Down Payment Assistance Program

Through the HOME Investment Partnerships Program (HOME) funded by the U.S. Department of Housing and Urban Development (HUD), the City provides down payment and closing costs assistance (DPA) to income-eligible families and individuals (refer to chart below). The HOME program does not have a first-time homebuyer requirement; however, the assistance is only available for homes purchased within the program boundaries. The assistance provided is based on the prospective buyer's need of up to $18,000.00, with an additional $5,000.00 reserved to buy down the interest rate, if needed to make the loan payments affordable. Homebuyers seeking DPA must receive homebuyer education, for which there is no charge.

To view program guidelines and a DPA map of approved geographic locations, click here (PDF).

For an application or to schedule a Homebuyer Education Class, call the Community Action Agency at (405) 232-0199 or Neighborhood Housing Services at (405) 231-4663.

DOWN PAYMENT ASSISTANCE PROGRAM INCOME LIMITS

The US Housing and Urban Development (HUD) Home Investment Partnerships (HOME) Program requires the City to set-aside a minimum of 15% of its annual formula grant funding for Community Housing Development Organizations (CHDOs) to build housing that is affordable for low and moderate income families and individuals.

The City currently has three CHDOs: Jefferson Park Neighbors Association (405-301-0411), Positively Paseo (405-557-0700) and Neighborhood Housing Services (405-231-4663). The CHDOs are currently building new single-family homes in the Village on Walnut at NE 26th and Walnut and the Culbertson’s East Neighborhood near NE 12th and Fonshill. All buyers must be able to get a mortgage from a local lender and also qualify for the City’s Down Payment Assistance program to purchase these affordable homes.