Down Payment Assistance

Apache Housing Authority's

ADAP

The Apache Down Payment Assistance Program is intended to assist enrolled Apache Tribal Families of modest means with up to $5000.00   in assistance. This program is for enroll feed Apache Tribal Members only,

Apache Tribal Members who have an annual income 80% or below the median income guidelines, grant amounts can be up to $5000.00.

Apache Tribal Members who have an annual income between 80% – 100% of the median income guidelines, grant amounts can be up to $2500.00 and Apache Tribal Members who have income above 100% of the median income guidelines are ineligible for this program.

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1. Fill out the application online.
2. Upload the application.
3. Upload supporting documents.

REMOVING BARRIERS TO HOME  OWNERSHIP

One of the barriers to accessing the Conventional mortgage market is the availability of down payment and closing cost funds. Home buyers are sometimes required to provide between 5% and 25% of their total mortgage loan in cash at closing. This requirement can cause delays and even rejection to most homebuyers.

One way to ensure that a lump sum cash obligation does not stand in your way of purchasing a home is to take advantage of a down payment and closing cost assistance program. The Housing Authority of the Apache Tribe of Oklahoma operates a down payment and closing cost assistance program, ADAP.

ADAP ASSISTANCE AT CLOSING

The Housing Authority of the Apache

Tribe will file an interest-free second mortgage in the amount of the assistance provided.  If the home is kept as the applicant’s principal residence for five (5) years, the mortgage is forgiven. 

However, if the home goes into foreclosure or is sold within that five (5) year period, the applicant shale be responsible for a partial repayment, as determined by a non-interest pro-rated schedule.

To be eligible for ADAP, the applicant must:

  • Cannot own their present or existing residence at the time of the mortgage application, unless your present home is determined to be substandard housing.
  • Reside within the state of Oklahoma, or Nationwide, as of June 12, 2008
  • Quality as a family.
  • Complete a homebuyer education class (total of 8 hours; 6 hours class time, plus 2 hours face-to-face)
  • Have a combined annual household income which does not exceed he maximum income limit for family size
  • Be 18 years of age or older
  • Provide all requested information: CDIB, Social Security Card, employment verification, income verification, for each working family member.
  • Sign all required forms, including the consent for disclo-sure of information
  • Be willing to meet credit and financial obligations for loan assistance from an approved and certified financial institution.

Applicants seeking to purchase a home direct/y from a relative must initially be approved by the ADAP Grant Review Committee.

Maximum Grant Funds

The maximum grant for families with incomes 80% or below the median income as defined by NAHASDA shall be up to, but no more than $5000.

Grant Repayment

If a grant amount is awarded and accepted by the applicant, the applicant shall sign a promissory note and second mortgage at closing.

This mortgage indicates the grant amount may be forgivable and not subject to repayment.  If the home is kept as the applicant’s principal residence for five (5) years, the mortgage is forgiven.  If the home goes into foreclosure or is sold within the five (5) year period, the applicant I’ll be responsible for a partial repayment.

1503 American Street

Anadarko, OK 73005

405-247-7305

405-247-3557

… Now is the time to contact the Housing Authority of    2 Persons the Apache Tribe. You can

  • Requesting application for assistance
  • Schedule homebuyer and financial Education classes at no cost.
  • Receive information on budgets and assistance on how to improve personal credit.
  • Ask questions about the home buying process.
  • Meet with the Resident Services Staff to discuss housing opportunities that may be available to your family.

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$50,400 Max
$18,900 Min

$57,600 Max
$21,600 Min

$64,800 Max
$24,300 Min

$72,000 Max
$27,000 Min

$77,800 Max
$29,200 Min

$83,600 Max
$31,400 Min

$89,300 Max
$33,500 Min

$95,100 Max
$35,700 Min

Income Guidelines are adopted annually per HUD Guidance.

FOR INFORMATION OR QUESTIONS CONTACT

Residential Services

Phone: 405-247-7305
Email: info@apachehousing.org