ONAC Down Payment

Assistance Program

Beginning in the fall of 2021, ONAC will offer a down payment assistance program to eligible tribal citizens. This program is primarily funded through a subsidy grant from the Federal Home Loan Bank of Topeka’s Affordable Housing Program.

Up to $5,000 in down payment assistance will be available to participants, through ONAC, with funds from the FHLB Topeka (https://www.fhlbtopeka.com/ahp). This down payment may be stacked with down payment assistance from other sources. 

More specifics about the program:

  • At least one obligated borrower occupying the residence must be an enrolled member of one of the 574 federally recognized Indian Nations.  
  • Borrowers will be required to have a household income that is less than or equal to 80% of the Area Median Income (AMI), as calculated by the FHLBank’s Affordable Housing Program guidelines. For more information, see the FHLB Topeka 2021 Owner-occupied Income Limits.
  • Borrowers must retain the purchased home as their primary residence for a period of five (5) years (60 months) subject to the terms and conditions of the Real Estate Retention Agreement that will be filed at closing.
  • Occupying borrower(s) must contribute at least $500 of their own funds into the transaction. The cost of the appraisal can count toward this contribution from the borrower.
  • To ensure the down payment assistance program serves a diverse American Indian and Alaska Native community, the following populations must be served through this program: Native elders; Native veterans; those recovering from physical abuse or alcohol or drug abuse; tribal citizens with physical or mental disabilities; and borrowers purchasing a home with three or more bedrooms. Funds for one of the 125 units will be reserved for abatement of hazardous materials. A borrower might meet more than one of these criteria.
  • obligated borrowers occupying the residence will be required to complete an approved Homebuyer Education program prior to loan closing, evidenced by a signed and dated certificate of completion (ONAC recommends that borrowers complete the Fannie Mae Framework self-paced course and receive a certificate of completion from Fannie Mae). If the homebuyer has completed homebuyer education through Habitat for Humanity, with a HUD-certified housing counseling agency, or through Freddie Mac CreditSmart Homebuyer U, this year or last year, ONAC may accept a certificate showing completion of those trainings, from the entity providing those trainings, to meet the Homebuyer Education requirement. 
  • ONAC will also offer free credit counseling/financial coaching to participants, available by phone and teleconference (not required for assistance). Additionally, ONAC will offer Native-specific financial education (not required for assistance). For those accepted into the program, ONAC offers assistance to find or sustain employment and/or job training (not required for assistance). 
  • Borrowers must be approved for a Qualified Mortgage loan product that is Fixed Rate and Fully Amortizing. Programs with products that meet such requirements include but may not be limited to: Section 184 Indian Home Loan Guarantee Program; Veteran Affairs (VA) Guaranteed Home Loan Program; Federal Housing Administration (FHA) Title II Program; US Department of Agriculture (USDA) Single Family Housing Guaranteed Loan Program (“Rural Development”); Conventional Agency Loan Programs offered through Fannie Mae, Freddie Mac and/or the Federal Home Loan Bank’s Mortgage Partnership Finance programs.

Here is a link to an overview of the program

If after reading the overview, you believe you might meet the program criteria, you are welcome to apply. Acceptance into the program will be based on available funding and the eligibility of the applicant, per FHLB Topeka eligibility criteria. Here is the link to apply: https://www.surveymonkey.com/r/ONACDPAP.

Contact: Kristen Wagner, ONAC Program Manager, at (314) 626-3086 or kwagner@oknativeassets.org.







Oklahoma Native Assets Coalition 
(405) 720-0770

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