Home Loan Questions

This show originally aired January 30, 2010.

Listen to the Show HERE!

The topics for this show include:   Karen Heston with BOK Mortgage answers questions on getting a home loan;  Duane Montgomery with Montgomery Exterminating discusses how to control pests.

How much does it cost to apply for a home loan?  It doesn’t cost anything.  BOK runs a credit report for free.  If the loan closes with us you will pay for that cost, however if you don’t close with us then you will not be required to pay. Pre-qualifications are only good if everything is done correctly and honestly.

How much debt can you have to get a home loan?  Debt is considered anything outside of your normal living expenses.  Examples include:  car payments and credit cards.  We use the minimum payment required on those loans.  Approximately 31% of your income can be for housing and 43% for total debt.  Those are conservative ratios.  Keep in mind it is important to pay your bills on time and keep a great credit score.

How much down payment does someone need?  There are various loans with various types of downpayments.  There is a loan that allows for 100% financing.  FHA requires 3.5%, Conventional requires 5%.

To apply for a home loan in the Tulsa, OK area, call Karen Heston of BOK Mortgage at 918-230-9432 or visit her website.

For homeowners insurance quotes, contact Mike Tedford of Tedford insurance at 918-299-2345 or www.tedfordinsurance.com.

What’s the best way to take care of pests around your home?  Pesticides used inside are generally safe once they are dried.  They kill based on weight so humans would have to ingest alot.  To determine what is best for your home would be for us to come out and look at your home. Many times we can treat the outside regularly and treat the inside as needed.  We have a popular program- we treat the outside of your home every month and if you have a problem inside we will come back and treat there.  The prices generally start about $35 dollars a month, larger homes cost a little more.  If you have a problem inside we treat for free with this program.

There is a 100% chance that your home will get termites at some point.  We offer the Sentricon system.  We place material outside of your home, all around the perimeter and check them regularly.  If there is a problem, we place pesticide inside that will cause the colony to die.

For more information on treating pests and termites in Oklahoma, contact Duane Montgomery of Montgomery Exterminating at 918-438-4885 or www.montgomeryexterminating.com.