to $15,000 and the Arkansas Dream Down Payment Initiative providing up to $10,000 as a forgivable loan. Habitat for Humanity of Northeast Arkansas provides an additional path to homeownership through its zero-interest mortgage program. By combining city, state, and federal programs, Jonesboro buyers can potentially stack significant assistance to reduce or eliminate out-of-pocket costs.
City Programs in Jonesboro
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Jonesboro Homeownership Assistance Program | Forgivable Loan | Up to $5,000 for down payment and closing costs | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $5,000 for down payment and closing costs
- First-time only:
- Yes
State Programs in Arkansas
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| ADFA Down Payment Assistance Program | Repayable Loan | $1,000 to $15,000 for down payment and closing costs | No | View → |
| ADFA Move-Up Loan Program | Zero-Interest Loan | Affordable 30-year fixed-rate mortgage with competitive interest rates | No | View → |
| ADFA StartSmart First-Time Homebuyer Program | Zero-Interest Loan | Below-market interest rate (approximately 1% below market rate) on a 30-year fixed mortgage | Yes | View → |
| Arkansas Dream Down Payment Initiative (ADDI) | Forgivable Loan | Up to 10% of the sale price, not to exceed $10,000 | Yes | View → |
- Type:
- Repayable Loan
- Amount:
- $1,000 to $15,000 for down payment and closing costs
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable 30-year fixed-rate mortgage with competitive interest rates
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Below-market interest rate (approximately 1% below market rate) on a 30-year fixed mortgage
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to 10% of the sale price, not to exceed $10,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Habitat for Humanity of Northeast Arkansas Homeownership Program | Zero-Interest Loan | Zero-interest mortgage set at affordable payment level | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Zero-interest mortgage set at affordable payment level
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. The Jonesboro Homeownership Assistance Program is available to first-time homebuyers who have not owned a home in the past three years and who meet HUD low-to-moderate income limits for the Jonesboro area.
Step 2: Complete homebuyer education. You must complete a HUD-approved homebuyer education course. The nearest in-person agency is the Mississippi County Arkansas Economic Opportunity Commission in Blytheville, or you can complete a course online through a HUD-approved provider.
Step 3: Contact the City of Jonesboro Grants and Community Development Department at 870-336-7170 or grants@jonesboroAR.gov to start your application for up to $5,000 in down payment and closing cost assistance.
Step 4: Get pre-approved for a mortgage. Work with an ADFA-approved lender if you also want to apply for the ADFA Down Payment Assistance Program ($1,000 to $15,000) or the Arkansas Dream Down Payment Initiative (up to $10,000). Visit the ADFA website for a list of participating lenders.
Step 5: Find a home within program requirements. For the Jonesboro city program, the home must be within Jonesboro city limits, outside a flood zone, and meet HUD Minimum Housing Quality Standards.
Step 6: Submit your application and close on your home. The city's assistance is paid directly to the title company at closing. The $5,000 forgivable lien is released after three years of owner-occupancy.
Frequently Asked Questions
How much down payment assistance can I get in Jonesboro?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay in Jonesboro?+−
What homebuyer education is required?+−
Are there other paths to homeownership in Jonesboro besides traditional programs?+−
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