A new state-funded program is expected to increase affordable housing supply.

New homes and rental properties could hit the Oklahoma market in the next two years if rules for a $215 million state-funded construction loan program are approved by the end of the year, officials said.

The Oklahoma Housing Finance Agency, which will oversee the state’s new Housing Stability Program, is crafting rules to administer it. During a virtual meeting Wednesday, the agency sought suggestions as it works to finalize the program’s rules. The agency serves low-income residents with vouchers for rental assistance, and downpayment and closing costs.

The agency fielded dozens of questions this week, mostly from housing developers but also from hopeful homeowners, who planned to benefit.


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