The Best Mortgage Lenders in Frederick, OK
Compare verified mortgage lenders serving Frederick, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frederick
Featured Mortgage Lenders
Gateway Mortgage Group
Gateway Mortgage Group, LLC
Gateway Mortgage Group is a highly-rated regional lender with a strong presence in Oklahoma, known for competitive rates and personalized service. They have extensive experience serving rural areas like Frederick, offering a wide range of loan products with a focus on customer satisfaction and local community support. Their Lawton office provides convenient access for Frederick residents, backed by numerous positive reviews for reliability and efficient processing.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is praised for its fast, digital-friendly mortgage processes and strong customer service track record. They actively serve the Frederick area through their Oklahoma City branch, offering innovative loan solutions and competitive rates. With a commitment to community engagement and a reputation for transparency, they have garnered high ratings from homebuyers in rural Oklahoma for their responsiveness and expertise.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is consistently ranked among the top mortgage lenders for customer satisfaction and reliability. With nearly three decades of experience, they offer a comprehensive suite of loan options and are known for their competitive rates and local expertise. Their Oklahoma City office serves Frederick residents with dedicated loan officers who understand the unique needs of the area, supported by hundreds of positive reviews for seamless transactions and exceptional support.
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Frequently Asked Questions
Common questions about mortgage lending in Frederick, OK
What are the current mortgage rates like in Frederick, OK, and how do they compare to state or national averages?
Mortgage rates in Frederick typically align closely with national averages, but local lenders may offer competitive rates due to the lower cost of living and property values in Tillman County. It's common to see rates slightly more favorable than in larger Oklahoma metros like Oklahoma City or Tulsa. Shopping with local community banks or credit unions in Frederick can sometimes yield the best terms.
Are there any down payment assistance or first-time homebuyer programs specifically available for Frederick residents?
Yes, Frederick homebuyers can access statewide programs like the Oklahoma Housing Finance Agency's (OHFA) "OHFA Advantage" loan, which offers competitive rates and down payment assistance. Additionally, local lenders may have relationships with community development programs for Tillman County. First-time buyers should consult with a local mortgage officer who is well-versed in these statewide resources tailored for smaller communities.
How does the appraisal process work in Frederick given its rural market and older housing stock?
Appraisals in Frederick require appraisers familiar with the local rural market and comparable sales, which can be limited. Many homes are older, so appraisers pay close attention to the condition of foundations, roofs, and mechanical systems. Using a local lender who regularly works with appraisers from the Lawton or wider Southwest Oklahoma area is crucial to ensure a fair and accurate valuation.
What type of property insurance considerations are unique to getting a mortgage in Frederick, OK?
Due to Frederick's location in "Tornado Alley," lenders will require robust homeowners insurance that includes windstorm and hail coverage, which can be a significant part of your monthly escrow payment. Additionally, if purchasing a home outside city limits with a well or septic system, lenders may require specific inspections. It's wise to get insurance quotes early in the homebuying process.
For a USDA Rural Development loan, is the city of Frederick, OK, considered an eligible area?
Yes, Frederick and most of Tillman County are absolutely eligible for USDA Rural Development loans, which offer 100% financing. This is a highly relevant program for Frederick homebuyers due to the town's population and rural designation. This loan can be an excellent option for qualified buyers with moderate incomes looking to purchase in the area with no down payment.
Why Choose a Mortgage Lender in Frederick?
Local Market Knowledge
Lenders who understand Frederick'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 Frederick and get competitive rates on your home loan.