Bootcamp For Buyers

Oklahoma OHFA 4Teachers Program

The Oklahoma OHFA 4Teachers Program, offered by the Oklahoma Housing Finance Agency (OHFA), is specifically designed to assist educators in achieving affordable homeownership. By providing competitive mortgage rates and down payment assistance, the program helps teachers reduce financial barriers to homeownership while promoting community stability.

Benefits

  • Offers 30-year fixed-rate mortgages with competitive interest rates, ensuring predictable and stable monthly payments.
  • Provides up to 5% of the loan amount in down payment and closing cost assistance, significantly reducing upfront costs for educators.
  • Available exclusively to certified full-time teachers employed in the state of Oklahoma.
  • Assistance is structured as a forgivable loan, with no repayment required if the buyer resides in the home for a specified period.
  • Can be paired with other OHFA programs for enhanced financial support and flexibility.

Eligibility Requirements

  • Applicants must be certified full-time teachers employed in Oklahoma.
  • Income limits apply and vary based on household size and the location of the property within Oklahoma.
  • The property must be located in Oklahoma and used as the buyer’s primary residence.
  • A minimum credit score of 640 is required, with lender-specific underwriting criteria also applicable.
  • Participants must complete a homebuyer education course approved by the Oklahoma Housing Finance Agency.

Additional Information

The Oklahoma OHFA 4Teachers Program is a vital resource for educators seeking to achieve affordable and stable homeownership. By offering financial assistance and affordable mortgage options, the program empowers teachers to invest in their futures while contributing to the strength and stability of Oklahoma’s communities. Administered by the Oklahoma Housing Finance Agency, this initiative supports sustainable homeownership across the state.