Help With Home Ownership – Down Payment

Owning a home is a goal for most families, but many face the obstacle of lack of funds for down payment and closing costs. 1st Gold is available statewide and offers down payment and closing cost assistance. Oklahoma has Targeted Areas and Non-Targeted Areas designated by the U.S. Department of Treasury in Washington, D.C., using census statistics. Mortgage loans made in Non-Targeted Areas require the borrower be a first-time home buyer. A first-time home buyer cannot have any home ownership interest in his primary residence for the last three years. Mortgage loans made in Targeted Areas do not have the first-time home buyer requirement.

If you do not have funds available for down payment and closing costs, then 1st Gold is for you.

Example: loan amount x down payment assistance percentage = down payment assistance amount

You will need to contact a lender who participates in OHFA Advantage. There are over 100 lenders statewide to choose from. To find a lender who offers 1st Gold, visit or call (405) 419-8207 or (800) 256-1489, Ext. 207.

Homes that can be purchased with 1st Gold include:
♦ single-unit dwellings ♦ condominiums
♦ manufactured homes ♦ patio homes

Many loan products are available with 1st Gold: FHA, VA, Section 184 (for y Native Americans), Conventional, Home Choice (for persons with disabilities) and 1% Option.

Your eligibility for 1st Gold is determined by a lender. You must credit
qualiffy, and income and purchase price limits apply. The lender will explain the lending process and determine the type of loan product that would be suitable for you. For a list of partrcipating visit or call (405) 419-8207 or (800) 256-1489 ext 207.

1st Gold funds are available two to three times per year. Your lender will know when funds are available.

What are the requirements and benefits?
♦ Meet state income guidelines.
♦ Meet purchase price guidelines.
♦ Meet guidelines for loan products.
♦ Receive benefit of below market interest rate & down payment assistance.

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