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.

Homepath is forgiven after 5 years, so a homebuyer 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.

Homepath is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum FICO (program floor); lender overlays may be higher. A homebuyer education course is required, through Neighborhood Housing Services Oklahoma — HUD-approved housing counseling agency. NHS pre-purchase homebuyer education and one-on-one counseling required. Residency requirement: Property within NHS Oklahoma service area (Oklahoma City central-city neighborhoods); owner-occupied. Citizenship or immigration status: U.S. citizen or qualifying permanent resident. First-time homebuyer. Property within NHS Oklahoma service area (Oklahoma City central-city neighborhoods primarily). Income $66,500-$95,100 by household size (~120% AMI 1-4 person OKC MSA — workforce tier). 620 minimum FICO. Max purchase price $250,000. NHS pre-purchase education and one-on-one counseling required. 5-year affordability period.

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.

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.

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.

Homepath serves homebuyers purchasing in Oklahoma City, Oklahoma. The program targets specific areas: Oklahoma City NHS target neighborhoods (central-city revitalization areas).

Applications for Homepath go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply via NHS Oklahoma; first-come first-served per annual program allocation. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.