Home Mortgage Options in Oklahoma

Many interested homebuyers in Oklahoma don’t realize the wide variety of home financing options available to help them purchase their new home. From conventional mortgages to government-backed loans with flexible qualifying requirements, our mortgage originators can help you find the right loan to cover your home purchase, construction, renovation, or refinance. 

Conventional Mortgages

A conventional mortgage, also called a “conforming loan,” is offered directly from your bank. Conventional mortgages can be used to purchase a home or refinance your existing home loan. With a conventional home loan:

  • Down payments are generally required. Without a down payment, private mortgage insurance (PMI) might be required
  • When used for refinancing, you may be able to cash-out your equity to be used for debt consolidation or other purposes
  • Interest rates can be fixed or adjustable (resetting per the current market rate, at regular intervals)

Use our Mortgage Calculator (fixed rate) and Adjustable Rate Mortgage Calculator to compare your financing options. 

 Use a Bridge Loan to Cover your Down Payment

Homebuyers who are selling their current home often use those proceeds to make a down payment on their new home. If you need to secure funding for your new home before your current home sells, you may be able to utilize a bridge loan:

  • Bridge loans are a short-term lending product
  • Bridge loans use the equity in your current residence to cover the down payment for your new home loan
  • With a bridge loan, you make interest only payments, paying it off in full when your previous home sells

Government-Backed Mortgage Programs

USDA Rural Development Loans

  • For individuals living in designated rural areas, these government-backed loans offered through Vision Bank can provide flexible financing at affordable rates. USDA loans make a great tool for first-time homebuyers and individuals who may not otherwise qualify for conventional loans:

    • No down payment needed
    • More flexible credit requirements
    • Property must be located in a designated, low-population area
    • Some income restrictions apply
    • Can be used to purchase an existing home

FHA Loans

Ideal for first-time homebuyers, these loans are guaranteed by the Federal Housing Administration and offered by Vision Bank. FHA loans can be used to purchase, refinance, or build a home and feature:

  • Low down payments
  • Low interest rates
  • Flexible credit requirements

VA Loans

  • Backed by the U.S. Department of Veterans Affairs, VA loans provide an affordable financing option for current and former members of the U.S. Armed Forces.
    • Available for active, reservist and veterans of the armed forces
    • Low or no down payment
    • No monthly mortgage insurance
    • Can be used for purchase or refinances

Section 184 Indian Home Loan Guarantee Program

  • Established in 1992, Section 184 Home Loans are designed for American Indian and Alaska Native families, Alaska villages, and tribes or tribally designated housing entities. These loans provide affordable loan options for home purchases both on and off native lands. 

    • Low down payments
    • Flexible underwriting terms
    • Can be used to purchase a home or refinance an existing home.

Loans for Building Homes


  • Building a new home? You can utilize a construction loan to cover your land purchase and preparation, planning, and construction costs.

    • Funds can be disbursed little-by-little as needed
    • Enjoy low, interest-only payments on the funds you use
    • Short-term financing, paid off with home loan upon completion of construction
    • You can get pre-qualified for permanent financing before construction begins to ensure a smooth financing transition

Loans for Renovating Homes 

Home Renovation Loans

These loans can be used to finance a renovation of a home—before or after you move in.
• Approved loan amounts are calculated based on your home value after improvements are made
• Start making improvements immediately after closing
• Can use for primary or secondary residence

Home Equity Second Mortgage

A second mortgage program allows you to use your home equity for home improvements and renovations, debt consolidation, and other large expenses. 

  • Fixed interest rate
  • Low closing costs
  • Keep your current mortgage intact

Recreational Land Loan

  • Looking to purchase land for hunting, fishing, or just to relax and unwind? Use a recreational land loan to finance your remote family getaway.

    • Use to purchase or refinance recreational (not income producing) land
    • Adjustable interest rates
    • May require a larger down payment—speak to your lender for specific requirements

Home Equity Line of Credit

  • With a Home Equity Line of Credit you can tap into the equity of your home by using it as collateral. Whether you are looking to pay off high-interest debt, renovate your home or pay for college, a HELOC is there when you need it.