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Choosing a lender in Oklahoma can involve a lot of research, whether you're looking in Oklahoma City or a small town like Guthrie. Most mortgages take decades to repay, which can mean the difference of thousands of dollars when it comes to minor rate differentials. That makes it important to compare and shop rates across multiple lenders. To help speed up the process, we've reviewed some of the top mortgage lenders in Oklahoma. Read more about our picks below or obtain a personalized rate quote from the form above.
The Best Mortgage Rates Among Oklahoma Lenders
If you're buying a home in Oklahoma and are looking to get prequalified for a home loan, take a look at the lender reviews below. Rates alone won't capture all the factors that might impact your borrowing experience. Remember to consider each lender's reputation for customer service, terms and closing costs. Our top choices are outlined below to help inform your shopping experience.
Best Mortgage Lender for First-Time Homebuyers: Bancfirst
If you're in the market for your first home, consider asking for a rate quote from Bancfirst, which has the widest network of branches throughout the state. At 112 locations and counting, Bancfirst is arguably the most accessible lender in Oklahoma, and is also a participating lender under the Oklahoma Housing Finance Agency's (OHFA) Homebuyer Downpayment Assistance program. That means qualifying homebuyers with Bancfirst will have access to both in-person expertise and exclusive down payment grants that don't need to be paid back.
Bancfirst has underwritten over 29,000 residential mortgages over the past five years, and is the third most popular mortgage lender in the state. The lender's status as an approved OHFA lender should not be undervalued, as its hyperlocal focus enables Oklahoma homebuyers to take advantage of lucrative state assistance, unavailable at competing national lenders. Depending on your financial profile, a Bancfirst loan officer may help you qualify for a down payment grant of up to 5% of your total loan amount.
Best Mortgage Lender for Refinancing: Quicken Loans
Homeowners seeking to refinance their debt should take a look at Quicken Loans, as no lender even came close in terms of overall refinancing volume over the past five years; Quicken refinanced a total of 13,413 mortgages as of the time of this writing, almost 30% more than its second largest competitor in Oklahoma.
Quicken offers its unique YOURgage product, which lets borrowers structure their mortgage into any term they wish, inside of 29 years. This provides flexibility for borrowers looking to optimize their refinancing for both monthly payments and total interest savings. Also worth mentioning is Quicken's stellar customer service reputation, as the lender was the highest-ranking lender in terms of customer satisfaction for the past eight years in a row. Regardless of whether you want to refinance your primary home or your rental home, an experienced Quicken loan officer is ready to guide you through every step of the process.
Best Online Mortgage Lender: Guaranteed Rate
Tech-savvy borrowers and those looking for a more streamlined online application process should consider getting a quote from Guaranteed Rate. The online-based lender provides an easy-to-navigate website and offers multiple types of competitive home loans. Using the online platform, you can see what you qualify for within minutes. Guaranteed Rate's web interface allows you to obtain a personalized rate quote, tailored to meet your goals, depending on whether you want low rates, low monthly payments or a shorter loan term.
Guaranteed Rate has achieved high ratings from J.D. Power thanks to its record for customer satisfaction, ranking higher than industry leaders Wells Fargo, Bank of America and Chase. The online lender received fewer consumer complaints than any of the major brick-and-mortar lenders, according to data from the Consumer Financial Protection Bureau (CFPB), making it one of the most reliable picks around. Finally, the fact that loan officers from Guaranteed Rate can handle the entire mortgage process via phone and email, means that borrowers can rest assured that they'll receive the same quality of customer service, regardless of whether they live in Tulsa or Tahlequah.
Best Mortgage Lender for VA Loans: Navy Federal Credit Union
Navy Federal Credit Union ranked as our top VA lender in Oklahoma due to its low rates and veteran-focused services. The lender provides useful resources for veterans and current service members alike to help them find the best mortgage terms. Qualifying borrowers can get up to 100% of their mortgage loans financed through the VA loan program, negating the need for a down payment. This makes Navy Federal an excellent choice for service members stationed at Fort Sill and Tinker Air Force Base.
Unique to Navy Federal is its network of professionals, which includes real estate agents and loan officers experienced in finding and financing homes for those affiliated with the military. If you have any doubts about whether you're getting the best deal with Navy Federal, you can rest assured, as the company promises to match its best competitor's offer or Navy Federal will deposit $1,000 into your account after closing.
