Skip to content
Bank of Albuquerque Powered by BOK Financial logo


Home Loans to Fit Your Needs

Whether you are buying your first home, next home or even vacation home – we’re here to help you make the dream of home ownership a reality.

Family sitting on couch in new home

Manage Your Mortgage from Anywhere

Whether at home or on-the-go, it is easier than ever to manage your mortgage, make payments and get detailed account information right at your fingertips. You can also see details on how you can pay off your mortgage faster, your home's estimated current value and access to unique educational content created by our mortgage experts.

BOK online access lets customers quickly review their monthly mortgage statements and more.

Mortgages to Fit Your Needs

  • Build your new home
    When financing your new construction home with us, you may be eligible for a credit toward closing costs.
  • Conventional Home Loan
    If you are looking for a traditional home loan with options for a low down payment then our conventional home loans could be for you.
  • FHA Loan
    First time homebuyer? Not-so-perfect credit? Large down payment not an option? An FHA Home Loan might be for you.
  • Jumbo Home Loan
    If you're looking to finance a larger real estate loan, the Jumbo Home Loan program offers flexible loans up to $3 million.
  • The Lock and Build Program

    If you're looking to build your dream home from scratch, the Lock and Build Loan Program might be your best option.

  • Military Home Loan (VA)
    If you're active in or retired from the military, or if you're the spouse of someone in the military, you may qualify for this loan program.
  • Native American Home Loan

    If you're a member of a federally recognized Native American tribe, this might be the right loan program for you.

  • USDA Rural Home Loan

    If you live in a rural area and need financing assistance to purchase a home this government backed program may be right for you.

Financing Your Dream Home

The mortgage process can be confusing and intimidating. Let us show you how the process works and get you on your way to the home of your dreams.

Frequently asked questions


You can simply apply online. The application will ask questions about the house you are planning to buy and your finances. It takes less than 20 minutes to complete. If you are pre-qualified, you are able to move forward with gathering additional documentation and completing the application process. Once you have spoken to your mortgage banker and provided your intent to proceed, we’ll ask you for a deposit to cover the cost of the appraisal on your home so we can begin to process your request immediately.

After your application is completed, a mortgage banker will contact you to answers any questions you may have. Your mortgage banker will provide help and guidance throughout the loan process.

Interest rates fluctuate based on a variety of factors, including inflation, the pace of economic growth and Federal Reserve policy. Over time, inflation has the largest influence on the level of interest rates. A modest rate of inflation will almost always lead to low interest rates, while concerns about rising inflation normally cause interest rates to increase. Our nation's central bank, the Federal Reserve, implements policies designed to keep inflation and interest rates relatively low and stable.

None of the loan programs we offer have penalties for prepayment. You can pay off your mortgage any time with no additional charges.

Mortgage insurance makes it possible for you to buy a home with less than a 20% down payment by protecting the lender against the additional risk associated with low down payment lending. Low down payment mortgages are becoming more and more popular, and by purchasing mortgage insurance, lenders are comfortable with down payments as low as 3-5% of the home's value. It also provides you with the ability to buy a more expensive home than might be possible if a 20% down payment were required.

The mortgage insurance premium is based on loan to value ratio, type of loan and amount of coverage required by the lender. Usually, the premium is included in your monthly payment and one to two months of the premium is collected as a required advance at closing.

It may be possible to cancel private mortgage insurance at some point, such as when your loan balance is reduced to a certain amount—below 78-80% of the property value. Recent federal legislation requires automatic termination of mortgage insurance for many borrowers when their loan balance has been amortized down to 78% of the original property value and you have a positive payment history the preceding two years. If you have any questions about when your mortgage insurance could be cancelled, please contact your mortgage banker.

The maximum percentage of your home's value depends on the purpose of your loan, how you use the property, and the loan type you choose, so the best way to determine what loan amount we can offer is to complete our online application!

Yes, applying for a mortgage loan before you find a home may be the best thing you could do! If you apply for your mortgage now, we can issue a pre-qualification letter. You can use the pre-qualification letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-qualification for a mortgage may give more weight to any offer to purchase that you make.

When you find the perfect home, you'll simply call your mortgage banker to complete your application. You'll have an opportunity to lock in our great rates and fees then and we'll complete the processing of your request.

Yes, you can really borrow funds to use as your down payment. However, any loans that you take out must be secured by an asset that you own. If you own something of value that you could borrow funds against such as a car or another home, it's a perfectly acceptable source of funds. If you are planning on obtaining a loan, make sure to include the details of this loan in the expenses section of the application.

Gifts are an acceptable source of down payment, if the gift giver is related to you or your co-borrower. We'll ask you for the name, address, and phone number of the gift giver, as well as the donor's relationship to you.

If your loan request is for more than 80% of the purchase price, we'll need to verify that you have at least 5% of the property's value in your own assets.

Prior to closing, we'll verify that the gift funds have been transferred to you by obtaining a copy of your bank receipt or deposit slip to verify that you have deposited the gift funds into your account.

Both a home inspection and an appraisal are designed to protect you against potential issues with your new home. Although they have totally different purposes, it makes the most sense to rely on each to help confirm that you've found the perfect home.

The appraiser will make note of obvious construction problems such as termite damage, dry rot or leaking roofs or basements. Other obvious interior or exterior damage that could affect the value of the property will also be reported.

However, appraisers are not construction experts and won't find or report items that are not obvious. They won't turn on every light switch, run every faucet or inspect the attic or mechanicals. That's where the home inspector comes in. They generally perform a detailed inspection and can educate you about possible concerns or defects with the home.

Accompany the inspector during the home inspection. This is your opportunity to gain knowledge of major systems, appliances and fixtures, learn maintenance schedules and tips, and to ask questions about the condition of the home.

Licensed appraisers who are familiar with home values in your area perform appraisals. We order the appraisal as soon as the application fee is paid. Generally, it takes 10-14 days before the written report is sent to us. We follow up with the appraiser to ensure that it is completed as soon as possible. If you are refinancing, and an interior inspection of the home is necessary, the appraiser should contact you to schedule a viewing appointment. If you don't hear from the appraiser within seven days of the order date, please inform your mortgage banker. If you are purchasing a new home, the appraiser will contact the real estate agent, if you are using one, or the seller to schedule an appointment to view the home. We will promptly give you a copy of any appraisal, even if your loan does not close.