Homepath

What is Homepath?

Homepath is a deferred second loan for homebuyers in Oklahoma City, Oklahoma.

• NHS Oklahoma Homepath — workforce-tier down payment assistance for first-time homebuyers in Oklahoma City NHS service neighborhoods. 0% deferred 5-year forgivable second mortgage administered by NHS Oklahoma, NeighborWorks affiliate.
• Up to ~$10,000 in down payment and closing cost assistance for first-time homebuyers in Oklahoma City NHS service neighborhoods. 0% deferred 5-year forgivable second mortgage administered by Neighborhood Housing Services Oklahoma, a HUD-approved housing counseling agency and NeighborWorks chartered member.
• Funding comes from Local, City, NeighborWorks, CDBG, and HOME.

Do you have to pay it back?

Homepath is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Pro rata recapture if owner sells, refinances, or vacates within 5-year affordability period.
• The assistance is recorded in 2nd 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?

Homepath is open to buyers who will live in the home as their primary residence.

What are the income limits?

Homepath limits household income to 120% of the area median income, which varies by county and household size.

• Household income $66,500 (1 person) to $95,100 (4 person) — workforce tier ~120% AMI OKC MSA.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 4.
• 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?

Homepath caps the purchase price at $250,000.

• Eligible property types include Single-family detached, condo, townhouse, 1-2 unit owner-occupied.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Homepath names veterans, active-duty service members, reservists and National Guard members, and surviving spouses 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?

Homepath serves buyers purchasing in Oklahoma City, Oklahoma.

• The program targets specific areas: Oklahoma City NHS target neighborhoods (central-city revitalization areas).

How do you apply?

Applications for Homepath go through the administering agency, 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 Neighborhood Housing Services Oklahoma — HUD-approved housing counseling agency. NHS pre-purchase homebuyer education and one-on-one counseling required..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply via NHS Oklahoma; first-come first-served per annual program allocation, 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.