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BOK Financial Mortgage, formerly HomeDirect Mortgage, is part of a multi-billion dollar financial services group offering online mortgage origination. Our automated online application takes the hassle out of applying for a mortgage and provides an experienced mortgage banker to guide you through the loan process. We offer Conventional, FHA, Jumbo, VA, Advanced Medical Professional mortgage loan options as well as refinance. Contact us today to learn more about BOK Financial Mortgage.
BOK Financial Mortgage, a division of BOKF, NA. Member FDIC, Equal Housing Lender.
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I went through divorce, and so, I had to pay my ex off. And I have another house that has been completely paid for that I had to take the mortgage out on in order to do that. I also needed to pay off the loan. I was given really good rates on the mortgage that I had on the home with BOK and I was happy with them. Another thing I like about BOK is they don’t sell the loans.
I’ve got cash-out refi. I had the house completely paid for and then I took cash from it. The application process was painless and efficient. It took maybe a week or so. Jim has been the only lender I ever work ‘cause he’s very trustworthy. He was a straight shooter. So, if he can do something for you, he tells you. If he can’t, he’ll tell you that as well. And he doesn’t come up with hidden costs later down the road when you’re thinking, “Okay, this is what we got,” and then, the all bait-and-switch type of thing. I did work in the past with lenders that would tell you one thing and then on the midnight hour changed it or it had some hidden costs there. With Jim, everything’s straightforward and transparent, which is what I really like. And this isn’t the first transaction he’s done, not only for me. I’ve recommended him to family, friends and colleagues of how well he’s done.
Working with BOK impacted me in a very positive way because of the interest rates. Prior to years ago, when I first met Jim, I was with Wells Fargo looking to refinance and they couldn’t compete with the rates and the terms. So, I wanted to try BOK. I was a little nervous because they were out of state. But everything went very smoothly. I have a 15-year loan with them for a few years at 2.75 fixed rate. Now, unfortunately, it's a 4.5 at a 30-year ‘cause it’s not my primary residence that I pull it from.
Now that everything’s closed, Jim can get my primary residence down to 3.5. My ex didn’t allow that to happen, unfortunately. So, it wound up costing me more to get that down. That has no reflection on Jim. Jim told us what was the best thing to do and how to do it. I can just refinance. It’s just a difference between closing costs. I don’t know how the rates would change, if they’d change for the better or the worse, upfront, in a couple months’ time. But I am gonna be reaching out to Jim here shortly. And we’ve already discussed and he already knows that I’m coming to refi and put the loan back on my primary residence, not my investment home.
I had my loan through HomeDirect Mortgage before I did the refinance. I didn’t know the process would take long because this is the first refinance I’ve done, and it seems like forever. But they communicated what was going on every step. If I had any questions, they were really good at answering quickly. They communicate through email, which works for me. I like their eagerness. They were doing what they said they were gonna do or following through with any questions I had, and that made me feel really good.
I was pleased with the whole process. The only thing that was so weird was HomeDirect wanted me to pay off the company that I was paying off instead of just paying them. HomeDirect sent me a check to send to the company, and what a hassle that was. Why can't they just electronically fund them themselves? There were five or six checks and four of them went through right away, and then one of the companies, Service Financial, sold the loan to Capital One. I told HomeDirect, “They just sent me a thing saying that it’s not Service Financial anymore.” They told me that I needed to do this or that and still send it to them. Eventually, they sent it to Capital One and paid it. But with the HSBC one, I'm still having it worked out. HSBC said that it was sent to someone else and that they were made out to that company. But I had to mail it into the company with the monthly statements. So, I don’t know what to do with that.
I’ve emailed the lady I worked with through HomeDirect and she said, “That’s something that we can’t deal with. That has to be through them." They said it was the title company’s requirements. But it's just so weird. I have to send one check to a company I know doesn’t have the loan anymore. And then, I’m still waiting on one which they said went to someone else, and they sent it back to them. This happened a couple of weeks ago, and they emailed me and said, “We’ll mail it out to you Monday.” If don't have it, then I still can't send it to these people. It makes no sense in adding an extra step.
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I have been leasing an apartment for about 10 years and we thought it was time for us to make a move. I had spoken to other lenders and HomeDirect Mortgage was one of the lenders that Credit Karma had on their list, so I figured they must be legitimate. When we started talking to HomeDirect, they gave me several options. One of them was a low downpayment, what I was looking for. It took me several months just collecting the information they needed. Actually, collecting the information, the check stubs and the bank statements and my tax returns was not that difficult. So all of that was fairly quickly except going through the process of getting to the next step and getting the underwriters to look at it and asking for more information.
