ONAC Down Payment Assistance Application Form

The Oklahoma Native Assets Coalition, Inc. (ONAC), a Native-led nonprofit, received support from the Federal Home Loan Bank Topeka (FHLB Topeka) to provide down payment assistance to homebuyers with household income that is less than or equal to 80% of the Area Median Income (AMI) by the county in which you are purchasing and will reside in your home (so the AMI may vary widely by county). Before you apply, look up the FHLB Topeka 2022 Owner-occupied Income Limits by state and county at https://www.fhlbtopeka.com/Portals/0/Documents/commprog/Workbooks/2022%20AHP/Income%20Limits.pdf?ver=2022-07-18-224608-477. The funding is available for purchase of existing homes and not for construction of new homes. If you are approved, you have to use these funds at the time of closing, not after, for down payment assistance. Due to first-come, first-served demand, it may take some time for us to process your application. If you are applying, we will need your cooperation to provide us with all the information requested in the application and as we move through the income verification process with you. ONAC will not begin processing your application until you have submitted all the requested information. Please only apply when you have the county and property address for the property you wish to purchase.

This program will provide $5,000.00 in down payment assistance to eligible homebuyers. As ONAC is using FHLB Topeka funding, the eligibility criteria for this assistance program were established by the FHLB Topeka. ONAC is administering the program in adherence to those required criteria. In order to provide this program at no cost to eligible homebuyers, ONAC may collect a $500 sponsorship fee and a $500 homebuyer counseling fee from the FHLB Topeka to support administrative costs. These two fees are included on the closing disclosure document when a homebuyer purchases a home.

If you have questions as you complete this application form, please contact Christy Finsel, ONAC Executive Director, at cfinsel@oknativeassets.org.

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* 1. In order to receive funding from the FHLB Topeka to provide down payment assistance to homebuyers, ONAC had to commit to serve homebuyers that reside at 80% or below AMI.

Additionally, ONAC committed to serve participants who meet the FHLBank Topeka eligibility criteria below. At this time, ONAC is behind on meeting our commitment to serve veterans and those with a hazardous abatement issue. Thus, we are temporarily limiting the application only to those who have a veteran in their household or who have a hazardous abatement issue on the house that they will address prior to closing. Please select all that apply to those in your household. Given our funding source, we are only able to serve those who meet at least one of these two FHLB Topeka criteria.

Military veterans, whose condition of discharge was by any means other than dishonorable or bad conduct (would need to provide DD214, certificate with discharge status, or another related document with the discharge status). This assistance can be provided to active military but you have to be discharged from an earlier active military event. The borrower does not have to be the veteran. You could meet this criteria by having a veteran living in the household who will not be listed on the mortgage. If you are a widow or widower of a veteran, who had an honorable discharge, you can also apply.

Abatement of hazardous materials (addressing lead paint or radon remediation, as examples). Will need documentation showing there is hazardous material, it was removed, and a receipt showing what was paid for the removal.

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* 2. For those who are veterans and those with a hazardous abatement issue, please let us know if you also meet one of these additional FHLB Topeka special population criteria:

Survivor of interpersonal violence/domestic violence (ONAC can provide a form to self-certify, with a signature from the applicant. There is no additional documentation needed).

Household member recovering from alcohol or drug abuse (ONAC can provide a form to self-certify, with a signature from the applicant. There is no additional documentation needed).

Household member with a mental or physical disability (to meet requirement of the FHLB Topeka, ONAC will need a copy of SSDI award letter with code to indicate disability; ONAC will not need to know the disability).

Those age 55 and older.

None of the above.

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* 3. When is your closing date? ONAC can only accept applications for those closing at least twenty-one business days from the date you submit your application to ONAC (preferably, you are applying earlier, at least 30-50 days before your closing). There will be no exceptions.

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* 4. Before you begin, do you have a property address for the home which you intend to purchase? If not, please wait to apply until you have pre-approval from a lender and a property address.

Yes, I have a property address for the home I wish to purchase.

No, I do not have a property address for the home I wish to purchase. In this case, please apply only after you have pre-approval from a lender and a property address.

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* 5. Go to https://www.fhlbtopeka.com/community-programs-grant-programs-resources and click on 2021 Owner-Occupied Income Limits. Then, click on the state and county you wish to purchase a home in and check on the maximum gross year-to-date income you can earn, based on the numbers of members in your household.

From looking at that chart, do you believe that your year-to-date gross income, including all income earners in the household ages 18 and over, is at 80% or below Area Median Income for the county in which you plan to purchase a home?

Yes, it appears that our household AMI is below 80% for the county in which I/we plan to purchase a home. If this is the case, then please proceed with the application.

No, we are over income. If this is the case, unfortunately, ONAC is unable to serve you with this program. Please do not proceed with this application.

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* 6. Please provide your contact information below:

Name (First, Middle, and Last)

Street/Mailing Address

City/Town

State/Province

ZIP/Postal Code

Email Address

Phone Number

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* 7. To verify your identity, please upload a copy of your driver's license, state-issued ID, or tribal ID using the upload button below. ONAC must have a copy of your license or ID to process your application. If there is more than one adult in the household, we will email you after you submit the application to request the other ID by email.

PDF, DOC, DOCX, PNG, JPG, JPEG, GIF file types only.

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* 8. How many people are in your household? (Note: This should be the same as the # of household members you claim for tax purposes.)

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* 9. Please list the names and birthdates of each household member in the space below

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* 10. The down payment assistance program is available for homebuyers with a household income that is less than or equal to 80% of the Area Median Income (AMI) for the county you will purchase your home in and reside in. Income limits are determined by the FHLB Topeka and are specific to the county and state where you live. Please enter the year-to-date (YTD) gross income amount on your most current paystub in the box below. This information will help us determine your eligibility for participation in this program.

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* 11. My/Our household income includes salary/hourly wages, bonus, commission, overtime, and/or tips.

Yes

ONAC Down Payment Assistance Application Form

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* 2. For those who are veterans and those with a hazardous abatement issue, please let us know if you also meet one of these additional FHLB Topeka special population criteria:

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* 3. When is your closing date? ONAC can only accept applications for those closing at least twenty-one business days from the date you submit your application to ONAC (preferably, you are applying earlier, at least 30-50 days before your closing). There will be no exceptions.

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* 4. Before you begin, do you have a property address for the home which you intend to purchase? If not, please wait to apply until you have pre-approval from a lender and a property address.

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* 6. Please provide your contact information below:

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* 8. How many people are in your household? (Note: This should be the same as the # of household members you claim for tax purposes.)

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* 9. Please list the names and birthdates of each household member in the space below

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* 11. My/Our household income includes salary/hourly wages, bonus, commission, overtime, and/or tips.

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The pay stub image below is an example of the type of paystub information that is required to determine your eligibility for down payment assistance: