918-423-BANK

Home Mortgages

(The Bank NA NMLS #423416) 

We have a variety of mortgage products to fit your needs and have set the standard for outstanding service to our communities. Contact one of our loan officers today to discuss your situation and your financing options at The Bank NA.

If you would like to know if you qualify for a mortgage loan before shopping for a home; download, complete and return the pre-qualification form below and one of our officers will contact you to discuss your qualifications. If you have a contract and are ready to get started; contact one of our lenders today. A checklist of the items needed to begin the approval process is provided below under What to Expect.   

Pre-qualification Form

 

Sayer Brenner sbrenner@thebankna.com (918) 421-4123 McAlester NMLS #478741
Kari Dalpoas kdalpoas@thebankna.com (918) 421-4120 McAlester NMLS #479496
Krista Reimer kreimer@thebankna.com (405) 385-5746 Stillwater NMLS #412985
Jacqueline Ritter jritter@thebankna.com (405) 385-5748 Stillwater NMLS #490588
Diana Kincaid dkincaid@thebankna.com (405) 379-2265 Holdenville / Maud NMLS #480977

 

TBNA Adjustable Rate Mortgage

We offer an adjustable rate mortgage loan (ARM) that is originated and serviced for the life of your loan right here at The Bank NA!  This is a fully amortizing loan so there will be no balloon[1] payment at the end of the loan.

Our ARM loan is a great option for remodeling or renovating your primary home, your lake house or even a rental property.  This financing option is also available to purchase a mobile home you will permanently attach to your land.

Are you self-employed or have other non-traditional sources of income? A TBNA ARM loan is a great option for you.

 


[1] A final loan payment that is much larger than the payments have preceded it.

 

Secondary Market Loans

We also offer long term, fixed rate loans that are originated here at The Bank NA and sold to a secondary market investor after your loan is closed.  The Bank NA offers a variety of programs for homebuyers and owners through our investors.  These include, but are not limited to -

  • Conventional loans
  • FHA & VA Government Loans
  • USDA - 100% loan

 

Construction & Land Purchase Loans

Want to build your dream home? Come in and let us help you purchase the perfect lot or piece of land to make this dream come true. When you are ready to build, we can help you with that, too. We also finance manufactured homes that are affixed to your land.

 

 

What to Expect When Applying for a Mortgage
 

Checklist

  • Application / Disclosures
  • Pay stub(s) covering the last 30 days for all applicants
  • W-2 forms for the last two years for all applicants.
  • If self-employed, complete personal and business tax returns for the last three years
  • Executed purchase contract, if applicable
  • Driverís license(s) and social security card(s)

The following additional items will be requested for Secondary Market loans

  • Bank statements for the past two months for all checking and saving accounts.
  • Complete 401(K) and IRA statements, if applicable
  • Telephone number where employment can be verified

 

Mortgage approval process

Once you have collected all your documents and completed the application, your lender begins to process your application and verify the information you have provided.

There are 4 key factors involved in the mortgage approval process:

1. Income. "Is this income enough to cover the new mortgage payment and all your other monthly expenses?" This is the most important factor, because your ability to comfortably afford the home loan is the key to successful homeownership.

2. Your payment history. Your payment history and credit score are indicators to lenders of your likelihood to make payments in the future. Your payment history plays a role in the mortgage loan process because it helps lenders evaluate your ability to manage debt. It reflects how repayment of your bills has been handled in the past. In some cases in which borrowers don't have an extensive credit history, lenders may consider alternative payment records, such as rental payments and utility bills.

3. The source of funds. Your lender will verify your down payment funds and ensure you have enough money to cover closing costs .

4. The value of the property. Your lender will carefully look at the appraisal of the property you are purchasing to verify that it meets or exceeds the purchase price. A lender will order the appraisal to be performed by one of their approved appraisers. This cost will appear on the HUD-1 closing document as part of the closing costs.

The mortgage approval process can take anywhere from 2 to 4 weeks - sometimes more. To avoid delays, make sure you know what documents you will need to provide with your application, stay in touch with your lender throughout the process, and respond quickly to any requests.

 

Conventional Fixed rate loans

A wide range of terms are available on fixed-rate mortgages, however, the longer the term of the mortgage, the more interest you will pay over the life of the loan. With a longer loan term, your interest rate will likely be higher, but your monthly payments tend to be lower. The shorter the repayment term, the faster you'll pay off and build equity in your home, though your monthly payments will generally be higher.

 

FHA and VA Government Loans

The Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) offer government-insured loans.  These loans can make it easier to buy a home because they require little or no money for a down payment.

 

USDA - 100% loan

The USDA home loan program is one of the last remaining mortgage programs in the country that require absolutely no down payment. USDA home loans also come with low monthly mortgage payments and a low interest rate.  USDA loans do include restrictions on income.  More information can be found at http://eligibility.sc.egov.usda.gov/. You can also determine your eligibility using this link.

 

 

MLO Sheet

Equal Housing Lender