I had some student loans that I was paying off and I was in a program that gave me a reduced loan. And so, I had to go through the troubles of getting a restatement from them, because the way I was going the route, the decrease payment plan was not going to complete paying off the loan in the amount of time that they had told me. I guess they were looking at the worst case scenario--if I did not complete or did not go through the program, my payment would double, and they just wanted to make sure that if it did double, then I would still be able to afford the house.
The lender that I was working with was very helpful. She gave me specific directions on how to go about making things work for me, so I was very pleased and I felt very comfortable. They gave me the lowest rate they could, which is 3.25. I looked at several other local agencies or bankers and they basically told me they couldn't give me that and to stay with HomeDirect who would give me the better rate than they could. We are happy that we did it with HomeDirect. It has made a difference. We have recommended some of our friends to them.
I am a HomeDirect Mortgage employee so I knew that I was at about 80% LTV and I could get rid of my MI. And based on the type of loan that I had where it was borrower-paid MI through premium pricing at the rate, I wanted to lower my rate because my rate went down by a full percentage. I've been monitoring rates for a few years. I went with their conventional conforming, a 30-year fixed program. As a customer, it only felt cumbersome to me because I knew the process and there was a level of expectation that I don't think the general consumer has. But I thought that specific to the communication by my loan officer was lacking. I felt that could have been improved.
The online application process was okay. Having done origination 15 years ago, I felt like there were some things that were missed, but it wasn't a big deal. And once the application itself was reviewed, somebody, either the originator or his assistant contacted me back and got those data pieces handled. The application and underwriting process was the least explained to me. I had gotten feedback from friends who had done loans with Bank of Oklahoma and people that had sold their homes and knew the buyers were financing through Bank of Oklahoma, and they said, "We were told the loan was approved. And then, two days before closing, we were told it wasn't." They didn't have a loan. The reason why that has bearing on my situation is because I understood better how that could have happened, when specific to my situation, I was told that we had gotten approval, which I guess was just the AUS.
And then, when I thought it should have been going to closing, they were like, "Oh, we need to get your HOA information." They should have known about that from the moment that they had the AUS piece of it because it was defined in the AUS piece. So, the fact that that detail slips through when I thought it should have been going to closing, I think that was a little clunky. And I'm not super excited to know that perhaps if consumers need explanation of that, I don't know that loan officers are adequately explaining it, at least it wasn't, in my situation.
The communication with my loan officer was just fine. But having a different level of understanding of the process and of the system, some of the questions that I was asking weren't normal questions. So, from that perspective, it may have not necessarily turned him off or put him on edge, but I think it was one of those things that he was like, "Okay. Well, sure. We're busy, so closing is gonna be in a month." And I'm like, "No, but we have approval on the second day of the application because I got you everything you needed. So, why aren't we going to closing?"
Details like that were frustrating to me simply because I didn't understand that the volume had increased such that there was a delay, and I think that that could have been set up better at the beginning. Nonetheless, the loan officer was able to answer or I was able to clarify and rephrase so that he could understand what I was asking. The rate was good and I think that the rep met my expectations very well, but there wasn't any above and beyond as far as any type of additional engagement. I love BOK and I think that they're the way to be. Ultimately, we have the customers' financial benefit in mind, and I think that our people operate in that mindset. So, I like it. I would recommend HomeDirect Mortgage.
I was doing a rate search on Zillow. I knew that the mortgage rates have been dropping and I was looking for a mortgage to lower my monthly payments. I went with HomeDirect's 30-year fixed conventional loan. This is the sixth time I've gone through a mortgage process and very similar, but pretty smooth. The closing was on time and I was kept up to date on everything, and I didn’t really have to do too much. It took 25 to 30 days and the online application process was fairly simple.
There's a little bit of miscommunication between who the title company was gonna be though. I was getting communication from two title companies at one point. I accidentally ended up paying one that we ended up not using a $175 fee for document processing. That was a little bit of frustration. I just purchased my home a year ago and I had heard about, like an R8 or something like that, credits. I just had the title insurance paid a year ago. So, I didn’t know if it was gonna be cheaper or not. So, I was kinda hoping to get a final disclosure document for the closing fees and costs. I said I used this title company a year ago, and if I could get a closing credit with them and it was cheaper, I'd like to go ahead and use them. So, I was communicating, but then the loan underwriter said that they weren’t communicating quickly enough, so they switched to one of their preferred title companies. And I wasn’t notified of that switch until after I had already paid a $175 processing fee to the original title company.
