Choctaw Homebuyer Advantage Program (CHAP)

What is Choctaw Homebuyer Advantage Program (CHAP)?

Choctaw Homebuyer Advantage Program (CHAP) is a first mortgage for homebuyers in Hugo, Oklahoma, administered by Choctaw Home Finance Corporation.

• The Choctaw Homebuyer Advantage Program (CHAP) offers home loans to eligible Choctaw Nation tribal members with no maximum income limits; applicants must qualify on credit and debt ratios. Loan terms run up to 30 years and funds are first-come, first-served subject to availability. Applicants apply through Choctaw Home Finance for a referral to an approved lender.
• Home loan with no maximum income limit.
• Term up to 30 years.
• Available to Choctaw Nation tribal members.
• Pairs with Choctaw down payment second mortgage.
• Funding comes from Choctaw Nation of Oklahoma / Choctaw Home Finance.

Do you have to pay it back?

Choctaw Homebuyer Advantage Program (CHAP) is a first mortgage and is repaid under the terms set by Choctaw Home Finance Corporation.

• Repayment is triggered by Repayable first mortgage, term up to 30 years.
• 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?

Choctaw Homebuyer Advantage Program (CHAP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Choctaw Homebuyer Advantage Program (CHAP) sets its income limit as follows: No maximum income limit.

• 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?

Choctaw Homebuyer Advantage Program (CHAP) can be used for Single Family.

Is there eligibility for specific groups?

Choctaw Homebuyer Advantage Program (CHAP) names American Indian and Alaska Native buyers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Choctaw Homebuyer Advantage Program (CHAP) serves buyers purchasing in Hugo, Oklahoma.

How do you apply?

Applications for Choctaw Homebuyer Advantage Program (CHAP) go through Choctaw Home Finance Corporation, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Choctaw Home Finance Corporation to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   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.