Find the Loan for Your Dream Home
Think about the home buying process. You spend a lot of time looking online, touring homes in person, and attending open houses to make sure you find the perfect home for you and your family. With such a big decision, you should spend as much time finding the right lender to work with.
At Oak Bank, our home lending expert is dedicated to working with you to get you the right loan that will put you in your dream home. You can start your online application today by visiting the Oak Bank Mortgage Center.
Traditional Home Loan Offerings
Whether you are looking to purchase a home or refinance your existing home, there are options available to you at Oak Bank.
Loan Type | Loan Details |
|---|---|
Fixed-Rate Mortgage | This is a great option for homeowners who intend to stay in their homes for a long time. Your interest rate will stay the same for the entire term of the loan, which means you can budget around the same payment amount each month. |
Adjustable-Rate Mortgage | This is a better option for homeowners who will live in their homes for a shorter period of time, usually less than 10 years. This loan includes a fixed rate for an initial period of time and then is subject to adjustment throughout the remaining term of the loan. |
Mortgage Refinance | This loan is an option for current homeowners who want to reduce their interest rate on their loan. This can help reduce your monthly payment or the amount of interest you’ll pay on your loan. |
Construction Loans
If you have a very specific set of “must-haves” for your home that you’re not finding on the housing market, it may be a good idea to build your home the way you want. Oak Bank offers construction loans to purchase a lot and pay for the construction costs of your new home. We then work with you for the long-term financing of your home. Benefits to construction loans include:
- No Private Mortgage Insurance (PMI)
- Interest payments during construction only apply to the amount drawn
- The ability to easily convert to a permanent mortgage when construction is complete
Vacation Property Loans
Our mortgage options are available to homeowners looking to purchase a second home to serve as their vacation home. The most important thing to remember when taking on a second mortgage at Oak Bank is that you have multiple options. Your loan options include:
- Purchase your second home with a new fixed-rate or adjustable-rate mortgage
- Use your existing equity for a down payment with our home equity loans
- Refinance your current mortgage and consolidate the two homes into one mortgage, and one payment
Home Loan Resources
Here at Oak Bank, we are as excited as you are about your new home! We want to guide you through every step of the process from start to finish. Since all of our decisions are made locally, we can help you and your family get your loan approved quickly, which is crucial in a competitive market. Soon you will get to experience the thrill of turning the key to your future home.
To accommodate your busy schedule, we offer extensive online resources including mortgage calculators, a glossary of mortgage terms and Rate Watch, however don’t hesitate to stop in and talk with us in person if you have questions or concerns. We’re happy to help!
Mortgage Resources
- Conforming Loan Payments Notice.pdf
- Your Home Loan Toolkit – A Step-by-Step Guide.pdf
- CFPB Consumer Handbook On Adjustable-Rate Mortgages.pdf
- Oak Bank's Home Buying Process
Questions?
That's what we're here for.
Dan Severson
Vice President - Mortgage Banking
Phone: (608) 250-5509
NMLS: 45442
