The Down Payment Myth

Most Arkansas renters who could already buy a home don’t — because of one belief: “I don’t have a down payment.” That belief has cost more families homeownership than bad credit, low income, and high rates combined. And here is the truth nobody is telling you: that belief is wrong.

Down payment assistance (DPA) is real money — grants, forgivable loans, and silent second mortgages — designed specifically to cover the cash that has been standing between you and a closing table. Many of these programs are pulled from federal, state, and city funds you have already paid into through your taxes.

In Arkansas, that stack is bigger than most people realize. Arkansas Development Finance Authority ...’s Down Payment Assistance program pairs with their StartSmart and Move-Up mortgages. Also, check with you city or county to see what they my have available. USDA and VA loans require zero down.

When the right programs stack together, cash-to-close can drop to a few thousand dollars — sometimes less. Sometimes the assistance is forgiven entirely if you stay in the home a few years.

This is where In Affordable Housing comes in. We are HUD-certified housing counselors. We do not make loans. We do not sell houses. What we do is sit down with you, look at your credit and your income, and figure out exactly which programs you qualify for — and how to make them work together.

Join us at the City of Little Rock DPA Fair from 9:30-11:30a.m., Saturday. June 6 at the Southwest Community Center, 6401 Baseline Rd, Little Rock, AR 72209.

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n June. It's National Home Ownership Month. Ready! Set! Close!

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