On August 3, OHFA received clarification from the State that the term "gap financing, " used in HB 1031x for the Oklahoma Increased Housing Program, does not allow program funds to be granted.
HB 1031x Statute. Therefore, the structure of this program has substantially changed from grant funding to loan funding. Grants for down payment/closing cost assistance are still an allowed use and the structure of that proposed program remains unchanged. Please see the revised White Paper and Application posted to OHFA’s website on August 4 for additional details.