The Arkansas Dream Downpayment Initiative 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.
How do I qualify for ADDI?
- Must be a First Time Homebuyer. (Have not been a homeowner in the past three years.)
- Household income limits not above maximum.
* 2016 County Income Limits for the ADDI Program - pdf
- Must be used with HometoOwn or Mortgage Credit Certificate Program, or both.
- Homebuyer counseling class (8 hours) is required prior to closing.
* Homebuyer Counseling Agencies - pdf
- Must use an approved lender.
* Participating Lender List - pdf
Single Family Staff available to assist you: