20 New Homes In NE Oklahoma To Be Built With Zero Percent Interest Loans

20 new homes in northeastern Oklahoma will soon be built, thanks to a new statewide housing program that provides zero percent interest construction loans for developers.

Green Country Habitat for Humanity will build 10 homes in Wagoner, Grand Housing Solutions, Inc. will build five homes in Grove, and Old School Construction will build five homes in the Estates at Edgewood in Collinsville 

Green Country Habitat for Humanity said the program is a game-changer to help more families get affordable housing.

The nonprofit has built hundreds of homes around the Tulsa area and has been looking for ways to expand on plots in Wagoner.

"We're hoping this is just a drop in the bucket for what we plan to do in Wagoner in the future, but we're excited to offer those first 10 homes to families,” said Weitl.

Karyn Weitl with Habitat for Humanity said the expansion is thanks to a 0% interest construction loan through the new Oklahoma Homebuilder Program, run by the Oklahoma Housing Finance Agency.

"We were so grateful to be approved in the July cohort, so we're super excited, are so thrilled to be in Wagoner,” said Weitl.

Holley Mangham with Oklahoma Housing Finance Agency said last year, state lawmakers passed the Oklahoma Housing Stability Program, which includes $100 million for no-interest construction loans for developers to build houses anywhere in the state and available to everyone.

Mangham said the homes being built using the loans must be between 1,000 and 2,000 square feet.

"We're really excited to see the homes that are created from this program,” said Mangham. “It's brand new, so we're excited that the Oklahoma state legislature entrusted us with these funds. This is the largest investment in housing in state history.”

OHFA said borrowers pay back within two years, and this fund keeps going.

"Our hope is that we can keep circulating and keep building and building, not only in Wagoner but other communities,” said Weitl.

Habitat for Humanity hopes to break ground on the new homes by October and have them ready for families in January.

For more information on the loan program or to get help with a down payment on a home, visit the OHFA website here.