Neighborhood Housing Services Oklahoma

Down Payment Assistance Program
Neighborhood Housing Services Oklahoma (NHSOKLA) currently offers financial assistance for first time homebuyers (or those who have not owned a home in the past three years). This money helps make home purchases possible when you may lack sufficient cash to meet your primary lender's (bank or other financial institution) requirements for down payment or closing costs OR you need to reduce the amount of your first mortgage to meet the lender's debt-to-income requirements. Through the use of federal and local government funds, the program helps you, the homebuyer, bridge cash gaps in financing. The level of funding is determined by your specific financial need. There are two programs available at NHSOKLA for down payment assistance:

City of Oklahoma City DPA Loan - Buyer must meet specific criteria such as the purchase must be within a certain city area, family size and income amount. This loan does not require payments unless the home is sold and is forgivable in total after a specific amount of time. OHFA DPA Assistance for Cleveland, Logan, & Pottawatomie Counties - Buyer must meet specific criteria such as the purchase must be within a certain city area, family size and income amount. In either case, NHSOKLA conducts one-on-one counseling with clients regarding pre- and post-purchase issues and foreclosure prevention and intervention. Participants in the Down Payment Assistance Program must attend this very informative class. If you receive an NHSOKLA loan, your loan will be serviced in-house, often with clients coming to our office monthly to make payments. This enables us to establish a closer relationship with you and to monitor your progress with payments and credit management.

*Funds for these programs very from time to time. Please call us for specific details regarding availability.