Best Mortgage Lender for Poor Credit: First United
Borrowers struggling to get approved for a home loan may wish to submit an application for an FHA loan through First United, which allows for lower down payments and more lenient credit qualifications than a conventional home loan. First United underwrote over 5,217 FHA-sponsored home loans over the past five years, making it the second largest FHA lender by volume in Oklahoma. First United is an excellent choice if you want someone well-versed in FHA loan originations. The lender was also the No. 1 FHA lender in no less than seven counties across the state.
Much like its regional competitors BancFirst and Bank of Oklahoma, First United maintains a hyperlocal focus and is another participating lender in OHFA's Homebuyer Downpayment Assistance program. This means that depending on your income level, qualifying homebuyers can qualify for a grant of up to 5% of their loan amount toward the down payment on their new homes. Low-income borrowers who qualify through Freddie Mac's HFA Home Possible can receive an additional $1,500 to $2,500 off closing costs through the OHFA. When it comes to homebuyer assistance, poor-credit borrowers have a lot to gain through First United.
How We Chose the Best Mortgage Lenders in Oklahoma
We employed the following criteria while comparing mortgage lenders.
- Total cost: interest rates and closing costs
- Product: terms, programs and specialty
- Servicing: transparency, complaint data and branch network
While interest rates played an important role in our decision, we also looked at each lender's unique terms and fees. Lenders were analyzed on the basis of total cost instead of interest rates alone.
We chose to highlight any competitive advantages that a lender exhibited which weren't common to the industry. For example, most lenders offer conventional fixed-rate mortgages, but a lesser number specialized in niche programs like FHA, VA, USDA or first-time homebuyer loans. We looked at each lender's relative level of expertise on these terms.
We also examined customer service records and public complaint data to try to predict the likelihood of issues arising during the underwriting and servicing process. We summed up each lender's total number of customer service complaints and divided them against the volume of loan originations closed over the past five years. The resulting ratios were then sorted and ranked according to magnitude.
Finally, we mapped out and compared the size of each lender's branch network. This was to assess whether borrowers in less-populated regions of Oklahoma might have access to comparable levels of service as borrowers in Tulsa. This allowed us to determine how accessible each lender was in the state.
Most Popular Home Loan Companies in Oklahoma
We've listed the top five most popular mortgage lenders in Oklahoma based on mortgage origination volume. We've ranked them by the total number of residential mortgages originated over the past five years.
Top 5 Biggest Oklahoma Residential Mortgage Lenders, 2013–2019
|Rank||Company||Mortgage originations||Average mortgage amount|
|1||BOK Financial Corp.||32,533||$137,476|
While these were the most popular lenders by volume, they were not necessarily selected among our top picks. If you're shopping for a home loan in Oklahoma, you may still find it useful to use these lenders as a point of comparison.
It's important to review each lender on a holistic basis by comparing its records for customer service, closing costs and any unique offerings. There might also be other factors that matter to you which might not have been covered in our review. Make sure you evaluate each option according to your own personal needs.
Mortgage Brokers Near Me in Oklahoma
Mortgage brokers in your area can save you both time and money when it comes to shopping for home loans. They can compare home loans from various lenders simultaneously, without requiring you to fill out multiple applications. They are paid to act as an agent on your behalf during the mortgage shopping process.
Listed below are a number of licensed mortgage brokers in your area.
|Stout Lending||13853 Quail Pointe Dr, Oklahoma City, OK 73134||(405) 406-9222|
|Home Mortgage Resource||1699 W 4th St, Tahlequah, OK 74464||(918) 458-0784|
|ZFG Mortgage||6670 S Lewis Ave #200, Tulsa, OK 74136||(918) 459-6530|
|Hunt Mortgage Services, Inc.||708 W 15th St Suite #100, Edmond, OK 73013||(405) 361-5172|
|Country Home Loans||2728 Williams Ave, Woodward, OK 73801||(580) 256-6300|
|PrimeLending||906 W Broadway Ave, Enid, OK 73701||(580) 540-9839|
|America's Lender||2800 W Broadway St, Muskogee, OK 74401||(918) 682-9037|
|Empire Mortgage Services||102 W Gore Blvd, Lawton, OK 73501||(580) 357-9500|
|Home Companies Mortgage||480 24th Ave NW #200-24, Norman, OK 73069||(405) 313-2501|
|Financial Consulting Inc||538 Illinois St, Pawnee, OK 74058||(918) 762-2271|