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First-Time Buyers
COBY

Buying your first home
in Oklahoma.

The process has a lot of moving parts. Here's what you need to know — step by step, without the overwhelm.

A note before you start: Buying a home is one of the most significant financial decisions you'll make. This guide is designed to help you understand the process — not to rush you through it. Take your time. Ask questions.
Step 01

Know your budget before you start looking.

Get pre-approved before you tour a single home. Pre-approval gives you a real number — what a lender will actually loan you — and shows sellers you're a serious buyer. It also reveals any credit or financial issues you'll want to address first.

Plan for more than just the down payment. Budget 2%–5% of the purchase price for closing costs on top of your down payment. Many first-time buyers underestimate this.

Step 02

Oklahoma assistance programs.

The Oklahoma Housing Finance Agency (OHFA) offers down payment assistance and favorable loan programs for qualifying first-time buyers. FHA loans allow as little as 3.5% down with a 580+ credit score. These programs can meaningfully reduce your upfront costs.

After closing, file for Oklahoma's homestead exemption. It reduces your annual property tax bill — and it's easy to overlook.

Step 03

Define what you actually need.

Make two lists: must-haves and nice-to-haves. Bedrooms, location, commute, yard. Being clear on this before you start searching saves time and prevents you from compromising on the wrong things.

Step 04

The home inspection is non-negotiable.

Budget $350–$600 for a general home inspection. This is separate from closing costs and worth every penny. A good inspector will walk through the home with you and explain what they're seeing — foundation, roof, HVAC, electrical, plumbing.

Inspection findings can be negotiated with the seller. Don't skip it to save a few hundred dollars.

Step 05

Closing day — what to expect.

You'll sign a lot of documents. Bring a valid ID. Review your Closing Disclosure ahead of time — it breaks down every fee. Oklahoma does not require an attorney at closing, though a title company handles the process. After closing, apply for your homestead exemption with your county assessor.

Ready to get started?

I'm happy to walk you through the process in more detail — no obligation, no pressure. Just a straightforward conversation about where you are and what makes sense next.

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Free download

The first-time buyer checklist.

Every step from "thinking about it" to keys in hand, in order, on one page. Tell me where to send it and the download starts immediately.

Downloading now. I reply the same day if you have questions.
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Questions and answers

Common questions from first-time buyers

What down payment assistance is available for first-time homebuyers in Oklahoma City?
The two statewide options most OKC buyers use are OHFA (Oklahoma Housing Finance Agency) and REI Oklahoma. OHFA offers 3.5% of your loan amount in assistance through its GOLD and DREAM programs, and REI Oklahoma offers up to 5% as a gift or a second mortgage. Both are available in Oklahoma City and work through approved lenders. I can point you to a lender who handles these. I refer buyers, I do not originate the loan.
Do I have to be a first-time homebuyer to get down payment assistance in Oklahoma?
Not for every program. OHFA's GOLD program requires you to be a first-time buyer, meaning no home ownership in the past three years, unless you are buying in a designated targeted area. OHFA's DREAM program and all of REI Oklahoma's options are open to both first-time and repeat buyers.
Is a homebuyer education class required to get down payment assistance?
It depends on the program and loan type. REI recommends homebuyer education for government loans and generally requires it on conventional loans when all borrowers are first-time buyers. OHFA may require it depending on the loan product. Even when it is optional, a homebuyer education course is worthwhile, and your lender will tell you if it is mandatory for your file.
How do I apply, and can you as my realtor get me the loan?
You apply through an OHFA-approved or REI-approved mortgage lender, not through the housing agency directly. As your realtor I connect you with a lender who handles these programs and help you shop for a home within the price limits. I do not originate mortgages or quote rates. The lender confirms your eligibility, income limits, and which assistance structure fits you.

Program details change; a licensed lender confirms current figures. I am a realtor, not a mortgage lender, so I connect you with someone who handles these and help you shop. Ask me which lender to call.

Keep reading: Down payment assistance in OKC · How OHFA GOLD and DREAM work