Saving for the down payment and/or closing costs can be one of the biggest hurdles many people face when purchasing a home. To help home buyers attain homeownership, REI Down Payment Assistance offers REI CHOICE100 and REI Gift100, two options that allow you to offer closing cost and down payment to your borrower.
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	<li><strong><a title="Choice100 Program" href="http://reidownpayment.org/lenders/choice100-program/">REI CHOICE100 </a></strong><a title="Choice100 Program" href="http://reidownpayment.org/lenders/choice100-program/">(click for more info)</a></li>
</ul><strong>Down Payment and Closing Cost Assistance - Fannie Mae My Community Mortgage Loans</strong>

The REI Choice100 program is just that, it provides you with numerous choices and types of assistance for your borrowers. The program is utilized with Fannie Mae's 95% My Community Mortgage loan. We have structured the program to provide the borrower with a second mortgage of 5% along with the choice to pay a higher interest rate and receive an additional 2% or more in assistance. As the borrower's lender, you can advise them of the different choices available to them and what will be best for their situation.

This program can also be used for a rate/term refinance of existing loans. Any loan that is refinanced must prove a demonstrable benefit to the borrower (i.e. lower payments, term, or interest rates). Cash out refinances are not eligible.
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	<li><a href="http://reidownpayment.org/lenders/gift100/"><strong>REI Gift100 </strong>(click for more info)</a></li></ul>
<strong>Down Payment and Closing Cost Assistance</strong>

REI Down Payment Assistance invests in Oklahoma’s future by providing housing opportunities to low income individuals and families. The new statewide REI Gift100 Program provides a competitive first mortgage and down payment and closing cost assistance to eligible mortgagors. The down payment is in the form of a gift, second liens or deed restrictions are not required for this program. The program includes the following loan types:
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	<li>FHA – 203(b), 234(c) &amp; 203ks (lenders must have an additional approval from U.S. Bank to originate 203ks loans) – 30 year fixed rate</li>
	<li>VA – 203(b) &amp; 234(c) – 30 year fixed rate</li>
	<li>Rural Housing Guaranteed Loan – 30 year fixed rate</li>
	<li>HUD Section 184 – 30 year fixed rate</li>
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Rate/term refinance on any of the above loan products.<strong>
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