Your next move has options.
Explore programs that could help with your down payment, home loan or renovation.
Help with upfront costs.
Down payment and closing cost assistance. Open a program to explore eligibility and repayment.
OHFA DREAMStatewide • 3.5% of the total loan amount • Repeat buyers welcome
OHFA offers government and conventional options for an Oklahoma primary residence.
DREAM Government: published qualifying-income cap of $150,000 and purchase-price cap of $356,362. DREAM Conventional: county income limits and a $453,100 purchase-price cap. Generally a 640+ middle credit score; lender and loan requirements also apply.
Repayment: standard OHFA assistance is a 0% silent second lien. Repayment is generally triggered by sale, refinance, leaving the home as your primary residence or paying off the first mortgage.
OHFA GOLDStatewide • 3.5% assistance • Generally for first-time buyers
Generally requires first-time-homebuyer status, with an exception for designated targeted areas. Household-income limits vary by county and family size. Purchase-price, credit and loan requirements apply.
The standard assistance is a repayable second lien. Ask an OHFA-approved lender about repayment and any recapture-tax considerations.
OHFA public-service optionsSchool employees, first responders & state employees • Special rates
OHFA 4 Schools, Shield and State Employees options serve eligible Oklahoma school employees, law enforcement, firefighters, EMS personnel and state-agency employees.
Occupational requirements and OHFA qualifications apply. Ask a participating lender about current special rates and the 3.5% assistance option.
REI Home100Statewide • Up to 5% assistance • First-time or repeat buyers
REI Oklahoma offers assistance for eligible buyers purchasing a primary residence through an approved lender.
Depending on the loan product, assistance may be a gift, forgivable second mortgage, repayable second mortgage or a combination. Ask your lender to identify the exact structure and compare total costs.
Timing: REI says participating lenders should be able to close within a traditional mortgage timeframe; your lender must confirm your schedule.
OKC HOME assistanceEligible OKC areas • Up to $18,000 + possible rate buydown
Need-based assistance for down payment and closing costs, with up to another $5,000 for an interest-rate buydown when needed for affordability. No first-time-buyer requirement.
Income limits, eligible boundaries and homebuyer education apply. Assistance is a forgivable second mortgage with a 10-year affordability period. Early sale, rental, transfer or refinance can trigger repayment.
Allow time for program review and property inspections. Contact the administrator to confirm funding and lender coordination.
Oklahoma & Canadian Counties HOMEEligible county locations • Up to $18,999 assistance
Community Action Agency provides assistance to income-eligible buyers purchasing within the county program’s service area. The exact property location determines which local program may apply.
Assistance is a forgivable second mortgage with no monthly payments and a five-year affordability period. Early sale, rental, transfer or refinance can require repayment.
Ask the administrator to confirm boundaries, funding, lender requirements and processing time.
Buying qualifying new construction.
Explore program-supported homes and the builders behind them.
Oklahoma Housing Stability ProgramEligible homes only • 5% of the purchase price
OHFA’s Housing Stability Program assistance applies to qualifying homes built with eligible OHFA-administered state-program financing. A newly built home does not automatically qualify.
The current standalone grant/gift assistance is forgiven over 36 months of primary occupancy. Leaving early requires repayment of the remaining prorated amount.
Combining HSP with OHFA’s 3.5% assistance may be possible under separate enhanced-assistance rules. Have your lender confirm the home, product combination and repayment terms.
The official HSP page lists awarded builder/developer applications under “Prior Awards.” An award does not guarantee a particular home is available or eligible. Confirm the address and lender’s HSP participation with OHFA.
Low-down-payment mortgages.
Loan options that may reduce your down payment. These are mortgages, not grants.
FHA purchase mortgageGovernment-insured • Down payment as low as 3.5%
FHA-insured mortgages offer a low-down-payment path for eligible buyers purchasing a primary residence. FHA insures the mortgage; an approved lender makes the loan.
Credit, property, loan-limit and underwriting requirements apply. FHA mortgage insurance and closing costs also affect the overall cost. Ask the lender whether you qualify for the minimum down payment and whether assistance can be combined with the loan.
Fannie Mae HomeReadyConventional • As little as 3% down • Income-qualified buyers
HomeReady is a conventional mortgage option for eligible borrowers with qualifying income at or below 80% of area median income for the property’s location.
A down payment as low as 3% may be available. Credit, property and education requirements apply. Mortgage insurance is generally required with less than 20% down.
Ask a mortgage lender whether it offers HomeReady and request a comparison with FHA, Home Possible and any assistance options.
Freddie Mac Home PossibleConventional • As little as 3% down • Income-qualified buyers
Home Possible offers low-down-payment financing for eligible borrowers whose qualifying income does not exceed 80% of area median income.
Credit, property and education requirements apply. Mortgage insurance is generally required with less than 20% down. Ask a mortgage lender whether it offers Home Possible and which costs and requirements apply to you.
HUD Section 184Eligible Native borrowers • Low-down-payment financing
For eligible American Indian and Alaska Native borrowers enrolled in a federally recognized tribe. HUD publishes a 2.25% down payment for loans over $50,000 and 1.25% for loans under $50,000.
Eligible-area, property and underwriting requirements apply. Ask a Section 184-approved lender about purchase, construction or rehabilitation options and potential assistance combinations.
USDA Guaranteed home loansEligible rural areas • No down payment for qualifying buyers
Financing for an eligible primary residence in a USDA-eligible rural area. Household-income and loan-approval requirements apply.
Some communities outside the urban core may qualify. Zero down does not necessarily mean zero cash to close. Ask about closing costs, fees and the exact property’s eligibility.
Financing a fixer-upper.
Explore a mortgage that includes eligible renovation costs.
FHA 203(k) renovation mortgagePurchase + eligible rehabilitation • FHA-insured financing
An FHA 203(k) mortgage can combine the purchase of a home and eligible rehabilitation costs into one mortgage. It may also be available for eligible renovations when refinancing.
Limited and Standard options: the appropriate route depends on the type and scope of repairs. Lender review, contractor documentation and program requirements apply; some projects require an FHA-approved 203(k) consultant.
FHA’s low-down-payment framework may apply, but the lender must calculate your required investment for the purchase and rehabilitation transaction. Ask about mortgage insurance, eligible repairs, contractor approval, renovation deadlines and the closing schedule.
Start early: confirm that your lender actually originates 203(k) loans before making an offer based on renovation financing.
Good questions for your lender.
Compare the full picture before choosing a program.
Will I have to repay the assistance?
Ask for the exact structure in writing: gift, grant, forgivable lien or repayable second mortgage. Confirm what happens if you sell, refinance, rent out the home or move before the required period ends.
Which option has the lowest overall cost?
Request a comparison of cash to close, interest rate, APR, monthly payment, mortgage insurance, fees and total cost over the time you expect to keep the loan. Less cash upfront does not automatically mean the lowest overall cost.
Can I combine programs and still close on time?
Have the lender and administrator confirm permitted combinations, funding availability, required education and inspections. For renovation loans, also confirm contractor approvals and project deadlines. Get a realistic closing timeline before agreeing to a contract date.