The Best Mortgage Lenders in Durham, OK
Compare verified mortgage lenders serving Durham, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Durham
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated national lender with a strong local presence in Oklahoma, serving Durham and surrounding rural areas. They are praised for their competitive rates, personalized service, and expertise in various loan programs, including USDA loans ideal for rural properties. With over two decades of experience, they have a reputation for smooth closings and excellent customer support, making them a top choice for homebuyers in Roger Mills County.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender known for its commitment to diversity and community-focused lending, with services extending to Durham and rural Oklahoma communities. They offer a wide range of loan options and are particularly noted for their first-time homebuyer programs and competitive rates. High customer satisfaction ratings reflect their efficient processing and dedicated local loan officers who provide personalized guidance throughout the mortgage process.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a well-established lender with a strong regional presence in Oklahoma, offering reliable mortgage services to Durham and nearby areas. They are recognized for their flexible loan solutions, including options for self-employed borrowers and those with unique financial situations. With a focus on customer service and timely closings, Caliber has built a loyal client base through transparent practices and supportive local experts.
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Frequently Asked Questions
Common questions about mortgage lending in Durham, OK
What are the typical down payment requirements for homes in Durham, OK, given the rural market?
In Durham's rural market, many conventional loans still require a 5-20% down payment, but government-backed loans are very popular. For the affordable homes common in the area, USDA loans offer a significant advantage with 0% down payment for eligible borrowers and properties, as much of the surrounding area qualifies as USDA rural. FHA loans with 3.5% down are also a common choice for first-time buyers.
Are there any local or state-specific first-time homebuyer programs that can help with purchasing a home in Durham?
Yes, the Oklahoma Housing Finance Agency (OHFA) offers several valuable programs for eligible buyers in Durham. These include down payment assistance grants, competitive interest rates on first mortgages, and tax credits. Given Durham's home prices, these programs can provide substantial help with closing costs and making homeownership more accessible.
How does Durham's location and property types affect the home appraisal process for a mortgage?
Appraisals in rural areas like Durham can be more complex due to the scarcity of recent, comparable home sales ("comps"). Lenders and appraisers often need to look at sales in nearby towns like Enid or Kremlin, which can sometimes lead to valuation challenges. Unique property features, like larger land parcels or older farmhouses, also require appraisers with specific rural expertise.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Durham?
Property taxes in Garfield County, where Durham is located, are generally moderate, but it's crucial to factor them into your payment. A key local consideration is securing adequate homeowners insurance, which may include coverage for risks more common in rural Oklahoma, such as wind/hail or septic system issues, which can influence your total monthly escrow payment.
Are mortgage rates in Durham, OK, different from the national average, and what local lenders are available?
Mortgage rates are primarily set by national markets, so Durham borrowers see similar rates. However, your final rate depends heavily on your personal credit and loan specifics. For local service, you can work with community banks and credit unions based in Enid or regional lenders familiar with rural Oklahoma properties, which can streamline the process compared to large national banks.
Why Choose a Mortgage Lender in Durham?
Local Market Knowledge
Lenders who understand Durham'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 Durham and get competitive rates on your home loan.