When you finance your home through OKCU you enjoy
Not sure where to begin?
Keep in mind that it may take 30 - 90 days (or more) to locate the right home, secure financing and complete the home-buying process. Here is a quick look at the process of purchasing a home.
Step 1: Get pre-qualified online or over the phone.
Step 2: Return requested documents, including paystubs, bank statements and more.
Step 3: We'll work on processing your loan.
Step 4: Get ready for closing.
- Keep documents and statements readily available.
- Provide all pages of requested documents.
- Inform us of changes to your income, assets or purchase contract.
- Tell us if you or any co-borrower will be unable to attend the closing. A power of attorney may be required.
- Don’t be afraid to ask questions. This may be the largest purchase you ever make and you should feel comfortable with the process.
- Don’t make any unnecessary money transfers between your accounts. This may require additional documentation and may result in closing delays.
- Don’t let your good credit rating slip. This can happen when you miss bill payments, open new credit accounts or charge major purchases on current lines of credit.
Still have questions? Contact us
How much do I need for a down payment?
This amount will vary based on your loan type. Down payments typically range from 0 – 20% of the purchase price.
What does my credit score need to be?
The minimum score to qualify for a home loan is 620 and requires a clean credit history for the past 12 months. The higher your credit score the more options you have for financing your home.
What are closing costs and who pays them?
Closing costs are fees to process and close your loan. Some examples include title insurance, appraisal, recording and credit report fees. You’ll be responsible for closing costs, but you can often negotiate to have some paid by the seller.
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