FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma

What is FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma is a grant for homebuyers in Statewide, Oklahoma, administered by FHLBank Topeka (via participating member financial institutions).

• HSP+ provides up to $25,000 in down payment, closing cost, and purchase-related repair assistance as a grant to first-time homebuyers earning at or below 80% AMI purchasing a primary residence in designated high-cost or difficult development areas. In Oklahoma, qualifying counties are Bryan, Carter, Craig, and Texas. HSP+ cannot be stacked with other TurnKey programs. Administered through participating FHLBank Topeka member lenders with a 5-year Real Estate Retention Agreement.
• Up to $25,000 grant for properties in qualifying high-cost OK counties.
• No repayment if 5-year retention met.
• For down payment, closing costs, and purchase-related repairs.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from Federal Home Loan Bank Topeka Affordable Housing Program set-aside funds.

How much assistance does it provide?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma offers between $2,500 and $25,000 in assistance.

• Amounts are the program's published maximums, not an offer — FHLBank Topeka (via participating member financial institutions) determines any individual award.

Do you have to pay it back?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma is structured as a grant, so it is not repaid.

• Repayment is triggered by Prorated repayment required if property is sold, transferred, or refinanced within 5-year 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?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - 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 for the county of the purchased property. See 2026 TurnKey Income Limits 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?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma caps the purchase price as follows: No stated purchase price cap; first mortgage rate must not exceed 8.46% (Q2 2026).

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

Where does it apply?

FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma is a federal program, so it is not limited to Oklahoma.

• The program targets specific areas: Oklahoma qualifying counties: Bryan, Carter, Craig, Texas. Designated high-cost / non-metro difficult development areas per HUD.

How do you apply?

Applications for FHLBank Topeka Homeownership Set-Aside Program Plus (HSP+) - Oklahoma go through FHLBank Topeka (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 Any provider accepted by HUD, Fannie Mae, Freddie Mac, or NISHEC..

2. 2

   Contact FHLBank Topeka (via participating member financial institutions) to reserve funds

   Funds are reserved through First-come, first-served through participating FHLBank Topeka member institutions; member monthly cap $175,000; program open March 2-Sept 30, 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.