The Crawford-Sebastian Homeownership Center offers a variety of Down Payment and Closing Cost Assistance Programs to potential homebuyers. Each program requires applicants to occupy the purchased property as their primary residence and utilize an approved lender.

FHA Mortgage Loan Rates

August 22, 2019
FHA Rates for August 22, 2019
Compare 30 Year Fixed Mortgages
Compare 30 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
Get started one
Get started two
Get started three
Get started four
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Choose a Loan Type

then
get
your

Your Credit Score

Do you know what's on
your credit report?
Get Credit Score Button
Get Credit Score Button
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Crawford-Sebastian Homeownership Center

Financial Assistance for Homebuyers in Arkansas

In an effort to help individuals purchase a home, the Crawford-Sebastian Homeownership Center offers a variety of Down Payment and Closing Cost Assistance Programs that help potential homebuyers achieve their dreams of homeownership. 

Available Programs
All these assistance programs require that applicants occupy the purchased property as their primary residence and that they utilize an approved lender.

The Affordable Housing Program awards first-time homebuyers (or single parents with dependents) a $4,000 grant for down payment and closing cost assistance. As long as buyer stays in home 5 years, the funds do not need to be repaid. This program requires that applicants use Armstrong Bank for financing their first mortgage, and fall under the low income bracket. Applicants are also responsible for contributing a minimum of $500 toward the mortgage, and for completing an 8-hour homebuyer counseling class. Any home being purchased must serve as the applicant’s primary residence, and must be locating in Crawford and Sebastian Counties (some Oklahoma areas also).

The Arkansas Development Finance Authority Home to Own Program offers assistance funds up to $6,000 via a second mortgage, which can be put toward covering some or all of the down payment and closing costs. The program requires an FHA, VA, RD first mortgage with a 30-year term (no prepayment penalty). The home being bought cannot exceed the program’s maximum purchase price $250,000. All applicants are required to complete a homebuyer counseling course, and fall within the program’s set income limits (based on county and number in household):

Crawford County
1-2 person household: $63,480
3 or more person household: $74,060

Sebastian County
2 person household: $56,520
3 or more person household: $65,940

The Down Payment Assistance (DPA) Program provides applicants with $1,000 to $6,000 in the form of a second mortgage. The funds can be put toward the down payment, closing costs, and prepaid items associated with a mortgage transaction. The loan term lasts for 10 years, and the interest rate is subject to change. The program guidelines require that the home being purchased is owner-occupied, and that applicants complete an 8-hour homebuyer counseling class. spacer

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Arkansas

The Arkansas Development Finance Authority (ADFA) offers assistance to homebuyers who can afford a mortgage, but not the upfront costs associated with it. Applicants are granted a loan amount of $1,000 to $6,000 in order to afford these costs. 

The American Dream Downpayment Initiative (ADDI) Program provides qualifying, low-income applicants with assistance funds in the form of a forgivable, soft second mortgage, up to six percent of the sale price, not to exceed $10,000. These funds can be used to cover some or all of the downpayment and closing costs. 

The Crawford-Sebastian Homeownership Center offers a variety of Down Payment and Closing Cost Assistance Programs that help potential homebuyers achieve their dreams of homeownership.  Applicants are requird to occupy the purchased property as their primary residence and must utilize an approved lender.

The Crawford-Sebastian Homeownership Center offers a variety of Down Payment and Closing Cost Assistance Programs to potential homebuyers. Each program requires applicants to occupy the purchased property as their primary residence and utilize an approved lender.

This program provides eligible applicants with funds to cover some or all of the down payment and closing costs associated with a mortgage transaction in order to help make the home buying process more affordable. This assistance is paid directly to the title company.

SEE YOUR CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


spacer

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!