Raelene Reagor
Loan Officer
NMLS#
619762
Branch Address
12028 S.Norwood Ave., Suite 300 Tulsa, OK 74137
Phone
Cell: 918-978-5300
Social
Raelene Reagor is no stranger to consumer lending. In fact, it is the only industry she has ever worked in. Almost 20 years ago she started in the banking industry, first as a teller, then supervisor and finally spending most of her career as an underwriter on home and auto loans. Seeing that side of the loan process gave her in-depth insight as to what affects a credit score and what impacts a borrower’s ability to qualify for a loan. When she left the banking industry to focus solely on originating mortgage loans, she found she has been able to provide guidance and strategies for first-time homebuyers and those with less than perfect credit.
Although Raelene is familiar with all types of loan programs, her 17 years at Tinker Federal Credit Union near Tinker Air Force Base in Oklahoma, gave her years of experience in military-centric lending. She understands the unique needs of Veterans and has extensive knowledge of VA loans.
As a down to earth, genuine person who likes to provide guidance and education to her clients, Raelene can pull from her experience as an underwriter to see the bigger financial picture. If you are new to homebuying and have little saved for a down payment, perhaps an FHA loan is right for you. If you are ready to go rural, Raelene can help you with your USDA Rural Development (RD) loan. Whatever your specific financial situation is, Raelene will take the time to really get to know you and help you achieve your homeownership goals.
Although she can work with any borrower across the state of Oklahoma, the bulk of Raelene’s business is in Green Country and the mid-west city area of Oklahoma. Raelene loves her community, and you can often find her at a local football game or the rodeo. In fact, Raelene’s husband is a member of the American Cowboy Rodeo Association (ACRA), and both their children are rodeo athletes who compete in calf roping at the local junior rodeos.
With extensive knowledge in consumer lending, and being deeply rooted in her local community, Raelene is a great resource for anyone looking to buy, refinance, renovate or build a home in the greater Tulsa area. Raelene believes there is nothing more satisfying then being able to help a client who did not see a path to homeownership finally gets those coveted keys in hand!
If you are ready to start your homeownership journey, contact Raelene Reagor!
I am committed to being in your corner and promise to empower you with all the information needed to choose the right loan for you
Mortgage Programs Explained
There is no one-size-fits-all when it comes to mortgage lending. MiMutual has numerous loan options to fit every budget and situation. At MiMutual Mortgage, you can expect a one-on-one consultation to determine the right loan program for your unique situation.
A Conventional loan is a mortgage not guaranteed by the government. However, most conventional loans will follow the guidelines established by Fannie Mae (FNMA) and Freddie Mac (FHLMC). This type of loan is good for borrowers with a favorable credit score and allows more flexibility in loan terms and higher loan limits.
Unlike FHA, VA or RD loans, conventional loans do not require private mortgage insurance (PMI) unless the borrower has less than 20% down. 20% down however, is not a requirement and some conventional loans allow as little as 3% down! Once the loan reaches 20% equity, PMI can be canceled.
In addition to standard conventional loan programs, MiMutual Mortgage also offers the following niche conventional loan programs:
- Fannie Mae HomeReady
- Freddie Mac Home Possible
- Freddie Mac HomeOne
- Freddie Mac Refi Possible
Government loans are backed by the federal government. The loan is funded or originated by the mortgage company, but has a guarantee from either the Federal Housing Administration (FHA), USDA Rural Development (RD), or US Dept of Veterans Affairs (VA).
Government loans open the door for borrowers that have little to no money saved for a down payment, a challenging credit history or have lower credit scores. Government loans offer easier qualifying requirements and are widely used in the industry.
Government-insured loans can be used for purchase, renovation (through the FHA 203(k) loan), or refinance transactions.
Government loan programs include:
- Federal Housing Administration (FHA)
- USDA Rural Development (RD)
- Veterans Affairs (VA)
The Federal Housing Finance Agency (FHFA) sets a limit on the dollar amount a conventional loan must conform to. Any loans beyond this limit are known as a Jumbo loan. With a Jumbo Loan from MiMutual, you can expand your options and find your dream home that will meet your needs now and in the future.
MiMutual Mortgage offers a number of Jumbo Mortgage Programs to fit a variety of situations. These include Purchase loans, Asset-Qualifier, Rate and Term and Cash-Out Refinance loans.
Highlights include:
- As little as 10% down
- Loan amounts up to $4 Million
- Primary residence, second homes, and investment properties are eligible
Don’t have much saved for a down payment?
We can help with that!
Down Payment Assistance (DPA) can:
- Reduce out of packet cash to close
- Put cash savings to work by improving the home and growing equity
- Free up cash to pay down student loan debt or other bills
- Save cash to start investing for the future
MiMutual Mortgage offers a number of down payment assistance programs including:
- Chenoa Fund DPA for FHA financing
- The National DPA for Conventional financing
- State Housing Finance Authority DPA and MCC
MiMutual Mortgage is a Renovation Loan specialist. We were even featured on the Lifetime Network “Designing Spaces” home design television show! With a Renovation loan, you can bundle the cost of purchasing or refinancing with the cost of renovation into one single loan!
MiMutual Mortgage offers the FHA 203k and Conventional HomeStyle renovation loans. These allow for the same qualifying factors as a traditional FHA or Conventional loan with the ability to lend up to the estimated after-improved value of the home!
Eligible renovations include:
- Small repairs with a minimum renovation cost of $5,000
- Kitchen remodels including appliances
- New roof
- Additions
- New flooring
- Instillation of an in-ground pool
Still not finding what you are looking for?
MiMutual Mortgage has a number of unique loan programs including:
- Qualifying on assets without income
- Real Estate Investor programs including DSCR
- Self-Employed financing options
- Bank statement qualifying
Start Your Mortgage Journey
You are about to begin the mortgage loan application
- Applying on the MiMutual Mortgage Online Loan Application is quick, easy, and secure! The loan application will take about 25 minutes to complete.
- Once your application is submitted, you can log back into the MiMutual Mortgage Online Loan Application to securely upload requested documents, view your loan status, and communicate with your mortgage team.
- If you have questions, reach out to your MiMutual Mortgage Loan Officer.
Your guided mortgage journey starts here!
Start Application