Oklahoma Housing
Finance Agency Offers $41 Million in Below Market Rate Home Loans
OKLAHOMA CITY -
Oklahoma Housing Finance Agency began offering $41 million in below
market rate mortgage loans through its OHFA Advantage program,
September 26. It’s a record fourth issue of home loans for the
agency this year. Available through OHFA are 30-year fixed rate
mortgages set at 5.80 percent. A 6.30 percent rate provides for
three percent down payment assistance.
“Demand for
these low-interest home loans has been through the roof,” said
Dennis Shockley, OHFA executive director. “We have issued another
$41 million to keep up with homebuyers eager to utilize these
rates.”
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 3 percent down
payment assistance.
In addition to
FHA, VA, conventional and USDA loans, OHFA also offers loans through
the Section 184 program, a special initiative for Native Americans.
This allows homebuyers to purchase homes utilizing tribal grant
funds.
“Oklahoma leads
the nation in the number of Section 184 loans closed,” said
Shockley. “We are proud to offer such a valuable program.”
To qualify or for more information, potential homebuyers should
contact a local lender participating in OHFA Advantage, or 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 “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.
#
# #
Toll Free: (800) 256-1489