First-Time Homebuyer Programs
Congratulations on your decision to purchase your first home!
Most commonly, people take advantage of the Federal Housing Administration’s first-time homebuyers program. The FHA guarantees a portion of home loans, which frees lenders to broaden their acceptance standards. With FHA backing, borrowers can qualify for loans with as little as 3.5% down.
Oklahoma Housing Finance Agency (OHFA) is a great option for first-time homebuyers, OHFA offers down payment assistance of up to 3.5%.
Who qualifies for First Time Homebuyers Programs?
Must NOT be a current homeowner
A minimum credit score of 640
Some credit and income requirements apply depending on the type of first-time homebuyer program you choose.
Contact your First American Mortgage loan officer to learn how we can help you achieve your dream of homeownership.