Conway Down Payment Assistance Programs — Grants, Zero-Down Loans & First-Time Buyer Help

If you want to buy a home in Conway but need help with your down payment, this is the guide that changes everything. Hundreds of buyers every year use grants, zero-down loans, and closing-cost assistance programs — and most don’t even realize they're eligible.

This page breaks down EVERY powerful down payment assistance program available in Conway, Arkansas. FHA, USDA, ADFA grants, first-time buyer incentives, closing-cost support, and niche programs other agents don’t even know exist.

And because you’re working with Ashley Watters, REALTOR®, the most dominant force in Central Arkansas real estate, you’ll understand exactly which programs stack, how to qualify, and how to get to the closing table with confidence and potentially zero money down.

Contact Ashley Now

Why Down Payment Assistance Matters in Conway, Arkansas

Conway is one of the fastest-growing, most opportunity-rich cities in Central Arkansas — but rising prices mean buyers need every advantage.

Down payment assistance can be the difference between:

  • Buying now vs. waiting years

  • Keeping savings intact vs. emptying your bank account

  • Getting the home you want vs. settling

Conway offers an incredible combination of affordable homes, USDA-eligible areas, and state-level grants that make it one of the BEST cities in Arkansas to buy with assistance.

Every Major Down Payment Assistance Program for Conway Homebuyers

1. ADFA Down Payment Assistance (Arkansas Development Finance Authority)

The state-backed ADFA program gives qualifying Conway buyers:

  • Up to $15,000 in down payment & closing cost assistance

  • Low, fixed-rate mortgages

  • Can be combined with FHA, VA, USDA, or conventional loans

This program works beautifully for first-time buyers moving through the Conway First-Time Homebuyer Guide .

2. USDA Zero-Down Home Loans (Large Portions of Conway Eligible!)

This is the most powerful financing tool in Faulkner County — and most buyers don’t know Conway qualifies.

Benefits:

  • 0% down payment

  • Low mortgage insurance

  • Income-friendly qualifications

  • Conway’s northern, western & outer areas are USDA-eligible

For full details, buyers can see the Conway USDA Homebuyer Guide 

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“Many buyers discover they qualify for zero-down financing through the USDA program, especially when shopping in North Conway or West Conway.”

3. FHA + Down Payment Assistance

FHA requires only 3.5% down, AND it combines extremely well with:

  • ADFA grants

  • Employer assistance

  • Local lender programs

  • Family gifts

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4. VA Loans — Zero Down for Active Duty & Veterans

If a buyer has military service, VA loans are unbeatable:

  • 0% down

  • No PMI

  • Low interest rates

  • Flexible credit guidelines

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“Veterans exploring zero-down options can review the Conway VA Homebuyer Guide .”

5. Employer Assistance Programs

Conway has major employers who sometimes offer:

  • Down payment grants

  • Forgivable loans

  • Matching contributions

Partners include hospitals, educational systems, and private-sector employers.

6. Closing Cost Assistance from Lenders

Many Conway lenders provide:

  • Lender credits

  • Rate-choice incentives

  • First-time buyer programs

  • Local promotions

Ashley guides buyers toward the best partners based on loan type and eligibility.

How Much Down Payment Help Do You Need?

Here’s the magic:

  • On a $250,000 Conway home, a 3.5% FHA down payment is $8,750

  • ADFA can cover all of it

  • USDA or VA can reduce down payment to zero

  • Additional lender credits can cover closing costs

Meaning:

💥 You can buy a home in Conway with as little as $0 out-of-pocket.

Where in Conway Are Buyers Using These Programs?

Best areas for USDA zero-down:

  • Beaverfork Lake area

  • West Conway (outer edges)

  • North Conway rural pockets

Best areas for FHA + ADFA buyers:

  • Midtown Conway

  • South Conway

  • Conway Acres

  • Chapel Creek

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“These neighborhoods are also featured in the Conway Neighborhoods & Communities Guide and Moving to Conway Guide

First-Time Homebuyers in Conway

First-time buyers represent one of the largest groups using assistance.

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“New buyers can also explore the Conway First-Time Buyer Guide .”

Why Working With Ashley Watters Gives You a Massive Advantage

Ashley isn’t just a Realtor®. She’s a mortgage-savvy strategist with more than 20 years of real estate and financing expertise.

She knows:

  • Which lenders offer the best DPA

  • Which homes qualify for USDA

  • How to structure offers when cash is limited

  • Which sellers are likely to contribute concessions

  • How to combine programs legally and effectively

This is how buyers win in a competitive market while Living in Conway

“She also leads the region’s most comprehensive Conway Homes for Sale Mega Hub an offers an amazing Conway Markeet Report

Frequently Asked Questions (FAQ)

Q: Can I buy a home in Conway with zero down?

Yes — USDA and VA financing both allow 0% down, and many Conway neighborhoods qualify.

Q: How much down payment assistance can I get?

Up to $15,000 from ADFA, plus potential lender credits.

Q: Can down payment assistance cover closing costs too?

Yes — several programs allow coverage for both down payment and closing costs.

Q: Do I have to be a first-time buyer?

Not always. Some grants do not require first-time status.

Q: Can I use multiple programs at once?

Yes — many buyers combine USDA or FHA with ADFA grants or lender credits.