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First-Time Buyer Programs

Find out if you're eligible for an interest-rate reduction on your car loan or a discount on your closing costs.

  • First-Time Auto Buyer Program
    Designed for younger members who’ve had little to no credit and are ready to embark on the purchase of their first car.
  • First-Time Home Buyer Program
    Designed to help members achieve their dream of home ownership while also giving them tools to successfully navigate the process of taking out a home loan

First-Time Auto Buyer Program

Are you ready to buy your first car? We can help save you money by reducing your interest rate. This loan program is designed for our younger members who’ve had little to no credit and are ready to embark on the purchase of their first car.

By completing the requirements of the program, you will receive a rate reduction on your approved auto loan and will be well on your way to establishing your credit history.

Eligibility and program details:

  • Must be 35 years of age or younger
  • Must complete the following training module, available in the Financial Capability Center
  • Limited to one “first time auto buyer” loan per membership
  • Maximum loan amount $25,000
  • Cannot have an auto loan (paid off or open) on credit report
  • New and used auto loans are eligible for the reduced rate
  • Must have at least one year at a full-time job (Unless a college or trade school graduate. Proof required.)
  • Must have trade equity or cash down payment of at least 5% 

If you are already a member, click here to begin the program.

Para el programa en Español, haga clic aquí.

Not a member? Apply now.

QUESTIONS? Call 918-664-6000, select option 2, to speak with a Member Financial Representative.



First-Time Home Buyer Program

If you've never purchased a home or haven't owned a home in the last three years, you qualify as a "first-time home buyer."

Our program is designed to educate potential homeowners about mortgages and factors to consider when buying a home. It will teach you how to read and understand your credit report, and how to budget for housing expenses. Once you complete the program, we'll discount your closing costs to get you into the house that will become your home.*

Eligibility and program details:

  • Have not owned a home in the previous three years
  • Minimum credit score of 680
  • Must occupy the home once purchased
  • Loan maximum $300,000
  • Receive $1,000 discount toward closing costs* 
  • Obtain a certificate of completion from the Financial Capability Center for the following training module:
  • Fixed interest rate loan
  • 100% financing up to the value of the home with no PMI (Private Mortgage Insurance is not required. Typically, if your down payment on a home is less than 20%, you’ll have to pay for mortgage insurance.)
  • Contact Member Services for available loan terms (918-664-6000, ext 380)

If you are already a member, click here to begin the program.

Para el programa en Español, haga clic aquí.

Not a member? Apply now.

QUESTIONS? Call 918-664-6000 ext 380 or email HomeLoans@OklahomaCentral.org.

*Qualifications for First Time Home Buyer program include; Loan balance must be between $90,000 - $300,000 to qualify for the $1,000 discount; have not owned a home in previous three years; minimum credit score of 680; must occupy home purchased; Membership conditions may apply.

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