- Housing Options
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Our First Time Homebuyer Program is designed to inform and educate potential homeowners about home buying and home ownership issues. Our program will help you address your credit report issues, learn to budget for housing expenses, and shop for lenders.
The Home Ownership Program is an eight (8) hour course, divided into three (3) sessions:
The process of purchasing a home will be explained and we will answer the questions you have about how we can help you reach your goal of owning your own home.
Held monthly, this class takes you step-by-step through the process of buying a home and helps you determine if homeownership is right for you. Topics covered are:
We offer a one-on-one financial evaluation to review your credit report, advise you of any credit problems and develop a plan of action to build or repair your credit and actively assist you in correcting any errors on your credit report.
Once you complete the Homebuyers Education classes, Housing Partners of Tulsa, Inc. (HPT) may be able to assist with a portion of the purchase price up to $5,000 toward your down payment and/or closing costs.
Four Steps to Homeownership
To be eligible for assistance, you must be a first-time homebuyer (must not have owned a primary residence in the past three years), you must purchase your home within the city limits of Tulsa. Home must be able to pass HOME/COT Code Inspection and a Lead based Paint Inspection if applicable, your debt to income cannot exceed program limits and your household income cannot exceed the program limits.
Single Family Detached Homes, Manufactured Homes, Duplex or Condominium
|Household Size||Income Limits|
*Income Limits Based on Total Gross Annual Income for all Household Members
Debt to Income Limits
Front end ratio cannot exceed 31% and back end ratio cannot exceed 43%.
Area of Assistance Tulsa City Limits
HOME/COT Housing Standards Inspection (Free inspection) and a Lead Base Paint Inspection (Only for houses built before 1978, costs $225.00 and homebuyer is responsible for payment)
Maximum Home Price
*Local HUD limit. Maximum Home Price is set by the City of Tulsa’s HOME Funds Program
Maximum Assistance up to $5,000 (5% of purchase price, minimum of $1,000 applied as a soft second mortgage). Client required to provide 1% of purchase amount. Client cannot receive money back at closing. Funds are provided according to client’s financial needs.
AN EQUAL OPPORTUNITY EMPLOYER/PROGRAM
AUXILIARY AIDS AND SERVICES ARE AVAILABLE UPON REQUEST TO INDIVIDUALS WITH DISABILITIES
*This program is financed in whole or in part by funds from the U.S. Department of Housing and Urban Development as administered by the City of Tulsa.