Oklahoma Mortgage Rates

July 2, 2015 05:44 AM Eastern

Refinance rates now in OKLAHOMA CITY, OK [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

FHA 30 Year Fixed Rates as low as

Interest Rate
3.250%
APR
4.233%
Monthly Payment
$1,005
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
3.250%
APR
4.233%
Monthly Payment
$1,005
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,005
Lender Fees $6,500
Lender Credit $0
Total Closing Fees* $6,500
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
eRates Mortgage
Interest Rate
3.375%
APR
4.354%
Monthly Payment
$1,019
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,019
Lender Fees $6,422
Lender Credit $0
Total Closing Fees* $6,422
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.
eRates Mortgage
Email Lender Write a Review

Lender Reviews

Don't expect any lender credit

They offered me a good rate without much out of pocket cost due to a lenders credit for a refi. Then the process stalled and they let my rate lock expire (their fault) and expected me to just pay out of the lenders credit to lock the rate again. I've never heard the voice of my loan processor since she never, ever returned a phone call or answered the phone as the days went by and it expired again. Negative lenders credit now! I ended up walking away after sinking close to a thousand dollars into appraisal, credit report, etc. I won't do business with them.

By: Thomas (San Diego, CA)

obscure company policies

Towards the end of this loan application process, I was notified that my loan will not go through because of some obscure company policy regarding FEMA flood mapping. This has nothing to do with me as an applicant - all my credit scores, house appraisal, insurances, finances, etc all check out except this one thing regarding FEMA which is out of my control. Somebody didn't do their job to notify me of such an important policy prior to paying all this money. I would suggest that if you are seeking a lender, look elsewhere...they will throw a curve ball policy at you towards the end and after all the time and money you've wasted, you'll end up with nothing. So beware of rates and terms from GATEWAY FUNDING DIVERSIFIED MORTGAGE aka ERates that seems to good to be true. THEY ARE.

By: Nicole (San Francisco, CA)

Buyer beware - they WILL add extra costs!!

Initial cost to closing was x - slowly crept up to y (much larger). Just before closing (after waiting almost 7 weeks) they apparently had to extend lock due to them dragging their feet - worst refi experience ever.

By: Stever (Northern CA)
See All Reviews

15 Year Fixed Rates as low as

Interest Rate
2.875%
APR
3.092%
Monthly Payment
$1,370
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
2.875%
APR
3.092%
Monthly Payment
$1,370
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,370
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,370
Lender Fees $3,000
Lender Credit $0
Total Closing Fees* $3,000
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
eRates Mortgage
Interest Rate
2.990%
APR
3.144%
Monthly Payment
$1,381
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,381
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,381
Lender Fees $2,134
Lender Credit $0
Total Closing Fees* $2,134
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.
eRates Mortgage
Email Lender Write a Review

Lender Reviews

Don't expect any lender credit

They offered me a good rate without much out of pocket cost due to a lenders credit for a refi. Then the process stalled and they let my rate lock expire (their fault) and expected me to just pay out of the lenders credit to lock the rate again. I've never heard the voice of my loan processor since she never, ever returned a phone call or answered the phone as the days went by and it expired again. Negative lenders credit now! I ended up walking away after sinking close to a thousand dollars into appraisal, credit report, etc. I won't do business with them.

By: Thomas (San Diego, CA)

obscure company policies

Towards the end of this loan application process, I was notified that my loan will not go through because of some obscure company policy regarding FEMA flood mapping. This has nothing to do with me as an applicant - all my credit scores, house appraisal, insurances, finances, etc all check out except this one thing regarding FEMA which is out of my control. Somebody didn't do their job to notify me of such an important policy prior to paying all this money. I would suggest that if you are seeking a lender, look elsewhere...they will throw a curve ball policy at you towards the end and after all the time and money you've wasted, you'll end up with nothing. So beware of rates and terms from GATEWAY FUNDING DIVERSIFIED MORTGAGE aka ERates that seems to good to be true. THEY ARE.

By: Nicole (San Francisco, CA)

Buyer beware - they WILL add extra costs!!

Initial cost to closing was x - slowly crept up to y (much larger). Just before closing (after waiting almost 7 weeks) they apparently had to extend lock due to them dragging their feet - worst refi experience ever.

By: Stever (Northern CA)
See All Reviews

5YearARM Rates as low as

Interest Rate
2.750%
APR
3.149%
Monthly Payment
$816
Herring Bank
Interest Rate
2.750%
APR
3.149%
Monthly Payment
$816
(844) 707-9782 Contact
Herring Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $816
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $816
Lender Fees $5,591
Lender Credit $500
Total Closing Fees* $5,091
*Other 3rd party fees may apply
Herring Bank
Email Lender

About the Lender

Herring Bank originated in Vernon, Texas in 1899. The bank provides a full range of commercial and consumer banking products, as well as investment and trust services. While the bank is primarily owned by the family of its founder, Col. C.T. Herring, the bank has directors and owners in communities that it serves. Through local leadership and ownership, Herring Bank has created a legacy of helping customers with their financial needs for some 110 years.
Herring Bank
Email Lender Write a Review

Lender Reviews

EXCELLENT Customer Service

Yes, I recommend this lender

We used Herring Bank for our first home purchase, and we could not have asked for a better experience. They were extremely responsive and helpful throughout the entire process. Any time I had any questions, they were ready, willing and able to answer. 10/10 would ABSOLUTELY recommend to anyone.

