Oklahoma first-time homebuyer grants and down payment assistance (2026)

Gold or Dream: choosing between OHFA’s two loans

Both products carry the same 3.5% assistance. The difference is the first mortgage underneath ⁠²⁠⁴.

• Gold is funded with tax-exempt mortgage revenue bonds. It comes in FHA, VA, USDA-RD, HUD Section 184 and Freddie Mac HFA Advantage versions (up to 97% loan-to-value). Because of the bond rules, it has lower income and price limits. Outside targeted census tracts you must also be a first-time buyer, meaning you had no ownership interest in a primary residence in the three years before you apply ⁠⁴.
• Dream has no first-time requirement, so you may own another property as long as the OHFA home becomes your primary residence. It allows FHA, VA, USDA-RD and Freddie Mac HFA Advantage loans. FHA and Freddie Mac versions can finance a duplex if you live in one unit ⁠²⁠⁴.

Gold carries a lower rate. On OHFA’s Oct. 19, 2026 rate sheet, Gold Government with 3.5% assistance was 7.000% and Dream Government was 8.250%. Dream “ZERO” loans with no assistance were 7.750% ⁠⁵. Rates change daily, so ask your lender for the day’s figure.

Gold for teachers, first responders and state employees. Gold buyers who work at an Oklahoma public or accredited private school, serve in law enforcement, fire service or EMS (volunteers included), or work for an Oklahoma state agency get a rate 0.125% below the Gold rate. On Oct. 19, 2026 that was 6.875% on a government loan ⁠⁴⁠⁵. Everything else about Gold still applies.

How the 3.5% silent second is repaid

The assistance equals 3.5% of the total loan amount, not the price. It is recorded as a subordinate mortgage behind your first loan ⁠⁴. You owe the full amount when any of these happens ⁠³⁠⁴:

• the first mortgage matures or is paid off;
• you sell or refinance the home;
• ownership transfers, or the home stops being your primary residence.

Nothing is forgiven over time. OHFA will look at hardship cases one at a time ⁠³. Your lender can reimburse your earnest money, credit report and appraisal fee from the assistance, and the home must stay your primary residence ⁠⁴.

Gold has one more cost to know about. Because it is bond-financed, you may owe federal recapture tax if you sell within nine years and your income has risen well above the program limits and you make a gain on the sale. All three must be true, and the tax can never exceed 50% of the gain ⁠⁴. Dream does not carry this rule.

OHFA county income and price limits in force for 2026

OHFA’s posted income exhibits are labeled 2025 and were released Sept. 1, 2025. They were still the current links on OHFA’s site on Oct. 20, 2026 ⁠². Gold counts the income of every household member age 18 or older, whether or not they are on the loan. That includes a spouse who is not borrowing ⁠⁴. Dream counts only the borrowers’ qualifying income ⁠⁴.

Scroll the table sideways to see every column.

Statewide, Gold Government ranges from $87,120 (Sequoyah) to $99,900 (Alfalfa) for 1-2 people and up to $114,947 (Woodward) for 3 or more. The Freddie Mac 115% figure runs from $85,330 to $114,885 ⁠⁶⁠⁷⁠⁸.

Purchase price caps are the same in every county. Gold allows $349,525, or $427,198 in a targeted area (caps effective June 1, 2022). Dream allows $356,362 on government loans and $453,100 on Freddie Mac loans ⁠²⁠⁶⁠⁸. Dream Government’s income cap is $150,000 in all 77 counties ⁠².

To find your county’s figure, open the exhibit for your loan type from OHFA’s DPA products page. Some counties are entirely non-targeted. In 20 counties, including Oklahoma, Tulsa and Cleveland, only listed census tracts are targeted, so your lender must look up the exact tract for the address ⁠⁴⁠⁶.

Credit, debt-to-income and the approved-lender rule

OHFA requires a 640 minimum middle credit score ⁠³⁠⁴. Its lender rules, effective since 2023, set the following for loans approved by automated underwriting ⁠⁴:

• FHA, VA and USDA, 640-679: total debt-to-income (DTI) up to 45%.
• Score of 680 or more: DTI from 45.01% to 50%.
• Manufactured homes: 660 score and 45% DTI.

Manually underwritten loans are tighter. FHA is capped at 31% housing and 43% total, VA at 41%, USDA at 34%/44%, and Freddie Mac HFA Advantage at 45% with a 660 score. Each needs two months of reserves ⁠⁴. OHFA does not accept ITIN loans ⁠⁴.

You cannot apply to OHFA directly. A loan officer at a lender on OHFA’s Approved Lenders list reserves the loan in OHFA’s system, uploads the file for OHFA review and closes it ⁠⁴⁠⁹.

Education: OHFA’s MyDPA video and the homebuyer course

Every Gold and Dream borrower must watch OHFA’s three-minute MyDPA video, which explains that the assistance is a second lien, and then submit the form under it ⁠⁴. On Freddie Mac HFA Advantage loans, a full homebuyer education course is also required before the note date if every borrower is a first-time buyer. The course must meet national standards or come from a HUD-approved counseling agency ⁠⁴. OHFA’s homebuyer page points to Freddie Mac’s CreditSmart Homebuyer U as one option ⁠¹. The county and city programs below each require their own pre-closing course from a HUD-approved provider ⁠¹³⁠¹⁴⁠¹⁵.

