Removing barriers to homeownership.
Go from window shopping to welcome home with REI Oklahoma’s easy down payment and closing cost assistance.
Welcome home starts here.
We believe every Oklahoman deserves a home to call their own. The REI Home100 Program helps seal the deal with simple-to-secure down payment and closing cost assistance — including types that do not need to be repaid.
For Borrowers
Four Kinds of Assistance
Depending on the type of first mortgage you secure, our assistance comes in one of four forms:
Gift Funds
Think of this like a gift from a family member—but in this case, it’s financial assistance that you don’t have to pay back.
- No second mortgage on the property
- You can get up to 5% of your loan amount in assistance
- May cover your entire cash requirement at closing
- Available on (FHA, USDA, VA, HUD-184) and HFA Advantage loan types
Forgivable Second Mortgage
This is a second mortgage that reduces over time. Each month, part of it is forgiven, and if you stay in the home for 7 years, you never have to pay it back.
- Provides up to 5% of your total loan amount in assistance.
- May cover your entire cash requirement at closing.
- No repayment if you live in the home for at least 7 years.
- Available for Fannie Mae HFA Preferred loan type.
Amortizing Second Mortgage
This option provides assistance that you’ll pay back over 10 years with a fixed 5% interest rate.
- Provides 5% of your loan amount in assistance
- Offers a lower interest rate on the first mortgage and may reduce mortgage insurance costs
- May cover your entire cash requirement at closing
- Available for Fannie Mae HFA Preferred and Freddie Mac HFA Advantage conventional loans
Hybrid Program
This combines our Gift Funds and our Amortizing Second Mortgage program. Half the assistance is a gift and the other half is a second mortgage that’s paid back monthly.
- You get 5% of the total first mortgage loan amount in assistance:
- 2.5% is a gift (no repayment)
- 2.5% is a second mortgage (paid over 10 years at 5% interest)
- If using an FHA loan, you’ll need to contribute at least 1% of your minimum required down payment investment
Approved Lenders
To make the process painless, we’ve partnered with mortgage lenders across Oklahoma. Find an approved lender near you.
Get Ready to Buy
Homebuying doesn’t have to be intimidating. We offer easy-to-access online homebuyer education to help you navigate the process with confidence.