Dewey County, Oklahoma
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Dewey Real Estate Market Update
The real estate market in Dewey County, Oklahoma, is currently experiencing a decline in home prices. As of October 2024, the median listing home price was $124,500, which represents a decrease of 23.1% from the previous year. The median price per square foot is $75, and homes are selling for a median price of $83,000, indicating a buyer's market where homes are selling below the asking price.
Dewey County comprises several small towns, with Seiling, Vici, Taloga, and Leedey being among the most notable. Seiling is the largest town, offering a small-town atmosphere with a population of around 860 residents. Vici and Taloga are smaller, with populations of approximately 700 and 300, respectively, while Leedey has about 400 residents. These towns provide a close-knit community feel, typical of rural Oklahoma.
Living in Dewey County is characterized by a predominantly rural lifestyle, with agriculture being a significant part of the local economy. The county's landscape is dotted with farms and ranches, offering a peaceful, countryside living experience. The top industries include agriculture and energy, which attract individuals looking for a quieter, more affordable lifestyle. Migration patterns suggest that people move to Dewey County for its lower cost of living and the opportunity to engage in agricultural activities or work in the energy sector.
2025 Mortgage Loan Limits:
Dewey County, Oklahoma
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Dewey County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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