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Are you looking to buy your first home in Oklahoma, Canadian, Logan, or Kingfisher counties but struggling to come up with the money you need to get started? At F&M Bank, we believe everyone should have the opportunity of homeownership, and our Open Door First-Time Homebuyer Program may help you attain just that.

What is the 1st Time Homebuyer Program?

F&M Bank's first-time homebuyer program, Open Door, is intended to assist individuals and families in Oklahoma, Canadian, Logan, and Kingfisher counties who want to become homeowners but may face financial obstacles. For eligible homebuyers, our program provides 100% mortgage financing, $0 down, and a grant of up to $6000 for closing costs*. We strive to redefine accessibility to homeownership, while fostering stability, and building stronger communities.
We have partnered with Neighborhood Housing Services Oklahoma (NHS) in order to offer this program to potential first-time homebuyers.


  • 100% financing provided*
  • No down payment needed*
  • Receive grant of up to $6000 for closing costs*
  • Available for home purchases up to $250,000
  • Local lender for a more personable experience

Requirements & Eligibility

  • Must be first-time homebuyer, or have not owned a home in the last 3 years
  • Must be primary residence
  • Home must be in move-in ready condition
  • Owner-occupied properties only. Non-occupying co-borrowers and co-owners are prohibited
  • All household members must provide proof of US citizenship or Resident Alien status
  • Home must be located in Oklahoma, Logan, Canadian or Kingfisher Counties
  • Total annual gross income must not exceed 120% of the Area Median Income
  • Minimum credit score of 620 to qualify
  • Maximum debt-to-income ratio of 45% to qualify
  • Completion of Homebuyer Education course (in-person or virtual) and Pre-Purchase Counseling (in-person or by phone) through Neighborhood Housing Services required
  • Maximum sales price is $250,000
  • 2 years filed tax returns required
  • 2 years employment required

*Subject to credit approval and all eligibility requirements including but not limited to: Certificate of completion of (in person or by phone) Pre-Purchase Counseling must be received from one borrow and provided prior to entering into sales contract. Homebuyer Education Course (in-person or virtual) must be completed within current or previous calendar year of the purchase closing date. Required program courses and counseling through NHS/NFO. 1st Lien - F&M 1st Mortgage, Max LTV 80% and Max CLTV 100%. 2nd Lien - NHS/NFO 2nd Mortgage (Community Seconds/Affordable Seconds), Max LTV 20% of sales price.  A 2nd Mortgage Lien will be filed at closing. Grant funds will be table funded at closing. 3rd Lien - F&M Bank Grant subsidy up to $6,000 available to eligible borrowers on a first-come, first-serve basis until funds run out. Borrower will be required to sign a 5-year Real-Estate Retention Agreement at closing and will be filed as a third lien. Borrowers must escrow for taxes and insurance for the term of the loan. Eligibility guidelines subject to change. Refer to Fannie Mae and/or investor’s most up-to-date guidelines.