CARD Homebuyer Down Payment Assistance Program

What is CARD Homebuyer Down Payment Assistance Program?

CARD Homebuyer Down Payment Assistance Program is a grant for homebuyers in Catoosa, Oklahoma, administered by Community Action Resource & Development, Inc. (CARD).

• Community Action Resource & Development (CARD), a community action agency serving northeastern Oklahoma, offers down payment and closing cost assistance to income-qualified first-time homebuyers. Assistance is up to 5% of the purchase price (max $5,000) for new construction or existing homes in rural Rogers, Wagoner, and Washington counties and the city limits of Catoosa, Claremore, Coweta, and Bartlesville.
• Up to 5% of purchase price / $5,000 in down payment and closing cost assistance.
• New construction and existing homes eligible.
• Covers multiple NE Oklahoma counties.
• Homebuyer education provided.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from Federal funds administered by the community action agency (HUD/CDBG-style; varies by city/county).

How much assistance does it provide?

CARD Homebuyer Down Payment Assistance Program offers up to $5,000 in assistance.

• Amounts are the program's published maximums, not an offer — Community Action Resource & Development, Inc. (CARD) determines any individual award.

Do you have to pay it back?

CARD Homebuyer Down Payment Assistance Program is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

CARD Homebuyer Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

CARD Homebuyer Down Payment Assistance Program sets its income limit as follows: Applicants must meet HUD income guidelines; dollar amounts not published online and vary by county. Confirm with CARD.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

CARD Homebuyer Down Payment Assistance Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

CARD Homebuyer Down Payment Assistance Program is a federal program, so it is not limited to Oklahoma.

How do you apply?

Applications for CARD Homebuyer Down Payment Assistance Program go through Community Action Resource & Development, Inc. (CARD), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through CARD Homebuyer Education class..

2. 2

   Contact Community Action Resource & Development, Inc. (CARD) to reserve funds

   Funds are reserved through Contact CARD housing department for current availability (varies by city/county)., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.