Statewide Down Payment Grant Program the Focus of June 27 National Homeownership Month Celebration

Engaged Couple Shares Their Experience Buying Their First Home with OHFA Advantage

Homeownership remains a distant dream for many Americans, particularly millennials, but Oklahomans live in one of the best places in the country to buy a home. Oklahoma City ranks second and Tulsa fifth on this year’s list of “The Best Cities for First-Time Homebuyers” compiled by SmartAsset.

The study based its results on the affordability, mortgage availability, and the stability of the housing market in U.S. cities with a population of more than 300,000. In addition, Oklahomans have access to a statewide down payment program that gives grants of 3.5 percent or 5.0 percent of a home’s purchase price up to $13,800.

Zach Williams and Amber Loomis are two millennials who were surprised to learn they could afford to own a home, especially since Williams is still a student in law school.

“Our mortgage here is significantly cheaper than what we were paying in rent,” Williams said.

The couple purchased their first home using an OHFA Advantage fixed rate 30-year low interest home loan and a 3.5 percent down payment grant totaling $4,767.

As first-time homebuyers, the couple said they found the homebuying experience very positive and rewarding.

“I still can’t believe it was so easy,” Williams said. “We had really great help.”

What: In recognition of June as National Homeownership Month, Zach Williams and Amber Loomis will give members of the media a tour of their home. They will discuss using the OHFA Advantage Homebuyer Program and a down payment grant to make their homeownership dream come true. Representatives from OHFA and Gateway Mortgage will also be available for media interviews.

When: Tuesday, June 27 at 9 a.m.

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