The goal of the American Dream Downpayment Initiative is to create greater opportunities for homeownership among lower income Arkansans and minorities (80% of the area median income or less).  Household income limits are based on the county where the property is located and the number living in the home.

To participate in the First Time Federal Tax Credit / Mortgage Credit Certificate (MCC) program the borrower's household income limits must be within the allowable maximum limits for the county in which the property is located. Also the purchase price of the home cannot exceed $250,000.  

The ADFA Move-Up Program offers both first-time homebuyers and repeat Arkansas homebuyers, an affordable mortgage.

The ADFA Move-Up Choice Program offers both first-time homebuyers and repeat homebuyers in Arkansas a grant of 4% of their loan amount, funded by a higher interest rate on their first mortgage, to cover closing cost and prepaids, downpayment or even payoff debt at closing to help qualify for a loan.

  • No income limits for ADFA Move-Up or Move-Up Choice Programs.

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