ohfa - oklahoma housing finance agency
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Oklahoma Housing Finance Agency
Providing Housing Resources With an Eagerness to Serve
OHFA Homebuyer Downpayment Assistance
Lender Resources
| Downpayment Assistance Rates | |||||||
| April 20, 2018 | |||||||
| Current Interest Rates as of 10:00 AM | |||||||
| Rates subject to change at anytime based on daily market. | |||||||
| Product | Rate | Assistance/ Down Payment | Origination | Discount | |||
| GOLD | 4.750% | 3.50% | 0% | 0% | |||
| DREAM GNMA | 5.500% | 3.50% | *1% | 0% | |||
| DREAM GNMA | 6.250% | 5.00% | *1% | 0% | |||
| DREAM FNMA | 5.625% | 3.50% | *1% | 0% | |||
| DREAM FNMA | 6.125% | 5.00% | *1% | 0% | |||
| Conventional Interest Rate is only using FNMA HFA Preferred Product and FHLMC Home Possible guidelines | |||||||
| *Origination 1% is lenders option | |||||||
Census Tracts
Product Manuals - Updates coming soon.
- GOLD-FHA,VA & RD
- DREAM FNMA-HFA Preferred
- DREAM GNMA-FHA,VA & RD
Product Purchase Price, Income & Loan Review Documents
Dream
PURCHASE PRICE & INCOME LIMITS
CERTIFICATION & APPROVAL DOCUMENTS
To be provided to Lender from OHFA at approval:
- Dream Certificate/Income Statement
- OHFA Approval/Award Letter
- OHFA Gift/Grant Letter
CLOSING DOCUMENTS
To be provided to OHFA within 5 days of loan closing:
- Closing Disclosure (Executed CD – Signed by Buyer(s) and Seller(s))
- OHFA Gift/Grant Letter (Executed OHFA Gift/Grant Letter – Signed by Buyer(s))
Note: Review documents are legal size. Please adjust your printer to print on legal size paper.
GOLD
PURCHASE PRICE & INCOME LIMITS
All documents can be filled in, then printed.
CODE COMPLIANCE DOCUMENTS
- Consolidated Review Checklist
- Mortgage Loan Summary
- Mortgagor Affidavit and Certification (Part 1 - Representations and Warranties)
- Mortgagor Affidavit and Certification (Part 2 - Acquisition Cost Worksheet)
- Mortgagor Affidavit and Certification (Part 3 - Income Worksheet)
- Mortgagor Affidavit and Certification (Part 4 - Supplemental Agreement and Certification)
- Notice to FHA Buyers
- Notice to Veterans
- Notice of Potential Recapture Tax - Part I
- Lender Compliance Certificate
- Seller(s) Affidavit and Certification
- Real Estate Broker's Certification
CLOSING DOCUMENTS
- Closing Checklist
- Notice of Potential Recapture Tax - Part II
- Mortgagor Affidavit and Certification (Part 5 - Reaffirmation of Mortgagor)
- Tax-Exempt Financing Rider
- Tax-Exempt Financing Rider (Conventional)
To be provided to OHFA within 5 days of loan closing:
- Closing Disclosure (Executed CD – Signed by Buyer(s) and Seller(s))
- OHFA Gift/Grant Letter (Executed OHFA Gift/Grant Letter – Signed by Buyer(s))
Note: Bond documents are legal size. Please adjust your printer to print on legal size paper.
OHFA Homebuyer Down Payment Assistance Regulations
Code Compliance
Bonus Income
Sellers
Power of Attorney
Married/Divorced Borrowers
Co-Signor
Gross Monthly Income
First-time Home Buyer Status
Reservations and OHFA Internet
Internet Users
Canceling a Reservation
Re-reserving a Cancelled Loan
Changing a Loan
Most Common Deficiencies
Training
Presentation
