Jackson 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
Jackson Real Estate Market Update
In October 2024, the real estate market in Jackson County, Oklahoma, showed a median listing home price of $215,000, reflecting a significant increase of 34.4% from the previous year. The median price per square foot was $116, and homes sold for a median price of $211,000. The market is currently a buyer's market, with homes typically selling after 58 days on the market.
The top cities in Jackson County include Altus, Blair, and Duke. Altus, the largest city, has a median listing home price of $217,300 and offers 124 homes for sale. Blair, known for its large lots and above-average schools, has a median home price of $340,000. Duke is smaller, with seven homes for sale and one rental available.
Jackson County offers a mix of rural and suburban living, with agriculture playing a significant role in the local economy. The county's landscape supports farming and ranching, contributing to its rural charm. Suburban life is centered around Altus, which provides amenities and services typical of a small city. The presence of Altus Air Force Base also influences migration patterns, attracting military personnel and their families to the area.
2025 Mortgage Loan Limits:
Jackson 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
Jackson 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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