Mortgage

First Home Mortgage

Ideal for anyone looking for the independence of owning their first home (or first home in 3 years).

Saving for a down payment is the most difficult part of the getting into your first home. The typical home mortgage requires 5% of the purchase price at closing, which can be costly and overwhelming. That's why we don't require money down. Yes, that means 100% financing.

Unlike other lenders, we don't require our home buyers to take on the additional monthly cost of PMI. PMI can be between 0.5% and 1% of the value of a loan. Avoiding this added expense can save you thousands. For example, on a $160,000 mortgage, you could avoid paying $8,360 in PMI.

With our competitive low rates, and the option to choose your term you can have more control over how fast you pay down your interest and start building equity toward your new investment.

First time home buyers must not have owned real property in the last three years. Rates on adjustable mortgages may increase after consummation. The rate may be based on the loan term. Must be owner occupied residential property located in the State of Oklahoma. Mortgages not available on rental property, manufactured homes, or modular homes. Maximum loan amount is $300,000 for First Home Mortgage program. Property insurance is required. If the property is in a Special Flood Hazard Area, flood insurance is required if its available. We will take a security interest in your home. You could lose your home if you do not meet the obligations in your agreement with us. Consult your tax advisor for tax deductibility. Please call for programs, rates terms, and conditions. All loan programs, rates, terms, and conditions are subject to credit approval and underwriting requirements and may change at any time without notice.

See Rates for additional terms and conditions

Fixed Rate Mortgage

Ideal for anyone wanting the stability of the same rate and payment structure that will make budgeting easier.

Your mortgage is locked in to protect you from uncertain economic times. If interest rates skyrockets, your payment stays the same. If interest rates drop, you can usually refinance to save money.

Traditional Mortgages required a down payment that can range from 5% to 20% of the purchase price. By only requiring the minimum down payment of 5%, we make it more affordable to get in your home quickly.

If you’re trying to find the simplest path to homeownership, you may find the simplicity of the fixed-rate mortgage very appealing. Fixed Rate Mortgage allow you to make plans around the amount you pay each month without a complex timetable.

No mobile, modular, manufactured, log home or metal constructed homes
Real Estate must be in Oklahoma
See Rates for additional terms and conditions

Adjustable Rate Mortgage

Ideal for anyone wanting a more affordable rate and doesn’t plan on living in one place for a long period.

The 1% periodic interest rate cap gives you protection from large interest rate increases. In addition, the interest rate can only adjust 4% - 6% over the start rate for the life of the mortgage.

Most ARMs adjust every 6 to 12 months. Our ARM only has the potential to adjust every three years for the life of the loan.

ARMs look very attractive at first glance because they’re usually listed with much lower interest rates. While other ARM loans may leave you in payment shock as rates begin to climb, our ARM is designed with open communication and transparency. At closing, you’ll have a clear understanding of your loan and can plan accordingly.

No mobile, modular, manufactured, log home or metal constructed homes
Real Estate must be in Oklahoma
See Rates for additional terms and conditions

Retire Your Mortgage

Ideal for anyone wanting to take advantage of a lower rate and are tired of monthly payments.

Costs for closing can be anywhere from 2% to 6% of the purchase price. With Retire Your Mortgage, we scale down the cost of title work and other expenses, possibly saving you thousands at closing.

Real estate taxes and insurance premiums can fluctuate annually resulting in an increase in your monthly payments. By controlling your own escrow, your budget can be more flexibility by paying them directly.

By trimming your mortgage term, you’ll end up paying much less interest, and accelerate pay off. In addition, this loan can be used to get cash out of your home for anything you need in life.

Minimum $25,000 new money required
Real Estate must be in Oklahoma
See Rates for additional terms and conditions

Anchor for #MortgageRates
Mortgage Rates*
Term Interest Rate (as low as) APR Value Example Payment per $1,000
Retire Your Mortgage 60 months 3.625% 4.071% 80% $18.25
84 months 3.875% 4.201% 80% $13.62
120 months 4.000% 4.236% 80% $10.13
Fixed Mortgage 10 year fixed 4.000% 4.365% 95% $10.13
15 year fixed 4.375% 4.459% 95% $7.59
20 year fixed 4.625% 4.692% 95% $6.40
30 year fixed 4.750% 4.799% 95% $5.22
Adjustable Mortgage 15 year adjustable 4.000% 4.108% 100% $7.40
30 year adjustable 4.250% 4.312% 90% $4.92
First Home Mortgage 15 year adjustable 3.875% 4.520% 100% $7.34
30 year adjustable 4.250% 4.543% 100% $4.92
*Disclosed information may not be applicable for Jumbo mortgages, mortgages in excess of $453,100. Please call for programs, rates terms, and conditions for Jumbo mortgages.

