The Best Mortgage Lenders in Oakwood, TX
Compare verified mortgage lenders serving Oakwood, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Oakwood
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service, competitive rates, and extensive experience serving rural Texas communities like Oakwood. With over 27 years in business, they offer a wide range of loan products, including USDA loans ideal for rural properties, and have a strong local presence through their College Station branch. Their high ratings and numerous positive reviews highlight their reliability and commitment to client satisfaction.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its efficient processing, personalized service, and community-focused approach. Serving the Oakwood area from their Tyler branch, they provide various loan options, including renovation loans that benefit older homes common in rural settings. With 15 years of experience and a reputation for transparency and speed, they have built strong customer loyalty and consistently high ratings for their responsive support and competitive terms.
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New American Funding
New American Funding, LLC
New American Funding stands out for its diverse loan portfolio and commitment to inclusive lending, including programs for first-time homebuyers and minority communities. With two decades of experience, they serve Oakwood and surrounding areas through their Austin office, offering specialized products like USDA loans for rural homes. Their strong customer satisfaction scores, backed by hundreds of reviews, reflect their dedication to providing flexible solutions and expert guidance throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Oakwood, TX
Are there any special mortgage considerations for buying a home on a larger lot in Oakwood, TX?
Yes, many properties in Oakwood are on acreage, which can affect financing. Lenders may require a specialized "rural" or "non-warrantable" appraisal to assess the land value correctly. It's important to work with a lender experienced in rural properties to ensure the loan product and underwriting account for the higher land-to-improvement ratio common in the area.
What are typical down payment assistance programs available for first-time homebuyers in Oakwood?
Oakwood homebuyers can access statewide Texas programs like the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Rural Development loan is a popular $0-down option for eligible borrowers, as much of the Oakwood area qualifies for this federally-backed program.
How do property taxes in Leon County impact my mortgage payment in Oakwood?
Leon County property taxes are a significant component of your monthly mortgage escrow payment. While rates can vary, they are generally competitive within the region. Your lender will calculate an estimated monthly tax portion based on the county's assessed value, and it's wise to budget for potential increases as property values in the area continue to rise.
Is homeowner's insurance more expensive for mortgages in Oakwood due to its rural location?
Insurance can be higher than in urban areas due to factors like distance from fire hydrants and fire stations, which affects the Fire Protection Class (FPC) rating. This may lead to slightly higher premiums, which your lender will include in your monthly escrow payment. Shopping for insurers familiar with rural Texas properties is recommended to find the best rate.
Are there local lenders in Oakwood who understand the unique market, or should I use a national bank?
While Oakwood itself has limited brick-and-mortar lenders, many regional credit unions and community banks in nearby cities like Palestine or Centerville have deep experience with the local real estate market. These local institutions often provide more personalized service and understanding of area-specific appraisal challenges than large national banks, which can streamline the mortgage process.
Nearby Cities
Explore mortgage lenders in cities near Oakwood, TX
Why Choose a Mortgage Lender in Oakwood?
Local Market Knowledge
Lenders who understand Oakwood's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Texas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Oakwood and get competitive rates on your home loan.