Homeownership
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.
REI Oklahoma does not discriminate on the basis of race, color, national origin, sex, disability, or age in its programs and activities and provides equal access to all. The following person has been designated to handle inquiries regarding the non-discrimination policies: Heidi McKnight, Human Resources, REI Oklahoma, 2912 Enterprise Dr., Durant, OK 74701, or (580)924-5094.