We know you’re excited to get into your new home and that’s why we want to help get you there as stress-free as possible! Oak Bank’s knowledgeable specialists are here to:
- Help you save money when interest rates drop.
- Refinance your mortgage to consolidate debt and lower your monthly payments.
- Navigate the refinancing process with you to get the best rate and terms for your existing mortgage.
Our friendly specialists are close by to simplify the mortgage process for you or if you are ready, apply now.
Home Equity Term Loans or Lines of Credit are both great options when you want to cover life’s major expenses like updating your kitchen appliances, paying for a college education or taking a family trip. These services include possible tax savings and no annual fees or points so you get the most out of your banking experience.
Home Equity Term Loans allow you to borrow money at a fixed rate when you know exactly how much you need. Oak Bank features automatic loan payments to be set up at your convenience for your Home Equity Term Loans.
Home Equity Lines of Credit can also be a good option for consolidating debt, paying off high-interest or unexpected bills or financing home improvements. You will only pay interest on the amount borrowed and have the opportunity to repay your borrowed funds at your convenience to eliminate one deadline out of your exciting, yet busy, schedule.
If you’re looking to build the home of your dreams from the ground up, we are here to aid you in the process of financing the construction. Oak Bank Lot and Construction Loans provide short-term financing during the construction process and long-term financing once you’re settled in.
Our Lot and Construction Loans offer special benefits to those looking to build their own home, including:
- No Private Mortgage Insurance (PMI).
- Interest payments during construction only apply to the amount drawn.
- The option to lock your loan rate on a variety of balloon mortgages during construction.
- The ability to easily convert to a permanent mortgage when construction is complete.
Vacation Property Loans
We also offer vacation home loans if you’re looking to purchase a second home away from home. Our mortgage lending specialists can help you decide which of our vacation home loans will work best for your lifestyle. You can:
- Purchase your second home with a new fixed rate or balloon 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.
Coronavirus & Your Mortgage
Because of the Coronavirus, many people are facing financial challenges, especially paying their mortgage. If you’re unable to make your mortgage payments, you could lose your home to foreclosure. Federal lenders and some private lenders are offering borrowers temporary help, like stopping or delaying foreclosure or modifying the mortgage. Visit our Coronavirus & Your Mortgage page to learn more about what you can do.
Oak Bank is here to help. For any Home Lending Loan questions or concerns, feel free to contact our Mortgage Lending Specialist.