The Best Mortgage Lenders in Ardmore, OK
Compare verified mortgage lenders serving Ardmore, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ardmore
Featured Mortgage Lenders
Gateway First Bank
Gateway First Bank
Gateway First Bank is one of Oklahoma's largest and most reputable mortgage lenders, known for its deep community roots and extensive experience serving Ardmore and surrounding areas. They offer competitive rates, a wide range of loan products, and personalized service, with high customer satisfaction ratings due to their efficient processing and local expertise. Their long-standing presence in the region ensures reliability and trust for homebuyers.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a nationally recognized mortgage lender with a strong presence in Oklahoma, including Ardmore. They are praised for their competitive rates, fast closings, and excellent customer service, backed by a variety of loan options tailored to different needs. Their high ratings and substantial review count reflect a commitment to transparency and borrower satisfaction, making them a top choice for reliable financing.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a full-service lender known for its community-focused approach and efficient service in Ardmore and across Oklahoma. They offer flexible loan programs, including specialized options for first-time buyers, and are highly rated for their responsive support and competitive rates. Their dedication to local engagement and customer care has built a strong reputation for reliability and satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Ardmore, OK
What are the current average mortgage rates for homebuyers in Ardmore, OK, and how do they compare to the national average?
Mortgage rates in Ardmore typically align closely with national averages, but local lenders may offer competitive variations. As of recent trends, rates in Ardmore often run slightly below the national average due to Oklahoma's overall lower cost of living and stable housing market. It's advisable to compare offers from local credit unions like Vision Bank or First National Bank & Trust, as they may have specific promotions for Carter County residents.
Are there any down payment assistance programs specifically for first-time homebuyers in Ardmore?
Yes, Ardmore homebuyers can access the **Oklahoma Housing Finance Agency (OHFA)** programs, which offer competitive interest rates and down payment assistance, such as the OHFA Gold 4% Grant. Additionally, the **City of Ardmore** may occasionally offer local grant programs or favorable financing for targeted revitalization areas, so checking with the Ardmore Development Authority is recommended for the most current opportunities.
How does the appraisal process work in Ardmore, given its mix of historic homes and newer developments?
Appraisals in Ardmore require appraisers familiar with the local market's diverse inventory, from historic homes in the Northwest Heights to newer builds near Lake Murray. They will heavily rely on recent comparable sales within specific Ardmore neighborhoods, as values can vary significantly. This makes choosing a lender with a strong local network important to ensure an accurate valuation that reflects Ardmore's unique property types.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Ardmore?
Carter County property taxes in Ardmore are generally considered moderate for Oklahoma, with rates around 0.85% to 1.1% of assessed value. Homeowners insurance, however, can be higher than the state average due to Ardmore's location in a region prone to severe weather, including tornadoes and hail. Your lender will factor both into your escrow payment, and it's wise to shop for insurance quotes early in the homebuying process.
Are USDA rural housing loans a viable option for homes in Ardmore, OK?
Absolutely. While Ardmore is a regional hub, many properties on the outskirts and in surrounding areas of Carter County are eligible for USDA Rural Development loans, which offer 100% financing (no down payment). The Ardmore city limits themselves may have pockets of eligibility, so it's crucial to check the USDA eligibility map specifically for the property's address, as this can be a significant advantage for qualified buyers.
Why Choose a Mortgage Lender in Ardmore?
Local Market Knowledge
Lenders who understand Ardmore's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Oklahoma.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Ardmore and get competitive rates on your home loan.