Opendoor

Opendoor is a deferred second loan for homebuyers in Oklahoma City, Oklahoma. NHS Oklahoma Opendoor — middle-income/workforce-tier down payment assistance program for buyers in OKC NHS target revitalization neighborhoods. Larger assistance amounts than NHS Homepath; not strictly FTHB-restricted. Up to ~$25,000 in down payment and closing cost assistance for buyers in NHS Oklahoma target neighborhoods. 0% deferred 5-year forgivable second mortgage. Targets workforce/middle-income buyers in OKC central-city revitalization neighborhoods. Administered by Neighborhood Housing Services Oklahoma, NeighborWorks affiliate. Funding comes from Local, City, NeighborWorks, CDBG, and HOME.

Opendoor 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.

Opendoor is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Open to repeat buyers — not strictly FTHB. On credit, the program states: 620 minimum FICO; lender overlays may be higher. A homebuyer education course is required, through Neighborhood Housing Services Oklahoma — HUD-approved housing counseling agency. NHS pre-purchase education plus one-on-one counseling required. Residency requirement: Property within NHS Oklahoma target neighborhoods (OKC central-city); owner-occupied. Citizenship or immigration status: U.S. citizen or qualifying permanent resident. Property within NHS Oklahoma target neighborhoods (Oklahoma City central-city revitalization areas). Income $78,000-$89,100 by household size (workforce tier ~140% AMI 2-3 person OKC). 620 minimum FICO. Max purchase price $250,000. Owner-occupied primary residence. NHS pre-purchase education and one-on-one counseling required. 5-year affordability period.

Opendoor limits household income to 140% of the area median income, which varies by county and household size. Household income $78,000 (2 person) to $89,100 (3 person) — workforce/middle-income tier ~140% AMI OKC MSA. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Opendoor 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.

Opendoor 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.

Opendoor serves homebuyers purchasing in Oklahoma City, Oklahoma. The program targets specific areas: Oklahoma City NHS Opendoor target neighborhoods — central-city revitalization corridors.

Applications for Opendoor 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 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.