Homeownership
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
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.