Benefits of Our First-time Homebuyer Program
Down Payment Assistance
No PMI Added to Payment
Local Loan Servicing
Are You a First-Time Homebuyer in Oklahoma?
No financial situation should stand in the way between you and your first home. A down payment is a big hurdle for most Americans, and the added expense of private mortgage insurance (PMI) can make owning a home almost impossible.
Our new HomePath program is designed to be a more affordable mortgage option for first-time buyers.
- Available to all eligible borrowers in Oklahoma – There are no area or county restrictions.
- The property you want to buy can be located anywhere in Oklahoma.
- Down Payment Assistance – WEOKIE will provide a grant (not a loan) up to $6,000*
- 100% Financing – Options with no down payment needed are also available.
- No PMI Requirement – Our program eliminates the need for Private Mortgage Insurance.
- Our origination fee is only $750.
- Mortgage Payments are compatible with existing rent payments – and often lower
- Spanish-Speaking Mortgage Professionals are available to guide you through the process!
Plus, you can enjoy local servicing and expert guidance when you choose WEOKIE as your lender!

HomePath Requirements
WEOKIE's HomePath First-Time Homebuyer Program offers a grant to cover your down payment. You also get a mortgage loan option that eliminates the need for costly PMI to be added to your monthly payment.
Here's what you need to qualify as an Oklahoma first time home buyer:
- Must be a first-time homebuyer, or haven't owned a home in the last 3 years
- Owner-occupied properties only
- The home must be in average condition and move-in ready
- Borrower(s) must qualify for membership with WEOKIE
- Rate and term based on credit score
- Minimum credit score of 620 is required
- Debt-to-income requirements apply
- 2 Years Employment required
- 2 Years filed Tax Returns required
- The maximum sales price is $200,000
- Pre and Post-Purchase Housing, Counseling, and Homebuyer Education courses are required.**
- Income requirements apply.
- Property must be in Oklahoma.
Click here to view the HomePath Program's disclosures.
Rates for Oklahoma First-Time Homebuyers
Rate as of: 02/14/2023
LOAN TYPE | TERM | APR* |
---|---|---|
WEOKIE HomePath | 30 Year Fixed Rate | 7.500% |
Apply Now |
We'll Guide You Through Our First-Time Homebuyer Application Process
Step 1 |
Apply OnlineGather your information and documents then use our simple, secure portal to get started. |
Step 2 |
Get Pre-QualifiedWe'll look at your financial picture and offer you a fixed rate for a 30-year loan term. |
Step 3 |
Find a Home!With your financing ready, you can shop with confidence and we'll help you through closing. |
"Always friendly and professional and always the best rates if you’re looking for loans or banking.!!"
Michael G., Oklahoma City, OK
FAQ About Our First-Time Homebuyer Assistance Programs
-
How does the WEOKIE HomePath program work?
Our first time home buyer programs offer a 30-year fixed-rate conventional loan, which means it offers steady payments over a generous loan term. Conventional means it's a private loan between you and a mortgage lender like WEOKIE and isn't government-backed like an FHA or VA loan.
The difference between our HomePath Program and other loan programs is that you receive more financial assistance and guidance to help you on your journey as a first-time homebuyer in Oklahoma.
We offer a down payment assistance program and assistance with closing costs. Plus, we'll waive private mortgage insurance (PMI), so you can afford to buy a home sooner than later.
We want to ensure that our members have the best opportunity to make informed decisions, and the Mortgage Lending Experts with WEOKIE are always available to guide you through the process.
-
What are the advantages of a fixed-rate mortgage?
A fixed-rate mortgage means you always know what's coming because your monthly payment toward your principal and your monthly interest payment always stay the same. The only things that may change in your monthly payment are your property taxes or homeowners insurance.
Unlike an adjustable-rate mortgage (ARM), your rates won't rise and fall with the unpredictable markets, so you can easily budget in the long term. If market rates do fall in the future, you could do a mortgage refinance to secure a lower rate.
-
Why should I get pre-approved for a home loan?
When you get pre-approved, you find out if you're eligible for a home loan and what total loan amount and rate you're likely to get. That means you can work out your monthly budget and look for homes in an affordable price range. Here are more benefits:
- Compete in today's market with a fully underwritten pre-approval.
- Show Realtors and Sellers you’re ready to buy.
- Your homebuying process will be faster, so you and the sellers can get to the closing table more quickly and easily.
-
How can I work out my monthly payment?
You can use our purchase calculators to see how much monthly payment and purchase price you can afford.
-
What is the mortgage process?
Our experts are here to guide you through the mortgage process! Luckily, the HomePath process is much the same as for a regular home loan.
First, apply online and get pre-approved for your mortgage with a likely starting rate. If pre-approved, we move to the next steps:
- We'll process your application, verify all your documents, and request proof of income.
- We need to order an appraisal of the home and a title search to check for any liens, plus check your flood certification if needed.
- When all this is done, we complete the underwriting process to finalize your loan approval.
- Then we close on your mortgage!
-
What documents are needed for a First-Time Homebuyer in Oklahoma?
The documents you need may vary depending on your situation, but here's our handy checklist so you can prepare:
- Your current residence address, or addresses, for the past two years
- Social Security numbers for all borrowers
- Your employment history for the past two years – you'll need your employer(s) name, address, and phone number
- Income information for all borrowers – you'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income, and any other regular source of income
- Details about your rental or home ownership history
- If you own any other real estate, we'll want to know the address, current market value, amount you owe, amount of rental income you receive (if any), and what your monthly payment is
- Information about your current debts – we'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment
We are here to help you find the right option to fit your needs. Give us a call at 405-235-3030 or apply online today.
We are here to help.
If you can’t find what you’re looking for, let us know. We’re ready to help in person, online or on the phone.
WEOKIE is proud to provide services through our trusted partners.
Explore More Home Financing Tools
*Normal lending policies apply. The information published, the terms, conditions, and descriptions shown may be subject to change without notice and not guaranteed. Credit and collateral are subject to approval. Not all applicants will qualify. All loans are subject to underwriting. Rate and term based on credit score. Minimum 620 credit score required. Current WEOKIE loans are not eligible for refinancing. Maximum income and loan amount limits apply. Homebuyer education may be required. Fixed-rate mortgages (no cash-out refinances), primary residences only. Certain property types are ineligible. The maximum loan-to-value (“LTV”) is 80%, and the maximum combined LTV is 105%. The borrower's total annual qualifying income must not exceed 120% of the AMI (see https://ami-lookup-tool.fanniemae.com/amilookuptool). Homebuyer(s) must meet NHSOKLA grant requirements for down payment assistance. Down payment and/or closing cost assistance amount may be due upon sale, refinance, transfer, repayment of the loan, or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest and borrowers should become fully informed prior to closing. Owner-occupied properties only. Manufactured Homes and Condos are not permitted. The home must have been owned by the seller for at least 6 months. The home must be in average condition and move-in ready. Short-Sale, Foreclosed, or REO homes in "move-in ready" condition not allowed. Non-occupying co-borrowers and non-occupying co-owners are prohibited. Additional terms, conditions, and restrictions may apply. Please contact a WEOKIE mortgage professional for more information. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. FEDERALLY INSURED BY NCUA. NMLS# 442689. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Borrower(s) must qualify for membership with WEOKIE.
**At least one borrower must complete a one-on-one Pre-Purchase housing counseling and education course thru Neighborhood Housing Services of Oklahoma (NHSOKLA).