64.7 F
Washington D.C.
Tuesday, June 15, 2021
Advertisement

Best Oklahoma Mortgage Lenders

Must Read


If you’re planning to settle down in the Sooner State, you’ll be joining 3.9 million fellow Oklahomans who call the state home. There are about 1.7 million housing units and an above-average homeownership rate of 65% in Oklahoma, according to the U.S. Census Bureau’s 2018 American Community Survey.

Oklahoma’s median housing value is $140,000, which is well below the national median of $229,700. Home values can vary by region, however, with some counties’ average home prices going as low as $53,100.

What Are the Mortgage Rates in Oklahoma?

The average interest rate for a 30-year fixed-rate conforming mortgage in Oklahoma is 2.94%.

Home interest rates range from 2.5% to 4% in Oklahoma.

What Are Today’s Mortgage Rates?

Locking in a low mortgage rate today can save you thousands over the life of your loan. Compare your mortgage rate offers with national average trends.







Loan Types

This Week’s Rate

Last Week’s Rate

30-year fixed-rate mortgage 2.85% 2.84%
15-year fixed-rate mortgage 2.35% 2.33%
30-year fixed-rate jumbo mortgage 2.88% 2.88%
5/1 ARM 2.95% 3%
5/1 jumbo ARM 2.91% 2.93%

*Rates as of Feb. 8, 2021

U.S. News’ Best Oklahoma Mortgage Lenders

Methodology: U.S. News conducted an in-depth review of leading direct mortgage lenders in Oklahoma. Research was based on program availability, customer satisfaction ratings and qualification requirements. Because each consumer has different needs, the top finishers in several key areas were chosen.

Best for VA loans

Veterans United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, D.C., and specializes in VA loans.

Before You Apply

  • Mortgage types: VA, VA jumbo, refinance
  • Minimum FICO credit score: 640
  • Maximum loan amount: $1.5 million
  • Better Business Bureau rating: A+

Best Features

  • No down payment or PMI are required.

See full profile

Best for large loan amounts

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs and jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Before You Apply

  • Mortgage types: fixed rate, Affordable Loan Solution, FHA, VA, ARM, home equity line of credit, fixed-rate refinancing, FHA refinancing, VA refinancing, cash-out refinancing, adjustable-rate refinancing, jumbo
  • Minimum FICO credit score: Not disclosed
  • Maximum loan amount: $2.5 million
  • Better Business Bureau rating: A+

Best Features

  • Bank of America has a wide variety of mortgage products.

  • The lender offers origination fee discounts for qualifying Bank of America and Merrill Lynch clients.

  • Home equity lines of credit have no annual, application or cash advance fees or closing costs.

  • Bank of America offers a first-time homebuyer program.

See full profile

Best for online service

Caliber Home Loans of Coppell, Texas, offers mortgage and home equity products nationwide. Options include conventional, adjustable-rate, refinancing, Federal Housing Administration, U.S. Department of Agriculture and Veterans Affairs loans. Caliber has been in business since 2008, and is focused on home lending products.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, refinancing, bond, renovation, Freddie Mac HomeOne, Freddie Mac Home Possible, Fannie Mae HomeReady
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A

Best Features

  • The first-time homebuyer program HomeOne can require a down payment of as little as 3% and borrowers may qualify with a minimum 620 credit score.

  • Government-insured loans including Federal Housing Administration, Veterans Affairs, and United States Department of Agriculture programs are available.

See full profile

Best for low costs

Chase, one of the nation’s largest banks, offers mortgages, refinance loans and home equity loans for qualified borrowers.

Before You Apply

  • Mortgage types offered: conventional, ARM, conforming, FHA, DreaMaker, VA, jumbo, refinancing
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Down payments as low as 3% are accepted.

  • Fixed- and adjustable-rate mortgages are available.

See full profile

Best for product selection

Guild Mortgage, founded in 1960, specializes in home loans and serves borrowers nationwide. The lender’s full suite of products includes conventional and government-backed mortgages and home renovation loans.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, refinancing, renovation, jumbo
  • Minimum FICO credit score: 620
  • Maximum loan amount: $2 million
  • Better Business Bureau rating: A+

Best Features

  • A broad range of mortgage products are offered.

  • Special mortgage programs for first-time buyers and manufactured homebuyers are available.

See full profile

Best for customer service

LoanDepot is an online lender operating in all 50 states with more than 200 in-person branches. The company was founded in 2010 and is headquartered in Southern California. LoanDepot offers Federal Housing Administration and Department of Veterans Affairs loans, as well as home equity and refinancing loans.

Before You Apply

  • Mortgage types: refinance, jumbo, hybrid ARM, fixed rate, HARP, VA, FHA, 203k loan
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • LoanDepot mortgages have a lifetime guarantee, which means if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fees and reimburse appraisal fees.

  • The company offers a variety of mortgage products.

  • It’s licensed in all 50 states.

See full profile

Best for digital customer care

PrimeLending is a Dallas-based mortgage lender with several mortgage loan options, including conventional loans, jumbo loans, government-backed loans and refinance loans. The lender is a subsidiary of PlainsCapital Bank.

Before You Apply

  • Mortgage types: fixed rate, ARM, conventional, cash-out refinance, refinance, jumbo, FHA, VA, USDA, new construction, interest rate reduction refinance loan
  • Minimum FICO credit score: 640
  • Maximum loan amount: undisclosed
  • Better Business Bureau rating: A+

Best Features

  • Homebuyers can choose from a variety of mortgage products.

  • Home loans are available nationwide.

  • Down payment and closing cost assistance is available.

See full profile

Best for product availability

Quicken Loans is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A+ Better Business Bureau rating and received a rating of five (among the best) in the 2018 U.S. Primary Mortgage Origination Satisfaction Study.

Highlights:

  • Mortgage types offered: ARM, FHA, VA, Refinancing (FHA), USDA, Conventional, Refinancing (conventional)
  • Minimum FICO credit score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • J.D. Power satisfaction rating: Five out of five

Best Features

  • Complete loan process available online.

  • Wide variety of mortgage products.

  • Good customer service ratings.

See full profile

Mortgage Calculator

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

What Are Some Oklahoma Homebuyer Programs?

Oklahoma homebuyers can get favorable mortgage rates and help with down payments and closing costs from these programs.

  • Available to: First-time homebuyers or those buying homes in certain locations.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Down payment and closing cost assistance: Borrowers get 3.5% or 4% toward the total loan amount.

  • Available to: First-time homebuyers with a credit score of 640 or above who are teachers, firefighters, law enforcement, emergency medical services or Oklahoma state employees.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: Yes.
  • Benefit: OHFA offers a quarter-percent reduction from the daily posted rates for first-time homebuyers in these professions.
  • Down payment and closing cost assistance: 3.5% of total loan amount.

Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.

- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest News

Why People Fall For Conspiracy Theories

Think of a conspiracy theorist. How do they see the world? What stands out to them? What fades...
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img
Translate »