~~~Oakwood Financial is currently closing loans throughout the state of Texas as we are licensed statewide - no out of state loan request at this time please~~~
Not big on applying online? No problem, Click here to fill out our interactive application, then print and simply fax the or email the document directly to Oakwood Financial Corp Fax # (512) 257-7569.
Last Updated on Friday, 16 July 2010 19:47
Newsflash
FHA 203k Rehab Loan
Simple: one loan, one close, one monthly payment.
203k Streamline or Standard ….. Purchase or Refi
Lower your Rate and Include the Cost of Repairs!
No equity; no problem!
Easy to qualify – FHA underwriting guidelines apply.
Repairs include cosmetic to complex home expansion.
Luxury items not eligible i.e. building of a swimming pool.
Funds held in escrow at closing: rehab done after closing.
Oakwood Financial Corp. Guidelines
Minimum decision credit score 660.
Rent/mortgage history 0x30 in last 12 mos (private VOR acceptable).
DTI 45% / 49% no reserves.
Tradelines: 2 open and active for 12 months with substance.
Loans manually underwritten.
DU approval is a favorable compensating factor.
Excellent Program for 1st Time Home Buyers
Gift funds eligible; no local government DPA.
Non-occupant co-borrowers allowed.
Rent free living with parents acceptable.
Excellent Product for Real Estate Owned or Foreclosed Properties
