Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage)

What is Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage)?

Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage) is a second mortgage for homebuyers in Hugo, Oklahoma, administered by Choctaw Home Finance Corporation.

• The Choctaw Nation assists tribal members with a second mortgage to help cover the costs of purchasing a home, where allowed by the client's first-loan program and participating lender guidelines. The assistance has a term of up to 5 years, credit guidelines must be met, and funds are first-come, first-served subject to availability.
• Second mortgage for down payment and closing costs.
• No income limit stated.
• Available to Choctaw Nation tribal members.
• Pairs with CHAP.
• Funding comes from Choctaw Nation of Oklahoma / Choctaw Home Finance.

Do you have to pay it back?

Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage) is a second mortgage and is repaid under the terms set by Choctaw Home Finance Corporation.

• Repayment is triggered by Repayable second mortgage with term up to 5 years.
• The assistance is recorded in Second 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 Nation Down Payment / Closing Cost Assistance (Second Mortgage) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage) sets its income limit as follows: No income limit stated for this program.

• 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 Nation Down Payment / Closing Cost Assistance (Second Mortgage) can be used for Single Family.

Is there eligibility for specific groups?

Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage) 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 Nation Down Payment / Closing Cost Assistance (Second Mortgage) serves buyers purchasing in Hugo, Oklahoma.

How do you apply?

Applications for Choctaw Nation Down Payment / Closing Cost Assistance (Second Mortgage) 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.