Woods County, Oklahoma
Mortgage Rate Alerts
Never Miss A Refinance
Opportunity
Always on mortgage monitoring without hurting your credit.
Instant email and text alerts.
A Better Mortgage In 3 Easy Steps
Sign up
Provide some basic info, no SSN required
Start getting alerts
For refinance via email and texts
Apply and close
The new loan and start saving money
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
Woods Real Estate Market Update
The real estate market in Woods County, Oklahoma, has seen a stable trend with the median home list price remaining at $170,000 as of October 2024. This price reflects no change from the previous month, with the median price per square foot at $114. The housing market in Woods County is characterized by a limited supply, with only three homes for sale in October 2024, indicating a consistent inventory level over recent months.
Woods County includes several small cities, with Alva being the largest. Alva has a population of approximately 5,000 residents and serves as the county seat. Other notable towns include Waynoka and Freedom, which are much smaller, with populations of around 1,000 and 300, respectively. These towns contribute to the county's rural charm and community-focused lifestyle.
Living in Woods County offers a predominantly rural experience, with agriculture playing a significant role in the local economy. The county's landscape is dotted with farms and ranches, reflecting its agricultural roots. Residents enjoy a quiet, suburban lifestyle with a strong sense of community. The top industries in the area include agriculture, education, and healthcare, with Northwestern Oklahoma State University in Alva being a major employer. People may be drawn to Woods County for its affordable housing, peaceful rural setting, and the opportunity to be part of a close-knit community.
2025 Mortgage Loan Limits:
Woods 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
Woods 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.
Never Miss A Refinance Opportunity
Always on mortgage monitoring. Instant email and text alerts.
