Special Interest Rate Programs

Special Rates for Teachers, First Responders, and State Employees
Oklahoma Housing Finance Agency offers a special interest rate for qualified buyers working in specific professions. Ask about qualifying for one of these products by contacting one of the Oklahoma Housing Finance Agency Homebuyer Down Payment Assistance participating lenders. Additional information can also be obtained from our participating lenders by CLICKING HERE.

Any new or existing home may be purchased. Homes may be located anywhere in the State of Oklahoma.

Oklahoma Housing Finance Agency 4TEACHERS – Borrower must hold a current Oklahoma State Department of Education Teaching Certificate. Borrower must be currently under contract with any Oklahoma Accredited Public School and/or Private/Parochial School.

Oklahoma Housing Finance Agency SHIELD – Firefighter – Borrower must be currently employed as a firefighter with a fire department of an Oklahoma municipality or representing a volunteer department as a volunteer firefighter.

Oklahoma Housing Finance Agency SHIELD – Law Enforcement – Includes individuals currently employed in law enforcement by an Oklahoma municipality or individuals that serve as volunteer law enforcement officers or reserve law enforcement officers; and are CLEET certified (police officers, patrol officers, sheriffs and other government law enforcement agency personnel).

Oklahoma Housing Finance Agency SHIELD – Emergency Medical Services – Borrower must be currently employed by an EMS provider. This includes EMTs and Paramedics.

Oklahoma State Employees – Borrower must be currently employed by an Oklahoma State Agency.

Product Details

May be used for homes located in the State of Oklahoma
The home must be used as the borrower’s primary residence
Purchase Price: $294,600
Down Payment Assistance (DPA):
3.5% DPA calculated on Total Loan Amount and/or Note

Income Requirements:
Annualized Household Monthly Income of individuals that will reside in the property over the age of 18
Income is based on county
Income is based on family size
(Income Range: $65,500-$113,540 depending on these factors)
Debt to Income Ratio (DTI):
Maximum DTI not to exceed 45% for Government and Conventional loans

Credit Score:
Middle Score of 640 or above

Buyer Eligibility Requirements

Must reside in the State of Oklahoma.
Must meet total gross household income and purchase price limits. First time homebuyer requirements apply in certain areas.
Must meet standard mortgage underwriting requirements which demonstrate credit worthiness through a participating lender.
Must occupy the purchased home as their primary residence.