press releases

SPRINGDALE, Ark. – To support borrowers in reaching their homeownership goals, United Federal Credit Union (United) has partnered with the Arkansas Development Finance Authority (ADFA) to offer mortgage assistance for qualified applicants. The ADFA Down Payment Assistance Program (DPA) can provide up to $15,000 for down payment and closing cost assistance. ADFA's Down Payment Assistance (DPA) Loan is a second mortgage with a 10-year term. It carries the same interest rate as the "ADFA Move-Up" Loan Program.

United operates six branches in Arkansas, including Fort Smith, Van Buren, Springdale, and Rogers. As an official trusted lender of the program, United mortgage advisors and the operational support team are prepared to help residents get started on their homeownership journey.

“Partnering with the Arkansas Development Finance Authority is a huge win for our communities as we join forces to help more people achieve their dream of homeownership,” said Jason Hedden, United’s Mortgage Production Manager in Arkansas. “The journey to becoming a first-time homebuyer can be daunting, especially with the median home price in Arkansas at over $230,000. However, with the incredible support of United’s mortgage advisors and the Down Payment Assistance program, people will find the path to homeownership much smoother and more accessible. The future looks bright for aspiring homeowners in our state, and we’re here to make those dreams a reality.”

The Down Payment Assistance program aims to make homeownership more accessible for low to moderate-income families and individuals across Arkansas and is available to qualifying applicants of the "ADFA StartSmart" or "ADFA Move-Up" first mortgage programs.

“United is committed to helping first-time homebuyers realize their dreams of owning their own home,” said Andrew Clarkson, Vice President National Mortgage Production. “Our team is dedicated to going above and beyond, providing extra time and effort to ensure first-time homebuyers feel confident and supported throughout the entire process. We are proud to offer yet another program to give United’s mortgage advisors in multiple states another tool to help members get into their first home.”

In 2023, United announced its participation in down payment assistance programs in Michigan and Nevada, and helped 39 members with down payment assistance in 2024 alone. United continues to explore ways to participate in similar programs in other states the credit union serves.

For more information on the Down Payment Assistance program in Arkansas, interested individuals can contact a United mortgage advisor.

About United

United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future. United consists of more than 194,000 Member/owners worldwide and manages assets in excess of $4 billion. Its corporate office and main branch are in St. Joseph, Mich., with additional branches in Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio, and Pennsylvania. Federally insured by NCUA. Equal opportunity lender. Equal housing lender. For more information visit UnitedFCU.com