Choose the Arkansas mortgage first, then review assistance and education
The Arkansas Development Finance Authority (ADFA) offers homebuyer financing through participating lenders. The first-mortgage program affects ownership-history rules, income review and the assistance that can accompany it. Browse city directories above, then use the official resources below to prepare a program-specific conversation. Directory inclusion does not establish ADFA participation or approval.
Find the contact handling an ADFA purchase
ADFA says participating lenders originate, process and close its homebuyer loans. Its mortgage-lender finder lists loan-officer contacts, employers and office locations. Use it to identify an ADFA contact, then confirm which program that officer can handle for the proposed property. Ask how lender prequalification, ADFA review and closing fit together. A contact entry provides a starting point for comparison, rather than a guarantee that your application or assistance request is approved.
Check ownership history and the program's income definition
StartSmart generally requires no ownership of a principal residence during the three years before closing. ADFA lists exceptions for purchases in designated targeted counties and for veterans or spouses of veterans with the required documentation. Have the lender verify the property's target designation and the applicable ownership-history exception. The home must be a primary residence, and an exception to first-time buyer status does not remove the other qualification requirements.
Move-Up has no first-time homebuyer requirement and also requires a primary residence. Its eligibility page refers to the borrower's qualifying income, while StartSmart describes household income limits that vary with family size and property county. Ask the lender whose income and which sources it must count for each route before comparing eligibility. Both pages describe fixed-rate first mortgages; the specific mortgage type and property still need lender review.
Budget the assistance as a second mortgage
ADFA's Down Payment Assistance program pairs with a qualifying StartSmart or Move-Up first mortgage. It is a repayable second mortgage with a ten-year term. Request separate balances and payment figures for both mortgages, plus taxes, insurance and other housing costs, before comparing offers. Assistance that reduces the funds needed at closing still creates a loan obligation; it should not be budgeted as a nonrepayable grant.
The guidelines revised June 10, 2026 say this assistance cannot pay for repairs or pay off debt to qualify for the mortgage. If a purchase needs repairs or credit preparation, ask the lender to explain how those needs will be handled separately. Request the current loan agreement and payoff instructions for a sale or refinance rather than assuming that another program's forgiveness rules apply to ADFA DPA.
Distinguish the required course from individual counseling
ADFA's June 10, 2026 guidelines direct lenders to the first-mortgage agency's education rules. For Freddie Mac HFA Advantage when all occupying borrowers are first-time buyers, they require at least one borrower to complete homebuyer education and identify CreditSmart Homebuyer U as acceptable. They explicitly say CreditSmart Essentials does not meet that requirement. Have the lender confirm the course, completion document and deadline for your mortgage; do not turn a general learning resource into a universal requirement or exemption.
If you need help organizing a budget or resolving barriers before applying, HUD's housing-counseling information distinguishes individual counseling from a general education workshop. Call 800-569-4287 to locate an agency serving your Arkansas area and request pre-purchase help. Confirm services, appointment format and any fee with the agency, since agencies do not all offer every service. Ask separately whether the chosen course satisfies a municipal assistance program attached to your purchase.
Published by Mortgage Firm, an independent directory. Program administrators and lenders determine current availability and eligibility. Our editorial approach