Oklahoma Program Highlights
OCHFA DPA
OCHFA DPA | At-A-Glance
| AVAILABLE PROGRAMS | OCHFA DPA Program |
| QUESTIONS | Questions |
| ELIGIBLE AREA | Oklahoma County, OK |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement |
| RATES | See Chart |
| DPA AVAILABLE | See Chart |
| LOAN TYPE | See Chart |
| DPA INCOME LIMITS | Income Limits |
| PURCHASE LIMITS | New or Existing Properties $510,939 Must include everything paid by the buyer or on the buyer’s behalf. |
| TIMELINE REQUIREMENTS | 60 days from Reservation to Loan Purchase. Underwriter Certification anytime before closing. |
| HOMEBUYER EDUCATION | Homebuyer Education |
| CO-SIGNORS | Co-Signer is permitted by the program subject to the Lender following all applicable loan agency and US Bank guidelines. |
| DPA PROGRAM GUIDELINES | DPA Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
OCHFA MCC
OCHFA MCC | At-A-Glance
| AVAILABLE PROGRAMS | OCHFA MCC Program |
| QUESTIONS | Questions |
| ELIGIBLE AREA | Oklahoma County, OK |
| ELIGIBLE BORROWER(S) | Buyers and their spouses (occupant and non-occupant spouse included a non-purchasing spouse) must be first-time buyers. |
| LOAN TYPE | FHA, VA, and conventional loans acceptable to Fannie and Freddie that are 30 year, fixed-rate market loans. No adjustable rate, balloon, interest only products are permitted. Stated income loans are not permitted. |
| INCOME & PURCHASE PRICE LIMITS | MCC Income and Purchase Price Limits |
| TIMELINE REQUIREMENTS | Underwriter Certified within 15 days of MCC reservation in eHPortal. MCC Compliance File delivered to eHP within 10 days post-closing. |
| HOMEBUYER EDUCATION | MCC Homebuyer Education |
| CO-SIGNERS | Non-occupant co-signer allowable. The co-signer is essentially a loan guarantor only. They cannot take any ownership interest, so they cannot be on Title, Deed or the Mortgage. They will only sign the Note. Non-occupant co-borrowers are prohibited. |
| MCC PROGRAM GUIDELINES | MCC Program Guidelines |
| PRE-CLOSING FORMS | Notices to Buyers and Recapture Tax Brochure |
| TARGETED AREA MAPS | MCC Targeted Area Maps |
| PARTICIPATING LENDERS | Participating Lenders |
Today’s Rates & Offerings
Oklahoma County, Turnkey PLUS | Rates & Offerings
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[Business Days 9:00am - 7:00pm CT] |
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|---|---|---|---|---|
| GOVERNMENT | ||||
| Offering | FICO | DPA | Lock Rate | |
| FHA, USDA, VA | 660 | 0% | 5.375% | |
| FHA, USDA, VA | 660 | 2% | 6.000% | |
| FHA, USDA, VA | 660 | 3.5% | 6.625% | |
| FHA, USDA, VA | 660 | 5% | 7.250% | |
| CONVENTIONAL – HFA Advantage – Freddie Mac 80% AMI | ||||
| Offering | FICO | DPA | Lock Rate | |
| Freddie Mac 80% AMI | 640 | 0% | 5.750% | |
| Freddie Mac 80% AMI | 640 | 2% | 6.250% | |
| Freddie Mac 80% AMI | 640 | 3.5% | 6.750% | |
| Freddie Mac 80% AMI | 640 | 5% | 7.375% | |
OCHFA DPA
OCHFA DPA | At-A-Glance
| AVAILABLE PROGRAMS | OCHFA DPA Program |
| QUESTIONS | Questions |
| ELIGIBLE AREA | Oklahoma County, OK |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement |
| RATES | See Chart |
| DPA AVAILABLE | See Chart |
| LOAN TYPE | See Chart |
| DPA INCOME LIMITS | Income Limits |
| PURCHASE LIMITS | New or Existing Properties $510,939 Must include everything paid by the buyer or on the buyer’s behalf. |
| TIMELINE REQUIREMENTS | 60 days from Reservation to Loan Purchase. Underwriter Certification anytime before closing. |
| HOMEBUYER EDUCATION | Homebuyer Education |
| CO-SIGNORS | Co-Signer is permitted by the program subject to the Lender following all applicable loan agency and US Bank guidelines. |
| DPA PROGRAM GUIDELINES | DPA Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
OCHFA MCC
OCHFA MCC | At-A-Glance
| AVAILABLE PROGRAMS | OCHFA MCC Program |
| QUESTIONS | Questions |
| ELIGIBLE AREA | Oklahoma County, OK |
| ELIGIBLE BORROWER(S) | Buyers and their spouses (occupant and non-occupant spouse included a non-purchasing spouse) must be first-time buyers. |
| LOAN TYPE | FHA, VA, and conventional loans acceptable to Fannie and Freddie that are 30 year, fixed-rate market loans. No adjustable rate, balloon, interest only products are permitted. Stated income loans are not permitted. |
| INCOME & PURCHASE PRICE LIMITS | MCC Income and Purchase Price Limits |
| TIMELINE REQUIREMENTS | Underwriter Certified within 15 days of MCC reservation in eHPortal. MCC Compliance File delivered to eHP within 10 days post-closing. |
| HOMEBUYER EDUCATION | MCC Homebuyer Education |
| CO-SIGNERS | Non-occupant co-signer allowable. The co-signer is essentially a loan guarantor only. They cannot take any ownership interest, so they cannot be on Title, Deed or the Mortgage. They will only sign the Note. Non-occupant co-borrowers are prohibited. |
| MCC PROGRAM GUIDELINES | MCC Program Guidelines |
| PRE-CLOSING FORMS | Notices to Buyers and Recapture Tax Brochure |
| TARGETED AREA MAPS | MCC Targeted Area Maps |
| PARTICIPATING LENDERS | Participating Lenders |