Capital Home Mortgage Oklahoma

Oklahoma Reverse Mortgages

Oklahoma Reverse Mortgage Lender

Welcome to Capital Home Mortgage Oklahoma.  Where our goal is simple, to provide Oklahoma Seniors access to every Oklahoma Reverse Mortgage product available while providing sound financial advice of the pros and cons to each of the Oklahoma Reverse Mortgages.   We understand that considering a reverse mortgage is an important decision for seniors and that is why Capital Home Mortgage Oklahoma provides dedicated points of contact throughout the reverse mortgage process to ensure that every question is answered and that you have the same representative to walk you through the process.  This assures outstanding customer service and provides a stress-free experience. 

Capital Home Mortgage Oklahoma is a direct Oklahoma Reverse Mortgage Lender that offers seniors both refinance and purchase reverse mortgagees, while managing the entire lending process from beginning to end.  Our in-house processing and underwriting enables for quick, common sense approvals and timely closings.  Rest assured  we have complete control over everything from the application to the funding.

Thank you for the opportunity to earn your business.  Call today (405) 310-8850 to talk begin the process or to one of our Oklahoma Reverse Loan Specialists. 

Oklahoma Reverse Home Loans

Oklahoma Reverse Home Mortgages

An Oklahoma reverse mortgage is a type of loan available to Oklahoma homeowners aged 62 or older that allows them to convert part of the equity in their homes into cash. In Oklahoma, reverse mortgages follow the same basic principles as those in other states, but there may be some specific regulations or considerations that apply. 

To qualify for a reverse mortgage in Oklahoma, you must be at least 62 years old and own your home outright or have a significant amount of equity in it.

Oklahoma homeowners can generally choose between several types of reverse mortgages, including Home Equity Conversion Mortgages (HECMs), which are insured by the Federal Housing Administration (FHA), or proprietary reverse mortgages offered by private lenders.

Before obtaining a reverse mortgage in Oklahoma, homeowners are required to undergo counseling from a HUD-approved counselor. This counseling session aims to ensure that homeowners fully understand the implications and obligations of a reverse mortgage.

The amount of money you can borrow with a reverse mortgage in Oklahoma depends on factors such as your age, the appraised value of your home, and current interest rates. Additionally, the property used as collateral must be your primary residence and meet certain FHA requirements.

Unlike traditional mortgages, Oklahoma reverse mortgages do not require monthly mortgage payments. Instead, the loan becomes due when the borrower moves out of the home permanently, sells the property, or passes away. At that time, the loan, along with accrued interest and fees, must be repaid. If the borrower’s heirs wish to keep the home, they can pay off the loan balance or 95% of the appraised value, whichever is less.

Oklahoma, like other states, has safeguards in place to protect borrowers who obtain reverse mortgages. For example, lenders are required to provide detailed disclosures about the terms and costs of the loan, and borrowers have a “right of rescission,” allowing them to cancel the loan within a certain period without penalty.

It’s essential for Oklahoma residents considering a reverse mortgage to understand how it may impact their eligibility for Medicaid and other need-based benefits. While the loan proceeds typically do not affect Social Security or Medicare benefits, they could impact certain state or federal assistance programs.

Before proceeding with a reverse mortgage in Oklahoma, it’s advisable to consult with a Oklahoma Reverse Loan Specialist who can provide personalized guidance based on your individual circumstances and goals.

Oklahoma Reverse Home Loans

Oklahoma Reverse Mortgages

Retirement life can be challenging, and when you reach the age of seniority or 62 years old in Oklahoma, you’ll potentially have the most extended holiday of your life.  You’ll say goodbye to going to work on Mondays and miss the fun of leaving work on Fridays.  After all, you’re retired.   However, retirement also means that you have limited sources of income.  While you may have insurance, pensions, and investments, they can be inadequate.  The good news is you can access additional financing through an Oklahoma Reverse Mortgage.

An Oklahoma Reverse Mortgage is a home mortgage program where the borrower gives up the equity in their home in exchange for a fixed amount of cash against the equity in their home.  The critical factor here is that the borrower owns and occupies the property as a primary residence.  Reverse mortgages provide qualified senior citizens with a steady stream of additional cash flow during retirement.

This mortgage program is a great way to realize the value of your investment.  Homes are still investments, and most people don’t enjoy their value because they can’t sell them.  With reverse mortgages, you can borrow against the value of your home, receive money from the mortgage, and get to keep staying in your home.  The loan must be repaid when the homeowner sells or vacates the property, or earlier under specific conditions, such as failure to pay property taxes, homeowners insurance, or neglect of home maintenance.

