March 13, 2012
Lawton to Benefit from $220,000 Housing Trust Fund Loan
OKLAHOMA CITY — Oklahoma Housing Finance Agency’s Board of Trustees approved during its March meeting a Housing Trust Fund loan not to exceed $220,000 to Verde Investments. The loan will be utilized to construct one duplex and rehabilitate one existing single-family home in the City of Lawton. Verde Investments will then rent the homes to individuals or families who earn 80 percent or less of area median income.
Administered by OHFA, the Housing Trust Fund provides low-interest loans to finance new construction, conversion of buildings into apartments or homes, rehabilitation projects or infrastructure improvements. The term for the construction loan will be 18 months at a one percent interest rate.
Developers, non-profit organizations, local governments, Indian tribes and political subdivisions are eligible to apply for Housing Trust Fund loans. There is currently $2.7 million available.
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.
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