Arkansas ADFA Move-Up Loan Program Checklist

A step-by-step checklist for consumers applying for the Arkansas ADFA Move-Up Loan Program in 2025.

Confirm Your Eligibility

Ensure your household income falls within the program’s limits, which vary based on family size and location.
Verify that the property you plan to purchase meets the program’s price cap and will serve as your primary residence.
Check that your credit score meets the minimum requirement, typically at least 640, though your assigned Loan Officer may have additional guidelines.
Confirm you meet any other program requirements, such as residency or citizenship qualifications.

Collect proof of income, such as recent pay stubs, W-2s, or documentation for any additional income sources.
Prepare your tax returns from the past two years, including all schedules and relevant attachments.
Obtain bank statements for the last two to three months for all financial accounts.
Compile information about the property you are purchasing, such as the address, purchase agreement, and sale price.
Gather any additional documents requested by your Loan Officer, such as proof of assets, liabilities, or other supporting materials.

Your Loan Officer has been assigned to assist you with the Arkansas ADFA Move-Up Loan Program application process.
Schedule an initial meeting or call with your Loan Officer to review the program’s requirements and ensure your eligibility.
Ask any questions about the program or application steps to gain clarity on the process.
Follow the instructions provided by your Loan Officer to gather and submit the required documentation efficiently.

Collaborate with your Loan Officer to accurately complete the application for the Move-Up Loan Program.
Submit all required documents promptly to avoid delays in processing your application.
Carefully review the completed application with your Loan Officer to ensure all information is accurate and complete.
If necessary, complete a homebuyer education course as required by the program to qualify for assistance.

Sign all necessary documents provided by your Loan Officer to finalize your participation in the program.
Prepare to cover any additional costs not included in the program benefits, such as closing costs or prepaid items.
Receive confirmation of your enrollment in the program and details on how the Move-Up Loan benefits will be applied to your mortgage.

Ensure the purchased property remains your primary residence for the duration specified by the program’s terms.
Notify your Loan Officer immediately if you plan to sell, refinance, or make significant changes to your mortgage, as these actions may affect your program eligibility.
Stay informed about updates or changes to the program to remain in compliance and maintain your benefits.