Are you thinking of buying your first home in Oklahoma? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of Oklahoma provides free grant money for its residents who are buying home first time and need help with the down payment and closing costs. This money comes in the form of state grants. This is free money that shouldn’t be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the grant programs that the State of Oklahoma provides.
Oklahoma First Time Home Buyer Grants
The agency in Oklahoma that provides assistance to the home buyers is The Oklahoma Housing Finance Agency. There is one grant available, depending upon your income: OHFA Advantage. The program is specifically designed for first time home buyers who do not have the funds for a down payment or closing costs. To find out the details of this program, please visit the Oklahoma Housing Finance Agency website page specifically describing it. You can do that by clicking on this link.
OHFA Advantage offers 30 year, fixed rate, low interest home loans with 3.5% down payment assistance to homebuyers, statewide.
To qualify for OHFA Advantage (state bond money), contact a participating lender. Homebuyers must meet income, purchase price and credit score guidelines. The maximum purchase price is $214,925 and a minimum credit score of 640. For more information, call the Homebuyer Hotline at 1-888-937-1122.
The contact infor for the Oklahoma Housing Finance Agency is:
100 NW 63rd St, Suite 200
Oklahoma City, OK, 73116
Phone: (405) 848-1144
Federal First Time Home Buyer Grants
Besides the state programs, there are federal funds and grants available to the home buyers in Oklahoma through the Homes and Communities program of the United States Department of Housing and Urban Development. On their website you’ll find complete grant information, application forms, description of available funds, as well as many other helpful tools.
Every potential home buyer should investigate what they have to offer. You can visit the website by going here: US Dept. of Housing and Urban Development. Also, there is a website that has a complete list of all grant programs available through the United States Federal Government: Grants.gov. You should plan to spend the required time investigating to determine how many individual grants they may qualify for. You can visit the website by going to Grants.gov and do a search for more information about the grants.
Other First Time Home Buyer Grants in Oklahoma
In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to this website.
Here is the contact information for the HUD office in Oklahoma:
Tulsa Field Office
Williams Center Tower II
Two West Second Street
Tulsa, OK 74103
Phone: (918) 292-8900
Fax: (918) 292-8993
There are also these local programs:
Grady County Homebuyer Assistance Program (HAP) (405) 224-5211
Lawton Homebuyers Assistance Program (HAP) (580) 581-3347
Midwest City Homebuyers Assistance Program (HAP) (405) 739-1221
Multi Counties Community Action Resource & Development (CARD) Opportunity to Own Assistance Program (OAP) (918) 341-5000
Multi Counties Ki Bois Community Action Foundation Inc Home Buyer Program (HBP) (918) 967-9050
Multi County Community Action Project of Tulsa County Inc. First Time Home Buyer’s Program (FTHP) (918) 382-3241
Oklahoma City Down Payment/Closing Cost Program (DPCC) (405) 297-2904
Oklahoma Community Action Agency of Oklahoma City and Oklahoma/Canadian Counties Inc Home Buyer Program (HBP) (405) 232-0199
Oklahoma Housing Authority of the Peoria Tribe of Indians of Oklahoma Down Payment Assistance Program (DAP) (918) 542-1873
Tulsa Housing Partners of Tulsa, Inc. First Time Homebuyers Program (FTHP) (918) 581-5907