BOK Financial HomeDirect Mortgage

BOK Financial HomeDirect Mortgage Review

BOK Financial HomeDirect Mortgage is offered by BOKF, a bank founded in 1910 and based in Tulsa, OK. BOK Financial HomeDirect Mortgage are available in 4 states across the USA.

Key Takeaways

• Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
• 4 different mortgage programs offered. BOK Financial HomeDirect Mortgage offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Standard interest rates types. BOK Financial HomeDirect Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for BOK Financial HomeDirect Mortgage.
• Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for BOK Financial HomeDirect Mortgage.

BOK Financial HomeDirect Mortgage Pros & Cons

BOK Financial HomeDirect Mortgage FAQ

How much can you borrow via BOKF?

BOK Financial HomeDirect Mortgage allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with BOK Financial HomeDirect Mortgage?

BOK Financial HomeDirect Mortgage offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does BOKF offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does BOK Financial HomeDirect Mortgage charge an application fee?

No, they don't charge an application fee. However, the cost of the loan process is most likely included elsewhere in the closing costs.

Do they charge mortgage origination fees?

Yes, BOK Financial HomeDirect Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, BOK Financial HomeDirect Mortgage offers the following mortgage types:

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
• USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does BOK Financial HomeDirect Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. BOK Financial HomeDirect Mortgage allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for BOK Financial HomeDirect Mortgage is (918) 588-6773.

What is the support contact email?

The support contact email for is socialmedia@bokf.com.