Only $630,000 Remains in Tulsa County Homebuyer Assistance Funds

 

Only $630,000 remains available through the Tulsa County Home Finance Authority program, creating a limited opportunity for qualified first-time homebuyers who need help with the upfront cost of purchasing a home.

The remaining funds are available on a first-come, first-served basis. Once the money has been reserved, this opportunity will close.

What the program currently offers

Qualified borrowers may receive a 6.35% fixed interest rate on a 30-year FHA, VA or USDA first mortgage, along with down payment assistance equal to 3.5% of the total first-mortgage note amount.

The assistance is structured as a five-year forgivable second mortgage. If the program’s requirements are met throughout the five-year period, the assistance may be forgiven.

Current program highlights include:

• 6.35% fixed interest rate
• 3.5% down payment assistance
• Five-year forgivable second mortgage
• FHA, VA and USDA financing options
• Minimum 620 FICO score
• Household income limits and other program requirements apply

Available in targeted and non-targeted areas

The remaining funds may be used for eligible purchases in both targeted and non-targeted areas of Tulsa County.

Buyers and their spouses must generally be first-time homebuyers. Certain exceptions may apply to veterans and buyers purchasing in designated targeted areas.

Why buyers should act now

With only approximately $630,000 remaining, the program could run out of funds quickly. Reservations are processed on a first-come, first-served basis, and availability can change without notice.

Buyers who are currently looking for a home, preparing to make an offer or waiting because of down payment concerns should review their eligibility now. Realtors with potential buyers should also begin the conversation before the buyer is under contract.

Could this program help you purchase a home?

Credit score, household income, first-time buyer status, property location and loan eligibility must be reviewed before funds can be reserved.

Oklahoma Mortgage Group can help buyers understand the program, compare it with other available financing options and determine whether it may be the right fit.

With limited funds remaining, now is the time to explore the opportunity.

Program terms, interest rates and fund availability are subject to change. Additional borrower, income, property and loan requirements apply.

Call/text Mike at 918-361-1550, email Mike@omghomeloans.com, or click here to book a phone chat to discuss next steps

Location: Tulsa, OK, USA

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