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Oklahoma: Low-Interest Loans
The Oklahoma Housing Finance Agency (OHFA) has $36 million available for low-interest home loans through OHFA Advantage, a statewide affordable home loan program. Some $3 million has been set aside for "OHFA 4 Teachers," an innovative program designed to make it easier for underpaid but critically needed teachers to become homeowners. Rates are at 6 percent interest for 30-year fixed-rate loans, and include 4 percent down payment assistance. Loans can be FHA, VA, USDA/RD or conventional.

For more information, call OHFA at (405) 419-8207 or (800) 256-1489 x 207, or visit www.ohfa.org.
[Published in News from the Districts, Community Developments, Spring 2003]

Oklahoma's Business Tax Credit
Oklahoma's small business tax credit program provides a 20 percent tax credit for urban and 30 percent for rural small business investments. Investments made under the state's Small Business Capital Formation Incentive Act yield tax credits that serve as prepayments against future state taxes. Credits may be carried forward for up to 10 years. There are no recapture requirements. Qualified investments may be made through December 31, 2004, and must fund equity and near-equity funding to small businesses in specified industries.

For more information, contact the Oklahoma Department of Commerce at (405) 815-5143.
[Published in News from the Districts, Community Developments, Fall 2002]

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