REI Down Payment Assistance


REI Down Payment Assistance provides closing cost assistance to eligible borrowers through partnerships with lenders across the state. The programs are developed for people who have good jobs and the ability to re-pay a loan, but have not been able to save for the down payment or closing costs on a home.

REI Down Payment Assistance invests in Oklahoma’s future by providing housing opportunities to low income individuals and families. The statewide REI Gift100 Program provides a competitive first mortgage and down payment/closing cost assistance to eligible mortgagors. The down payment is in the form of a gift that you are not required to pay back and there will not be second liens or deed restrictions against your property. This program can be used with the following loan types:

  • FHA
  • VA
  • Rural Development
  • Fannie Mae HFA Preferred
  • Freddie Mac HFA Advantage

Rate/term refinance on any of the above loan products.

Structure: The funds may be used to fund up to 100% of the Borrower’s cash requirement to close, including the down payment, closing costs, pre-paid items and other related mortgage loan fees and expenses. The following is a breakdown of the assistance available:

  • FHA, VA & Rural Development
    • Gift of 3.5 or 4.0% of the total loan amount
  • Fannie Mae HFA Preferred & Freddie Mac HFA Advantage
    • Gift of 3.5% or 4.0% of the total loan amount

You may use the REI Gift100 approved lender of your choice.  If you are using a lender that is not familiar with the program or is not approved, please have them contact Dena Sherrill, Director of Housing at 800-658-2823 or

For more information visit

You may also email Dena Sherrill or Jeremy Layman, or call 800-658-2823.