“ADFA MOVE-UP” LOAN PROGRAM

This program offers homebuyers, an affordable mortgage. And when using an ADFA Move-Up loan, borrowers may be eligible to combine it with other ADFA single family home buying incentives.

Program Information

Type of Loan:
First Mortgage (FHA, VA, Conventional, and RD)

Interest Rates:
(rates subject to change without notice)
Find 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.

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.

ARKANSAS DREAM DOWN PAYMENT INITIATIVE (ADDI)

The Arkansas Dream Down Payment Initiative (ADDI) provides lower income homebuyers in Arkansas, who qualify, up to 6% of the purchase price of their home, not to exceed $10,000. It is a second mortgage loan with no monthly payment that is forgivable over five years.

ADFA DOWN PAYMENT ASSISTANCE PROGRAM (DPA)

The ADFA Down Payment Assistance Program (DPA) can provide up to $10,000 for down payment and closing cost assistance. ADFA's Down Payment Assistance (DPA) Loan is a second mortgage with a 10-year term. It carries the same interest rate as the "ADFA Move-Up" Loan Program.

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.