But I think it ended up being cheaper in the end for the preferred title company, the Bank of Oklahoma, but I would have picked them from the beginning if I had known that the closing costs and fees would have been cheaper anyways regardless of the credits. They wanted a rushed paper or something from my HOA then the loan underwriter came back and said the reason why they were charging that rush fee was because they sat on my packet for 20 days or something like that and didn’t do anything, and they hadn’t done their work.
I should have never paid the rush fee because that was on them. The experience was great minus that one little hiccup. I wish that that would have been communicated a little bit earlier and more frequently. Once everything was set up and able to set up everything online, do auto pay and e-delivery of my documents, everything has been an easy and smooth process and transition. I have my first payment here, I think, in a week. So, everything good to go.
We refinanced the mortgage that we had with them. The process was fairly automated. The website is very nice where I could upload the documents and respond to the questions. The representative from the specific bank was very helpful. He was very responsive. I would get a response to my email within just a couple of hours. It was a pretty straightforward process. It took about a month from the time that it was locked in to the time that I finally signed all the papers. Overall, I like the ease of getting ahold of these people and having them respond back. Everything went really smoothly.
We took a VA loan from BOK Financial. We were buying a house and we already had them before. Getting the mortgage was pretty simple. I was comfortable with their rep. They told me what documents they needed. Application took 30 minutes, and anytime they needed anything or any updates, they called me and let me know. I got a good rate, too.
I wasn’t having any luck at my credit union. Somebody told me to try a bank and that Bank of Oklahoma was a good place to do that. I applied online and then somebody contacted me. She did my application and got me approved for it. She was in Kansas where she made it kinda difficult. But she was always available and we just did everything over the phone and on email. The process went real well. The only thing that I didn’t like was a lady that was helping me with all this said it was the FDA that required so much information. But other than that, it was fine to me. My interest rate is really good.
BOK Financial reached out to me to find out if I wanted to refinance because it was an opportunity to get rid of my PMI and lower my mortgage payment. Their rep, Michelle, was great. She was extremely helpful and responsive. She walked me through the process. I also had an issue with the notary. It was supposed to be a situation where they would come to my home but the person called me and spent a great deal of time talking to me about how allergic they are to pets, and I'd have to confine my dogs. Then he didn’t wanna come to my house because even the fact there had been dogs here would be a problem. I told him that it was his job to go to people's homes. It was getting dramatic.
We made arrangements to meet at a nearby Starbucks. The guy went to the wrong Starbucks and they got salty with me on the phone because he was in the wrong place. I provided them the feedback because, at that point, it was like a comic relief in that respect, but Michelle definitely took steps to make sure it was resolved. I wasn't looking for financial compensations but she said that it was just ridiculous and we couldn't have that. They refunded a portion of the cost.
There was a pretty significant difference between the initial conversations we had, the estimate of what the closing cost would be, and what they actually ended up being. It was something that really struck me when I got the final paperwork. But at that point, I was so far down the road and I still went forward with it. Michelle was able to explain to me why that was the case. She was willing to talk to me through the concerns I had.
I had a refi with BOK. The overall experience with them was good. Their rate is lower than the big banks and they can match the bigger banks’ offer. The process took around 21 days from the time I contacted their rep to closing. The website was really good. When the rep updated, I got an email saying something’s updated so I don't have to call him to see the status.
BOK Financial Mortgage author review by Michele Lerner
This direct lender is a division of Bank of Oklahoma Financial. It uses the latest technology like an online automated application system to help clients get the money and information they need as efficiently as possible.
Online application: The online application makes applying for a mortgage easy. With a bit of information, you can submit an application, and a loan officer will contact you directly.
Mortgage calculators: There are several online calculators free to use. If you have questions about your principle, taxes, APR, refinancing and more, these calculators can help.
VA loans: This company helps veterans apply for VA loans with specialists trained to make sure you get the service you need.
Mortgage basics resources: You can access numerous resources that include breakdowns of mortgage terms and costs as well as some FAQs on the website.
Part of BOKF: This lender subsidiary of the Bank of Oklahoma Financial. This means that they are backed by a multibillion dollar financial company, ensuring your finances are in capable hands.
BOK Financial Mortgage Company Information
- Company Name:
- BOK Financial Mortgage
- 11880 College Blvd. #320
- Overland Park
- Postal Code:
- United States