Arkansas Dream Down Payment Initiative

Arkansas Development Finance Authority

Available Down Payment

About This Program

Forgivable second mortgage up to $15,000 for eligible first-time homebuyers to assist with down payment and closing costs. Forgiven after 5 years of continuous owner occupancy. Income and purchase price limits apply.

Forgivable loan for down payment/closing costs, forgiven after 5 years of occupancy

Official program page checked live on 2026-06-17.

Data last verified 2026-06-09. How we verify our data.

Key Details

  • Up to $15,000 for down payment and closing costs
  • For first-time homebuyers
  • Income at or below 80% AMI typically required
  • Forgiven after 5 years of occupancy
  • Must complete homebuyer education course

How to Apply

A grant-savvy contractor in Siloam Springs, AR can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

Your application paperwork

Documents you will likely need

  • Proof you own and live in the home (deed, recent mortgage statement, or property tax bill).
  • A government-issued photo ID for every owner on title.
  • Household income proof (recent pay stubs, last year's tax return, or benefit award letters for everyone in the home).
  • The program's own application form, completed (use the official link or phone number on this page).

Requirements vary by program and locality. Confirm the exact rules on the official program page. We can help you prepare your paperwork, but you submit it yourself.

Deadline: Ongoing, subject to funding availability

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