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Home Mortgage Loans

Buying a home can be a big step. According to Consumer Reports, credit unions are the best in terms of providing trusted, professional, and affordable mortgage services. From pre-qualification to insurance, Oklahoma Central Credit Union makes it easy.

 

Mortgage Loans

If you're going to be buying, building, or refinancing soon, you owe it to yourself to talk to us. Our Mortgage Lending Specialists are ready to help you better afford the home of your dreams. Home loans are available to members for purchasing or refinancing the following:

  • Primary residence
  • Second home
  • Investment property
  • Vacation home
  • Construction
  • Land
  • FHA

Mortgage Term Options 

  • 7-year
  • 10-year
  • 15-year
  • 20-year
  • 30-year

Fixed home equity and home equity line of credit loans are resources for our members to borrow extra cash for home improvement, refinance, debt consolidation and other reasons. Borrow only as much as you need, when you need it.

For a conventional purchase loan for a primary residence, assuming 5% down payment, with a first lien loan amount of $95,000 and a 15-year fixed rate of 3.875%, the APR* is 4.215% and the monthly payment for principal, interest, and mortgage insurance would be $724; with a 10-year fixed rate of 3.875%, the APR is 4.283% and the monthly payment for principal, interest, and mortgage insurance would be $983. An estimated amount of $42 for private mortgage insurance is included in the quoted amount. An escrow account would also be required, which would increase the monthly payment to include homeowner’s insurance, real estate taxes and flood insurance if applicable. Subordinate liens are not eligible.

For a conventional refinance loan on a primary residence with a loan amount of $70,000, 80% loan to value, with a 7-year fixed rate of 5.00%, the APR is 5.319% and the monthly payment for principal and interest would be $989. Escrows not allowed. Minimum loan amount $55,000.

For a home equity second mortgage loan on a primary residence, with a loan amount of $25,000, combined loan to value less than or equal to 80% and a 5-year fixed rate of 6.50%, the APR is 6.50% and the monthly payment for principal and interest would be $489.

APR is defined as Annual Percentage Rate. Rate subject to credit approval. Rates subject to change.

Rural Development Loan - USDA loan

We offer 100% financing for Rural Development Mortgage Loans through the USDA Rural Development Single Family Housing Guaranteed Loan Program. These loans are for lower income borrowers who wish to purchase their primary residence in rural areas.

Mortgage Term Option:

  • 30-year

Pre-approval is available to help determine loan amounts, payments, closing costs and can help increase negotiating power.

Apply Now

Don't want to apply online?

Stop by any branch location or call 918-664-6000, select option 2, to speak with a Member Representative.

For a rural development loan with a first lien loan amount of $100,000 and a 30-year fixed rate of 3.50%, the APR* is 4.036% and the monthly payment for principal, interest, and annual Rural Development fee would be $483. An escrow account would also be required, which would increase the monthly payment to include homeowner’s insurance, real estate taxes and flood insurance if applicable. Subordinate liens are not eligible. This program has restrictions on property location and household income.

APR is defined as Annual Percentage Rate. Rates subject to credit approval. Rates subject to change.

 

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