Oklahoma Housing Finance Agency
Offers $45 million in Below Market Rate Home Loans
OKLAHOMA CITY –
Oklahoma Housing Finance Agency will offer $45 million in below
market rate mortgage loans through its OHFA Advantage program
beginning January 17. It’s the program’s first issue out of a
projected four issues of mortgage loans in 2007. OHFA offers 30-year
fixed rate mortgages set at 5.69 percent. A 6.14 percent rate
provides for three percent down payment assistance.
“OHFA Advantage
home loans continuously experience high demand because they are some
of the lowest mortgage rates in the entire state,” said Dennis
Shockley, OHFA executive director. “This year we expect to assist
close to 2,000 low and middle income families save money on their
mortgages.”
The OHFA
Advantage program provides low-interest 30-year fixed rate home
loans for qualified buyers in all 77 counties. The two most popular
loan products offered through OHFA Advantage provide three percent
down payment assistance. Last year, 1,824 families utilized $159.1
million in OHFA Advantage loan products, with an average loan amount
of $87,636.
To qualify or for more information, potential homebuyers should
contact a local lender participating in OHFA Advantage. A list of
participating lenders can be found at www.ohfa.org. Potential
homebuyers can also call OHFA at (405) 419-8207 or (800) 256-1489,
ext. 207.
As Oklahoma’s
largest provider of affordable housing, OHFA offers nine housing
programs ranging from a homeless program and rental assistance to
housing development and home ownership. For more information about
OHFA and its programs and services, visit
www.ohfa.org.
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Toll Free: (800) 256-1489