Financing a New Home: What You Should Know

Our team here at Homes by Taber ® understands that buying a new home is one of the most exciting and financially significant decisions you’ll ever make. As Oklahoma’s Favorite Builder ®, it’s our mission to make that process as smooth, transparent, and empowering as possible. That includes helping you understand your financing options so you can make confident decisions every step of the way.

We’ve built thousands of new homes in Oklahoma City, Edmond, Moore, Norman, Yukon and other desirable OKC metro areas, and we've guided just as many families through the financing journey. Whether you're a first-time buyer or a seasoned homeowner looking to upsize, we’re here to share what we’ve learned so you can move forward with clarity.

The Basics: What Is Home Financing?

Unless you’re purchasing a home with cash, you’ll need a mortgage, a loan from a lender that helps you finance the purchase of your home. It sounds straightforward, but there are many types of loans and countless lenders offering different rates, terms, and benefits.

The good news? You don’t have to figure it out alone. At Homes by Taber, we’ve established trusted relationships with local and national lenders who specialize in new construction financing and offer competitive rates. We’ll help connect you with the right professionals and programs to fit your unique financial situation.

Why Financing Is Different with New Construction Homes

Financing a new construction home is a little different than buying a resale home. Depending on your stage in the buying process, you may be purchasing a quick move-in home that’s already built or a to-be-built home that’s still under construction. Your financing timeline, interest rate lock options, and loan terms may vary slightly based on those factors.

Homes by Taber works with lenders experienced in Oklahoma new construction home loans, meaning you’ll get guidance tailored specifically to your home buying journey. 

Understanding Your Loan Options

From first-time homebuyers to seasoned investors, it’s important to have an idea of what type of loan best suits your needs, which is why we’re here to help. Let’s break down the most common types of mortgage loans available to homebuyers in the Oklahoma City metro area: 

• Conventional Loans: These are the most widely used home loans and are ideal for buyers with good credit and stable income. They typically require a down payment of at least 3–5%, and mortgage insurance may be required if you're putting down less than 20%. Many of our buyers in OKC choose this route thanks to competitive interest rates and straightforward terms.
• FHA Loans: Backed by the Federal Housing Administration, FHA loans are designed to make homeownership more accessible. They’re a popular option for first-time buyers or those with lower credit scores and smaller down payments. FHA loans are especially helpful if you’re just starting out and ready to build equity in one of our energy-efficient Taber homes.
• VA Loans: If you’re an active-duty service member, veteran, or eligible spouse, you may qualify for a VA loan, an excellent financing option with no down payment and no mortgage insurance requirement. Homes by Taber is proud to serve Oklahoma’s military families, and we regularly work with buyers using VA loans throughout the OKC metro area.
• USDA Loans: For buyers looking outside of the metro in more rural areas, USDA loans may offer 100% financing with no down payment required. Some of our new home communities near the edges of the OKC metro may qualify. Ask us if this applies to the neighborhood you’re interested in. We’re happy to help you explore your options.

Unique Financing Programs to Consider

In today’s market, flexibility is key. Fortunately, there are a variety of financing solutions designed to meet a wide range of needs:

• Down Payment Assistance Programs: Don’t let a down payment hold you back. Several Oklahoma-based programs like the Oklahoma Housing Finance Agency (OHFA), NHS Oklahoma, and REI Down Payment Assistance offer grants and forgivable loans to help qualified buyers cover their down payment and closing costs. If you’re eligible, this could significantly reduce your upfront costs when purchasing a new home in OKC. Our preferred lenders are familiar with these programs and can help determine your eligibility. We can also help you find the resources and workshops needed to get started.
• Loans That Cover Closing Costs: Some lenders offer options where they cover a portion (or all) of your closing costs in exchange for a slightly higher interest rate. These solutions can be beneficial for buyers who want to minimize out-of-pocket expenses. In addition, when you work with Homes by Taber’s preferred lenders, you may qualify for exclusive lender credits that help offset closing costs without affecting your rate.
• Adjustable-Rate Mortgages (ARMs): ARMs can be a smart option for buyers who plan to live in their home for a shorter period. These loans often start with a lower fixed rate for the first few years, which can help lower your monthly payments during that initial term. This may be especially beneficial for buyers who plan to refinance or relocate within five to seven years.

What If My Credit Needs Work?

If your credit score isn’t where you want it to be, don’t worry — it doesn’t mean you’re out of the game. Many lenders offer credit counseling services or credit simulation tools to help you understand what steps to take to improve your score and qualify for better loan terms.

And remember: not all lenders view credit the same way. Some programs (like FHA or certain down payment assistance options) are designed for buyers with less-than-perfect credit. We’ll help match you with a lender who sees your potential and offers personalized solutions.

Trust the Local Experts

At Homes by Taber, we build more than just new homes in OKC, we build relationships. We know Oklahoma’s mortgage landscape inside and out, and our experienced team is here to guide you through every step of financing your new home in the OKC metro area. From your first pre-approval to the moment you close, we’re right there with you.

We also make sure you understand what you're signing — not just today, but for years to come. That includes helping you “marry the home and date the rate” — a common strategy in today’s market that encourages buyers to lock in their dream home and refinance later if rates drop. Why wait to own when the right home and the right builder are ready now?

Let’s Get You Home

Financing may seem intimidating, but it doesn’t have to be. With Homes by Taber, you gain more than a home builder, you gain a knowledgeable, trusted partner who’s ready to make your path to homeownership as simple and stress-free as possible.

If you’re ready to start your journey toward a new home in Oklahoma City, Edmond, Moore, Mustang, Norman, Yukon, Piedmont, Choctaw, Cashion, or Guthrie, reach out to our team today. We’ll connect you with preferred lenders, help you explore financial programs, and walk you through the entire process with the care and transparency you deserve.

When you choose Homes by Taber, you’re choosing an OKC home builder who believes in better homes, better value, and better service. Explore our new home communities in OKC today and contact us at (405) 984-1185. You can also fill out the online form to learn more about new homes in Oklahoma City and start living the Proudly Overbuilt life.