City of Pine Bluff Economic and Community Development - Homebuyer Assistance Program
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Homebuyer Assistance Program

The Home Buyer's Assistance Program is designed to assist low-to-moderate income families and individuals wanting to purchase a home on the open market, a HUD repossessed home or one that is “for sale by owner” (FSBO). The Home Buyer Assistance Program is a citywide activity that will be carried out particularly in areas where total household incomes fall below 80% of the median income for Pine Bluff, according to census tract data. Persons wishing to participate in the Home Buyer Assistance Program must qualify according to the regulations for the Department of Housing and Urban Development HOME Program and the City of Pine Bluff requirements. Persons wishing to participate in this program may receive assistance in the form of $2,000.00 for down payment and up to $3,000.00 of eligible closing costs, not including prepaid items for a home on the open market. The homeowner is responsible for all closing cost over $3,000.00. A minimum of $500 toward the down payment from the buyer is mandatory. The $500 is not considered part of the closing cost.

I. ELIGIBILITY REQUIREMENTS FOR HOME BUYER ASSISTANCE PROGRAM:

Eligible persons for this program must be low or low-to-moderate income with a gross annual income that does not exceed 80% HUD, of the median income for Pine Bluff. See the chart below to see if you qualify.

MARITAL STATUS:

If you are separated or have a divorce pending, certain Arkansas Laws may affect your home purchase decision. Please notify or visit with our Loan Processor if this applies to your situation.

Download the Homebuyer Assistance Program



Info You Can Use

 -   Learn how to buy a HUD home
 -   Learn how to apply for public housing and Section 8
 -   See if HUD owes you a refund on your FHA loan
 -   Find a HUD-approved lender in your area
 -   Find out if HUD is holding backwages for you
 -   Talk to a housing counselor
 -   File a housing discrimination complaint

 
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[Logo: PB Seal] Pine Bluff Economic and Community Development
200 8th Ave, Pine Bluff, AR 71601
Telephone: (870) 543-1820