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If you are starting a search for a new home, most likely you’ll need to get a home loan. The process might seem overwhelming if you haven’t obtained a loan in a long time; even more so for first time home buyers. The lending process doesn’t need to be difficult and by being prepared, you can streamline the process and ensure you are able to get the best loan for your needs.

Choose a Lender

The first step is to find a lender. FNB Community Bank would be honored to be your lender of choice. We offer a variety of mortgage plans to appeal to a variety of home buyers — with competitive rates and knowledgeable lenders. Additionally, we would be happy to supply those who qualify with a free pre-approval letter for extra confidence when it comes to securing financing. We are proud to offer a wide range of financing programs:

• Fixed rate mortgages
• Adjustable rate mortgages (ARMs)
• FHA Loans
• VA Loans
• USDA Loans
• Midwest City Down Payment Assistance Program
• And more!

Be Prepared

Before you meet with the lender, gather the information you will need. Generally, you will need to provide current pay stubs, W2s, bank account statements and the last 2 years of your tax returns. If you have been divorced and/or have child support obligations, bring the final court document with you as well.

Understand Your Limits

Typically, you will be able to borrow up to a certain percentage of your gross monthly income. Be sure to talk to your lender about their specific debt-to-income allowances. Be prepared to disclose all your debt, even if it does not appear on your credit report. Your loan officer is your advocate and there to help you succeed.

Don’t Make Any Credit Changes

Once you’ve started the loan process, it’s critical that you make no changes to your credit. Postpone any big purchase, do not apply for new credit of any kind and do not pay off any credit cards. It’s also important not to change jobs during the approval process, even if it’s for more money. Before you do anything, talk to your lender.

Getting a home loan is not as difficult as it was a few years ago, but it’s important to plan early and do the right things. Once you make the decision to buy a home, speak to one of our lenders immediately and then follow their advice and you’ll find the loan process simple to manage.

Already own a home and in need of some financing?

Starting Monday, February 4th, FNB Community Bank will be offering a new, special program for Home Equity loans. The "747 Special" includes the following details:

• 7 year amortization
• 4.70% APR* Fixed Rate
• No fees or closing costs
• Loan amounts from $10,000 to $75,000
• Up to 80% financing

Please contact an FNB Community Bank personal banker for more information.  (405)732-4571

*APR (Annual Percentage Rate) for approved borrowers with approved credit.