Home Loans - Mortgages | TTCU Federal Credit Union - Tulsa
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Home Loans

When you need a home loan, you can trust us to give you great service, great rates and a smooth closing process with no surprises.

First Mortgages

Our experts are here to help take the hassle out of home buying. We’ll help you get pre-approved for a home loan so you'll know ahead of time the price range of homes to consider. When you're negotiating a purchase, being pre-approved often gives you an edge with the seller.

  • Fixed or adjustable rate mortgages
  • 15-year and 30-year terms
  • VA and Native American Section 184 loans
  • Specialty / nontraditional home loans
  • Our local team will always service your loan
  • Low closing costs; no hidden or unnecessary fees
  • Lock-in a great rate for up to 45 days

read more about first mortgages

Selecting Your Mortgage


There are two big factors to consider when selecting your mortgage: a fixed rate or adjustable rate mortgage, and how long to make the term.

  • Fixed-Rate Mortgage Your interest rate and monthly payments will remain constant during the life of the loan. We offer 15-year and 30-year fixed-rate mortgages.
  • Adjustable-Rate Mortgage (ARM) Your interest rate and monthly payments will change periodically based on the value of an index, plus a margin. We offer a 5-1 ARM, which has a fixed interest rate for the first five years and an annually adjusted rate thereafter (maximum term 30 years).


What Can I Afford?


With so many options in today’s housing market, we suggest identifying the appropriate price range for your financial situation. Our mortgage loan originators can help you determining this appropriate range.


Loan Approval


Your qualification for a mortgage loan is based on your ability to make monthly payments (assuming the minimum down payment and closing costs are covered). We also consider your credit history, household income and the appraised market value of the home you are purchasing.


The Loan Process


We know the time after you submit an application can be stressful. We've found that the process usually takes 30 to 45 days from start to finish. Here's what goes into the process:

  • We verify your application packet is complete
  • The property is appraised
  • We verify your employment and funds
  • Your credit report is ordered
  • Your loan officer reviews all the items above
  • We prepare the loan for your commitment
  • Once you've accepted and any conditions are met, a closing can be scheduled
  • We conduct a title search
  • The property is surveyed
  • Time for closing!


Title Services


For title services, TTCU recommends Integrity Title & Closing, LLC. Integrity Title is a wholly-owned subsidiary of TTCU Federal Credit Union and was formed to ensure that everyone receives the same high level of TTCU service throughout the closing process.

For information, call 918-749-9130, or e-mail [email protected].


Important Real Estate Terms


  • Cap: A provision of an adjustable-rate mortgage that limits how much the interest rate or mortgage payments may increase or decrease.
  • Contingency: A condition that must be met before a contract is legally binding. For example, the home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report.
  • Debt-To-Income Ratio: The ratio of a borrower’s monthly payment obligation on long-term debts divided by gross monthly income expressed as a percentage.
  • Escrow: Money, documents or other items of value in the care of a third party. The third party releases the items upon the fulfillment of a condition. For example, a deposit by the borrower to the lender would be kept in escrow, to pay real estate taxes and insurance premiums when they become due.
  • PMI: Private mortgage insurance protects the lender in case of default by the borrower. PMI is often used when buyers get financing with less than a 20% down payment.
  • Points (Loan Discount Points): Prepaid interest assessed at closing by the lender. Each point is equal to 1% of the loan amount.
  • Principal, Interest, Taxes and Insurance (PITI): The four components of a monthly mortgage payment. Also referred to as the loan payment.
  • Title Insurance: A separate insurance policy purchased for the benefit of the lender and buyer. The policy protect against error, omissions or defects in the title of a property.


Home Equity Line of Credit (HELOC)

Unlock the equity in your home and put it to work for you! There are many reasons you might want to use the equity in your home – to add an extra room, consolidate other debts or take that dream vacation. We can help you with a home equity line of credit or a second mortgage.

  • Two HELOCs available: 1 month ARM and 3-1 ARM
  • Loans are secured with the equity in your primary residence
  • No points or annual fees*
  • Borrow up to 100% of your home’s value
  • Use the line of credit as you need it
  • Low monthly payments
  • Interest may be tax deductible; consult your tax advisor
  • $10,000 minimum credit line
  • Access your line of credit at a branch, online or by phone
  • Interest-only payment options
Second Mortgages:
  • Fixed-rate second mortgages
  • 5-, 10- and 15-year terms available
  • Loans are secured with the equity you have in your primary residence


Contact a Mortgage Loan Originator for assistance.

Current rates and disclosures


* With approved credit. Rates are subject to change. Property and flood insurance may be required. You may be required to reimburse TTCU for HELOC closing costs if the credit line is closed within the first 3 years. You may be required to pay for the full appraisal if you request a full appraisal.

read more about home equity lines of credit

Two HELOC Options:


  • With a 1-month ARM, the initial rate is in effect for one month. After the first month the annual percentage rate is based on the value of an index, plus a margin. The annual percentage rate may vary. There is no minimum rate and the maximum rate is 18%.
  • With a 3-1 ARM, the initial rate is fixed and good for three years. After three years the annual percentage rate is based on an index plus a margin and may vary monthly. There is no minimum rate and the maximum rate is 18%.


Minimum Monthly Payment


The minimum monthly payment is the accrued interest only or $30, whichever is greater, for five years. This five-year period is called the draw period. During the draw period, you may keep the credit line open even if it has a zero balance. Additional five-year draw periods may be requested. The loan is then converted to a 15-year amortized loan during which the payments include both principal and interest.


Processing your HELOC


The following information is needed to process your new Home Equity Line of Credit. Please bring this documentation so your application is not delayed.

  • Identification: Current driver's license and social security card for each borrower.
  • Income verification:
    • One full month’s (30 days) paycheck stub
    • W-2 or 1099s for past two years
    • Federal income tax returns past two years
    • If self-employed, commissions or rental income
      • Corporate tax returns with all schedules
      • Year to date P&L
  • Assets: Most recent statements for all applicable
    • Savings and checking accounts (2 months on all accounts other than TTCU)
    • Stocks, bonds, annuities
    • IRA or 401K
    • CDs
  • Deed: Filed warranty deed, quitclaim deed or legal description
  • Insurance: Current homeowners insurance policy declarations page


Construction Loans

Going through the lending process once is a challenge. Our experts are there to help you through the construction phase and purchase financing.

  • Save time and money
  • Ask for details

Investment Property Loans

If you're considering a rental property, we offer investment property loans. Get the same great benefits of a traditional mortgage loan.

Land Purchase Loans

If your dream is to build a home on your own land, we can finance it. We lend on parcels of land, up to 10 acres, on which you intend to build your primary residence sometime in the future.
  • Land must be in Oklahoma and vacant
  • Maximum 15-year term
  • First mortgage loans only
  • No commercial or industrial zoning accepted
  • Max 10 acres
  • Purchase and refinance max loan-to-value up to 80%
  • Purchase loans only >80% up to 100% max loan-to-value
  • Loans limited to one per household