OHFA 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 hereor contact me to set up a custom search for you! 918-852-5036
Copyright 2012 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain
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Please visit my web site if you are shopping for Tulsa homes for sale or call 918-852-5036 for more information about Midtown Tulsa Real Estate. In addition to my advanced grasp of the internet to market your Tulsa home for sale, I include a home staging consultation with every listing AND professional photography - at no aditional cost to you!
Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area and specializing in downtown Tulsa and midtown Tulsa real estate.