Additional Down Payment Assistance Available
Homebuyers purchasing homes built through the Oklahoma Housing Stability Program may utilize an additional 5% in down payment assistance.
At its Sept. 24 meeting, the Oklahoma Housing Finance Agency Board of Trustees approved awards that will lead to the development of for-sale and rental housing across the state.
Oklahoma Housing Stability Program
OHFA trustees approved Oklahoma Housing Stability Program 0% interest construction loans through both the Oklahoma Homebuilder Program and the Oklahoma Increased Housing Program.
Through the Oklahoma Homebuilder Program, Central Oklahoma Habitat for Humanity will build 91 homes in its Cornerstone Creek addition.
Loans made through the Oklahoma Increased Housing Program will lead to the new construction of the following rental developments:
- Cramton Construction, Inc. - 13 units in Duncan Duplexes, phase 1 and 13 units in Duncan Duplexes, phase 2 in Duncan, Stephens County
- Chess Development, LLC - 24 units in Chess Cottages in Guthrie, Logan County
- LW Development, LLC - 28 units in Highland Trails II in Marietta, Love County
- Incorp USA Enterprise, LLC - six units in Summit Villas in Lawton, Comanche County
Multifamily Bond/ 4% Affordable Housing Tax Credits
OHFA’s Multifamily Bond and 4% Tax Credit program provides developers a financing tool to help build, rehabilitate and finance large-scale apartment communities and rental homes.
- Rose Creek Apartments - new construction of 125 units in Edmond, Oklahoma County
- The Hilltop - new construction of 107 units in Tulsa, Tulsa County
National Housing Trust Fund
The National Housing Trust Fund (NHTF) provides affordable housing options for individuals and families who are low and very-low income, including those who are experiencing homelessness. Awardees include:
- Gatesway Foundation, Inc. - new construction of 14 multifamily rental units in Broken Arrow, Tulsa County
Trustees approved the following grantees, contingent on approval of Affordable Housing Tax Credits at their November meeting:
- Parkland Townhomes, LLC - rehabilitation and new construction of five single family rental homes in Prague, Lincoln County
- Hillcrest Townhomes, LLC - new construction of four single family rental homes in Okemah, Okfuskee County
- Villas at Lions Court II, LP - new construction of four multifamily rental units in Blanchard, McClain County
