The Arkansas Dream Downpayment Initiative (ADDI) is downpayment assistance provided through HOME funding by HUD. With ADDI, qualifying Arkansans can be provided up to 6% of the purchase price of their home, not to exceed $10,000. It is a second mortgage loan with no monthly payment and is forgivable over five years.
ADDI can be used with ADFA Move-Up and also with the ADFA MCC - Mortgage Credit Certificate Program .
How do I qualify for ADDI?
- Household income limits not above maximum.
* 2017 County Income Limits for the ADDI Program
- Pre-Purchase Homebuyer Education Class (8 hours) is required prior to closing.
* Homebuyer Counseling Agencies
- Must use an approved lender.
* Participating Lender List
- Must qualify for a mortgage.
Single Family Staff available to assist you:
Barbara Whittaker - 501-682-5930
Dean Norman - 501-682-5935
Denise Wells - 501-682-5466
Derrick Rose - 501-682-5904
Andrew Branch, VP of Housing, 501-682-5860
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