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City of Moore CDBG-DR Down Payment Assistance Program

Administered by:

City of Moore (administered by Neighborhood Housing Services Oklahoma)
· City · Forgivable Loan

Funding status: Active

How much assistance

Up to $40,000 toward down payment and closing costs

5-year forgivable loan, forgiven 1/5 each year of owner-occupancy. Home must serve as the primary residence for the full loan term.

Eligibility

  • Income limits:
    Household income must be between 50% and 80% of Cleveland County area median income (AMI).
  • First-time buyer required: No
  • Geographic restrictions:
    Property must be located in the City of Moore tornado-impacted area as defined by the Disaster Relief Appropriations Act funding.
  • Homebuyer education required: Yes

How to Apply for City of Moore CDBG-DR Down Payment Assistance Program

Step 1: Apply through Neighborhood Housing Services Oklahoma at (405) 231-4663. Loan counseling is required. Buyer must contribute 1% of the purchase price, have 3 months of mortgage payments in the bank at closing, and DTI must be no more than 42%.

Notes

Funded through CDBG-Disaster Relief tied to the 2013 EF5 tornado. Verify current funding availability and that the property is in the eligible area before promising assistance.

Cities Where This Program Is Available