If you’re planning to settle down in the Sooner State, you’ll be joining 3.9 million fellow Oklahomans who call the state home. There are more than 1.7 million housing units and an above-average homeownership rate of 65.6% in Oklahoma, according to the U.S. Census Bureau’s 2019 American Community Survey.
Oklahoma’s typical housing value is $167,450, which is well below the national median price of $350,300. Home values can vary by region, however, with some counties’ average home prices going lower.
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AmeriSave Mortgage Corp. is an online lender that has been in business since 2002. It was one of the first to offer an offsite digital mortgage experience for customers. The company says it has financed more than 664,000 borrowers since it began operating. With headquarters in Atlanta, AmeriSave services loans in 49 states and Washington, D.C.
Pentagon Federal Credit Union, widely known as PenFed, offers borrowers access to many types of mortgages: conventional, adjustable rate, jumbo and Department of Veterans Affairs, plus refinancing loans and home equity lines of credit. The financial institution, which serves 2.8 million members, was established in 1935 and is based in McLean, Virginia.
PNC Bank is one of the largest banks in the United States, serving more than 9 million customers in all 50 states. A full-service mortgage lender, PNC offers most mortgage loan product types.
Bank of America serves roughly 67 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs and jumbo loans as well as home equity lines of credit and mortgage refinancing.
Guaranteed Rate, founded in 2000 and based in Chicago, offers mortgage options including conventional loans, FHA loans, jumbo loans and interest-only loans to customers in all 50 states and Washington, D.C. Borrowers can take advantage of specialized loan products and Guaranteed Rate’s online application, documentation and loan payment options.
SoFi is an online lender founded in 2011 and headquartered in San Francisco that offers fixed-rate mortgages. Refinance, jumbo and home equity loans are also available.
Best for customer service
Rocket Mortgage, the largest mortgage lender in the nation, was founded in 1985. The Detroit-based company is best known for its fully digital experience of buying or refinancing a home. Rocket Mortgage changed its name from Quicken Loans in the summer of 2021.
Chase, one of the world’s largest banks, was founded in 1799 in New York and offers fixed-rate, refinance and other mortgage loans.
Best for online application and approval
Homefinity launched in 2018 as the online lending division of Fairway Independent Mortgage. It offers a variety of mortgage products, including conventional mortgages, FHA and VA mortgages, and mortgage refinancing.
Alliant Credit Union is a not-for-profit financial cooperative that serves customers in all 50 states. Alliant offers products such as conventional, jumbo, refinancing and home equity line of credit loans, but specific mortgage products may not be available in certain states.
The average mortgage rate in Oklahoma is currently 5.57% for the 30-year fixed loan term.
Here are the interest rates offered to Oklahoma residents looking to buy or refinance a home as of 02/07/2023:
- 30-year fixed purchase: 5.57%
- 30-year fixed refi: 6.05%
- 15-year fixed purchase: 7.93%
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Oklahoma homebuyers can get favorable mortgage rates and help with down payments and closing costs from these programs.
- Available to: First-time homebuyers, repeat buyers, teachers, first responders and state employees, and buyers who have their own down payment and closing costs.
- Income limits: Vary by county (see income limits).
- First-time homebuyers only?: No.
- Loan options: 30-year fixed-rate mortgages.
- Down payment and closing cost assistance: OHFA offers 3.5% down payment assistance of the total loan amount toward your home purchase.
- Available to: Homebuyers with a credit score of 640 or above who are certified public- or private-school teachers; professional or volunteer firefighters; law enforcement officers; emergency medical services personnel; employees of any Oklahoma state agency.
- Income limits: Vary by county (see income limits).
- First-time homebuyers only?: No.
- Benefit: OHFA offers a discounted mortgage interest rate for homebuyers in these professions.
- Down payment and closing cost assistance: No.
U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.
To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.
The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.
To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.
To recap, here are the picks:
Best Oklahoma Mortgage Lenders of 2023
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who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.
