FHA Down Payment Assistance Programs

FHA Purchase

  • 5% Down payment assistance
  • 3.5% Down payment and 1.5% of the purchase price to help pay for the closing costs!
  • 620 middle credit score required
  • Manufactured/Mobile Home require a middle credit score of 660!
  • Maximum income allowed is 115% of the area median income.
  • Maximum interest rate and A.P.R. Annual Percentage rate is 6% on the second mortgage for the downpayment assistance.
  • Second mortgage is forgiven after 120 consecutive monthly payments.
  • Maximum debt to income ratio 50% of buyer(s) gross monthly income for all debts.
  • Buyer must be a first-time home buyer, can’t have owned a property in the previous 36 months
  • Home Buyer Education program is required

You don’t need 5% Down Payment!

  • 3.5% Down payment assistance available of FHA mortgages
  • Second mortgage is forgivable after 36 consecutive months payments, 30-year term with 0% interest and A.P. R. annual percentage rate and no payments
  • 620 Middle credit score required
  • 660 Middle credit score required for Manufactured/Mobile Homes

Need Higher income limit!

  • 135% of area median income
  • 640 middle credit score required Manufactured/Mobile Home 680 middle credit score required
  • 3.5% and 5% down payment assistance available
  • Second mortgage is a 10-year repayable mortgage at a fixed interest & A.P. R. Annual Percentage rate of 6%


  • 3.5% second mortgage 10 year repayment.
  • 5% second mortgage with a 30 year payment is also available!
  • 580 Middle credit score requirement
  • No Income restrictions
  • No ownership restrictions (can own other properties)
  • irst time home buyer not required!
  • Gift’s allowed
  • Homebuyer education required
  • Manufactured/Mobile Home
    (640 middle credit score required) Single & Double Wide allowed!
  • Non-occupying Co-borrowers allowed!
  • One application and approval!
  • Manual underwriting allowed with 620 score!

Additional Links

Contact Us

Oklahoma Premier Mortgage
3750 West Main St.
Norman, OK 73072
Phone: (405) 310-3370

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Oklahoma Premier Mortgage
NMLS# 1054330
Jonathan Boggs
NMLS# 126382

Equal Housing Lender