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Loan Options

Building a new home, buying a new home, or buying an older
home needing renovations, we have loan options that work for you

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We offer various options to help you finance your home. Your Home Lending Expert can review each of the following with you to help determine which mortgage loan is right for you, including term length and fixed or adjustable rate.


Loan Type The Benefits The Details

Fixed–Rate Mortgage/ Conventional

With a fixed–rate mortgage, you'll always know what your monthly principal and interest payments will be. You can also lower your monthly payments by spreading them out over a long period of time.

Your interest rate is guaranteed to remain fixed for the length of the loan. The lower/shorter  the term, the more you save in interest payments.

Adjustable–Rate Mortgage (ARM)

An adjustable-rate mortgage (ARM) also called a variable-rate or floating rate mortgage, is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.

Your interest rate is fixed for a period of time, and then converts to an adjustable rate, with periodic adjustments for the remaining term of the loan, based on a benchmark or index plus an additional spread or margin.

Jumbo Mortgage

Financing is available up to 85% of your home’s value with no mortgage insurance for a purchase or refinance with no cash back subject to property type, a required minimum credit score and a minimum amount of monthly reserves.

Example: Loan amount up to $850,000 for a house that appraises for $1,000,000.

Jumbo mortgages are available when you need to finance amounts greater than conventional limits, up to $3 million on an eligible primary residence or second/vacation home, up to $1 million on an investment property.

FHA Mortgage

FHA mortgages offer down payments as low as 3.5%, which can include the use of gift funds. You do not need to meet low-to-moderate income requirements to qualify.

Example: Down payment of $3,500 for a house that appraises for $100,000

An FHA Mortgage is a loan insured by the government. It can be used to purchase or refinance 1– to 4–unit properties dwellings up to a defined limit. Monthly mortgage insurance is required, as well as a mortgage insurance premium paid at closing.

Veterans Affairs (VA)

VA loans have low or no down payment options available and do not have a mortgage insurance requirement resulting in lower monthly payments compared to other options.

If you are a veteran or active-duty service member, or a member of the Guard or Reserve, you may be eligible for a VA loan. These can be used to purchase or refinance 1- to 4-unit dwellings.




DOWN PAYMENT* Minimum 3% down Varies Minimum 3.5% down No money down for qualified borrowers for loan amounts below $453,100
PROGRAM GUARANTEE FEES Private Mortgage Insurance (PMI) if applicable None Mortgage Insurance Program VA Funding Fee if applicable
MINIMUM FICO CREDIT SCORE 620 Varies 580 with AUS approve/accept eligible and max debt-to-income ratio of 43% 580 with AUS approve/accept eligible and max debt-to-income ratio of 43%
Yes Yes No No
Minimum 15% down
Yes No No
(2-4 UNITS) (Y/N)
Yes No Yes Yes
INCOME RESTRICTIONS Standard conventional loans do not have income limits; however, income limits on specialty programs may apply. None None None
MAX SELLER CONTRIBUTIONS 3% if Loan to Value (LTV) > 90%
6% if LTV 75.01-90%
9% if LTV ≤ 75%
2% for investment properties
Varies 6% 4%

Jumbo loans will be based on specific investor guidelines. See your Loan Officer for details.
* Borrower must meet qualification criteria. Not a commitment to lend. 

Kirkpatrick Bank is not affiliated with the U.S. Government.

Home Equity Logo

Home Equity Loans

A home equity loan is a great way to finance home improvements, education, vacations or debt consolidation. Consult with your tax advisor to see how this loan may benefit you.


Loan Application         

*Please complete this form, print it off and mail it to Attn: Personal Loans, Kirkpatrick Bank, 15 E. 15th St. OKC, OK 73013.  Or Fax Oklahoma 405-341-9125   Colorado 719-866-6311
Do NOT email.


Flex Equity Logo

Flex Equity Line

The Flex Equity Loan allows flexibility to obtain funds as needed, unlike a traditional second mortgage, which provides funds all at once. An available balance is established within the credit line, against which checks may be written to cover a wide range of needs, including college tuition, home improvement, or a new business start- up. 


Loan Application         

*Please complete this form, print it off and mail it to Attn: Personal Loans, Kirkpatrick Bank, 15 E. 15th St. OKC, OK 73013.  Or Fax Oklahoma 405-341-9125   Colorado 719-866-6331
Do NOT email.


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