Carpenter Parham Mortgage Broker

Unique bungalow with modern upgrades and endless possibilities! Located within walking distance of the Western District, this 3-bed, 2.5-bath home blends original charm with quality additions by Thomas Kirby Construction.

The highlight is a detached, professionally designed recording studio built by BCC Contracting and used by artists including MOTHICA, Josh Fudge, Johnny Manchild, and Tyson Meade. Featuring acoustically isolated walls, soundproofing, dedicated power, climate control, and professional audio connectivity, it’s ideal as a studio, office, guest suite, content creation space, or rental.

Just minutes from local favorites like the Will Rogers Theatre, Rococo, Musashi’s, Sushi Neko, and Chicken Shack, this one-of-a-kind property offers the perfect mix of character, creativity, and convenience. 🎵🏡✨

Don’t let your own assumptions hold you back! Whatever is on your credit score, we have seen it before! We can let you know what your current approval status is, how much, what rate, and if not we can give you guided steps to get your credit back in order.

4 Types of Down Payment & Closing Cost Assistance for First-Time Homebuyers

1. Grant Programs

A grant is free money applied directly toward your down payment or closing costs. These funds usually come from the lender or one of their approved partners.

No repayment required

Reduces the amount of cash you need at closing

Ideal for buyers who qualify but need help with upfront costs

👉 Think of this as a true gift to help you get into your home sooner.

2. Deferred Second Mortgage Assistance

Some lenders offer down payment assistance as a second mortgage with no monthly payment.

No interest or very low interest

No payments due while you live in the home

Repaid only when you sell or refinance

👉 This option helps buyers purchase now without increasing their monthly housing payment.

3. Seller Concessions

Seller concessions allow the seller to contribute 3%–6% of the purchase price toward your closing costs.

Reduces your out-of-pocket expenses

Often negotiated as part of the purchase contract

Can be combined with other assistance programs

👉 This is a powerful way to lower the cash you need to bring to closing.

4. HomeOne® Credit (Up to $2,500)

First-time homebuyers may qualify for up to $2,500 toward closing costs through the HomeOne® program.

No repayment required

No income limits

No additional strings attached

👉 This credit can make a meaningful difference in affordability, especially for first-time buyers.

Bottom Line

Many first-time buyers think they need a large down payment, but multiple assistance options can work together to significantly reduce upfront costs. A knowledgeable lender can help determine which programs you qualify for and how to stack them effectively.

Easiest Thing to do is fill out an application at gainmortgagegroup.com and give me a call!
405-420-5413

New Listing Loan Profile:

10005 Sunnymeade Place, Oklahoma City, Oklahoma, 73120

First Time Home Buyer:
Purchase Price $285,000
Down Payment less than $10,000 (3.5%)
Montly Payment = ~$1750

Conventional Home Buyer:
Purchase Price $285,000
Minimum Down Payment $28,500 (10%)
Monthly Payment = ~1600

FHA Home Buyer:
Purchase Price $285,000
Mininmum Down $8,550 (3-3.5%)
Monthly Payment = ~1700

Carpenter Parham
405-420-5413
www.gainmortgagegroup.com