The Last Refinance Boom is upon us PDF Print E-mail
Written by Rb   
Thursday, 15 July 2010 00:00

Troubled stock markets continue to do wonders for the bond markets, which in turn is providing for some of the lowest home interest rates we've ever seen. Currently homeowners are rushing to lock in their rates on today's lower fixed rates, and with good reason. Why do this? Great question, refinancing your home is an ingenious way to lower one of the largest liabilities the average household may have... "The mortgage payment". To date we have refinanced thousands of  indiviuals and in some instances have saved homeowners up to $300/month. Of course the savings are going to be different for each home owner and contingent upon your given set of circumstances, but we are more than happy to help you crunch the numbers. As a rule of thumb, refinancing your home makes since if you can reduce your interst rate at least 1.5% or > . An added benefit to refinancing is that you can lower your term simultaneously while capturing a lower rate such as a 20 year, 15 year, or 10 year term. And remember for those whom currently hold FHA notes, we can still coordinate an FHA streamline refinance, significantly reducing needed paperwork to coordinate your loan. Also, at current time we are still coordinating Texas Home Equity Cash Outs. Your options are limitless with Oakwood Financial Corp and we guarantee to beat our competitors closing cost and/or interest rate. Contact us today for a free no hassle consultation. Trust us, it will be worth your time and efforts. A 7 minute call could you save you $1000's over the life of the loan. But i urge you, hurry... interest rates are on the precipice of rising here soon.

 

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Last Updated on Thursday, 15 July 2010 22:59
 

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

 

Email Me today with questions

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