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Oklahoma State Bond Money Available for First-Time Home Buyers

September 28, 2012 By 2 Comments

State Bond Money Available for Oklahoma First-Time Home Buyers

the price is right logoOHFA Homebuyer Programs

It’s a great time to buy a home in Oklahoma! OHFA is here to help Oklahomans achieve their dreams of homeownership.

The Oklahoma Housing Finance Agency offers loan programs for individuals and families who want to buy an affordable home.

The OHFA Advantage program offers state bond money. Designed for moderate income individuals and families, OHFA Advantage offers home loans through lenders all across Oklahoma.

OHFA announced September 28, 2012 that their interest rate is dropping from 4% to 3.5% effective for new reservations. Here are a few highlights of the bond program:

  • Minimum 640 Credit Score
  • 30 Year Fixed Rate
  • 3.5% Silent Second Mortgage, behind an FHA 1st mortgage of 96.5% ($0 Down)
  • 6% Seller Concessions toward Buyer’s Closing Costs
  • 5 Year Occupancy Requirement
  • Could not have owned any other real estate in the past 3 years, unless purchasing in a targeted zone
  • Eligible across the entire state of Oklahoma
  • No manufactured homes or foreclosures allowed
  • Maximum $189,682 sales price
  • Maximum income for Tulsa County:
    1 to 2 person family: $60,400
    3+ person family: $69,460

If you are interested in taking advantage of the State Bond Money Available for Oklahoma First-Time Home Buyers, contact me for a list of participating Lenders!

And do start your home search here  or contact me to set up a custom search for you! 918-852-5036

About Lori Cain

Lori Cain has written 1193 post in this blog.

Tulsa Realtor serving the greater Tulsa area and specializing in midtown Tulsa real estate. Married to best friend, Demetrius Bereolos and mom to pups Theo, Penny and Osage. Great chef, community leader!

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Filed Under: Home Buyers

Comments

  1. Erika Rogers says:
    December 20, 2012 at 3:17 am

    Hi there Lori,

    Thanks for sharing this article regarding OHFA Homebuyer Programs.
    This program is a definite help for Oklahoma first time buyer. This article also
    highlights the requirement for availing such program. Hope to have more blogs
    like this in the future.

    Erika Rogers
    Re/Max First Realty

  2. tyler roberts says:
    January 6, 2013 at 9:33 pm

    Help I need a subprime lender. I’m have a house in sand springs I would love to buy at full price and 5% down payment if that’s what it meant to get the home.
    Any help would be awesome!

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