The Tulsa County Home Finance Authority (TCHFA) has launched the 2025 First Home Homebuyer Assistance Program aimed at assisting first-time homebuyers. With a commitment of $25 million of mortgage revenue bonds, the First Home program is offering a below-market fixed-rate mortgage that also comes with substantial down payment assistance.
“This program gives Tulsa County families a real opportunity to plant roots and build stability during a time when housing costs have put homeownership out of reach for many,” said Tulsa County Commissioner Chair Lonnie Sims. “We are committed to supporting solutions that strengthen our communities and help residents achieve long-term financial security.”
The interest rate on First Home was locked in at 6.35%, roughly .25% below the current FHA rate on a 30-year mortgage with no assistance, providing the homeowner more purchasing power in a market where home prices remain elevated. First-time homebuyers will receive 3.5% of the total mortgage amount up-front for down payment or closing-cost assistance. If the homebuyers stay in their home for five years, the loan for that assistance is fully forgiven.
On average, this 3.5% assistance equates to about $9,000, and considering that almost 40% of potential homebuyers say the lack of a down payment is preventing them from moving into a home, the First Home program is addressing the biggest obstacle facing first-time homebuyers. Given the anticipated first-come, first-served demand for the First Home Program, it is expected that the funds will be fully allocated before the end of 2025.
“I am thrilled to launch the 2025 First Home Program to assist Tulsa County residents with buying a home” said TCHFA Chair John Smaligo. “The housing affordability crisis is a national reality and Tulsa County is working at all levels – affordable housing and market-rate homes – to help our residents bridge their way to living in security, creating generational wealth and achieving equity in homeownership.”
The TCHFA First Home Program process began in June 2024 with Tulsa County Home Finance Authority in response to price and mortgage rate increases in housing, essentially pricing many families out of the market for a median single-family home. The median single family home price in Tulsa County has increased over 50% since the end of 2019, from $170,000 to $252,000 in July 2025. From 2019 to 2024, federal interest rates, to which mortgage interest rates are tied, rose from 2.5% to 8.5%. These two economic factors have made it much harder for the average Tulsa County resident to buy a home.
Tulsa County homebuyers interested in the program can obtain detailed information at: https://myfirsttulsacountyhome.com/ or contact your local Realtor.
