Oklahoma Housing Finance Agency Expands Offerings for Homebuyers

Oklahoma Housing Finance Agency Expands Offerings for Homebuyers
Down payment grants now available to current homeowners

FOR IMMEDIATE RELEASE: 

Contact:          Holley Mangham, (405) 419-8222
Reply email: holley.mangham@ohfa.org

 OKLAHOMA CITY – Growing up, Mena Ganesan dreamed of the day she would purchase a home of her own. 

 “This is a dream that I’ve had for a long time,” Ganesan said. “A lot of girls, I think, think about, ‘Oh, I can’t wait to get married.’ I always thought about buying a home.”

 Thanks to a new product in Oklahoma Housing Finance Agency’s OHFA Advantage program, Ganesan’s dream became a reality last month. She received down payment assistance toward the purchase of a home in Oklahoma City’s historic Paseo neighborhood by utilizing an aptly named OHFA Dream down payment assistance grant.

 “It would have taken me probably twice as long to save the money for a down payment had I not had [OHFA Dream], and it would have taken forever,” she said.

 While OHFA has provided down payment assistance to homebuyers across the state since 1980, two key features make OHFA Dream different. 

• The first time homebuyer requirement has been lifted for all qualified buyers.
• OHFA Dream is a grant program, meaning homebuyers never have to repay their down payment assistance.

For Valerie Trammell and her husband Mitch, OHFA Dream could mean a down payment towards building what she calls their forever home. The Trammells currently have an offer on the house in Stillwater that they bought as newlyweds. With a two-year-old daughter and careers in Oklahoma City, the couple now wants to plant roots in Edmond.

“We want to sell our starter home and build a forever home, but do it in a financially sound way,” said Trammell. Down payment assistance would help us reach our goals of building a home to fit our growing family while staying fiscally responsible.”

OHFA Dream may be used in the purchase of a new or existing house, condominium or mobile home. The maximum purchase price is $271,050. Income limits vary by county and family size. A minimum credit score of 640 is required. Potential homebuyers can start the OHFA Advantage process by contacting a mortgage lender within the OHFA network. To find a lender and learn more about the down payment products and requirements, visit www.oklahomahomebuyers.org or call the Homebuyer Hotline, 1-888-937-1122.

As Oklahoma’s largest provider of affordable housing, OHFA offers nine housing programs ranging from “OHFA Advantage” for home ownership to housing development and rental assistance. For more information about OHFA and its programs and services, visit www.ohfa.org. 

 

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 NOTE: Mena Ganesan and Valerie Trammell are available for interviews. Please contact Holley Mangham, (405) 419-8222, to make arrangements.

 

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