Arkansas Dream Down Payment Initiative (ADDI)

Administered by: Arkansas Development Finance Authority · State · Forgivable Loan

Funding status: Active

How much assistance

Up to 10% of the sale price, not to exceed $10,000 (Forgivable Loan)

Forgiven over 5 years in equal annual installments (20% per year) as long as the homebuyer continues to own, occupy, maintain, insure, and pay all taxes on the home.

Eligibility

  • Income limits: Must meet low-income limits based on county and household size
  • First-time buyer required: Yes — Must not have owned a principal residence in the past 3 years.
  • Geographic restrictions: Statewide. Must be used with an ADFA first mortgage.
  • Homebuyer education required: Yes

How to Apply for Arkansas Dream Down Payment Initiative (ADDI)

Step 1: Apply through an ADFA-approved lender. Must complete 8 hours of homebuyer counseling. The lender will verify income eligibility and first-time buyer status.

Visit program website

Notes

Soft second mortgage for low-income buyers. Requires 8 hours of homebuyer education/counseling.

Available Statewide In