Elibigility Requirements

To qualify for down payment/closing cost assistance up to $3,500 you must:

  • Complete CAP's Homebuyer Education Program
  • Purchase a home in Tulsa, Creek, or Osage county as your primary residence
  • Qualify for bank financing to purchase your new home
  • Have a total annual household income that does not exceed the following guidelines:
Number of Persons in Household Total Annual Income Must Not Exceed
1 $30,650
2 $35,000
3 $39,400
4 $43,750
5 $47,250
6 $50,750
7 $54,250
8 $57,750

For more information, click here.

First-Time Homebuyer Program

Purchase An Affordable Home

If you have not owned a home in the last three years, you qualify as a "first-time homebuyer." 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 shop for lenders, learn to budget for housing expenses, and address your credit report issues. Our housing counselors work with local banks and mortgage companies to assist you in finding the right financing for your home purchase. Once you have completed our homebuyer education program, you will be eligible for up to $3,500 in down payment assistance.

Housing Orientation

Our homebuyer education and counseling process begins with an orientation session during which we introduce you to CAP's program and work with you to help determine if you are ready to purchase a home.

To attend a Housing Orientation Session, call 382-3200.

After orientation, you will undergo a financial evaluation during which a housing counselor will work with you one-on-one to:

  • Review your credit report
  • Advise you of any credit problems
  • Develop a plan of action to build or repair your credit
  • Actively assist you in correcting errors on your credit report

Homebuyer Education Seminar

The next step in the process is to attend our Homebuyer Education Seminar. These seminars are designed to help you feel comfortable with the home buying process.

Our Homebuyer Education Seminar covers the following topics:

  • Advantages and disadvantages of home ownership
  • Key steps and players in the home ownership process
  • What to look for in selecting a realtor
  • How to select a lender
  • What to expect in the loan process
  • What to look for selecting a home
  • How to choose a neighborhood that's right for you
  • What to do before you make an offer
  • Underwriting: The 4 C's of Credit (Capital, Capacity, Credit History, Collateral)
  • Inspections: The added protection you need
  • Electrical, Mechanical, Plumbing, Structural, & Pest control issues
  • Housing Quality Standards (HQS)
  • Lead Based Paint
  • Understanding escrow
  • Why you need insurance
  • Maintaining the property once you own it
  • Financial obligations and options if you have difficulty making your mortgage payment

After you have completed our Homebuyer Education Seminar, you will receive a certificate of completion to give to your lender.

Purchasing Your Home

For many families, down payment and closing costs present a barrier that keeps them from purchasing a home. CAP maintains a down payment and closing cost assistance fund through which you may receive up to $3,500 in assistance. To apply for this assistance, you must have completed our Homebuyer Education Seminar and the property you purchase must meet HUD Housing Quality Standards (HQS).

For more information, call 382-3200 and ask to speak with someone from the First-Time Homebuyer Program.