Tulsa County HFA

Tulsa County Home Finance Authority – Turnkey Mortgage Origination Program
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS

Tulsa

TULSA COUNTY HOME FINANCE AUTHORITY

Lender/Program Portal

PROGRAM FUNDS
  • Program funds are available first-come, first-served from a continuously funded revolving pool.
  • RESERVATIONS LOCKS are available on business days between 9 am & 7 pm (10 am-8 pm EDT);
  • All other functions available 24/7
ELIGIBLE AREAS
  • Tulsa County
LOAN TIME LINE REQUIREMENTS DO NOT RESERVE EARLY: 

  • Reservation to UW Certification: 15 days (cancelled if not certified)
  • Reservation to Closed AND Delivered: 45 days
  • Reservation to Loan Purchase: 70 days
ELIGIBILITY CRITERIA
  • No First-Time buyer requirement
  • Must be Principal Residence
  • Must occupy within 60 days of closing
ELIGIBLE LOAN TYPES
  • Conventional – Freddie Mac HFA Advantage 
  • Government – FHA, VA, USDA-RD
DPA
  • Non repayable grant
  • Multiple DPA options – see Rates/Offerings Tab for details
INCOME LIMIT CRITERIA
  • Household income = 1003 Credit Qualifying Income (not co-signor’s)
  • Maximum Income Limit = $82.880
HOME ACQUISITION LIMITS
  • $214,925
HOME BUYER EDUCATION
  • The Authority recommends but it is not required.
FICO/DTI REQUIREMENT
  • FICO – Mid score – see guidelines
  • DTI – Max DTI ratio is 45%
CO-SIGNERS
  • Permitted for FHA loans, use FHA guidelines
  • May NOT have a ownership interest
  • May NOT reside in the residence
FORMS AND DOCUMENTATION
  • Online, once logged in to eHP system.
THE AGENCY
  • Issues the First Mortgage Program and Down Payment Assistance Program,
  • Sets the rate, term, points and DPA options
  • Lender relationships
  • Markets the Program
THE LENDER
  • Take application for the program, Reserves first mortgage in eHousingPlus system
  • Responsible meeting Time Lines
  • Process, Underwriter, Certify, Fund, Close and Sell qualified loans to the Program Master Servicer, Responsible for servicing loans until loan is purchased by the Master Servicer
THE MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • Contact US Bank Lender Help Desk, Click here.
EXTENSION
  • To request a one-time 30-day extension, click here.
  • Extensions are not granted to extend the 15 days from Reservation to UW Certification

 Current Rate/Offerings Reservation/locks – AVAILABLE from 9:00am-7:00pm Central (10-8 EDT excluding weekends & holidays) 

Rate/Offerings FICO Lock Rate DPA Effective Date
 GOVERNMENT
USDA-RD or VA 640 4.875% 3.5% 3/20
FHA 660 3.5%
FHA 640-659 2.5%
 
USDA-RD or VA 640 5.50% 5% 3/2
FHA 660 5%
FHA 640-659 4%
 
 CONVENTIONAL – FREDDIE MAC
HFA Advantage   640 5.125% 3.5% 3/22
5.625% 5% 3/6

 

 

  • All Loans are Assisted Rate Loans
  • 30 Year, Fixed Rate, Amortized
  • Non repayable grant 
  • based on the final loan amount
  • funds requested prior to closing
  • manufactured homes not allowed 
  • manual UW not allowed 

 

eHousingPlus is the Program Administrator, and provides some of the following services:
        Administrator Guidelines (3/3)       Administrator's Guidelines 6/9 6/16

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click here

 Program Sample Forms form        

The Following Lenders have been approved to originate loans in this Program:

The following is a list of Approved Lenders

  • American Southwest Mortgage Corp
  • Associated Mortgage Corporation
  • Bank of Oklahoma (BOKF)
  • Fairway Independent Mortgage
  • First Mortgage Company
  • First Oklahoma Mortgage a Division of Oklahoma Bank
  • Gateway Mortgage Group
  • Great Plains National Bank
  • Midfirst Bank
  • PrimeLending
  • PrimeSource Mortgage
  • Prosperity Bank
  • Spirit Bank
  • United Bank, FSB
  • US Mortgage Corporation

Interested in becoming a participating lender?

 

Contact us

 

Program Updates
  • 3/3-removed Indian Home Loans
  • 12/1- MANUFACTURED HOMES are eliminated
    12/1 – FHA – no manual underwriting
  • 11/2 Program updates to include Freddie Mac HFA Advantage
  • 6/9-Updated guidelines – servicer fee
  • 4/23- Program Start Date
  • 4/17 – Program training

 

EhousingPlus University    

  1. eHP Lender Program Training
    • Required for everyone participating in the program
    • offered 24/7
    • Click here to attend Program training
  2. eHP System Training*
    • After you complete the online Lender Program Training, information is provided as to what happens next.
    • Click here to register for system training

 

Should you have any questions on training, please contact trainer@ehousing.cc

To read more about eHP Program Training, click here.

* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.