The Best Mortgage Lenders in Salina, OK
Compare verified mortgage lenders serving Salina, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Salina
Featured Mortgage Lenders
Gateway First Bank
Gateway First Bank
Gateway First Bank is a top-rated mortgage lender headquartered in Jenks, Oklahoma, with a strong regional presence that serves Salina and surrounding areas. Founded in 2000, they are known for their competitive rates, personalized service, and extensive loan options, including government-backed programs. Their high customer satisfaction ratings stem from efficient processing, local expertise, and a commitment to the Oklahoma community, making them a trusted choice for homebuyers in Mayes County.
Loan Types:
loanDepot
loanDepot, LLC
loanDepot is a nationally recognized mortgage lender with a strong presence in Oklahoma, including service to Salina. Founded in 2010, they offer a streamlined digital application process combined with local support from their Oklahoma City office. They are praised for competitive rates, fast closings, and a wide range of loan products. Their high review counts and ratings reflect reliability and excellent customer service, making them a popular choice for both first-time and experienced homebuyers in the region.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender with a branch in Tulsa that actively serves Salina and northeastern Oklahoma. Established in 2003, they specialize in diverse loan options and have a reputation for exceptional customer service, including support for underserved communities. Their high ratings are driven by transparent processes, competitive rates, and a focus on building long-term client relationships. With over two decades of experience, they are a reliable option for home financing in the area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Salina, OK
Are there any special mortgage programs for first-time homebuyers in Salina, OK?
Yes, Salina homebuyers can access the Oklahoma Housing Finance Agency's (OHFA) programs, which offer competitive interest rates, down payment assistance, and favorable terms for first-time buyers. These programs are particularly valuable in Salina's affordable market, helping to reduce upfront costs. It's also wise to check with local lenders like RCB Bank or BancFirst for any additional community-specific offerings.
How does Salina's rural location and proximity to Lake Hudson affect the mortgage process?
Salina's rural designation can make USDA Rural Development loans a popular and attractive option, as they offer 100% financing with no down payment for eligible borrowers and properties. Furthermore, properties near Lake Hudson may require additional scrutiny for flood insurance, which can be a mandatory condition for your mortgage if the home is in a designated flood zone.
What are typical closing costs for a mortgage in Salina compared to the state average?
Closing costs in Salina are generally at or slightly below the Oklahoma average, which is around 1.5% to 3% of the home's purchase price. Due to the lower median home price in Mayes County, the dollar amount is often very manageable. Always request a detailed Loan Estimate from your lender to understand specific fees, including title insurance and local recording charges.
What should I know about property taxes and insurance when budgeting for a mortgage in Salina?
Property taxes in Mayes County and Salina are relatively low, which helps keep total monthly mortgage payments affordable. However, due to Oklahoma's weather, lenders will require you to escrow for homeowners insurance, which can be higher than national averages to cover risks like wind, hail, and tornadoes. Factoring this into your budget is crucial.
How does the appraisal process work for a home in a small town like Salina, OK?
Appraisals in Salina can present challenges due to fewer recent comparable sales ("comps") than in urban areas. An appraiser may need to look at sales in nearby towns like Pryor or Claremore. To support the value, be prepared to provide information on unique property features, especially for homes with acreage or lake access, which are common in the area.
Why Choose a Mortgage Lender in Salina?
Local Market Knowledge
Lenders who understand Salina'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 Salina and get competitive rates on your home loan.