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Mortgage Loans

Mortgage Loans

Education Module

Understanding Mortgages
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Considering Home Ownership?
Buying a home can be a big step. According to Consumer Reports, credit unions are the best in terms of providing trusted, professional, and affordable mortgage services. From pre-qualification to insurance, Oklahoma Central Credit Union makes it easy.

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:

  • Primary residence
  • Second home
  • Investment property
  • Vacation home
  • Construction
  • Land
  • FHA

  Mortgage Term Options
  • 7-year
  • 10-year
  • 15-year
  • 20-year
  • 30-year

Fixed home equity and home equity line of credit loans are resources for our members to borrow extra cash for home improvement, refinance, debt consolidation and other reasons. Borrow only as much as you need, when you need it.

Fixed Home Equity Loan (Second Mortgage) - NO CLOSING COSTS!
  • Home Improvement, refinance, debt consolidation, tuition and other reasons
  • Primary Residence, Second Home, Vacation Home, not Investment Property
  • Flexible Loan terms (5-year, 10-year, 15-year)
  • Minimum loan $10,000; Maximum loan $100,000
  • Receive all funds up front, fixed monthly payment
  • Financing up to 95% of value minus 1st mortgage balance

Home Equity Line of Credit - NO CLOSING COSTS!
  • Home improvement, tuition and many other reasons
  • Variable Rate
  • Available for Primary Residence Only
  • Borrow only as much as you need, when you need it
  • Pay interest only on amount borrowed
  • Minimum loan $10,000; Maximum loan $100,000

Calculate a Monthly Payment Apply Now

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.

For a conventional purchase loan for a primary residence, assuming 5% down payment, with a first lien loan amount of $95,000 and a 15-year fixed rate of 3.125%, the APR* is 3.457% and the monthly payment for principal, interest, and mortgage insurance would be $689; with a 10-year fixed rate of 3.125%, the APR is 3.523% and the monthly payment for principal, interest, and mortgage insurance would be $950. An estimated amount of $42 for private mortgage insurance is included in the quoted amount. An escrow account would also be required, which would increase the monthly payment to include homeowner’s insurance, real estate taxes and flood insurance if applicable. Subordinate liens are not eligible.

For a conventional refinance loan on a primary residence with a loan amount of $70,000, 70% loan to value, with a 7-year fixed rate of 4.25%, the APR is 4.566% and the monthly payment for principal and interest would be $965. Escrows not allowed. Minimum loan amount $55,000.

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 5.50%, the APR is 5.50% and the monthly payment for principal and interest would be $478.

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