Every state has down payment or homeownership assistance programs; some states have both. The programs are designed to provide affordable housing opportunities to homebuyers who might not ordinarily be able to afford a house.
Each program can have their own income and eligibility requirements but primarily the programs are available for first-time homebuyers or low-income families.
Keep in mind if you had no ownership in a principal residence in the previous 3 years, you are also considered a first-time homebuyer even if you owned a home prior to that 3-year period.
The programs are not usually administered directly through the State. Instead, they are nonprofit based and handled through a third party agency. The list below will start you on your search but be sure to confirm the program is currently available.
Arkansas Development Finance Authority – homebuyer programs, including downpayment and closing cost assistance
U.S. Department of Agriculture Rural Housing – homebuyer programs in rural communities
Arkansas Affiliates of Habitat for Humanity – through volunteer labor, builds and rehabilitates houses for families in need
Local programs – Many communities across Arkansas offer homebuyer assistance programs as well as grants for home repairs. Contact your city or country offices for more information.
Housing counseling agencies – these free or low-cost counseling services can help you sort out your buying options