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As mortgage rates fluctuate, savvy homeowners and prospective buyers know that timing is everything when it comes to refinancing or locking in a favorable rate. With interest rates cuts on the horizon, now is the perfect time to prepare. At First National Bank of Oklahoma, we’re here to guide you through the essential steps to […]
Category Archives: Loans
01
Dec
Dec
In a highly anticipated move, the Federal Reserve has opted to keep interest rates unchanged ahead of their next policy meeting on December 18th. While the FED holds steady, home loan rates have started to trend downward, offering a significant opportunity for prospective homebuyers and current homeowners. What does this mean for you, and what’s […]
all, Loans, USDA
Unlocking the Potential: The Advantages of Partnering with a Seasoned USDA Lender Specialist
22
Feb
Feb
In the vast landscape of financial services, navigating the intricacies of loans and mortgages can often feel like exploring uncharted territory. This rings especially true for individuals and businesses seeking to tap into the benefits of USDA guaranteed loans for rural development. Enter the seasoned USDA lender specialist – a guiding beacon in the realm […]
13
Nov
Nov
If you’re considering investing in commercial real estate in Oklahoma, consider applying for a commercial real estate loan. This financial tool helps entrepreneurs and businesses acquire, develop, or refinance commercial properties. How does a commercial real estate loan work? This blog post will explore everything you need to know about commercial real estate loans. Overview […]
30
Oct
Oct
When it comes to financing options for businesses, two common choices are USDA guaranteed loans and balance sheet loans. These loans play a crucial role in helping companies secure the necessary capital for growth, expansion, or operational needs. However, they have distinct features and eligibility requirements that every business owner should understand before deciding which […]
26
Sep
Sep
Myth 1: USDA Loans Are Only for Farmers and Ranchers One of the most common misunderstandings about USDA Guaranteed Loans is that they are solely intended for farmers and ranchers. This couldn’t be further from the truth, as the USDA Guaranteed loan programs that fall under the OneRD regulation (business + industry, community facilities, rural […]
28
Aug
Aug
In December 2021, the United States Department of Agriculture (USDA) introduced the Food Supply Chain Guaranteed Loan program as a promising initiative to strengthen the nation’s food supply chain. With the American Rescue Plan Act (ARPA) providing the program with a mandate to guarantee approximately $1 billion of qualifying loans, hopes were high for its […]
07
Aug
Aug
Credit scores are a fundamental part of the credit underwriting process. Generally, a good credit score allows an individual to obtain credit, and on better terms, than would be available with a low credit score. A low credit score can severely reduce loan availability, with more credible lenders such as local community banks passing on […]
31
Jul
Jul
Running a farm is hard but rewarding work, particularly if you are on top of your finances. This post will discuss specialized loans that are intended to help farmers grow their agricultural businesses. Whether you are a small-scale farmer looking to expand your operations or a seasoned agricultural entrepreneur planning to invest in modern equipment, […]
24
Jul
Jul
Are you in the market for a home loan and looking to understand the USDA loan vs. FHA loans? Making an informed decision about your financing options is crucial when purchasing a home. This blog post will explore these two loan programs and help you grasp the nuances that set them apart. By understanding FHA […]
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