TCHFA First Home Program

What is TCHFA First Home Program?

TCHFA First Home Program is a forgivable loan for homebuyers in Statewide, Oklahoma.

• The Tulsa County Home Finance Authority (TCHFA) First Home Program is a $25 million Mortgage Revenue Bond (MRB) program established December 2024 (2024A bonds) and continued as 2025A series. It provides first-time homebuyers in Tulsa County, Oklahoma with a below-market-rate first mortgage (FHA, VA, or USDA-RD) plus a 3.5% forgivable second mortgage DPA equal to 3.5% of the total note amount at 0% interest with no monthly payments. The DPA lien is forgiven in full on the last day of the 60th month (5 years) after closing, provided the home remains the borrower's principal residence and the loan is not refinanced, sold, or in default. Veterans (DD-214, non-dishonorable discharge) and buyers in federally designated targeted census tracts are exempt from the FTHB requirement. Lenders reserve loans through eHousingPlus; master servicer is Land Home Financial Services.
• 3.5% of total note amount as 0% interest forgivable second mortgage.
• Forgiven on last day of 60th month (5 years) after closing.
• FHA, VA, and USDA-RD eligible first mortgages.
• No program DTI overlay (AUS governs).
• Veterans exempt from first-time homebuyer requirement.
• Targeted area purchases exempt from FTHB requirement.
• eHousingPlus reservation portal.
• Funding comes from County - Mortgage Revenue Bond (MRB).

How much assistance does it provide?

TCHFA First Home Program provides assistance worth 3.5% of the purchase price, as set by the program.

• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

TCHFA First Home Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, refinance, transfer of title, default, or property no longer primary residence (within 5 years of closing).
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

TCHFA First Home Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

TCHFA First Home Program limits household income to $112,559.

• 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?

TCHFA First Home Program caps the purchase price at $544,232.

• Eligible property types include Single Family, Townhouse, PUD, and Condo.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

TCHFA First Home Program serves buyers purchasing in Statewide, Oklahoma.

• The program targets specific areas: Federally designated targeted census tracts in Tulsa County per Rev. Proc. 2024-8 (e.g., 0004.00, 0005.00, 0012.00, 0013.00, 0015.00, 0030.00, 0046.00, 0057.00, 0062.00, 0076.08, 0076.41, 0080.01, 0080.02, 0090.08, 0091.01).

How do you apply?

Applications for TCHFA First Home 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 providers; eHomeAmerica, HomeView, CreditSmart, MGIC Finally Home, NeighborWorks accepted.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through eHousingPlus portal (ehousingplus.com), 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.