REI Home100 Government Loan Program - Gift

REI Home100 Government Loan Program - Gift is a grant for homebuyers in Statewide, Oklahoma. REI Oklahoma's Home100 Government Gift variant pairs a 30-year fixed FHA, VA, or USDA-RD first mortgage with a 3.5% non-repayable DPA gift (grant). No second lien is recorded. Higher income limits and a clean repayment-free structure make this REI's most flexible Government channel for higher-income borrowers using FHA/VA/USDA financing. Up to 3.5% of the first-mortgage amount as a non-repayable gift (grant) on a 30-year fixed FHA, VA, or USDA-RD first mortgage. No second lien recorded, no repayment, no forgiveness term. Funding comes from Nonprofit and TBA.

REI Home100 Government Loan Program - 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 Government Loan Program - Gift is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 FICO minimum (660/680 FICO for higher AMI tier and AUS-friendly pricing). A homebuyer education course is required, through HUD-approved homebuyer education provider. 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 FHA/VA/USDA product overlays. 640 FICO minimum for FHA/VA/USDA Government loans; 660 FICO recommended for some AUS scenarios; 680 FICO for highest-AMI tier. Owner-occupied primary residence only. Higher income limits apply because the Government Gift channel uses non-bond TBA funding without bond-program income restrictions.

REI Home100 Government Loan Program - Gift limits household income to $166,425. 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 Government Loan Program - Gift caps the purchase price as follows: Subject to FHA, VA, or USDA-RD loan limits and area appraised value; no separate program purchase-price cap. Eligible property types include Single-family detached, Townhome, Condominium (FHA-approved), PUD, and 2-4 unit (FHA only). New construction is eligible. Manufactured homes are eligible.

REI Home100 Government Loan Program - 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 Government Loan Program - Gift serves homebuyers purchasing in Statewide, Oklahoma.

Applications for REI Home100 Government Loan Program - 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.