State Program
OHFA Down Payment Assistance Grant | Oklahoma Housing 2025
OHFA Down Payment Assistance Grant provides up to 3.5% of loan and low‑rate financing to help Oklahoma residents secure or retain affordable housing.
Program Details
OHFA Down Payment Assistance Grant is administered by the Oklahoma Housing Finance Agency (OHFA) or a
partnering local entity to promote affordable homeownership and neighborhood revitalization statewide.
Eligible borrowers benefit from up to 3.5% of loan plus fixed‑rate first mortgages and free homebuyer
education. The assistance can be layered with FHA, VA, USDA, or conventional loans and, in many cases, OHFA’s
Mortgage Credit Certificate for up to $2,000 in annual federal tax savings. 2025 income and purchase‑price
limits follow HUD’s Area Median Income (AMI) guidelines and are updated annually. Properties must be used as
primary residences and meet minimum property standards. Certain down‑payment assistance loans are forgiven
after a defined occupancy period, reducing long‑term liability. Funds are reserved through OHFA‑approved
lenders and disbursed at closing to lower out‑of‑pocket costs.
partnering local entity to promote affordable homeownership and neighborhood revitalization statewide.
Eligible borrowers benefit from up to 3.5% of loan plus fixed‑rate first mortgages and free homebuyer
education. The assistance can be layered with FHA, VA, USDA, or conventional loans and, in many cases, OHFA’s
Mortgage Credit Certificate for up to $2,000 in annual federal tax savings. 2025 income and purchase‑price
limits follow HUD’s Area Median Income (AMI) guidelines and are updated annually. Properties must be used as
primary residences and meet minimum property standards. Certain down‑payment assistance loans are forgiven
after a defined occupancy period, reducing long‑term liability. Funds are reserved through OHFA‑approved
lenders and disbursed at closing to lower out‑of‑pocket costs.
Eligibility Requirements
- Household income ≤ 2025 OHFA limits for the county and household size.
- Purchase price (or after‑rehab value) ≤ OHFA/city cap for location and property type.
- Minimum 640 credit score; maximum debt‑to‑income ratio 45 % (exceptions per insurer).
- Completion of HUD‑approved homebuyer education prior to closing.
- Property must be a 1‑4 unit primary residence, condo, or manufactured home on a permanent foundation.
- Purchase price (or after‑rehab value) ≤ OHFA/city cap for location and property type.
- Minimum 640 credit score; maximum debt‑to‑income ratio 45 % (exceptions per insurer).
- Completion of HUD‑approved homebuyer education prior to closing.
- Property must be a 1‑4 unit primary residence, condo, or manufactured home on a permanent foundation.
Program Benefits
- **Up to 3.5% of loan** applied toward down payment, closing costs, rehabilitation, or principal reduction.
- Fixed 30‑year interest rates, often below market (program dependent).
- Ability to combine with OHFA Mortgage Credit Certificate for $2,000 annual federal tax credit.
- Free default‑prevention counseling and post‑purchase resources.
- Fixed 30‑year interest rates, often below market (program dependent).
- Ability to combine with OHFA Mortgage Credit Certificate for $2,000 annual federal tax credit.
- Free default‑prevention counseling and post‑purchase resources.
How to Apply
1. Review county income and purchase‑price charts on ohfa.org.
2. Secure pre‑approval with an OHFA‑participating lender and reserve program funds.
3. Complete HUD‑approved homebuyer education online or in person.
4. Execute a purchase agreement; lender finalizes underwriting and locks OHFA rate.
5. Attend closing—OHFA funds are wired to cover eligible costs. Occupy the home within 60 days.
2. Secure pre‑approval with an OHFA‑participating lender and reserve program funds.
3. Complete HUD‑approved homebuyer education online or in person.
4. Execute a purchase agreement; lender finalizes underwriting and locks OHFA rate.
5. Attend closing—OHFA funds are wired to cover eligible costs. Occupy the home within 60 days.
Program Overview
Category
State Program
Maximum Assistance
$3.5
Official Program Website
Information about this program is provided as a resource and may be subject to change. Always verify details with the official program website.
Important Note
Program availability, terms, and requirements may vary by lender and location. Additionally, programs are subject to change based on policy updates and market conditions. Always consult with a mortgage professional for the most current information and to determine eligibility for specific programs.