Fort Smith Homebuyers Assistance Program
Funding status: Active
How much assistance
Up to $10,000 as a forgivable loan for down payment and closing costs (Forgivable Loan)
Affordability period of 5, 10, or 15 years depending on total assistance amount. If the borrower sells before the affordability period ends, a portion must be repaid to the City of Fort Smith.
Eligibility
- Income limits: Must meet low to moderate income limits. Must be certified as income eligible by CSCDC using the HUD Income Calculator.
- First-time buyer required: No
- Geographic restrictions: Must purchase within the city limits of Fort Smith, AR.
- Homebuyer education required: Yes
How to Apply for Fort Smith Homebuyers Assistance Program
Step 1: Contact Crawford-Sebastian Community Development Council at 479-785-2303. Attend the CSCDC Homebuyer Education class and complete one-on-one pre-purchase counseling. Must pay $500 out-of-pocket. Must use an approved lender. Property must pass environmental review and City of Fort Smith housing inspection.
Notes
Funded by City of Fort Smith HOME funds. No first-time homebuyer requirement. Available to both first-time and repeat buyers.