Accepting the award on OHFA's behalf included staff members, front row, from left: Emily Myers, Darrell Beavers, Corey Bornemann, Valenthia Doolin, and Chevelle Galbreath. Back row, from left: Tamara Steele, Kristina Nichols, and Holley Mangham.
WASHINGTON, DC — The National Council of State Housing Agencies (NCSHA) has recognized the Oklahoma Housing Finance Agency (OHFA) for its work in creating new homeownership opportunities through the Oklahoma Housing Stability Program.
OHFA received the award Oct. 5 as part of NCSHA's Annual Conference & Showplace, held in Detroit.
Established in 1984, NCSHA’s Annual Awards for Program Excellence identify and elevate industry best practices and encourage continued innovation among housing finance agencies. OHFA was honored with an award in the Homeownership: Encouraging New Construction category.
Judges recognized the state's $215 million investment into this program. They described the three-year deed restriction and the available down payment assistance for homebuyers as “the full package.” The following statement was read as part of the Awards Ceremony:
"When lawmakers made the largest investment in state history to expand housing opportunity, (OHFA) put money to work in a home builder program. Eligible developers can access zero interest, 24-month construction loans for up to ninety percent of total development costs, and home buyers can access OHFA’s DPA program. The first awards will build 455 new homes across 40 developments in 20 counties. Proceeds from each home sold will be used to finance further construction loans."
OHFA credits the program's early success to the commitment of legislative leaders and participating builders.
“The Legislature's historic investment provided the foundation for this program, but its success is being driven by the builders and developers who are putting that investment to work in communities across Oklahoma,” said Holley Mangham, OHFA communications manager. “Together, we are creating new pathways to homeownership and helping more Oklahoma families achieve the dream of owning a home.”
As construction loans are repaid, the funds will be recycled into future developments, allowing the program to continue creating new homeownership opportunities across Oklahoma.