Capital Home Mortgage Oklahoma offers reverse mortgages in Oklahoma.  Call (405) 310-8850 to speak with our Oklahoma Reverse Specialists and discover if a reverse is right for you.

Oklahoma REverse Home Loans

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • Purchase & Refinance
  • Primary Only
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values

Texas HECM Reverse Mortgage

Texas Proprietary Reverse Mortgage

Texas single purpose Reverse

Oklahoma HECM Reverse

Oklahoma Home Equity Conversion Mortgages

An Oklahoma Home Equity Conversion Mortgage is the most prevalent reverse mortgage type because it has no restrictions. In other words, you get to use the money in any way you want enabling seniors to access a portion of their home’s equity.  The HECM allows the borrower to withdraw cash in a fixed monthly amount, a line of credit, or a combination of both.  A HECM can also be used to purchase the borrower’s primary residence as well.  The HECM is insured and regulated by the U.S. Department of Housing and Urban Development (HUD), and under is under the division of the Federal Housing Administration (FHA).

  • Advantages of a HECM
    • No credit score requirements
    • Tax-exempt funds
    • No monthly loan payments are due.  Owner Still Responsible for Property Taxes, Insurance, Property Related Charges
    • Lenient income requirements
    • The ability to obtain funds based on their home equity
    • Depending on their preferences, homeowners can get cash through a line of credit, modified tenure, etc
  • Dis-Advantages of a HECM
    • Property must be their primary residence for most of the year
    • Must repay the HECM if they sell the home or relocate

Oklahoma Proprietary Reverse

Oklahoma Proprietary Reverse Mortgage

An Oklahoma Proprietary Reverse Mortgage is a private mortgage that is not guaranteed by the federal government and is typically issued to borrowers who require more than the HECM maximum. It enables the homeowner to access the equity in their house and utilize the funds for any purpose.  However, they are not regulated; therefore, the loan terms might vary significantly between lenders.

  • Advantages of a Proprietary Reverse Mortgage
    • Homeowners can use the money from their home equity for anything they want.
    • Possible to get more money than with reverse mortgages insured by the government.

Oklahoma single purpose Reverse

Oklahoma Single Purpose Reverse Mortgage

The Oklahoma Single-Purpose Reverse Mortgage is a government or non-profit-backed option for accessing home equity for a particular purpose. A single-purpose reverse mortgage is an agreement between a lender and a borrower in which the lender gives the borrower money in exchange for a portion of the borrower’s home equity. The payments received by the borrower must be used for a specific purpose approved by the lender and specified in the loan.

  • Advantages of a Single-Purpose Reverse Mortgage:
    • Eliminating traditional mortgage payments and accessing home equity while still owning and living in the home.
    • Modifying an asset that would otherwise be hard to sell into cash that can be used to pay bills in retirement.
  • Disadvantages of Single-Purpose Reverse Mortgages:
    • As time goes on, the amount owed to the lender on the loan balance goes up. The home equity decreases as interest and fees are added to the loan balance each month.
    • With a single-purpose reverse mortgage, the money can only be used for the purpose approved and written into the loan.  This limits how the funds can be used.
Why Oklahoma Seniors are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Oklahoma Reverse Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Oklahoma Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Rebecca Solomon

Sr Loan Officer
NMLS #156188

Oklahoma Mortgage Company Reviews

Oklahoma Home Mortgage Programs

Oklahoma Home Purchase loans

Looking to Purchase an Oklahoma Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
  • Primary, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Oklahoma Renovation Home Loans

Looking to Rehab an Oklahoma Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Oklahoma FHA Home loans

Great 1st Time Oklahoma Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.
  • Smaller Down Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

Oklahoma va Home Loans

100% Financing for Oklahoma Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Oklahoma Conventional Home loans

Flexibility for Oklahoma Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
  • Primary, 2nd Home, Investment Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage Terms
  • Renovation Programs Available

Oklahoma Jumbo Home Loans

Oklahoma Non-Conforming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

Oklahoma USDA Home loans

Oklahoma 100% Rural Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Oklahoma Native american Home Loans

Oklahoma Hud 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.
  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase, Refinance, and Renovation

Oklahoma Manufactured Home loans

Great Oklahoma Alternative Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Oklahoma Reverse Mortgage Loans

Your Oklahoma Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Oklahoma Non QM Home loans

Making Oklahoma Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment Properties
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

Oklahoma One Time Close Home Loans

Build Your Oklahoma Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.
  • Primary Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Oklahoma Refinance Mortgage loans

Oklahoma Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Oklahoma Cashout Mortgage Loans

Oklahoma Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Dream Vacation
  • Higher Education

Oklahoma Cities

Oklahoma City Home Loans

Tulsa Home Loans

Norman Home Loans

Broken Arrow Home Loans

Edmond Home Loans

Lawton Home Loans

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