OHFA Gold Loan Program

What is OHFA Gold Loan Program?

OHFA Gold Loan Program is a grant for homebuyers in Statewide, Oklahoma.

• OHFA Gold is OHFA's non-bond TBA (To Be Announced MBS) first-mortgage program offering a 3.5% down payment and closing-cost assistance grant. Because it is not bond-funded, there is no IRS first-time-homebuyer rule and no federal recapture tax. The grant equals 3.5% of the first-mortgage amount, never has to be repaid, and is layered with a 30-year fixed FHA, VA, USDA-RD, or conventional HFA Preferred / HFA Advantage first mortgage. Gold is OHFA's primary repeat-buyer program.
• 3.5% down payment / closing-cost assistance grant on a 30-year fixed-rate non-bond TBA first mortgage. No first-time-homebuyer requirement and no federal recapture tax. Repeat buyers, move-up buyers, and homeowners selling and re-buying are eligible.
• Funding comes from State and TBA.

How much assistance does it provide?

OHFA Gold Loan Program provides assistance worth 3.5% of the purchase price, as set by the program.

• Buyer contribution: No published borrower minimum contribution; loan-product overlays may apply.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

OHFA Gold Loan Program is structured as a grant, so it is not repaid.

• Repayment is triggered by None — grant and no repayment required.
• The assistance is recorded in 1 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

OHFA Gold Loan Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

OHFA Gold Loan Program limits household income to $136,780.

• 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?

OHFA Gold Loan Program caps the purchase price at $427,198.

• Eligible property types include Single-family detached, Townhome, Condominium (warrantable), 2-4 unit (per first-mortgage product), and PUD.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

OHFA Gold Loan Program 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?

OHFA Gold Loan Program serves buyers purchasing in Statewide, Oklahoma.

How do you apply?

Applications for OHFA Gold Loan Program 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 HUD-approved homebuyer education provider; Framework or eHome America online course accepted.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Lender reservation through OHFA's eHousingPlus origination portal, 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.