A newly implemented state program will infuse more than $163 million into Oklahoma communities with the construction of new for-sale and rental homes. This brand-new program provides twoyear, 0% interest construction loans for the following purposes:• Oklahoma Homebuilder Program - new construction of singlefamily homes for purchase• Oklahoma Increased Housing Program - new construction of rental housing Application materials and program requirements are located at www.ohfa.org/housingstability.The Oklahoma Housing Finance Agency (OHFA) has been named by the Oklahoma Legislature as program administrator.“The construction of new homes is vital not only for meeting housing needs but also for fostering stronger, more vibrant com- munities across Oklahoma,” said Deborah Jenkins, OHFA executive director.OHFA is now accepting development applications until May 16 for consideration at the July 24 meeting of the OHFA Board of Trustees. Subsequent application deadlines for 2024 include July 25, Sept. 19, and Nov. 21.Once homes are constructed, the Oklahoma Housing Stability Program will offer $40 million for Consumer Down Payment and Closing Cost Assistance to buyers purchasing these homes. This benefit will complement OHFA’s existing down payment assistance products for first-time and repeat homebuyers.
