See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 5, 2026
Homebuyer Programs in Stillwater, OK (2026)
Stillwater is the home of Oklahoma State University and seat of Payne County, with a 2026 median sale price near $258,000. The City of Stillwater Homebuyers Assistance Program offers up to $5,000 as a 0% interest deferred forgivable second mortgage with a 7-year occupancy condition for first-time buyers at or below 80% AMI. Statewide programs layer on top: OHFA's 3.5% DPA, the OHFA Dream grant (3.5% with no recapture), and REI Gift100 (3.5%-5% gift). Educators qualify for OHFA 4Teachers and first responders for OHFA SHIELD with reduced rates plus DPA. Stillwater Habitat for Humanity also serves Payne County buyers, with Habitat homes featuring no down payment and monthly payments that typically run $525-$600 including escrow. Combined with FHA, VA, and USDA loans, eligible Stillwater buyers can stack significant assistance.
City Programs in Stillwater
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| City of Stillwater Homebuyers Assistance Program | Silent Second Mortgage | Up to $5,000 toward down payment and/or closing costs | Yes | View → |
- Type:
- Silent Second Mortgage
- Amount:
- Up to $5,000 toward down payment and/or closing costs
- First-time only:
- Yes
State Programs in Oklahoma
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| OHFA 4Teachers Program (Oklahoma) | Grant | 3.5% of total loan amount plus reduced interest rate | Yes | View → |
| OHFA Dream Program (Oklahoma) | Grant | 3.5% of total loan amount | No | View → |
| OHFA Homebuyer Down Payment Assistance (Oklahoma) | Silent Second Mortgage | 3.5% of total loan amount | No | View → |
| OHFA SHIELD Program (Oklahoma) | Grant | 3.5% of total loan amount plus reduced interest rate | No | View → |
| REI Gift100 / Home100 Down Payment Assistance | Grant | 3.5% to 5% of the first mortgage amount | No | View → |
- Type:
- Grant
- Amount:
- 3.5% of total loan amount plus reduced interest rate
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- 3.5% of total loan amount
- First-time only:
- No
- Type:
- Silent Second Mortgage
- Amount:
- 3.5% of total loan amount
- First-time only:
- No
- Type:
- Grant
- Amount:
- 3.5% of total loan amount plus reduced interest rate
- First-time only:
- No
- Type:
- Grant
- Amount:
- 3.5% to 5% of the first mortgage amount
- First-time only:
- No
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Stillwater Habitat for Humanity Homeownership Program | Forgivable Loan | Affordable home with no down payment, no closing costs; monthly payments typically run $525-$600 including escrow | No | View → |
- Type:
- Forgivable Loan
- Amount:
- Affordable home with no down payment, no closing costs; monthly payments typically run $525-$600 including escrow
- First-time only:
- No
How to Apply
Check your eligibility. The City of Stillwater Homebuyers Assistance Program requires household income at or below 80% of HUD area median income (AMI) for Payne County and first-time buyer status. OHFA programs require a 640 minimum credit score.
Complete a HUD-approved homebuyer education course. Acceptable providers include the Oklahoma Homebuyer Education Association (OHEA) HUD-aligned curriculum and the City of Stillwater's own course. The class must be completed within 6 months prior to assistance.
Contact the City of Stillwater Development Services to begin the application for the City DPA program.
Get pre-approved with an OHFA-approved or REI-approved lender. They can pair the City DPA with an OHFA Dream grant or REI Gift100 gift on top of a 30-year fixed first mortgage.
Find a home in Stillwater. The City of Stillwater program requires the property to be inside city limits. With a median sale price near $258,000, most homes fit under OHFA's purchase price caps.
Submit your full application package and complete loan counseling.
Close on your home and remain owner-occupant for the full 7 years for the City DPA to be fully forgiven without prorated repayment.