ARKANSAS DREAM DOWN PAYMENT INITIATIVE (ADDI)

ADDI is down payment assistance provided through HOME funding by HUD.

ABOUT ADDI

With ADDI, qualifying low-income Arkansans can be provided up to 10% 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.

ADDI must be used with the "ADFA Move-Up" Loan Program. First-time homebuyers using ADDI may also qualify to receive a FREE ADFA MCC - Mortgage Credit Certificate.

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How to Qualify

  1. Household income limits not above maximum.
  2. Pre-Purchase Homebuyer Education Class (8 hours) is required prior to closing. Contact one of the HUD Approved Homebuyer Counseling Agencies who will help you assess.
  3. Must use an approved lender.
  4. Must qualify for a mortgage.

Customer Story

Kesia Wilson made her dream of homeownership a reality using an ADFA first mortgage with the Arkansas Dream Downpayment Initiative (ADDI), a forgivable second mortgage which provides up to 6% of the sales price, not to exceed $10,000 for down payment, closing costs and pre-paids.

Single Family Staff

Denise Wells
Assistant Single Family Program Manager
Dean Norman
Single Family Underwriter
Virginia Wright
Single Family Underwriter
Leslie Quisenberry
Single Family Underwriter

PRE-PURCHASE HOMEBUYER EDUCATION CLASS

If you are using the Arkansas Dream Down Payment Initiative (ADDI) or if you are a first-time homebuyer using an HFA Preferred Conventional mortgage with the (ADFA Down Payment Assistance (DPA) Program to purchase a home, ADFA requires borrowers take a "Pre-Purchase Homebuyer Education Class" where a certificate will be issued upon completion.