Oklahoma Mortgage Group - Mike David

A condo can offer the right location, maintenance arrangement or price point for a buyer. It also comes with a financing question that does not arise in exactly the same way with every detached home: is the condominium project eligible for the intended loan? Fannie Mae published project-standards updates in Lender Letter LL-2026-03 on March 18, 2026. For Fannie Mae loan applications dated on or after Aug. 3, 2026, the Limited Review process has been retired. Depending on the facts, an established project may need a Full Review or may qualify for a Waiver of Project Review. Fannie Mae also updated policies involving project reserves and financial health. This does not mean every condo purchase will be delayed or denied. It does mean buyers, sellers, Realtors and association contacts can help by starting the documentation conversation early. Here are several items a lender may need to evaluate, depending on the program and transaction: • condominium association budget and reserve informa...

  Two Tulsa neighborhoods are receiving additional support to grow, improve and attract investment without losing the local character that makes them special. The City of Tulsa recently announced that the Pearl District and SoBo have officially joined the Oklahoma Main Street network. The designation gives both districts access to revitalization guidance, technical assistance and resources designed to strengthen neighborhood business corridors. What Is the Oklahoma Main Street Program? The Oklahoma Main Street program helps communities and commercial districts take a thoughtful, long-term approach to revitalization. The focus is not simply on constructing new buildings. It includes supporting local businesses, improving public spaces, preserving neighborhood identity and creating places where people want to live, work, shop and spend time. For Tulsa’s Pearl District and SoBo, the designation could help neighborhood leaders build upon the momentum already happening in both areas. Wh...

Buying a home can feel out of reach when the biggest concern is the down payment. That is why we now have a new tool available on our website that allows buyers and Realtors to check potential eligibility for down payment assistance programs and grant opportunities. This resource is now live and ready to use. A Helpful First Step for Buyers Many buyers assume they need a large down payment to purchase a home. In some cases, there may be assistance programs or grants available that can help reduce the amount needed upfront. This new tool gives buyers a simple way to start exploring possible down payment assistance options before they give up on buying. It can be especially helpful for: First-time homebuyers Buyers with limited savings Clients worried about cash to close Renters who want to become homeowners Realtors working with budget-conscious buyers Check for Additional Grant Opportunities Some buyers may qualify for additional assistance based on their profession, milita...

Fourth of July celebrations are happening across Oklahoma, and many communities are making the holiday a full family experience with fireworks, live music, food vendors, and activities. For homebuyers, these events are also a reminder that choosing a home is about more than the house itself. It is about lifestyle, location, and community. Tulsa FreedomFest Tulsa FreedomFest returns July 4 at River West Festival Park and the Zink Lake Watch Zone. The event is expected to draw around 80,000 spectators and includes BMX stunt shows, live music, food vendors, and a 25-minute fireworks display beginning at 9:30 p.m. For buyers looking in Tulsa, events like this show the value of living near community spaces, parks, trails, and local entertainment. Bixby Freedom Celebration The 12th Annual Bixby Freedom Celebration takes place July 3 from 6 p.m. to 10 p.m. at Bentley Park. This free event includes a Make-A-Wish Oklahoma wish-granting ceremony, military swearing-in ceremony, food truck...

Buying a home is exciting, but adjusting to a new mortgage payment can sometimes feel overwhelming. That's why programs designed to reduce upfront housing costs are getting more attention from both homebuyers and real estate professionals. One option worth understanding is the Smart Start Buydown. How the Smart Start Buydown Works A Smart Start Buydown is a lender-paid 1-0 buydown that temporarily lowers a buyer's effective interest rate by 1% during the first year of the loan. Buyers still qualify using the full note rate, but their monthly payment is calculated using a rate that's 1% lower for the first 12 months. The lender covers the payment difference. Beginning in year two, the payment returns to the full note rate. Why Buyers Like It The biggest benefit is immediate payment relief. For many buyers, the first year of homeownership comes with new expenses such as moving costs, furniture purchases, repairs, and maintenance. A lower mortgage payment during that tr...

  The Federal Reserve held interest rates steady for the fourth consecutive meeting, a move that was widely expected by financial markets. While many consumers hope for lower borrowing costs, the latest announcement signals that the Fed wants more evidence that inflation is moving lower before considering future rate cuts. For homebuyers and homeowners, understanding what this means can help you make more informed financing decisions. The Fed Remains in a Holding Pattern The Federal Open Market Committee (FOMC) left the federal funds rate unchanged, continuing its cautious approach toward inflation. Strong employment numbers and a resilient economy have reduced pressure on the Fed to cut rates quickly. While inflation has shown signs of improvement, policymakers appear committed to waiting for additional data before changing course. What This Means for Mortgage Rates One of the biggest misconceptions is that mortgage rates move directly with Federal Reserve decisions. In reality, m...