Most business owners in Oklahoma are going to one day need the services of Oklahoma mortgage companies. Because most businesses do not have the available cash flow to purchase a business location outright, they must finance the purchase. Fortunately, many mortgage companies in Oklahoma are willing to help you with a loan.

By choosing to work directly with mortgage lenders in Oklahoma, you may have an advantage over working with national companies. Oklahoma mortgage lenders are familiar with any state laws and fees that may apply to your Oklahoma mortgage. A good mortgage company in Oklahoma may even be able to get you a special deal through their in-state connections.

When comparing the Oklahoma mortgage rates of different companies, you should:

1. Look at the mortgage rates offered by mortgage companies in Oklahoma as well as those offered by nationwide companies.
2. Choose Oklahoma mortgage brokers who specialize in commercial real estate loans for businesses.
3. Research the zoning laws for the property that interests you. Laws can forbid you from doing certain kinds of business in a property and you should make sure that the property you purchase has the proper zoning for your business.
   

Action Steps
The best contacts and resources to help you get it done

Verify the qualifications of your Oklahoma mortgage lender

When choosing a mortgage company, you should always verify that they have a license to do business in Oklahoma. You can do this by seeing if they are member of local professional organizations.

I recommend: The Oklahoma state government maintains a list of current brokers in the state of Oklahoma. You can view the list from this page.

Compare the rates of Oklahoma mortgage companies online

With just a click of a button, you can receive rate quotes from several mortgage lenders in Oklahoma. This makes it easy to compare rates and get the best loan.

I recommend: You can receive free mortgage rate quotes from Lender411.com and LoanNetwork.com.

Apply for a loan from a local Oklahoma bank

Many Oklahoma business owners prefer to work directly with banks in Oklahoma. Local banks may be more willing to work with small businesses in Oklahoma. You are often able to negotiate a lower rate when you work with a smaller company.

I recommend: The Bank of Oklahoma offers commercial real estate loans up to $2.5 million. Oklahoma Fidelity Bank specializes in providing local businesses with financing.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Mortgage lenders in Oklahoma will base their decision to give you an Oklahoma mortgage loan on your credit score and business plan. Make sure that both are in excellent condition before you apply for a loan. If possible, have a professional business plan writer look over your business plan.
• •  When comparing the rates of Oklahoma mortgage lenders, make sure that the rates you compare are from the same period. Mortgage rates fluctuate over time and you want to be sure that you are comparing apples to apples.