TruService Community Federal Credit Union is a proud partner of the City of Little Rock for their Down Payment Assistance Program!  TruService is ready to help our community with homeownership. Connect with us now for Down Payment Assistance at 501-225-3636 option 4 or mortgages@truservice.net.

ABOUT DOWN PAYMENT ASSISTANCE:

• The City of Little Rock has allocated funds to assist low and moderate-income first time homebuyers to purchase for owner occupancy residential properties within the city limits of Little Rock

• The total of the down payment assistance from the City of Little Rock to the first-time buyer may not exceed six (6) percent of the purchase price, not to exceed $6,000.00

• Buyer must document that annual household income (≤80% area median income), adjusted for family size, does not exceed the maximums.

• Buyer must be a first-time homebuyer (not have owned any residential property within last three (3) years).

• Buyer must agree to own / occupy the property for a minimum of five (5) years (Affordability Period).

• Buyer must complete a homebuyer counseling course, acceptable to the City of Little Rock

• The loan is forgiven in equal monthly installments over a 60-month period

• Assistance shall be requested by applicant through a mortgage lender

• Buyer must be approved for a 1st mortgage through a bank or mortgage company.

• All repairs must be completed on the unit prior to approval of the assistance

• No cash back at closing to borrower