Oklahoma Central Credit Union. The best kept secret in home lending.

Andrew's Home Upgrade

Andrew made his house a home with a little help from Oklahoma Central Credit Union - you can do the same with a home equity loan! Get an upgrade by using your home's value. Consider leveraging home equity to achieve your financial goals and make the most of your homeownership.

Fixed Home Equity Loan (Second Mortgage) - NO CLOSING COSTS!

At Oklahoma Central Credit Union, you can skip the closing costs on a second mortgage loan or HELOC. OCCU will pay the closing costs for you! Are you wondering... Can I get a second mortgage? Do I qualify for a second mortgage or HELOC? Which loan is better - HELOC or second mortgage?

Unlock the value in your primary residence, second, or vacation home with our Fixed Home Equity Loan, and the best part - no closing costs! Whether you're considering home improvements, refinancing, debt consolidation, or funding tuition, this loan offers the financial flexibility you need.

What does a second mortgage mean? How do second mortgages work? How do I get a second mortgage? With the flexible loan terms OCCU offers, we can help you find the RIGHT LOAN. Whether a HELOC or second mortgage, our trusted loan experts are here to advise.

What to look for when applying for a second mortgage?

• Must have equity in your primary residence, second or vacation home (investment property does not qualify)
• Can be used for home improvement, refinance, debt consolidation, tuition and other reasons
• Fixed rate with flexible loan terms: 5-, 10-, or 15-year
• Minimum loan $10,000; Maximum loan $150,000
• Receive all funds up front, fixed monthly payment
• Financing up to 95% of value minus first mortgage balance

Apply Now

Home Equity Line of Credit - NO CLOSING COSTS!

Unlock the financial potential of your home with our Home Equity Line of Credit (HELOC), and the best part - no closing costs! This flexible credit line, available for your primary residence, empowers you to borrow as much as you need, when you need it, for various purposes such as home improvement, tuition, and more.

What to look for when applying for a HELOC?

• Must have equity in your home (primary residence only)
• Can be used for home improvement, tuition and many other reasons
• Variable rate
• Borrow as much as you need, when you need it
• Pay interest only on amount borrowed during the 5 year draw period
• 10-year repayment period
• Minimum loan $10,000; Maximum loan $150,000

Apply Now

OCCU’s second mortgage low interest rates allow you to make the home improvements and additions you’ve always wanted. A second mortgage can be a good idea, rather than having to wait and putting off those much needed home improvements.

Looking to upgrade your home with a new heating and air system, storm shelter or generator?

Learn more about these programs:

• Heating and Air
• Storm Shelters and/or Generators

Don’t have equity in your home?

There are other ways to pay for your home improvement projects.

Personal Loans

If you are considering financing your project with a credit card, consider a personal loan instead. Compared to credit cards, our personal loans typically have lower, fixed interest rates that enable you to properly budget your repayment and still leave available credit on your cards for day-to-day conveniences.

Refinance Your Vehicle

With our great automotive rates, refinancing your existing auto loan can help save on your monthly payment allowing you more money in your pocket to spend on home improvements.

We make it easy for you to find the option that best fits your needs. Learn more about how we can help finance your home improvement ideas.

• Call Member Services at 918-664-6000, ext 480
• Visit one of our branch locations and talk to a Member Financial Representative.

Calculate Monthly PaymentApply Now

Don't want to apply online?

Stop by any branch location or call 918-664-6000, ext 480, to speak with a Member Representative.

Rate based on Prime as Index. Loans with LTV below 80% are price based on prime plus 1.5% APR margin with floor of 4.75% APR; loans with LTV 80% to 95% are price based on prime plus 2.5% APR margin with floor of 5.75% APR. The current prime rate is 7.50% APR. APR = Annual Percentage Rate. All rates are subject to change without notice. Rates are subject to credit approval. Must have or open share account with a minimum $25 balance.

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 7.24%, the APR is 7.24% and the monthly payment for principal and interest would be $498.

*APR = Annual Percentage Rate. For loans with an LTV below 80%, introductory rate is 8.24% APR for the first six consecutive billing cycles but can adjust based on Prime. The rate for the rest of the term of the loan will be based on Prime plus 1.5% APR margin (9.00% APR as of 12/20/24) with a floor of 4.75% APR. For loans with an LTV 80% to 95%, introductory rate is 9.24% APR for the first six consecutive billing cycles but can adjust based on Prime. The rate for the rest of the term of the loan will be based on Prime plus 2.5% APR margin (10.00% APR as of 12/20/24) with a floor of 5.75% APR. The current Prime rate is 7.50% APR as published in the Wall Street Journal. Home Equity rates and terms accurate as of 12/20/24 and are subject to change without notice. Minimum loan amount is $10,000. Maximum loan amount is $150,000. All offers of credit are subject to credit approval; applicants may be offered credit at higher rates and other terms. Loan-to-value (LTV) restrictions apply. Hazard insurance is required on all loans secured by real property; flood insurance may also be required. Published rates and terms based on owner-occupied properties. HELOC is a variable rate product with a rate not to exceed maximum legal limit currently 18% APR. Consult a tax professional regarding the potential tax deductibility of your interest payments and charges. Must have or open share account with a minimum $25 balance.