FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma

What is FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma is a grant for homebuyers in Statewide, Oklahoma, administered by Federal Home Loan Bank of Dallas (via participating member financial institutions).

• FHLB Dallas's Homebuyer Equity Leverage Partnership (HELP) provides grants of up to $20,000 for Oklahoma properties to help first-time homebuyers with down payments and closing costs. Homebuyers must earn at or below 80% AMI, contribute $500 of their own funds, complete homebuyer counseling, and retain the home for 5 years. Funds are disbursed through FHLB Dallas member financial institutions. Oklahoma is outside the primary district; members have a $375,000/year combined cap for out-of-district properties.
• Up to $20,000 grant for down payment and closing costs.
• No repayment if 5-year retention met.
• Available statewide through FHLB Dallas member lenders.
• 2026 allocation of $17 million.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from Federal Home Loan Bank of Dallas, allocated annually; 2026 allocation $17M across 5 offerings.

How much assistance does it provide?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma offers up to $20,000 in assistance.

• Buyer contribution: Homebuyer must contribute a minimum of $500 of their own funds toward down payment or closing costs.
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Dallas (via participating member financial institutions) determines any individual award.

Do you have to pay it back?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma is structured as a grant, so it is not repaid.

• Repayment is triggered by Prorated repayment required if homeowner does not retain property for 5 years (sale, transfer, refinance within retention period).
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% of AMI as defined by HUD. See FHLB Dallas Median Incomes document.
• 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?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma caps the purchase price as follows: No stated purchase price cap; reasonable market rate required on mortgage.

• Eligible property types include Single Family, Condo, and Townhouse.
• New construction is eligible.

Where does it apply?

FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma is a federal program, so it is not limited to Oklahoma.

How do you apply?

Applications for FHLB Dallas Homebuyer Equity Leverage Partnership (HELP) - Oklahoma go through Federal Home Loan Bank of Dallas (via participating member financial institutions), 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 HUD-approved homebuyer counseling program required.

2. 2

   Contact Federal Home Loan Bank of Dallas (via participating member financial institutions) to reserve funds

   Funds are reserved through Applications submitted by FHLB Dallas member institutions; member cap $150,000 per offering; funds available until exhausted or December 31, 2026, 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.