SUMMARY OF
SINGLE FAMILY HOMEBUYER PROGRAMS
Home To Own Program
- Type of Loan – First Mortgage ( FHA, VA, RD)
- Interest Rate - subject to change with advance notice. –

- Loan Term – 30 years only ( No Prepayment Penalty)
- Purchase Price Maximum - $ 225,000.
- Income Limits – Based on county where property is located and the
number in household.
- Must be a first time homebuyer except in targeted counties.
- Minimum credit score of 620 for all borrowers.
- Buyer must occupy property as primary residence.
- Two – 100% Loan Products. VA & Rural Development with No MI.
Down Payment Assistance (DPA)
- Type of Loan - Second Mortgage
- Purpose of Loan – cover downpayment, closing costs and prepaids
- Loan Amount - $ 1,000 to $ 6,000.
- Interest Rate - subject to change -

- Loan Term – 10 years
- Homebuyer counseling class (8 hours) is required.
- Cash back to borrowers at closing to cover expenses paid up front.
American Dream Downpayment Initiative- ( ADDI Program)
- Purpose of Loan – Downpayment and closing costs
- Amounts up to 6% of the purchase price not exceeding $ 10,000.
- Must be first time homebuyer.
- Income limits – Based on county where property is located and number
in household.
See ADDI income limit chart. -
Click Here for Income
Limits
- Homebuyer counseling class ( 8 hours) is required.
- NOTE: ADDI funds can be used without using the Bond
Program first mortgage To access the ADDI funds, contact ADFA's
HOME Department at 501-682-5900.