With more than 200 sunny days per year and views that range from sprawling forests to wide-open plains, and even mountains, it’s easy to see why people are moving to Oklahoma. Even better, the state has a number of statewide and local first-time homebuyer programs to provide financial assistance and education on the process. Read on to learn about what resources are available to you.
Who Qualifies as a First-Time Homebuyer in Oklahoma?
Following federal guidelines, Oklahoma defines a first-time homebuyer as anyone who has not owned a home within the last three years. Previous homeowners qualify if enough time has lapsed since homeownership, and often, this requirement is waived for active military and veterans.
Statewide First-Time Homebuyer Programs
Oklahoma Housing Finance Agency
Through the Homebuyer Down Payment Assistance program, the Oklahoma Housing Finance Agency (OHFA) provides up to 3.5 percent of your approved mortgage amount that is allocated first to the down payment and second to the closing costs. Income requirements are set based on household size, and the maximum property value of the home cannot exceed $453,100. Visit the OHFA website to learn more and connect with a qualified lender.
First-Time Homebuyer Programs by Location
First-time homebuyers looking to settle in the city of Lawton should know about the city’s financial assistance program that awards up to $15,000, half of which is forgivable. Approved applicants are required to meet income and property value requirements, and must complete an educational homeownership course. Applicants are responsible for securing primary funding through a private lender. Visit Lawton’s First-Time Homebuyer Program for more information and to apply.
The Homebuyer Assistance Program of Midwest City offers a grant in the form of a deferred loan of up to $5,000. First-time homebuyers who meet the income requirements and can provide $500 or 1.5 percent of the purchase price toward the down payment (whichever is higher) can apply. Funds must be applied in the order of down payment, closing costs, prepaid items and, finally, a principal reduction. For more information, visit Midwest City’s Housing Resources page.
Oklahoma City and Oklahoma and Canadian Counties
Capital of the Sooner State, Oklahoma City offers homebuyer assistance through the Community Action Agency (CAA). For homes within the city limits, applicants can receive up to $14,999 ($14,249 for residents in Oklahoma County and Canadian County) toward down payment and closing costs. This is in the form of a second mortgage that is fully forgiven after seven years of living in the home (five years for Oklahoma and Canadian counties). For more information, visit the CAA website.
Through Housing Partners of Tulsa Inc., qualified first-time homebuyers are eligible for up to $5,000 toward down payment and closing costs of a home in the city of Tulsa. To apply for the financial assistance, shoppers must first complete an eight-hour Homebuyer Education course, and one-on-one financial counseling is available. For more information and to register for the course, visit the Tulsa Housing website.
Settle Down in Oklahoma
Regardless of where you’re looking to settle down, there are plenty of new homes to choose from in cities across Oklahoma. Visit for the friendliness of the residents (Oklahoma City is one of the most amicable in the country!) and stay for the scenic views and calm lifestyle, which can make a great scene for retirement or raising a family.
Be sure to follow NewHomeSource on social media for more tips and tricks on the home-buying experience!
The links on this site were researched by NewHomeSource. This is as cohesive a list as possible. Individual homebuyers should contact entities to fully understand requirements and processes.
Other Oklahoma Resources
Mia Zozobrado joined Builders Digital Experience (BDX) in 2019 as a content writer. A graduate of Southwestern University with a degree in English, Mia is passionate about the written word and making connections. Outside of work, Mia also serves on the Board of Directors for the Writers’ League of Texas.