Down Payment and Closing Cost Assistance Program

You may qualify for up to $40,000 toward a down payment and closing costs.

What is it?

For many people, down payment and closing cost assistance can be the difference between homeownership dreams and reality. The Down Payment Assistance Program provides federal assistance for qualifying low-to moderate-income homebuyers to purchase a house located in one of the 2013 disaster-impacted neighborhoods within the City of Moore.

How do I qualify?

All applicants must meet the following qualifications:

  1. Applicant must not exceed program’s income guidelines for their family size.
  2. Must have ability to get a 1st Mortgage through a bank or mortgage company.
  3. Home must be used as applicant’s primary residence for a five-year period following the purchase of the home.
  4. Applicant must attend a certified Homebuyer Education Workshop prior to closing.
  5. Homebuyer must be a U.S. citizen or legal resident.

Funds will be dispersed on a first-come first-served basis, with those directly impacted by the 2013 severe weather outbreaks receiving preference.

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Maximum Income Guidelines:

$38,850          1-person family

$44,400          2-person family

$49,950          3-person family

$55,500          4-person family

$59,950          5-person family

$64,400          6-person family

$68,850          7-person family

$73,300          8-person family

I think I qualify. Now what?

Step 1: Determine how much you can afford.

  • Total housing expenses cannot exceed 32% of income to qualify for the program. (Example: if you make $3,000 per month, your new mortgage and utilities cannot exceed $1,000.)
  • Debt-to-income ratio cannot exceed 42% of income.
  • Must have three months of mortgage payments in the bank at closing.
  • Must put down a minimum of 1% of the cost of home at closing.
  • Loan origination fees cannot exceed 3% of total cost of home.

Step 2: Obtain pre-approval from a lender.

Step 3: Submit application and attend a Homebuyer Education Workshop. Sign up for a workshop.

Step 4: Find an eligible home.

For Additional Information, contact Linda Rowe at Neighborhood Housing Services of Oklahoma, 405-231-4663 or visit their website,

Which homes are eligible?

  • Property must be located within tornado-impacted areas within the City of Moore. Eligible neighborhoods and map.
  • Price of the property cannot exceed $138,000 for existing construction or $180,000 for new construction. (Appraisal will be required.)
  • Property must be a single-family, detached home.
  • The property must meet all applicable City zoning and building code requirements and have a shelter or safe room that meets or exceeds the FEMA standard established at FEMA P-320 and P-321, as determined by City Inspector. 
  • All units must meet or exceed Ordinance: 768(14) 3/17/14 Dwelling code 5-204 C 
  • House must be owner-occupied or vacant for 90 days prior to entering into a sales contract if previously rented to anyone except buyer.

How much financial assistance will I receive?

The amount of assistance that qualifying applicants will receive is based on the assessed need. Qualifying applicants will receive up to $40,000 in the form of a 5-year forgivable loan. One fifth of the loan will be forgiven each year with the entire amount forgiven after five years living in the home.

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