Eligible Borrowers: Both of the following households are eligible for the grant:

• Low-to-moderate income households purchasing a primary residence in a majority minority census tract located in Oklahoma County.
• Low-to-moderate income households currently occupying their primary residence in a majority minority census tract located in Oklahoma County for at least the most recent 6-month period and moving to a non-majority minority census tract located in Oklahoma County.

Eligible Properties: An owner-occupied single-family home, 2-4 unit property, townhome, or a condominium.

Eligible Loan Purpose: Purchase transaction only.

Eligible Occupancy: Primary residences only. Investment properties and second homes are not eligible.

Qualifying Income: Income limits can vary based on number of persons in the household as prescribed by the Housing and Urban Development income limitations. All applicants will be considered with qualifying income depending on the number of persons in their household. Qualifying income is defined as 1-4 person households earning $71,600 and 5+ person households earning $94,550+.

Grant Eligibility: Applicants must close on a home loan through one of Valor Bank’s secondary market loan programs backed by Freddie Mac, Fannie Mae, FHA, VA, or USDA to qualify for the eligible grant. These entities allow for no down payment (USDA and VA), 3 percent down payment (Fannie Mae and Freddie Mac), and 3.5 percent down payment (FHA).

Eligible Grant Amount: Applicant can receive up to $10,000 in down payment and/or home closing expenses such as closing costs, prepaid expenses, and discount points. Applicant may not receive cash back in excess of earnest money.

Grant Repayment: Applicant is not expected to repay this grant and there will not be a second mortgage filed against your new home.

Grant Approval: Contingent upon loan approval and successful closing of your home loan with Valor Bank.

Homebuyer Education: Applicants must complete a Homebuyer Education course at no charge prior to grant approval. Only one adult household member must complete the homebuyer education course and be named on the certificate.

Household Grant Availability: Availability is limited to a one-time use per adult household.

Expiration of Eligible Grant: Grant funds will be reserved on a first come, first served basis subject to grant availability. Reserved funds will be held 90-days from the dated Urban Bridge Eligibility Letter. Grant applicant must close on their home within this 90-days or risk losing the reserved funds.

The amount of the grant cannot exceed the amount of the down payment and closing costs. One applicant per loan request may be required to attend homebuyer education. A majority minority census tract is a census tract in which more than 50% of the residents are identified as a minority per the most recent US Census data. Consult with your tax advisor about taxable income. NMLS #746723

By giving to The CARE Center, Valor Bank aids in their mission to help children find their voice and begin to heal after abuse as well as preventing child abuse through education.

Valor’s assistance has helped provide tangible items such as beds, car seats, high chairs, and strollers for Oklahoma’s most vulnerable children.

The Valor Bank Executive Boardroom in the new Bridge Impact Center serves as a staff, board, and partner meeting space, as well as an area for group therapy sessions. Valor has also been able to assist them in helping meet basic life needs.

Valor Bank is able to provide support to efforts such as housing and home repair, school and student support, sustainable food and youth job training, adult economic development, and more.

By partnering with Peaceful Family Oklahoma, Valor Bank has been able to sponsor many fundraising events raising money for Peaceful Family Oklahoma’s annual budget.

Valor Bank has been able to provide meals to homebound elderly and disabled residents in Edmond.

Valor Bank’s donation helped Positive Tomorrows purchase curriculum and support their general fund while also inspiring others in the community to give.

By partnering with Wings, Valor Bank was able to sponsor a campus event raising money for Wings’ annual budget.

Valor Bank’s donation helped provide food, diapers, blankets, clothing, wipes, formula and more for babies and toddlers in need of emergency assistance.

By partnering with the HOPE Center of Edmond, Valor Bank was able to help feed people and cover rent and utility bills for families.

With Valor Bank’s donation, the Project 66 Food & Resource Center was able to complete the construction of a new grocery storage room to adequately stock shelves with food.

Valor Bank made it possible for Warriors for Freedom to help additional veterans find the resources they need to be successful in life following their service.