The OHFA Single Family Loan Program works directly with participating lenders who will receive your mortgage loan application and evaluate your eligibility for the OHFA Loan that best suites your needs. Our participating lenders are listed on the website for you to explore and chose.   

Basic Criteria for OHFA loan program eligibility:

• Buying a home for your primary residence
• Minimum credit score of 640
• Income that does not exceed $150,000/year
• Total debt to income ratio that does not exceed 45%. 

Homebuyers who receive financial assistance from OHFA to help purchase a primary residence will have a lien in the amount of that assistance placed on the property.  The lien is referred to as a Silent 2nd because there is no interest or fees associated with the amount. OHFA expects the repayment of the 2nd lien when these things occur: 

• Your first mortgage loan reaches maturity or is paid off
• You refinance the home
• You leave the home as your primary residence otherwise change ownership. 

Oklahoma Neighbors who receive OHFA financial assistance to purchase a home and experience at some point a financial hardship, financial crisis and/or have zero equity (value of the home less the amount you owe against the home) are free to write a letter requesting waiver of the repayment of the 2nd lien, provided to their loan servicer (US Bank) for consideration by OHFA. 

Oklahoma homebuyers who purchase a home using  an OHFA loan can receive up to 3.5% of their total loan amount to apply to their down payment and closing cost required for purchase.