Saving up money to buy a home can be tough.  We get it.  Maybe you would rather use that money for something else.  That is fine with us.  Down payment assistance can accomplish your goal of homeownership sooner when you find that great house.  A 30 year fixed-rate first loan combined with a repayable small 2nd mortgage to finance the down payment is how our program gives you no down payment financing.  We will compare this option to our other loan programs so you can choose the solution that works best for you.

With the increase in housing costs and home prices, down payment assistance can help bridge the gap between what an Oklahoman can afford and the money needed to buy a house. By reducing the upfront cash needed to purchase a home, down payment assistance can make homeownership more accessible to families, individuals, and first time homebuyers. This can enhance affordability and make homeownership a realistic goal for more Oklahomans in the state. Scissortail Financial knows that down payment assistance plays a vital role in making homeownership attainable for people throughout Oklahoma, promoting financial stability, economic growth, and community well-being.

With us, down payment assistance funds may be used towards the borrower’s cash requirement to close, such as the down payment, closing costs, pre-paid items, and other related mortgage loan fees and expenses.

Advantages of Down Payment Assistance

• LEAVE YOUR CASH IN THE BANK. With 3.5% and 5% assistance options and waived underwriting fees, preserve your money and use it for improvements, emergencies, or other financial goals.
• NO INCOME LIMIT. Unlike a bond program, higher income earners are not stopped from using this down payment assistance to buy a primary residence.
• NO GEOGRAPHIC RESTRICTIONS. The entire state of Oklahoma is eligible. Single Family Properties, Duplexes, Condominiums and Doublewide Manufactured Homes can be allowed.
• QUALIFY FOR MORE. Higher debt to income limits and a maximum loan amount of $498,257 allow you to expand your possibilities and find the perfect home.
• EASY BORROWER ELIGIBILITY. You do not need to be a first time home buyer. Non-occupying co-borrowers are allowed. All Borrowers must meet income, employment, asset, and credit guidelines.
• RELAXED REQUIREMENTS. Underwriting is less restrictive compared to conventional loans.  Only a low minimum credit score of 660 with approved credit is required.

Ready to make homeownership a reality? Discover how down payment assistance can turn your dreams into keys in hand. Ask us about down payment assistance today while program funding is available.

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Learn more about the process Questions You Should Ask

The experts at Scissortail Financial will arm you with helpful mortgage information plus other valuable resources to help make buying your home quick and easy! 

Step 1 is to make loan application.  To make it easy, Scissortail Financial does not charge loan application or credit report fees to get started.  Scissortail Financial is here to help you every step of the way.