By Conrad Dudderar
Yukon’s First American Mortgage is somewhat of a rarity in the mortgage industry these days.
“There’s not many companies like mine left today around,” President Dale Bogle said. “We’re one of the only mortgage brokers left that are a non-bank entity out in our area.
“Over the last 22 years, we’ve provided over $3 billion in fundings and helped about 18,000 families into their homes.”
First American Mortgage is situated at the corner of Yukon Parkway and Ranchwood in the Legacy Lakes Addition, just north of Yukon High School.
Bogle built the impressive 9,000-square-foot office, which has housed his business for the past eight years.
The Yukon mortgage company has a 15-member staff – with eight loan officers – most of whom have been with Bogle for many years.
“We stand by our reputation,” he emphasized. “We’ve been out here a long time and plan to be here many more years.”
Realtors and builders prefer a local lender pre-approval letter. First American Mortgage has a reputation of providing local service to ensure the loan closes on time.
“Being a local lender, we typically can deliver the product to our client with a lower rate and fees than our competitors,” Bogle noted.
First American Mortgage prides itself on being a Yukon-owned hometown business.
“You are our customer; you’re not a number,” Bogle said. “You’re going to get the same person on the phone every time you call. You’re going to get a response when you call.
“We’re a delegated lender, so we do in-house underwriting, in-house processing and in-house closing. Everything is done here from this location. We don’t rely on any outsourcing at all, which makes a strenuous process a little easier.”
First American Mortgage offers all secondary market mortgage products – conventional, Fannie/Freddie, Federal Housing Administration (FHA), Veterans Administration (VA), Native American 184, and United States Department of Agriculture (USDA) loans.
“When we have our pre-approval consultation with the buyer, we determine which loan product is available to them,” Bogle explained. “Depending on their money and their credit, we’ll style that product to the individual the best we can.”
The company also has down payment assistance programs.
INVESTED IN YUKON
Bogle is a Western Heights graduate who earned a degree from Central State University in Edmond. He started in the mortgage industry in 1987.
Dale and his wife Tracy have lived in Yukon since 2000 and their four children Riley, Channing, Brit, and Bryce have all attended Yukon Schools.
“Yukon is a tight-knit community, and it still has the ‘old-town’ feel,” Bogle said. “This community is important to us, and our family and businesses are invested in the community.”
In 1993, First American Mortgage was established in south Oklahoma City.
Bogle bought the company in July 2000, moving it to Yukon in leased space inside the McClure Building at 401 W Vandament.
He went on to purchase a building at 1029 E Vandament, which First American Mortgage occupied for 15 years.
When the business outgrew that space, Bogle started looking for land to construct a larger building. He decided on vacant property at the prominent corner of Ranchwood and Yukon Parkway.
First American Mortgage’s president thinks it will be interesting to watch changes in the housing market in coming months.
Home prices and values shot up some 20% for the past two years, interest rates have doubled this year and inflation is about 9%.
“We were so low on inventory for so long, and that drove up prices,” Bogle said.
“We’re starting to see some decrease in the sales price and we’re starting to see some seller contributions again. We’re starting to see a market reversal. I don’t know where we’ll land at, and hopefully rates won’t go much higher.”
Besides owning his company, Bogle also is one of its experienced loan officers.
“I like the interaction with customers and being able to help people with one of the biggest – and most stressful – purchases of their life,” he said. “We try to make that process as easy as we can.”
For a free mortgage consultation and pre-approval, go to FAMINC.BIZ and click “Get Started”. One of First American’s mortgage professionals will be in contact ASAP.
For more information, visit First American Mortgage at 1501 S Ranchwood Blvd. in Yukon or call (405) 354-0426.