Habitat for Humanity of Central Arkansas Homeownership Program

Habitat for Humanity of Central Arkansas Homeownership Program is a first mortgage for homebuyers in Little Rock, Arkansas, administered by Habitat for Humanity of Central Arkansas. Habitat for Humanity of Central Arkansas partners with qualified families in Pulaski and Lonoke Counties to achieve homeownership through an affordable 0% interest mortgage on a Habitat-built home. Selection is based on need for housing, ability to pay, and willingness to partner; each adult completes 300 sweat-equity hours and a homebuyer education course. Habitat acts as lender/servicer for a 20- to 30-year zero-interest mortgage and retains a Right of First Refusal with shared appreciation on resale. 0% interest mortgage. No cash down payment (sweat equity instead). Monthly payment ~33% of income (PITI). Homebuyer education provided. Permanent residents eligible. Funding comes from Habitat for Humanity of Central Arkansas (nonprofit); homeowner mortgage payments recycle to build additional homes.

Habitat for Humanity of Central Arkansas Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Central Arkansas. Repayment is triggered by Monthly mortgage payments to Habitat; Habitat retains a Right of First Refusal and shares in appreciation if the owner sells. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of Central Arkansas Homeownership Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Habitat for Humanity of Central Arkansas homebuyer education course (in-person and online). Residency requirement: Must be a permanent resident (U.S. citizenship not required). Citizenship or immigration status: Must be a permanent resident (U.S. citizenship not required). Serves Pulaski and Lonoke Counties only. Mandatory orientation before applying; 300 sweat-equity hours per adult; one year employment with current employer; credit and criminal background checks; permanent residency required. Habitat retains Right of First Refusal and shares in home appreciation on resale. Not stackable with other DPA programs.

Habitat for Humanity of Central Arkansas Homeownership Program sets its income limit as follows: Family income must fall within Habitat income guidelines (past three years); applicants must demonstrate ability to pay. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of Central Arkansas Homeownership Program serves homebuyers purchasing in Little Rock, Arkansas.

Applications for Habitat for Humanity of Central Arkansas Homeownership Program go through Habitat for Humanity of Central Arkansas, which publishes the current terms and the application steps on its own site. Funds are reserved through Mandatory prospective-homeowner orientation, then application during open periods; reviewed by Homeowner Selection Committee and Board of Directors. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.