Southern Bancorp Wealth Builders DPA Program
Funding status: Active
How much assistance
Up to $12,000 (Forgivable Loan)
Zero percent interest rate with zero monthly payments. Staggered loan forgiveness at 20% per year. Fully forgiven after 5 years if all criteria are met.
Eligibility
- Income limits: Focused on low-to-moderate income (LMI) homebuyers, minority families, and traditionally underserved communities. Contact Southern Bancorp for specific income limits.
- First-time buyer required: No
- Geographic restrictions: Available in Arkansas and Mississippi through Southern Bancorp banking footprint.
- Homebuyer education required: Yes
How to Apply for Southern Bancorp Wealth Builders DPA Program
Step 1: Contact Southern Bancorp to begin the application process. Borrowers receive HUD-approved homebuyer education through Southern Bancorp Community Partners HUD-certified housing counselors as part of the program.
Notes
Southern Bancorp is a CDFI and HUD-approved housing counseling agency. Funds may be used toward down payment, prepaids, and closing costs. Verify current availability and specific income thresholds with Southern Bancorp directly.