Buying your first (or next) home can be exhilarating—but too often, the shock of upfront costs like down payments and closing fees puts the dream on hold. If you’ve been searching homes for sale near me in Oklahoma and feeling stuck, there is meaningful support available. One powerful option is the REI Home100 / GIFT100 program, a strong form of closing cost assistance and down payment aid that can open doors for many buyers.

In this guide, we’ll explain how REI Assistance works, how it supports help with buying a home, and why teaming up with a realtor near me like Brian & Jonelle of B&J Co. can make all the difference in your journey.

What Is REI Home100 / GIFT100 Assistance?

REI Home100 (also known as GIFT100) is a nonprofit down payment and closing cost assistance program operated by Rural Enterprises of Oklahoma, Inc. The distinguishing feature? It’s a true gift—you don’t have to repay it.

From the official program summary:

●     The assistance is provided as a gift to the borrower. (There is no repayment obligation.) REI Oklahoma

●     It can be used toward down payment, closing costs, prepaid items, and other lender-required fees. REI Oklahoma+1

●     The percentage of assistance can be 3.5%, 4.0%, or 5.0% of the first mortgage loan amount, determined by the participating lender. REI Oklahoma

●     The program is available to all eligible properties located within the State of Oklahoma. REI Oklahoma

●     Borrower eligibility does not require being a first-time homebuyer. REI Oklahoma

●     The assistance must not be used to pay the difference between sales price and appraised value (i.e. no “gap funding”). REI Oklahoma

●     Funds are table-funded at closing by REI. REI Oklahoma

Because it is not a loan, there are no monthly payments, no interest, and no eventual repayment—so long as all program rules are met.

How Much Help Can You Get?

REI assistance dramatically reduces the cash you need up front. Here’s how those numbers look in practice:

●     On a $150,000 home:

○     3.5% assistance = $5,250

○     5.0% assistance = $7,500

●     On a $200,000 home:

○     3.5% = $7,000

○     5.0% = $10,000

Because this aid covers both down payment and closing costs, many buyers see most (or all) of their cash requirement eliminated.

Eligibility & Requirements

To qualify for REI Home100 assistance, you must satisfy certain criteria, based on the program summary:

●     Credit Score: Minimum required is 640. REI Oklahoma

●     Debt-to-Income Ratio (DTI): Must fall within acceptable limits per the loan product underwriting. REI Oklahoma

●     Income Limits: Borrower must meet income guidelines of the associated first mortgage (FHA, VA, USDA, or conventional). REI Oklahoma+1

●     Property Eligibility: Must be a 1–2 unit property, condominiums, or planned unit developments (PUDs). Co-ops are not allowed, and manufactured homes only if they meet certain lender standards. REI Oklahoma

●     Occupancy: The property must serve as the primary residence.

●     Assistance Use: Funds must be applied to legitimate closing, prepaid, or down payment expenses—not to cover appraisal gaps or speculative value.

Because it’s gift-based, REI requires that the assistance be processed through approved lenders and under strict compliance reviews. REI Oklahoma+1

Loan Types and How REI Works With Them

One major advantage of REI Assistance is that it pairs with standard mortgage types—you don’t have to use a specialized or exotic loan. REI operates with the following:

●     FHA loans

●     VA loans

●     USDA / Rural Development loans

●     Conventional mortgages

The program summary notes that FHA, VA, and Rural Development (USDA) guidelines apply, except as modified by REI’s own provisions. REI Oklahoma

This compatibility makes the program practical for many buyers across Oklahoma.

Because the REI gift can cover up to 100% of a borrower’s required cash to close (down payment + closing costs + prepaid fees), in many cases buyers walk into a closing with little to no out-of-pocket expense. REI Oklahoma

Why Closing Cost Assistance Is Vital

Too many buyers forget just how substantial closing costs can be. Even if you’ve saved enough for a down payment, you may still owe thousands more in fees—title, appraisal, surveys, credit report, lender fees, prepaid taxes, insurance, and more.

With REI’s assistance, those burdens are eased or eliminated. That’s why this program is more than just “nice to have”—it’s a keystone of affordable homeownership.

Example in Action

Here’s how it might play out in the real world in Bryan County, Oklahoma:

●     Home purchase price: $180,000

●     REI gift at 5%: $9,000

●     Buyer’s down payment + closing costs originally estimated: $10,000

●     After applying REI gift: only $1,000 remains

●     A realtor near me like Brian & Jonelle might negotiate with the seller to cover that remaining amount as a concession, making the buyer’s cash to close effectively zero.

This strategy turns homes for sale near me from distant dreams into real possibilities.

Why Work with a Top Texoma Realtor?

Program rules, lender requirements, eligibility checks, seller negotiations—any misstep could disqualify your assistance or delay closing. That’s why working with a top Texoma realtor is crucial.

Brian & Jonelle of B&J Co. bring local knowledge and program expertise:

●     They know which lenders are REI-approved.

●     They help ensure your property choice meets program eligibility.

●     They advise on offer structures that make the most of REI assistance.

●     They walk you through all the documents and compliance steps with clarity and support.

With them, you’re never navigating this alone.

Final Thoughts

The REI Home100 / GIFT100 program is one of Oklahoma’s strongest tools for lowering barriers to homeownership. By providing up to 5% in closing cost assistance and down payment aid, it empowers both first-time and repeat buyers to move toward stability sooner.

If you’re looking at homes for sale near me and worried about the cash you’ll need, it’s time to consider REI Assistance as a core part of your plan. Partnering with a realtor near me like Brian & Jonelle ensures you maximize what the program can do for you—and that you avoid pitfalls.

Let B&J Co. guide you through every step toward owning your dream home.