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REI Down Payment Assistance
REI Oklahoma partners with approved mortgage lenders to provide down payment and closing cost assistance coupled with first mortgage financing to eligible borrowers across the state of Oklahoma. Depending on the type of first mortgage loan a borrower obtains, the assistance will come in one of the following forms:
- Gift funds that do not have to be repaid.
- A 2nd mortgage loan that is paid back monthly over ten years.
- A forgivable 2nd mortgage loan which does not have to be repaid if the borrower lives in the home for seven years.
The process is simple! The borrower works directly with their lender to obtain the down payment assistance. This program should not lengthen the amount of time from application to closing.
REI Down Payment Assistance has helped nearly 9,100 Oklahoma families achieve homeownership.
For more information, please visit www.reidownpayment.org.
You may also email our housing team at email@example.com or call 800-658-2823.