First-Time Homebuyer Programs

Congratulations on your decision to purchase your first home!

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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.

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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.

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Contact your First American Mortgage loan officer to learn how we can help you achieve your dream of homeownership.