Areas We Serve
As you search mortgages in Oklahoma, understand that Griffin Funding can provide service virtually anywhere in Oklahoma. Some of the areas we serve include:
- Broken Arrow
- Oklahoma City
No matter what type of home loan in Oklahoma you are looking for, we have plenty of options for you to choose from. You may qualify for a VA loan with no down payment, an FHA loan that only requires a 3.5% down payment, or a traditional mortgage loan to purchase your new home.
Types of Mortgage Loans Available in Oklahoma
When it comes to mortgages in Oklahoma, Griffin Funding is here to provide you with flexibility and solutions that enable you to buy a home. We offer traditional fixed-rate mortgages, jumbo loans, adjustable rate mortgages, FHA loans, VA loans, bank statement loans, DSCR loans, and a variety of other loans to work with your situation. When you don’t have a traditional job, or it is difficult to prove your income, we will work with you to find the mortgage loan that is right for you.
The two main types of traditional mortgages in Oklahoma are fixed-rate and adjustable-rate mortgages. With a fixed-rate mortgage, the monthly payment doesn’t change over time. This is the most common home loan, as it makes it easy to stay within your budget over the years. If you qualify for a low interest rate, a fixed-rate mortgage is often a stable choice for aspiring homeowners.
On the other hand, the interest rate on an adjustable-rate mortgage can fluctuate depending on real estate market conditions. While adjustable-rate mortgages offer less certainty, you can potentially save money if interest rates drop but risk paying a higher interest rate if market rates swing upwards.
Non-QM Loans in Oklahoma
At Griffin Funding, we understand that you may need an alternative loan to purchase a new home. We provide Non-QM loans that make it possible to verify your income through non-traditional means. If you have enough income, it is possible to buy a new home with different loans such as:
- Bank statement loans in Oklahoma
- Jumbo loans with 10% down
- DSCR loans
- Asset-based loans
- Foreign national loans
- Interest-only loans
- Recent credit event loans
- 6 month SOFR loans
When you meet with a loan specialist from Griffin Funding, you will get to discuss all the details of finding the right mortgage for your new home. You will be able to find the funding you need and purchase the home of your dreams through our streamlined application process.
Oklahoma Mortgage Qualification Requirements
When you apply for a mortgage in Oklahoma, the requirements for the loan will depend on a number of factors. Each type of mortgage has its own requirements, and you will qualify for the lowest interest rates when you exceed the minimum qualifications for each type of loan.
Mortgage requirements can be based on your credit score, your income level, the value of your assets, your debt-to-income ratio, and so on. In most cases, demonstrating a stable income and a credit score that is above 700 will enable you to secure approval for more loan options and benefit from low interest rates and favorable terms.
Griffin Funding can work with potential home buyers of all backgrounds in order to find the right home loan. Whether you’re a first-time home buyer or a real estate investor or are trying to rebuild your credit, we can assist you in finding an Oklahoma home loan tailored to your needs.
What Credit Score Is Needed to Buy a House in Oklahoma?
In general, most borrowers will need to have a credit score of 500 or higher in order to qualify for a mortgage. If needed, you can try to raise your credit score by paying down debt and paying all of your credit card bills on time. The higher you can get your credit score, the better rates and terms you will be able to get for your mortgage loan.
What Is the Minimum Down Payment for a Home Loan in Oklahoma?
What you pay for a down payment for your new home will depend on the type of mortgage loan you get to purchase your property. For a traditional mortgage, most borrowers are advised to put down around 20% of the home’s purchase price. However, not all types of loans require the same down payment.
With an FHA loan, for example, you may be able to put down as little as 3.5% of the purchase price of your new home. Or, if you can get a VA loan, no down payment is required. Apply for a Home Loan in Oklahoma
Apply for a Home Loan in Oklahoma
If you are looking to secure a mortgage loan in Oklahoma, fill out an online application today. Griffin Funding is a full-service mortgage lender serving buyers throughout Oklahoma. Our loan specialists will work with you to determine what loan is best for your needs. We have a wide range of mortgage products to choose from and offer competitive mortgage rates in Oklahoma, along with excellent customer service. Reach out to learn more about how Griffin Funding can help you get a home loan in Oklahoma.