City of Lawton First-Time Homebuyers Program

What is City of Lawton First-Time Homebuyers Program?

City of Lawton First-Time Homebuyers Program is a forgivable loan for homebuyers in Lawton, Oklahoma, administered by City of Lawton Housing and Community Development Department.

• The City of Lawton First-Time Homebuyers Program helps low- to moderate-income first-time buyers purchase a home within Lawton city limits with up to $14,999.99 in down payment and closing cost assistance. The assistance is split 50% repayable loan and 50% 0% interest deferred forgivable loan conditioned on continued owner-occupancy. The program is funded with federal CDBG or HOME dollars.
• Up to $14,999.99 in down payment and closing cost assistance.
• 0% interest on the forgivable half.
• Existing and new-construction homes eligible.
• Multiple property types.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from CDBG or HOME Investment Partnerships Program (federal HUD).

How much assistance does it provide?

City of Lawton First-Time Homebuyers Program offers up to $15,000 in assistance.

• Amounts are the program's published maximums, not an offer — City of Lawton Housing and Community Development Department determines any individual award.

Do you have to pay it back?

City of Lawton First-Time Homebuyers Program is a forgivable loan, so the balance is forgiven once the program's conditions are met.

• Repayment is triggered by 50% repaid in small monthly payments; 50% forgivable conditioned on continued owner-occupancy.
• The assistance is recorded in Subordinate (second) lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Lawton First-Time Homebuyers Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Lawton First-Time Homebuyers Program limits household income to 80% of the area median income, which varies by county and household size.

• Total household gross income <=80% AMI for Lawton/Comanche County, adjusted by household size. Dollar amounts in the Downloads section; confirm with HCD.
• The limit applies to total household income, not only the borrower&rsquo;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?

City of Lawton First-Time Homebuyers Program can be used for Single Family, Patio Home, Condo, and Townhouse.

• New construction is eligible.

Where does it apply?

City of Lawton First-Time Homebuyers Program is a federal program, so it is not limited to Oklahoma.

How do you apply?

Applications for City of Lawton First-Time Homebuyers Program go through City of Lawton Housing and Community Development Department, 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 Homeowner Education Class; completion required before assistance..

2. 2

   Contact City of Lawton Housing and Community Development Department to reserve funds

   Funds are reserved through First-come, first-served; property inspected and approved by HCD staff., 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.