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Get Matched Free →City of Oklahoma City First-Time Homebuyers Program
Funding status: Active
How much assistance
Up to $18,000 plus an additional $5,000 to buy down the interest rate
0% interest deferred forgivable second mortgage. Fully forgiven after 10 years of owner-occupancy. Prorated repayment may be required if the home is sold, refinanced, leased, or no longer occupied as the primary residence within the 10-year affordability period.
Eligibility
- Income limits: Household income at or below 80% of HUD area median income (AMI) for Oklahoma County, varies by household size.
- Purchase price limit: $238,000
- First-time buyer required: Yes — Must be a first-time homebuyer (have not owned a primary residence in the last 3 years).
- Geographic restrictions: Property must be located within the city limits of Oklahoma City.
- Homebuyer education required: Yes
How to Apply for City of Oklahoma City First-Time Homebuyers Program
Apply through the Community Action Agency of Oklahoma City at (405) 232-0199. Buyer must contribute 1% to 1.75% of purchase price from own funds. Front-end DTI capped at 35%, back-end at 50%. HUD-approved homebuyer education required prior to assistance.
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