The Best Mortgage Lenders in Davenport, OK
Compare verified mortgage lenders serving Davenport, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Davenport
Featured Mortgage Lenders
Gateway Mortgage Group
Gateway Mortgage Group, LLC
Gateway Mortgage Group is a highly reputable lender headquartered in Tulsa, Oklahoma, with over two decades of experience serving the Davenport area and broader Oklahoma region. They are known for their competitive rates, personalized customer service, and extensive loan options, including government-backed programs. With strong local presence and a focus on community engagement, they have built a solid reputation for reliability and customer satisfaction, often praised for their efficient processing and knowledgeable loan officers.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated national lender with a strong local presence in Oklahoma, including service to Davenport. Founded in 1996, they are celebrated for their exceptional customer service, competitive rates, and wide array of loan products tailored to diverse needs. Their experienced team provides personalized guidance through the mortgage process, earning high marks for transparency and support. With numerous awards and positive reviews, they are a trusted choice for homebuyers in the region.
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New American Funding
New American Funding
New American Funding is a dynamic and growing mortgage lender with a significant presence in Oklahoma, serving the Davenport area through local loan officers and offices. Founded in 2003, they offer a comprehensive range of loan options and are particularly noted for their focus on customer satisfaction, innovative technology, and efforts to support diverse communities. Their high ratings stem from responsive service, flexible solutions, and a commitment to making homeownership accessible, backed by a track record of successful closings and positive client feedback.
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Frequently Asked Questions
Common questions about mortgage lending in Davenport, OK
What are the typical down payment requirements for a home in Davenport, OK, given the lower median home prices?
In Davenport, where median home prices are significantly below the national average, many conventional loans can be secured with a 3-5% down payment. For a home priced around $150,000, this translates to $4,500-$7,500 down. Local lenders are often familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties in this qualifying area.
Are there any local or state-specific first-time homebuyer programs that are particularly useful in Davenport?
Yes, the Oklahoma Housing Finance Agency (OHFA) offers several programs, including down payment assistance and competitive interest rate loans, which are very accessible in Davenport. Given the city's size and income levels, many buyers here meet the eligibility requirements for OHFA's Gold and Silver programs, which can provide thousands in assistance with favorable terms.
How does the appraisal process work in Davenport, given the mix of older homes and newer construction on larger lots?
Appraisals in Davenport must carefully account for the wide range of property types, from historic homes near downtown to newer builds on acreage. A local appraiser with knowledge of Lincoln County is crucial, as they will use comparable sales ("comps") from within the Davenport school district and similar rural areas, which can differ from suburban or urban valuation methods.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Davenport?
Lincoln County property taxes in Davenport are relatively low compared to national averages, which helps keep monthly payments affordable. However, due to the rural setting and distance from fire hydrants, homeowners insurance—especially coverage for fire and wind—can be higher than in urban centers. Your lender will help you escrow for both, but it's wise to get insurance quotes early.
Is a USDA Rural Development loan a good option for buying a home in Davenport, OK?
Absolutely. Almost all of Davenport qualifies for the USDA RD Single Family Housing Guaranteed Loan Program, which is a major advantage for buyers here. This program offers 100% financing (no down payment), competitive interest rates, and more flexible credit guidelines, making it one of the most popular and practical mortgage options for the area.
Why Choose a Mortgage Lender in Davenport?
Local Market Knowledge
Lenders who understand Davenport'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 Davenport and get competitive rates on your home loan.