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Midwestern Oklahoma Development
Authority will finance, with pre-approved credit. Simply ask
for a credit application, fill it out completely and return it to
the MODA Administrative office. Your application for financing
will then be processed and sent to the Credit Bureau for a complete
file report. Once the application has been approved, MODA and
the interested party will set up an appointment and discuss the
amount to be financed, the number of years financing, and the
payment amount. The amount of years will depend mainly on how
much is to be financed. The interest rate presently is ten
percent ( 10 %), with a down payment of ten percent (10%) of the
purchase price. Buyer pays partial closing cost, at present,
this amount is approximately $1100. Buyer is expected to put
$500.00 down on closing costs. Policy is issued to Buyer,
approximately three (3) weeks after signing Mortgage.
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