HomePath First-Time Buyer Program

HomePath First-Time Buyer Program

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.

Key Highlights about the HomePath Program

• Must be first-time homebuyer, or haven’t owned a home in the past 3 years
• Subject property can be located anywhere in Oklahoma
• Property to be your primary residence
• Property to be move-in ready
• WEOKIE FCU provides first mortgage, NHSOKLA provides 15-year second mortgage equal to 20% of purchase price, giving you 100% financing and eliminating PMI
• Interest rate for 2nd mortgage set at 0.5% higher than first mortgage rate
• Homebuyer Education and Pre-Purchase Housing Counseling required
• WEOKIE provides a grant of up to $6,000 to towards closing costs
• Maximum sales price – $200,000
• The borrower’s total annual income must not exceed 120% of the AMI
• Credit score minimum of 620
• All household members must provide proof of U.S. Citizenship or Resident Alien Status
• Available anywhere in the State of Oklahoma

For more detailed information and to apply for the program visit the website www.weokie.org/homepath