Additional Down Payment Assistance Available
Homebuyers purchasing homes built through the Oklahoma Housing Stability Program may utilize an additional 5% in down payment assistance.
OKLAHOMA CITY—OKLAHOMA CITY—At its Jan.21 meeting, the Oklahoma Housing Finance Agency Board of Trustees approved awards for the HOME Investment Partnerships Program and the Oklahoma Housing Stability Program.
The Oklahoma Housing Stability Program (HSP) provides 0% interest construction loans for the new construction of single-family homes and for single and multifamily rental housing. Trustees voted to award construction loans to three entities as part of the HSP Oklahoma Homebuilder Program. Once constructed, the resulting single-family homes will be available for purchase.
Trustees awarded $7.6 million to the following entities for new construction during this round:
• Green Country Habitat for Humanity - 12 houses in Wagoner, Wagoner County
• PJSOZI, Inc. - 25 houses in the Wallace Meadows Addition in McAlester, Pittsburg County
• Craft Homes, LLC - eight homes in Buck Crossing in Guthrie, Logan County
OHFA offers 5% down payment assistance to buyers who purchase houses built through this program.
The HSP Oklahoma Increased Housing Program provides for the new construction of multifamily rental units. Trustees awarded $9 million to the following entities:
• Helm Rental Properties, LLC - 20 units in Stilwell, Adair County
• Bravo Ridge Development Group, LLC - 15 units in Davis and Sulphur in Murray County
• Universal Development Enterprises, LLC - 20 units in Oklahoma City
• STAR Living, Monkey Island - 20 units in Bernice, Delaware County
Application Materials for Future Awards
As part of the meeting, trustees also approved application materials for future financing. The next application deadline is February 19.
For more information about the Oklahoma Housing Stability Program, visit ohfa.org/housingstability.
