ENID, Okla. — Garfield County is ranked among the top places in Oklahoma to get a mortgage, according to a recent study.
SmartAsset, a personal finance company, “compared the likelihood of mortgage approval by county in addition to mortgage rates, average five-year borrowing costs, and property taxes” to compile the study, according to an email. Garfield County ranked ninth in the state according to these measures.
According to the study, Garfield County has a 66.62% loan funding rate and $82,551 for 5-year borrowing costs. The county also averages $10,696 in property taxes, $15,872 in annual mortgage payments and has a Best Mortgage Markets Index score of 75.66.
Oklahoma overall averages 56.07% for loan funding rates, $82,551 for 5-year borrowing costs, $8,575 in property taxes and $15,872 in annual mortgage payments, according to the study.
To obtain these rankings, SmartAsset ranked locations based on overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments, according to the study. The company then averaged the rankings together with equal weight to each factor.
RE/MAX real estate agent Gary Young said although he could not speak to other areas in Oklahoma, he knows Enid has great mortgage companies like Prime Lending and Financial Concepts that they do “tremendous business with.”
Young said. “We’re blessed in Enid, Okla., we really are blessed with some great mortgage companies.”