“ADFA MOVE-UP CHOICE” SINGLE FAMILY LOAN

The "ADFA Move-Up Choice" Single Family Loan Program offers the homebuyer a grant of 4% of their loan amount to cover down payment and closing costs.

Program Information

This mortgage program is available to both first-time and repeat homebuyers in Arkansas.

Type of Loan:
First Mortgage (Conventional HFA Preferred 95% or 97%)

Interest Rates:
(rates subject to change without notice)
For rates contact a participating lender.

Loan Term:
30-year fixed rate with no prepayment penalty

Maximum Purchase Price:
$424,100 - Arkansas conventional conforming loan limit - loans that will be sold to either Fannie Mae or Freddie Mac are called conventional loans. In short, if the mortgage is not an FHA, VA (Veteran’s mortgage) or USDA (United States Department of Agriculture) loan, it’s probably a conventional mortgage loan.

Customer Story

Caleb Turner, with the help of Armstrong Bank, closed ADFA’s first Move-Up Choice Loan to purchase his first home in Prairie Grove, AR

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

Additional Programs

You may be able to combine this program with the following ADFA programs.

ADFA MCC - MORTGAGE CREDIT CERTIFICATE PROGRAM

The ADFA MCC Program is a dollar-for-dollar tax credit for first time, low-to-moderate income homebuyers. The certificate is issued by ADFA and allows qualifying homebuyers to claim a tax credit of up to 50% of the mortgage interest paid per year.