Need Assistance?
Some household incomes may qualify for financial assistance for down payment and/or closing costs. Applicants for down payment assistance programs must complete our homebuyer education course. Research has shown that those who have completed the homebuyer education course are one-third less likely to fall behind within the first two years of closing their home.
(Source, NeighborWorks America)
PROGRAMS
Open Door First-Time Homebuyer
For eligible homebuyers, the program offers:
Home Path First-Time Home Buyers
Neighborhood Housing Services Oklahoma has partnered with WEOKIE Federal Credit Union a create a new First-Time Buyer Program. This program is lender-specific, meaning you must qualify for a first mortgage through WEOKIE Federal Credit Union.
FAQ
How do I qualify for Down Payment and Closing Cost Assistance?
Complete application for down payment assistance program you are applying for. Once you have completed the application, call our office to schedule a one-on-one appointment with our DPA coordinator. The DPA coordinator will review your application for completeness, collect the required documents, and review the DPA program with you.
After your initial appointment, NHSOKLA staff will review your DPA application and determine if you qualify for the program. This is typically done the same day or within 24 hours. If you do qualify for DPA, you will be required to attend a HUD certified Homebuyer Education workshop either in person or online through EhomeAmerica.
When should you attend the Homebuyer Education workshop?
The earlier the better! The workshop reviews all aspects of the home buying process, from getting pre-qualified with a lender, shopping for the right home for your family, homeowner’s insurance, and the home inspection. You’re guaranteed to learn something from the class, and the earlier you attend a workshop the more beneficial it will be to you as you are navigating through the home buying process.
The Certificate you will receive after attending the workshop is valid for 12 months.
How is household income calculated for the DPA program?
Income guidelines are based on the specific program you are qualifying for. For example if you are utilizing the City of Oklahoma City DPA it is based on household income of a family. NHSOKLA is required to calculate the income of anyone in the household who is over the age of 18, regardless of who is qualifying for the mortgage. The entity that provides the DPA funding (City of OKC, OHFA) determines what method will be used to calculate the household income. Other programs may be based on other factors.
What will the amount of DPA assistance be?
The maximum amount of DPA assistance is calculated case by case, based on specific qualifications, the program, and property location.
Do I have to be a First Time Homebuyer to Receive DPA assistance?
down payment assistance. (some restrictions apply)
Am I required to have an FHA mortgage loan?
No, you are not required to have an FHA mortgage loan. Our program accepts various types of mortgage financing, including conventional, VA, and USDA loans, as long as they meet our affordability and program guidelines.
While FHA loans are a common choice due to their lower down payment requirements and more flexible credit criteria, you are encouraged to explore all available options to determine which best fits your financial situation.
We recommend speaking with a participating lender or a housing counselor to understand your mortgage options
Do I have the pay the DPA assistance back?
It depends on the specific down payment assistance (DPA) program you receive. Some DPA programs are structured as grants that do not need to be repaid, while others may be deferred or forgivable loans that require repayment under certain conditions, such as selling or refinancing within a specific time frame.
Additionally, some programs operate as shared equity or silent second mortgages, which may require repayment when you sell the home or no longer use it as your primary residence. We encourage you to review the terms of your assistance and speak with a housing counselor or lender to understand how repayment, if any, applies to your situation.
You may qualify for $1,000 – $18,000 towards down payment and closing costs. For many people, the down payment and closing costs can be the difference between dreams and the reality of ownership.
To qualify for down payment assistance, certain requirements must be met.
Get Started: Create your free, online client account by clicking the Free Account link below.
Prefer Mail? You may contact our office at (405) 231-HOME to get started, and we will mail you a packet of forms to complete and return. Once the completed forms are processed, we will contact you to schedule an appointment.
The documents you will need during the application process are linked on this page.
(Note: Due to staffing limitations, creating your online account is the fastest way to start the process.)
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