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Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program

Southern Bancorp Community Partners (SBCP), in partnership with Southern Bancorp mortgage division · Arkansas

Last verified
See what you qualify forOfficial program site →
Assistance

$12,000

The maximum the program publishes — not an offer

Repayment

Forgivable

Forgiven after 5 years

What is Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program is a forgivable loan for homebuyers in Arkansas, administered by Southern Bancorp Community Partners (SBCP), in partnership with Southern Bancorp mortgage division.

  • The Wealth Builders for Everyone Down Payment Assistance Program from Southern Bancorp Community Partners (a CDFI) offers forgivable down payment assistance to low-to-moderate-income and minority/underserved homebuyers, paired with a Southern Bancorp mortgage and HUD-approved homebuyer education. Southern Bancorp's banking footprint spans Arkansas and Mississippi.
  • Up to $12,000 as a forgivable loan toward down payment, prepaids, and closing costs; 0% interest, $0 monthly payment, forgiven at 20% per year and fully forgiven after 5 years if all criteria are met.

How much assistance does it provide?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program offers up to $12,000 in assistance.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — Southern Bancorp Community Partners (SBCP), in partnership with Southern Bancorp mortgage division determines any individual award.

Do you have to pay it back?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Failure to meet program criteria during the 5-year forgiveness period; forgiven at 20% per year.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Southern Bancorp Community Partners HUD-certified housing counselors.
  • Offered through Southern Bancorp's mortgage division (must obtain a Southern Bancorp mortgage). Eligibility focuses on low-to-moderate-income homebuyers, minority families, and traditionally underserved communities. Requires HUD-approved homebuyer education from SBCP's HUD-certified housing counselors. Available within Southern Bancorp's service footprint (Arkansas and Mississippi). Confirm exact income limits and current geographic eligibility directly with Southern Bancorp.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program sets its income limit as follows: Targeted to low-to-moderate-income (LMI) homebuyers; specific limits set by SBCP.

  • 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.

Where does it apply?

Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program serves buyers purchasing anywhere in Arkansas.

How do you apply?

Applications for Southern Bancorp Wealth Builders for Everyone Down Payment Assistance Program go through Southern Bancorp Community Partners (SBCP), in partnership with Southern Bancorp mortgage division, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Southern Bancorp Community Partners HUD-certified housing counselors..

  2. Contact Southern Bancorp Community Partners (SBCP), in partnership with Southern Bancorp mortgage division to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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