As a way to thank teachers and first responders for their service, Oklahoma Housing Finance Agency wants to make homeownership more affordable. Through its OHFA 4 Teachers and OHFA Shield products, OHFA now offers a lower interest rate to these professionals.
By using the OHFA 4 Teachers and OHFA Shield products, buyers will receive a .25 percent lower interest rate than for other OHFA Gold products. The OHFA 4 Teachers and OHFA Shield products will be reduced by a quarter percentage point, which means thousands of dollars in savings over the life of the loan.
Qualified first-time homebuyers will also receive 3.5 percent downpayment assistance toward their total loan amount.
“Oklahoma teachers and first responders work each day to improve the communities where they work,” said OHFA executive director Deborah Jenkins. “OHFA 4 Teachers and OHFA Shield make it more affordable for them to purchase homes in these communities.”
To qualify, buyers must contact an OHFA Homebuyer Downpayment Assistance lender. Credit score, income and purchase price requirements apply. For more detailed information and a listing of lenders, visit www.ohfadownpayment.org.