The 5% Housing Stability grant for new homes

The Oklahoma Housing Stability Program pays builders to construct homes for sale. Its consumer piece, the Housing Stability Program 100% Grant Gift DPA, gives the buyer 5% of the purchase price at 0% with no payments ⁠¹⁰⁠¹¹. It is secured by a deed restriction. It is forgiven 1/36 a month and fully forgiven after 36 months as your primary residence. If you move out sooner, you repay the unforgiven balance ⁠¹¹. It works with any government or conventional loan from an approved lender. It can be layered on OHFA’s 3.5% assistance, but not on a Dream ZERO loan. Cash buyers are not eligible ⁠¹¹. OHFA lists purchase price limits from $215,122 for a one-bedroom home to $371,477 for four or more bedrooms ⁠¹⁰.

The catch is the house. Only homes built with Oklahoma Housing Stability Program or Housing Trust Fund money qualify, and OHFA posts a searchable list of them ⁠¹⁰⁠¹¹. OHFA paused new builder applications under the Urban Set-Aside on Aug. 7, 2026 and under the Rural Increased Housing set-aside on Sept. 21, 2026. Rural Set-Aside Homebuilder applications run through Nov. 19 ⁠¹⁰. The buyer grant itself was still offered on Oct. 20, 2026, but supply depends on which funded homes are for sale.

Oklahoma County, Tulsa County and Oklahoma City programs

• Oklahoma County MCC (open). The Oklahoma County Home Finance Authority issues Mortgage Credit Certificates at a 50% credit rate, capped at $2,000 a year. The credit is taken against your federal income tax. You need a 640 score and a 30-year fixed FHA, VA or conventional loan, and you and your spouse must be first-time buyers unless you are a qualifying veteran or buy in a targeted tract ⁠¹²⁠¹³. Income limits are $97,700 for 1-2 people and $112,355 for 3 or more ($117,240 and $136,780 in targeted tracts). The price cap is $544,232, or $665,173 in targeted tracts ⁠¹³. MCCs can be issued on loans closing through Dec. 31, 2027 ⁠¹³. The county’s Turnkey PLUS grant has been temporarily suspended since April 15, 2026 ⁠¹². OHFA’s own homebuyer pages list no MCC.
• Tulsa County First Home (waitlist). The Tulsa County Home Finance Authority pays 3.5% of the note as a 0% second mortgage. It is forgiven on the last day of the 60th month if you still live in the home. It comes with a 6.350% FHA, VA or USDA first mortgage and needs a 620 score ⁠¹⁵. Limits updated Sept. 3, 2026 are $102,335 for 1-2 people and $117,685 for 3 or more ($114,000 / $133,000 targeted), with a $566,354 price cap ($692,211 targeted). The 2025A bond funds are reserved, and the administrator now offers only a waitlist for fallout. You need a signed sales contract to get on it ⁠¹⁵.
• Oklahoma City DPA (HOME funds). The city lends up to $18,000 for down payment and closing costs, plus up to $5,000 to buy down the rate, as a deferred forgivable loan inside its program boundaries ⁠¹⁴. After the first 60 days, 1/120 is forgiven for each month you live there, so it is fully forgiven after 10 years. If you sell sooner, the city recaptures the unforgiven share from net proceeds ⁠¹⁴. The household must be at or below 80% of area median income. The city’s posted limits run from $54,750 for one person and $78,150 for four to $103,200 for eight ⁠¹⁴. Other rules ⁠¹⁴:
  • You contribute 1% of the price.
  • Housing costs are capped at 34% of income and total debt at 43%.
  • The home must be outside the 100-year flood zone and priced at or below 95% of the area median sale price.
  • You need a class from a HUD-certified counselor.
  • There is no first-time requirement.

Applying for OHFA assistance, step by step

1. Check the limits for your county

   Open the Gold or Dream exhibit for your loan type on OHFA’s DPA products page. If the Gold figures are too low, compare Dream ⁠²⁠⁶.

2. Pick an OHFA-approved lender

   Search OHFA’s Approved Lenders list by city or county. Ask about Gold, Dream and the Housing Stability grant if the home is a state-funded new build ⁠⁹⁠¹⁰.

3. Get pre-approved at 640 or higher

   Bring the income and asset papers your lender asks for. For Gold, also report the income of every adult in the household and complete OHFA’s three-year Oklahoma Residence History Form if you buy outside a targeted area ⁠⁴.

4. Sign a purchase contract under the price cap

   Your lender confirms the census tract and reserves your rate and assistance in OHFA’s system ⁠⁴.

5. Complete the MyDPA video and any required course

   Finish before closing and keep the certificate for your lender ⁠⁴.

6. Wait for OHFA’s review and approval letter

   Your lender uploads a review package, and OHFA issues an approval letter and a notice of the silent second. If anything changes, OHFA must re-approve before closing ⁠⁴.

7. Close, move in and file your papers

   Keep the promissory note and subordinate mortgage for the day you sell or refinance. Gold buyers also keep the recapture tax notice ⁠⁴⁠⁹.

If a lender turns you down, you can apply with another approved lender. OHFA’s homeownership staff answer questions at 405-419-8207 ⁠⁹. Programs in other states are compared on the first-time homebuyer grants page.