The Best Mortgage Lenders in Stillwater, OK
Compare verified mortgage lenders serving Stillwater, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stillwater
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates. With over 28 years in business, they have a strong presence in Oklahoma and serve Stillwater residents with a wide range of loan options. They are highly praised for their streamlined application process, personalized service, and high approval rates, making them a trusted choice for homebuyers in the area.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated lender with a reputation for fast closings and excellent customer support. Founded in 2008, they have expanded to serve Stillwater and surrounding areas, offering a variety of loan products. Their commitment to community engagement and transparent lending practices has earned them numerous positive reviews for reliability and ease of use.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender with over two decades of experience, offering diverse mortgage solutions to Stillwater homebuyers. They are recognized for their competitive rates, inclusive lending programs, and strong customer satisfaction ratings. Their dedicated local team and efficient online tools make the mortgage process smooth and accessible for borrowers in Oklahoma.
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Frequently Asked Questions
Common questions about mortgage lending in Stillwater, OK
Are there any special mortgage programs for first-time homebuyers in Stillwater, OK?
Yes, the Oklahoma Housing Finance Agency (OHFA) offers several programs, including down payment assistance and competitive interest rate loans, which are widely used in Stillwater. Additionally, local lenders often have knowledge of specific grants or programs tailored for educators at Oklahoma State University or city employees, making homeownership more accessible for those serving the community.
How does the presence of Oklahoma State University (OSU) impact the Stillwater mortgage and housing market?
OSU creates a stable, high-demand rental market, which can make investment properties attractive for buyers. However, for primary residences, competition can be higher for homes in neighborhoods like College Hill or near campus. Lenders in Stillwater are very familiar with financing for both faculty/staff and investors looking to purchase in this university-driven market.
What are typical closing costs for a mortgage in Stillwater compared to the rest of Oklahoma?
Closing costs in Stillwater are generally in line with state averages, typically ranging from 2% to 5% of the loan amount. Specific local costs include Payne County recording fees and potential city-specific transfer taxes. Working with a local lender who understands these county-level fees is crucial for an accurate estimate.
What type of property insurance considerations are unique to getting a mortgage in Stillwater, OK?
While Stillwater is not in a high-risk flood zone, mortgage lenders will still require standard homeowners insurance. A key local consideration is coverage for severe weather common to Oklahoma, such as wind/hail and tornado damage. You may need a separate windstorm policy or a specific endorsement, which can affect your overall monthly escrow payment.
How do mortgage rates in Stillwater compare to national averages, and what local factors influence them?
Mortgage rates in Stillwater are primarily driven by national trends, but local competition among banks and credit unions can lead to slight variations. Institutions like Stillwater National Bank and local credit unions often offer competitive terms, especially for buyers with strong ties to OSU or stable employment in the city's education, healthcare, or government sectors.
Why Choose a Mortgage Lender in Stillwater?
Local Market Knowledge
Lenders who understand Stillwater'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 Stillwater and get competitive rates on your home loan.