REI Home100 Conventional Loan Program - Freddie Mac - Gift

REI Home100 Conventional Loan Program - Freddie Mac - Gift is a grant for homebuyers in Statewide, Oklahoma. REI Oklahoma's Home100 Conventional - Freddie Mac - Gift variant pairs a Freddie Mac HFA Advantage first mortgage with a 3.5% non-repayable DPA gift (grant). No second lien is recorded. The gift is delivered through REI's TBA program and is intended for borrowers up to 140% AMI, providing a clean structure with no recapture or forgiveness term. Up to 3.5% of the first-mortgage amount as a non-repayable gift (grant) on a Freddie Mac HFA Advantage conventional first mortgage. No repayment required, no second lien recorded. Funding comes from Nonprofit and TBA.

REI Home100 Conventional Loan Program - Freddie Mac - Gift is structured as a grant, so it is not repaid. Repayment is triggered by None — gift/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.

REI Home100 Conventional Loan Program - Freddie Mac - Gift is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 FICO minimum (680 FICO for AUS-friendly HFA Advantage pricing tiers). A homebuyer education course is required, through HUD-approved homebuyer education provider; Freddie Mac CreditSmart Homebuyer U accepted on HFA Advantage. Residency requirement: Property must be located in Oklahoma and used as borrower's primary residence. Citizenship or immigration status: U.S. citizen or qualified permanent/non-permanent resident alien per Freddie Mac HFA Advantage guidelines. 640 FICO minimum, 680 FICO recommended for best Freddie Mac HFA Advantage AUS findings. Borrower qualifying income up to 140% AMI (Freddie Mac HFA Advantage Above Median Income tier). Owner-occupied primary residence only.

REI Home100 Conventional Loan Program - Freddie Mac - Gift limits household income to $142,650. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

REI Home100 Conventional Loan Program - Freddie Mac - Gift caps the purchase price as follows: Subject to Freddie Mac conforming loan limit and area appraised value; no separate program purchase-price cap. Eligible property types include Single-family detached, Townhome, Condominium (warrantable), PUD, and 2-unit. New construction is eligible. Manufactured homes are eligible.

REI Home100 Conventional Loan Program - Freddie Mac - Gift 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.

REI Home100 Conventional Loan Program - Freddie Mac - Gift serves homebuyers purchasing in Statewide, Oklahoma.

Applications for REI Home100 Conventional Loan Program - Freddie Mac - Gift go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lender reservation through REI Oklahoma's eHousingPlus origination portal. 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.