Advantage Bond Program

This program is for low to moderate income families who are looking to buy their first house. This is a great tool for anyone who fits in their income brackets. The areas in Oklahoma are divided by targeted and non-targeted areas. Targeted areas are established by the U.S. Department of Treasury to try and increase home ownership in these areas. With this said, the income amounts increase for targeted areas. OHFA works statewide with lenders to provide low interest home loans. They also offer their most popular loan which assists with down payment and closing costs. These interest rates are below market rate loans. With the Advantage Bond Program Lenders are not allowed to charge points which makes closing clost decrease! The projected opening for this program is September 23, 2008. Government loan products are the only loan types accepted. This program is great and opens up more opportunity for low income families!!!! If you have more questions please feel free to contact us at belcherteam.com.