The Best Mortgage Lenders in Oklahoma City, OK
Compare verified mortgage lenders serving Oklahoma City, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Oklahoma City
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender in Oklahoma City known for its exceptional customer service, competitive rates, and wide range of loan products. With over 27 years of experience, they have built a strong reputation for personalized service, efficient processing, and local expertise. Their high ratings and numerous positive reviews highlight their reliability in helping homebuyers navigate the mortgage process smoothly, making them a trusted choice in the community.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded in Oklahoma City for its transparent and efficient mortgage processes, competitive rates, and strong community involvement. Founded in 2008, they have gained a loyal customer base through their commitment to customer satisfaction and support throughout the homebuying journey. With a focus on innovation and local service, they offer various loan options and are praised for their responsiveness and professionalism, as reflected in their high review scores.
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New American Funding
New American Funding
New American Funding is a reputable mortgage lender serving Oklahoma City with a diverse portfolio of loan products, including specialized programs for first-time homebuyers and reverse mortgages. Established in 2003, they have over 20 years of experience and are known for their customer-centric approach, competitive rates, and high approval rates. Their strong local presence and dedication to education and support make them a preferred choice, with many reviews highlighting their efficiency and helpful staff.
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Frequently Asked Questions
Common questions about mortgage lending in Oklahoma City, OK
What are the typical down payment requirements for a mortgage in Oklahoma City?
While conventional loans often require 5-20% down, Oklahoma City's affordable market means many buyers can qualify for low-down-payment options. FHA loans with 3.5% down are very common here, and VA loans (with 0% down for eligible veterans) are popular due to the nearby Tinker Air Force Base. Local lenders are also experienced with USDA loans, which offer 100% financing for eligible rural areas just outside the city limits.
Are there any special first-time homebuyer programs available in Oklahoma City?
Yes, the Oklahoma Housing Finance Agency (OHFA) offers several programs specifically for Oklahoma City residents. These include down payment assistance grants, competitive interest rates, and homebuyer education courses. Additionally, the City of Oklahoma City itself offers the "HOME Investment Partnership Program," which provides down payment and closing cost assistance to income-eligible buyers purchasing within city limits.
How does Oklahoma City's property tax rate affect my monthly mortgage payment?
Oklahoma County has relatively moderate property tax rates compared to national averages, which helps keep total monthly payments affordable. The effective rate in Oklahoma City is typically around 0.9% to 1.1% of the assessed value. Your lender will calculate this into your escrow payment, and it's a key factor in the overall affordability that makes OKC an attractive market for homeowners.
Does the risk of severe weather in OKC impact the mortgage or insurance process?
Yes, it significantly impacts your homeowner's insurance, which is required by lenders. Due to the high risk of tornadoes and hail, wind/hail deductibles and premiums can be higher than in less risky regions. Your lender will require proof of adequate coverage, and it's wise to budget for a potentially higher insurance escrow payment as part of your total monthly housing cost.
What type of mortgage is most common for buying a home in Oklahoma City's popular suburbs like Edmond or Moore?
Conventional fixed-rate mortgages (30-year and 15-year) are the most popular choice in these stable suburban markets. Given the steady home price appreciation and strong demand in areas like Edmond (schools) and Moore (rebuilding), buyers often opt for the long-term stability of a fixed rate. Jumbo loans are less common here, as the conforming loan limits comfortably cover most suburban home prices.
Why Choose a Mortgage Lender in Oklahoma City?
Local Market Knowledge
Lenders who understand Oklahoma City'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 Oklahoma City and get competitive rates on your home loan.