1st Gold

What is 1st Gold?
Owning a home is a goal for most families. More often families face the obstacle of lack of funds for down payment and closing costs. 1^st Gold is available statewide and offers down payment and closing cost assistance. The state has Targeted Areas and Non-Targeted Areas designated by the U.S. Department of Treasury in Washington, D.C. using census statistics. Mortgage loans made in Non-Targeted Areas require the borrower be a first-time home buyer. A first-time home buyer cannot have any home ownership interest in his primary residence for the last three years. Mortgage loans made in Targeted Areas do not have first-time home buyer requirements.

Is 1st Gold for me?
If you do not have funds available for down payment or closing costs, then 1^st Gold is for you.

How does 1st Gold work?
Here’s an example: Loan Amount x DPA% = $ Amount of DPA

Where do I go for a 1st Gold loan?
You will need to contact a lender who participates in OHFA Advantage. There are over 100 lenders statewide to choose from. You can find a participating lender or call (405) 419-8257 or (800) 256-1489, Ext. 257.

What kind of home can I buy?
Homes that can be purchased with 1^st Gold include:
   single unit dwellings
   manufactured housing
  condominiums
  patio homes

Many loan products are available with 1^st Gold: FHA, VA, Section 184, Conventional, Home Choice (for persons with disabilities) and 1% Option.

How do I apply for 1st Gold?
Your eligibility for 1^st Gold is determined by a lender. You must credit qualify, and income and purchase price limits apply. The lender will explain the lending process and determine the type of loan product that would be suitable for you. Find a participating lender or call (405) 419-8257 or (800) 256-1489, Ext. 257.

When are 1st Gold funds available?
1^st Gold funds are available two to three times per year. Your lender will know when funds are available.

What are the requirement & benefits?
1st Gold
  Meet state income guidelines
  Meet purchase price guidelines
  Receive benefit of below market interest rate &
       down payment assistance

 

Oklahoma Housing Finance Agency  
100 NW 63rd Street, Suite 200, Oklahoma City, OK 73116
Mailing Address:  P. O. Box 26720, Oklahoma City, OK 73126-0720
Tel: (405) 848-1144    Toll Free: (800) 256-1489    TDD: (405) 848-7471