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405-232-0199

319 S.W. 25th St.

Oklahoma City, OK 73109

special 

Special Projects Housing Division

Contents

 


 

HOMEBUYER ASSISTANCE PROGRAM

Our homebuyer assistance programs provide down payment and closing cost Assistance (DPA) to income eligible individuals and families. There are two DPA programs available with separate designated funding areas. The OKC HOME Program covers up to $14,349. The Oklahoma/Canadian Counties HOME Program covers up to $14,249.

Some of the requirements for the two DPA Programs are similar, but they also have different requirements, amounts of assistance & funding areas. (Refer to Funding Maps below). All DPA Programs are subject to funding availability and are administered on a first come first serve basis.

Down payment and closing cost assistance (DPA) is provided in the form of a five-year forgivable 2nd Mortgage with no monthly payments. The 2nd Mortgage is forgiven after the buyer occupies the home as the primary residence for a five year affordability period. If the property is sold, sub-leased, refinanced or conveyed before the fifth year, a full or pro-rated recapture of the funds is required.

INCOME GUIDELINES - (Subject to change and applies to both DPA Programs)

 

Number

In Household

Income

Guidelines

 

Number

In Household

Income

Guidelines

1

$37,700

 

5

 $58,200

2

$43,100

 

6

 $62,500

3

$48,500

 

7

 $66,800

4

 $53,850

 

8

 $71,100

MAPS FOR DPA PROGRAMS

PROGRAM REQUIREMENTS - A few of the requirements are listed below. Please call for more detailed guidelines.

  • Must be US Citizen or have Permanent Resident Card
  • Must meet HUD Low/Moderate Household Income Guidelines (subject to change)
  • Must complete a HUD Certified Homebuyer Education Workshop (see schedule)
  • The Purchase Price may not exceed:
  1. Oklahoma City/County - $133,000 existing homes or $228,000 new construction
  2. Canadian County - $143,000 existing homes or $228,000 new construction
  • The programs do not require buyer to be 1st time homebuyer.
  • Property must be located within the designated funding areas
  • If seller or buyer does not currently occupy the property, it must be vacant for 3 months on the OKC HOME Program & 6 months for the OKCN HOME Program.
  • Must have the ability to meet credit and loan requirements to obtain a 1st mortgage
  • The HOME Student Rule excludes certain students attending an institution of higher education from participating independently (call for details)
  • Must invest 1% to 1.75% of their own funds toward the purchase
  • Property must pass Housing Quality Standard (HQS) Inspection prior to closing
  • If Buyer occupies the home as primary residence for the 5 Year Affordability Period, the loan is 100% forgiven
  • If home is sold or property ceases to be primary residence before Affordability Period is met, Buyer may be required to pay back the assistance in full or in part.
  • Properties within FEMA designated 100 Year Flood Zone and Flood Ways do not qualify
  • Certain other environmental requirements apply. Assistance is subject to availability funds. Other program restriction and guidelines apply.

HOUSING QUALITY STANDARDS INSPECTION

An inspection will be performed by CAA of OKC to determine what repairs are needed to meet the Housing Quality Standards.

  • After repairs are made, another inspection will be performed to ensure project meets Housing Quality Standards prior to closing
  • Federal regulations governing all lead based paint issues must be met including all local codes

HUD sets the Housing Quality Standards. These Standards are required to be met on every house or project federally assisted. CAA of OKC performs Housing Quality Inspections at no charge to clients. Homebuyers should not use the Housing Quality Inspections as a substitute for a full house inspection conducted by a licensed professional.

HOMEBUYER EDUCATION WORKSHOPS

Community Action Agency of Oklahoma City and Oklahoma/Canadian Counties, Inc.

hosts FREE Homebuyer Education Workshops. Call (405) 232-0199 EXT 3201 to enroll in our upcoming workshop.

 

Workshop Location:  Community Action Agency

319 SW 25th Street, Oklahoma City, OK 73109

2017 Homebuyer Workshop Schedule

Friday, 8:30am to 3:30pm

 

JAN 13 FEB 17 MARCH 10 MARCH 24 APRIL 21
April 28 MAY 12 MAY 26 JUNE 9 JUNE 23
JULY 14 JULY 28 AUG 11 AUG 25 SEPT 15
SEPT 29 OCT 20 OCT 27 NOV 17 DEC 15

 

HOUSING COUNSELING PROGRAM

Services include pre-purchase, post-purchase, delinquency resolution & loss mitigation counseling. The Housing Counselor’s role is to help the client understand the responsibilities of home ownership and how to make housing & financial choices. In a default or foreclosure situation the Housing Counselor will act as a mediator between the homeowner and the mortgage company to develop a resolution for homeowners that qualify for a resolution. If you are currently having difficulty paying your mortgage payment or perceive future difficulty please contact the Special Projects Division Housing Counselor to talk about your situation and possible solutions. 232-0199 ext. 3202 or This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.


ACQUISTION REHABILITATION AND RENTAL PROGRAM

There is a shortage of quality affordable homes in the affordable price range, therefore CAA of OKC established an Acquisition Rehabilitation Program to increase the availability of affordable quality homes to income-eligible individuals and families. CAA of OKC purchases homes in need of repair located within the Oklahoma & Canadian Counties service area. CAA of OKC contracts with approved contractors to complete repairs and then leases the home to an income-eligible tenant.


Special Projects Contact Information:

Division Director/Housing Counselor This email address is being protected from spambots. You need JavaScript enabled to view it.

This email address is being protected from spambots. You need JavaScript enabled to view it. Housing Specialist   This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.
Housing Counselor This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.
Housing Assistant   This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.


Community Action Community Action Agency Of Oklahoma City and Oklahoma / Canadian Counties, Inc.
319 SW 25th Street
Oklahoma City, OK 73109
Phone (405) 232-0199 extension 3201
Fax (405) 232-9074