Loan Programs

Conventional Loans

A more traditional approach to meeting your needs.

  • Terms up to 30 years
  • No upfront mortgage insurance required
  • Down payments as low as 3% (great for first-time home buyers)
  • Escrow waiver available
  • Multiple property types eligible
  • Second Homes
  • Investor purchases/refinances

FHA Loans

The Federal Housing Administration was created in 1934 as an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.


  • Bankruptcy not an automatic disqualification
  • Flexible lending guidelines
  • Lower interest rates
  • Down payment as low as 3.5%
  • Lower mortgage points and other closing cost requirements
  • Resale can be made quicker
  • Is backed by the U.S. government


  • Down payment required
  • Higher MIP than on conventional loans
  • Loan limits are lower than conventional
  • MIP required regardless of the Loan-to-Value (LTV)

Veterans Administration (VA)

A VA loan is a mortgage loan guaranteed by the Veterans Administration. It was created in 1944 and signed into law by President Franklin D Roosevelt. A VA loan provides veterans and/or their surviving spouses with a federally guaranteed home with zero down payment. The program, also referred to as the GI Bill, has been highly successful and has helped millions of American veterans and their families acquire a home.


  • 100% financing, no down payment needed
  • No monthly MIP
  • Limit on the amount of origination fees and closing costs that the lender can charge
  • 30 year terms


  • Borrower must have a Certificate of Eligibility (CoE) from the VA
  • Borrowers are required to make a one-time funding fee based on loan amount and applicant's service length, unless exempt.
  • Closing costs may be paid by the lender and/or the seller

USDA Rural Development Loans

The USDA Rural Housing Service has various programs available to aid low- to moderate-income rural residents to purchase, construct, repair, or relocate a dwelling and related facilities. USDA rural housing loan programs allow qualified homebuyers to get loans with minimal closing costs and no down payment.


  • No down payment requirement
  • Property must be located in an eligible rural area (moved up from disadvantages)
  • Closing cost can be added into the loan (if the property appraises high enough to include it at up to 102% of the appraised value)
  • Loan government guarantee fee and low monthly guarantee fee
  • Low interest rates
  • Applicants with a wide range of credit profiles
  • Income eligible applicants who do not qualify for conventional financing
  • Families and individuals that have minimal funds for a down payment and closing costs
    • Includes first-time homebuyers and repeat homebuyers
  • Seller concessions - 6% maximum
  • No cash reserve requirement
  • No non-allowable costs
  • No first-time homebuyer requirement
  • 30 year loan at competitive fixed rate
  • No limit on gift funds


  • Property must be in very good condition and have a high insulation R-factor
  • You can not make over 50% of 115% of the median county income to qualify
  • Must be able to verify income limits
  • Can only own one residence; primary residence only

Section 184 Program

The Section 184 Loan Guarantee Program was created by the Housing and Community Act of 1992 to address the lack of mortgage lending in Indian Country.

  • Terms up to 30 years
  • Down payments as low as 2.25%
  • Low monthly MIP
  • One-time guarantee fee can be financed
  • Available to enrolled members of a Federally recognized tribe

Down Payment Assistance Programs

  • City of Muskogee Housing Incentive Program: The City of Muskogee is offering assistance with the purchase/construction of a home within the original townsite.
  • MAP Funds: The Housing Authority of Cherokee Nation offers a mortgage assistance grant up to $20,000 that can be used for down payment assistance and closing costs for qualified borrowers.
  • MCC: The Mortgage Credit Certification Program helps borrowers obtain a tax credit that reduces their mortgage interest costs each year.
  • OHFA: The Oklahoma Housing Finance Agency offers 30 year, fixed-rate, low interest mortgage loans with 3.5% down payment grant assistance to homebuyers. Homebuyers must meet income, purchase price, and credit score guidelines.
  • REI Down Payment Assistance: REI Down Payment Assistance has helped more than 4,900 Oklahoma families achieve homeownership. These assistance programs help eligible borrowers purchase the home of their dreams.