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:

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

Apply Now CHECK RATES

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.

LEARN MORE ABOUT HOME EQUITY LOANS

First-Time Home Buyer Program

If you've never purchased a home or haven't owned a home in the last three years, you qualify as a "first-time home buyer."

Our program is designed to educate potential homeowners about mortgages and factors to consider when buying a home. It will teach you how to read and understand your credit report, and how to budget for housing expenses. Once you complete the program, we'll discount your closing costs to get you into the house that will become your home.*

Eligibility and program details:

• Have not owned a home in the previous three years
• Minimum credit score of 680
• Must occupy the home once purchased
• Loan maximum $250,000
• Receive $500 discount toward closing costs*
• Obtain a certificate of completion from the Financial Capability Center for the following training modules:
  • Considering Home Ownership
  • Credit scores and reports
• Fixed interest rate loan
• 100% financing up to the value of the home with no PMI (Private Mortgage Insurance is not required. Typically, if your down payment on a home is less than 20%, you’ll have to pay for mortgage insurance.)
• Contact Member Services for available loan terms (918-664-6000, select option 8)

If you are already a member, click here to begin the program.

Not a member? Apply now.

QUESTIONS? Call 918-664-6000, x364 or email RealEstate@OklahomaCentral.org.

*Qualifications for First Time Home Buyer program include; Loan balance must be between $90,000 - $250,000 to qualify for the $500 discount; have not owned a home in previous three years; minimum credit score of 680; must occupy home purchased; Membership conditions may apply.

Based on a $100,000 purchase price with $5,000 down (5% minimum down payment required), monthly payments on a 30-year mortgage based on an interest rate of 5.125% with APR of 5.611%. The monthly payment for principal, interest and mortgage insurance would be $564. Escrow accounts will increase the monthly payment. Rate listed is for a first-lien mortgage. The rate may vary depending on each individual’s credit history and underwriting factors. Not all applicants will qualify. Programs, rates, terms or conditions are subject to change without notice. Other restrictions may apply.

For a conventional refinance loan with a loan amount of $80,000, 80% loan to value with a 10-year fixed rate of 4.625%, the APR is 4.840%. The monthly payment for principal and interest would be $834. Escrow accounts will increase the monthly payment. Rate listed is for a first-lien mortgage. The rate may vary depending on each individual’s credit history and underwriting factors. Not all applicants will qualify. Programs, rates, terms or conditions are subject to change without notice. Other restrictions may apply.

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