Oklahoma Housing Finance Agency
Issuing $40 Million for Below Market Rate Home Loans
OKLAHOMA CITY –
Oklahoma Housing Finance Agency’s negotiated sale of $40 million of
mortgage revenue bonds September 25 will finance below market rate
mortgage loans for nearly 500 Oklahomans.
Through its OHFA
Advantage program, OHFA provides low-interest 30-year fixed rate
home loans for qualified buyers in the state’s 77 counties. The two
most popular loan products offered through OHFA Advantage provide
three percent down payment assistance.
“Our fourth
issue this year was made possible by a supplemental allocation from
the State Bond Advisor,” said OHFA Executive Director Dennis
Shockley. “We needed it because demands for funds in our OHFA
Advantage program continue exceeding our supply.”
Sales under the
program in 2007 total $162.5 million. This is the 58th bond issue by
OHFA since it started OHFA Advantage in 1980.
Underwriters for
the bonds are George K. Baum, Merrill Lynch, and BOSC Inc. Bond
counsel is the Public Finance Law Group, and tax counsel is Kutak
Rock. The financial advisor is CSG Advisors. Moody’s Investors
Service rates the bonds Aaa.
As Oklahoma’s
largest provider of affordable housing, OHFA offers 11 housing
programs ranging from “OHFA Advantage” for home ownership to housing
development and rental assistance. For more information about OHFA
and its programs and services, visit
www.ohfa.org.
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Toll Free: (800) 256-1489