For additional information see Mortgage Rate Terms and Conditions at bottom of page.
First Home Mortgage
Own It!

It’s easier than ever to get into your perfect first home with a First Home Mortgage. Skip the surprise PMI costs and get the keys to your new home with no money down.

Our mortgage experts are available to review your unique needs and help you finance your perfect home.

 
 
 
 
 
 
Anchor for homeequity

Home Equity

  • Second Mortgage
  • Ideal for anyone wanting a one-time, lump-sum loan, with a fixed interest rate to pay for major expenses medical bills, college educations or massive home renovations.
  • Apply Now
  • HELOC
  • Ideal for anyone wanting the flexibility to borrow as much or as little as they need throughout the 10-year draw period. Best used home repairs or smaller renovations, weddings, luxury cars, education, investments, special occasions, legal fees or vacations.
  • Learn More
Second Mortgage HELOC
Interest Rate /APR* 5.5% - 6.75% / 5.706%-6.830% Call
Loan Type Fixed Variable
Installment Loan -
Line of Credit -
Access to Funds One-time Ongoing During Draw Period
Maximum Loan to Value* 100% 95%
No Minimum Draw N/A
Interest Only Payment Option - During Draw Period
Minimum Loan Amount - $10,000
Required Appraisal Determined On LTV Determined On LTV
*Based on your creditworthiness and term. The APR will vary with the market base Prime Rate.
 
 
 
 
 
 
"Do you like to dance to HELOC... like HELOC'd and dropped it?"

-John Robert

Man on the Street

Tulsa Federal Credit Union

 
 
 
 
 
 

Mortgage Rate Terms and Conditions

The displayed Annual Percentage Rate (APR) for “Fixed Mortgages” and “Adjustable Mortgages” assumes a loan amount of $150,000.00 and reflects the interest rate, approximate cost of prepaid finance charges and any origination charge if applicable, but does not include other closing costs. 

The displayed Annual Percentage Rate (APR) for “Retire Your Mortgage”, “Second Mortgage/Home Equity”, and “Unimproved Land” assumes a loan amount of $50,000.00 and reflects the interest rate, approximate cost of prepaid finance charges and any origination charge if applicable, but does not include other closing costs. 

The APR is calculated based on a loan to collateral value of 80% for fixed rate first position mortgage programs. 

The rate may be based on creditworthiness, loan to value of the collateral and term of loan. Rates provided are based on current market rates and are informational only. Rates on adjustable mortgages may increase after consummation. 

Example payments per $1,000 are for stated term. Payment amounts are estimated and include only principal and interest amounts. Actual payments may be higher and may include taxes and insurance premiums, if applicable. 

Primary residence and second home mortgages are available for first position mortgages. Second mortgages and home equity loans are available on primary residence properties only. Must be owner occupied residential property located in the State of Oklahoma. Mortgages not available on rental property, manufactured homes, or modular homes.  

Property insurance is required. If the property is in a Special Flood Hazard Area, flood insurance is required if its available.  

We will take a security interest in your home. You could lose your home if you do not meet the obligations in your agreement with us.   

Consult your tax advisor for tax deductibility. 

On adjustable mortgage with terms of 15 years or less the adjustments are every three years and are capped at 1% with a 4% total increase over the life of the loan. 

On adjustable mortgage with terms of more than 15 years the adjustments are every three years and are capped at 1% with a 6% total increase over the life of the loan. 

First Home Mortgage program maximum loan amount is $300,000. First time home buyers must not have owned real property in the last three years. 

If you have any questions or require current rate information, please call the Credit Union at 800.256.5626 or 918.610.0200. 

All loan programs, rates, terms, and conditions are subject to credit approval and underwriting requirements and may change at any time without notice.