Central Oklahoma Habitat for Humanity Affordable Homeownership Program

What is Central Oklahoma Habitat for Humanity Affordable Homeownership Program?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program is a first mortgage for homebuyers in Oklahoma City, Oklahoma, administered by Central Oklahoma Habitat for Humanity (COHFH).

• Central Oklahoma Habitat for Humanity builds energy-efficient, affordable homes for limited-income families in the OKC metro and sells them at cost with a 0% interest or below-market affordable mortgage. There is no traditional down payment; instead homebuyers contribute sweat equity hours, complete financial and homeownership education, and make affordable monthly mortgage payments. Income must be between a minimum of $49,000 and a maximum based on household size up to 80% AMI. Credit score must be 600+.
• No down payment.
• 0% or below-market interest rate mortgage.
• Homes sold at cost (~$165,000).
• Energy-efficient new construction.
• Financial literacy education.
• Funding comes from Charitable donations, volunteer labor, corporate sponsors, ReStore proceeds.

Do you have to pay it back?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program is a first mortgage and is repaid under the terms set by Central Oklahoma Habitat for Humanity (COHFH).

• The assistance is recorded in first position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

• Maximum household income: 1-person $82,080; 2 $93,840; 3 $105,600; 4 $117,240; 5 $126,720; 6 $136,080; 7 $145,450; 8 $154,800. Minimum combined household income at least $49,000.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• 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?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program caps the purchase price at $165,000.

• Eligible property types include Single Family.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Central Oklahoma Habitat for Humanity Affordable Homeownership Program serves buyers purchasing in Oklahoma City, Oklahoma.

• The program targets specific areas: Oklahoma City metro and 18 surrounding communities. Active build at Cornerstone Creek (N. Morgan Rd & 150th St, NW OKC).

How do you apply?

Applications for Central Oklahoma Habitat for Humanity Affordable Homeownership Program go through Central Oklahoma Habitat for Humanity (COHFH), 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 Habitat Homeownership College and workshops administered by COHFH.

2. 2

   Contact Central Oklahoma Habitat for Humanity (COHFH) to reserve funds

   Funds are reserved through Application-based; rolling intake; PDF or digital application submitted to COHFH office, 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.