Oklahoma Housing Finance Agency

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Oklahoma Housing Finance Agency
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OHFA AdvantageMortgage Revenue Bonds

• OHFA works with 200 originating lenders to
  provide 30-year fixed-rate home loans
• Interest rates are low and down payment
  assistance is available.
• Eligibility is determined by family income limits
  and purchase price limits, set at the federal
  level
• Issue bonds 2-4 times a year 70-125 million

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Affordable HousingTax Credits

• Federal Ten Year Tax Credits for profit and not
  for profit developers to create affordable rental
  housing
• Can be used for new construction or
  rehabilitation
• Units must remain affordable for 15-30 years

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HOME Program

• OHFA is the designated State HOME agency
• Funds can provide development costs provide
  assistance for home purchase or rehabilitation
  or assist low income renters
• HOME allocates funding to non-profits, local
  governments, tribal entities, political
  subdivisions, and CHDOs
• Administered by OHFA everywhere except Oklahoma
  City, Tulsa, Lawton and Norman

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Housing Trust Fund

• Can be used for
• New construction rental or homeownership units
• Acquisition/rehabilitation or conversion
• Housing infrastructure
• 18 month construction loans capped at 500,000
• For profit and non-profit entities
• Up to 75 may go to rural areas and no less than
  25 to Oklahoma and Tulsa Counties

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Linked Deposit

• Selected by former State Treasurer Robert Butkin
  as the "Certifying Agency" for the Oklahoma Rural
  and Affordable Housing Linked Deposit Act
• Provides low-interest loans of up to 2 million
  each to qualified housing developers to construct
  single-family and multi-family housing at 3
  below market

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Rental Assistance(Section 8 Housing Choice
Voucher Program)

• OHFA assists 8,400 families each year with rental
  assistance
• Helps those on a limited income by paying a
  portion of their rent
• Qualified families may also participate in Family
  Self-Sufficiency and Section 8 Homeownership
  Programs

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Other OHFA Programs

• Project Based Contract Administration for HUD
• Housing Opportunities for People with AIDS
• Homeless Program
• Currently working with OEM to provide assistance
  to hurricane evacuees.

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For More Information

• Visit OHFAs website www.ohfa.org