Oklahoma Mortgage Group - Mike David

  Many people believe that you need a 20% down payment to buy a home in Tulsa, but that's not always the case! While putting down 20% can help you avoid mortgage insurance, it's not a requirement. In fact, the median down payment for Tulsa homebuyers is only 15%, and it's even lower for first-time homebuyers at just 8%. So, why the misconception about the 20% down payment? It's a relic of the past! The median down payment hasn't been over 20% since 2005. Plus, there are many resources available to help you with your down payment, such as: Oklahoma-Specific Down Payment Assistance Programs Oklahoma Housing Finance Agency (OHFA): OHFA offers various down payment assistance programs that can provide grant funds or low-interest loans to help with your down payment and closing costs. Learn more at https://www.ohfa.org/homebuyers/downpayment/ REI Down Payment Assistance: REI Oklahoma partners with lenders to offer assistance with down payments and closing costs. They...

Understanding the Dynamics of Tulsa Mortgage Rates Navigating the landscape of Tulsa mortgage rates can sometimes feel like trying to read a complex puzzle. You may come across a piece of information suggesting that Tulsa interest rates are on a downward trend, only to encounter another source claiming they're on the rise again. This oscillation can leave many Tulsa residents puzzled about the actual state of mortgage rates. The truth of the matter lies in the timeframe being considered. To demystify the fluctuating Tulsa mortgage rates, here's what you need to know. The Inherent Volatility of Mortgage Rates Mortgage rates are inherently unstable, influenced by a myriad of factors including economic indicators, Federal Reserve decisions, and global events, to name a few. This results in rates that may increase one day and decrease the next, mirroring the dynamic nature of the economic environment. By examining historical data from Mortgage News Daily on the 30-year fixed mortga...