- Property Owners & Managers
- About OHFA
Providing Housing Resources With an Eagerness to Serve
OHFA Homebuyer Downpayment Assistance offers 30 year, fixed rate, low interest mortgage loans with 3.5% down payment grant assistance to homebuyers in all 77 counties. Homebuyers must meet income, purchase price and credit score guidelines.
The Affordable Housing Tax Credits Program offsets the high cost of rental housing construction and rehabilitation and provides affordable rent rates for low-income families. Tax Credits provide a 10-year reduction in tax liability for developers who construct or rehabilitate affordable rental housing. Developers sell Tax Credits to Fortune 500 companies and other investors. The money obtained from the sale is used to lower financing costs. The end result is lower rent for families. The AHTC Program can be used for new construction and rehabilitation of rental housing for those with limited incomes. Tax credits create partnerships between OHFA and developers who build or rehabilitate affordable apartments or homes.
With this program, OHFA works with non-profit organizations, public agencies, units of local government, tribal governments and political subdivisions to assist low income households with housing needs. HOME encourages local governments and nonprofit housing organizations to build new homes, rehabilitate existing housing or make structural home repairs. HOME is designed to encourage partnerships to fund construction and rehabilitation of affordable housing for low-income families, particularly in rural Oklahoma.
The Section 8 Housing Choice Voucher Program is designed to assist very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market. Since housing assistance is provided on behalf of the family or individual, participants are able to find their own housing, including single-family homes, townhouses and apartments. To serve Oklahoma’s neediest families, OHFA has established two preferences: a homeless preference and a disabled preference. Those meeting these criteria are served before other applicants.
This program allows OHFA’s Section 8 Housing Choice Voucher Program participants to use their voucher for mortgage assistance instead of rental assistance.
The Family Self-Sufficiency (FSS) program is a five-year employment and savings incentive program for families receiving assistance under OHFA’s Housing Choice Voucher program. Participants are linked to various resources that will assist them with acquiring the skills needed for gainful employment.
The Project Based Contract Administration Program provides monitoring and payment services of assisted units to owners of project-based Section 8 properties for the U.S. Department of Housing and Urban Development in Oklahoma.
For-profit and non-profit developers, units of local governments, tribes, and political subdivisions can utilize the Housing Trust Fund to assist in building affordable housing, primarily in rural Oklahoma. It is more flexible in nature than HOME Investment Partnerships Program funds or Affordable Housing Tax Credits. The Housing Trust Fund provides low-interest loans to finance new construction, conversion of buildings into apartments or homes, rehabilitation projects or infrastructure when part of a total development project.
The Multifamily Bond Program provides financing for low and moderate income housing through the issuance of tax exempt mortgage revenue bonds.