By: Bgraham13 (Houston, TX)

Going the Extra Mile

Yes, I recommend this lender

If you need someone to work for you and make your home dreams come true then CALL Herring Bank. I worked with Jason a Senior Mortgage Loan Officer and he was very helpful even when issues came up he would walk me through the process and always went the extra mile to make my home buying was a pleasant experience. I had went to several other places and would always get the run around because of a few old marks. This did not happen at Herring Bank they worked with me and I felt like they wanted me to have this home and went the extra mile. THANKS again Jason and Herring Bank

By: Clay (Okalhoma City)

Great service and knowledgeable loan officers

Yes, I recommend this lender

I applied with Herring for a refinance in April. In order for it to be beneficial, my loan had to meet specific criteria. Jason Taylor, my loan officer immediately understood what I was looking to do and helped get the loan I was looking for. They told me what to expect upfront and there were no surprises. I would absolutely recommend Herring bank.

By: markh (Mckinney, TX)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
2.750%
APR
3.044%
Monthly Payment
$817
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $817
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $817
Lender Fees $2,532
Lender Credit $0
Total Closing Fees* $2,532
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
eRates Mortgage
Interest Rate
2.750%
APR
3.040%
Monthly Payment
$817
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $817
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $817
Lender Fees $2,447
Lender Credit $0
Total Closing Fees* $2,447
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.
eRates Mortgage
Email Lender Write a Review

Lender Reviews

Don't expect any lender credit

They offered me a good rate without much out of pocket cost due to a lenders credit for a refi. Then the process stalled and they let my rate lock expire (their fault) and expected me to just pay out of the lenders credit to lock the rate again. I've never heard the voice of my loan processor since she never, ever returned a phone call or answered the phone as the days went by and it expired again. Negative lenders credit now! I ended up walking away after sinking close to a thousand dollars into appraisal, credit report, etc. I won't do business with them.

By: Thomas (San Diego, CA)

obscure company policies

Towards the end of this loan application process, I was notified that my loan will not go through because of some obscure company policy regarding FEMA flood mapping. This has nothing to do with me as an applicant - all my credit scores, house appraisal, insurances, finances, etc all check out except this one thing regarding FEMA which is out of my control. Somebody didn't do their job to notify me of such an important policy prior to paying all this money. I would suggest that if you are seeking a lender, look elsewhere...they will throw a curve ball policy at you towards the end and after all the time and money you've wasted, you'll end up with nothing. So beware of rates and terms from GATEWAY FUNDING DIVERSIFIED MORTGAGE aka ERates that seems to good to be true. THEY ARE.

By: Nicole (San Francisco, CA)

Buyer beware - they WILL add extra costs!!

Initial cost to closing was x - slowly crept up to y (much larger). Just before closing (after waiting almost 7 weeks) they apparently had to extend lock due to them dragging their feet - worst refi experience ever.

By: Stever (Northern CA)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

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Oklahoma Mortgage Rates and Unique Homebuyer Assistance Programs
"Oklahoma is OK," and this is truly the case when it comes to purchasing a home in this state. However, if you want to purchase a home in Oklahoma City, Tulsa or any of the other densely populated areas of Oklahoma, you’re going to have to show that you are capable of paying for the home and affording the monthly mortgage payments.

If you have unique circumstances, or are financially unable to purchase a home through conventional means, you can get assistance from the Oklahoma Housing Finance Agency (OFHA). This agency is designed to help buyers understand Oklahoma mortgage interest rates and other home buying processes.

Services offered by the OHFA include:

• help for first time homebuyers
• help for homebuyers in difficult financial situations
• help for renters and landlords
• information on current OK mortgage rates
• information and resources for HUD and Section 8 housing

The mission of the OFHA is to help people find and get into homes across Oklahoma. The OFHA works with mortgage lenders all over the state to provide 30-year fixed-rate home loans with interest rates below current Oklahoma mortgage interest rates.

Homebuyer Programs with Low OK Mortgage Interest Rates
Among the programs available from the OFHA is the 1st Gold Program, which helps make the dream of owning a home in Oklahoma a reality. For those who qualify, the 1st Gold Program will take care of your first mortgage loan closing costs and down payment, which is great for those buyers who do not have significant savings.

By working with the OFHA, you can determine your eligibility for this program. There are Targeted Areas and Non-Targeted Areas of the state, determined by national census statistics. In Non-Targeted Areas, you have to be a first-time homebuyer in order to qualify for these offered benefits. Targeted Areas have no such qualifications.

OFHA Industry Specific Programs with Low Oklahoma Mortgage Rates
The OFHA honors the heroism of police officers and firefighters by offering them low OK mortgage interest rates. The OHFA Shield Program is available for current police and firefighters living in Oklahoma who meet minimum gross income requirements. Living in the home and occupying it as your primary residence is another requirement for this program.

The OFHA 4 Teachers Program is another industry-specific program that offers low Oklahoma mortgage rates. Participants must have a teacher’s certificate, live in Oklahoma and meet income guidelines in order to receive the current OK mortgage rates offered by the program.

These OFHA programs are available to all eligible residents of Oklahoma. By working directly with this agency, aside from getting a low mortgage interest rate, you can get the assistance and special consideration that you need in order to qualify for a loan or obtain help for your down payment and closing costs.