The Oklahoma Housing Stability Program (HSP) provides development loans for the new construction of single-family homes and for single and multifamily rental housing.
Oklahoma Governor Kevin Stitt signed emergency rules for the program on January 25, 2024.
Development applications for the Oklahoma Housing Stability Program will be accepted beginning Monday, January 29.
Via a rigorous application process, the Oklahoma Housing Stability Program will grant loans to developers, facilitating the creation of new for-sale and rental homes throughout the state.
The Oklahoma Homebuilder Program offers $100.7 million in available funds for the new construction of single-family homes for purchase.
The Oklahoma Increased Housing Program offers $63.55 million in available funds for the new construction of single and multifamily rental homes.
Applications received by the due date will be considered at the next meeting of the Board of Trustees as indicated.
Additional Consumer Down Payment and Closing Cost Assistance
The Oklahoma Housing Stability Program will offer $40 million for Consumer Down Payment and Closing Cost Assistance. This program benefits individuals and families purchasing homes as their primary residence in Oklahoma. Grants of 5% of the total loan amount for down payment and closing costs will be made available to buyers purchasing homes produced by the Oklahoma Homebuilder Program.
Existing Down Payment and Closing Cost Assistance