Oklahoma Mortgage Group - Mike David

  If it feels like renters are staying put longer than ever, you are right. According to recent housing data, the average renter now stays in their home for 6.5 years, up from just 5.9 years in 2019. While that may not seem like a big jump at first glance, it signals a much larger trend happening in today’s housing market. Why Renters Are Staying Longer There are two main reasons driving this shift: • Rising rent costs • Affordability challenges when buying a home Many potential buyers feel stuck. Higher home prices and fluctuating mortgage rates can make it seem like waiting is the safer option. But in reality, waiting can come with a hidden cost. The Real Cost of Renting Longer When you rent, your monthly payment builds zero equity. When you own a home, a portion of every payment goes toward building wealth. Over time, this creates a significant gap. Studies show the average homeowner’s net worth is dramatically higher than that of a renter, often by as much as 40 times. The long...

If you’re a homeowner in Tulsa and need quick access to funds, a home equity line of credit (HELOC) could be one of the smartest financial tools available right now. Many homeowners are sitting on significant equity but don’t realize how quickly they can access it, without the long timelines or hurdles of traditional loans. At Oklahoma Mortgage Group, Mike David and the team are helping clients tap into their home equity with a fast, streamlined HELOC program designed for real-life needs. What Is a HELOC? A HELOC, or home equity line of credit, allows you to borrow against the equity you’ve built in your home. Instead of receiving one lump sum, you get access to a line of credit that you can use as needed. With this fixed-rate HELOC program, your interest rate and initial draw amount are locked in at closing, giving you stability and predictability. Why Homeowners in Tulsa Are Choosing HELOCs This program is built for speed and convenience, something many traditional loan options lack....

When shopping for real estate in Oklahoma , your interest rate is just as important as the home’s listing price. This rate dictates your mortgage affordability and determines how much house you can actually get for your monthly budget. How Rates Affect Your Loan Amount As seen in the comparison table, even a small decrease in the mortgage interest rate significantly increases your borrowing limit. For example: Higher Rates: At 7.75% , a $400,000 loan results in a $2,866 monthly payment. Lower Rates: At 6.00% , that same $400,000 loan drops to $2,398 monthly. This difference of nearly $470 per month could be the gap between your dream home and a compromise. Now flip that around… If your budget is fixed, a lower rate could increase your purchasing power by tens of thousands of dollars. Why This Matters in Today’s Market Mortgage rates have been moving more than usual lately. That can feel overwhelming, but it also creates opportunity. The key is not trying to “time the market”...

Mortgage rates have been moving around quite a bit lately, and if you're thinking about buying a home, it can feel a little unsettling. Here’s the reality: this kind of movement is completely normal. When there’s economic uncertainty, inflation concerns, or global events impacting financial markets, mortgage rates tend to fluctuate more than usual. That doesn’t mean the market is broken, it just means we’re in a more reactive environment. And while you can’t control what mortgage rates do day-to-day, you can control the factors that determine the rate you qualify for. What You Can Control If you're planning to buy a home in Tulsa or anywhere in Oklahoma, here are the three biggest things that impact your mortgage rate: 1. Your Credit Score Higher credit scores typically lead to better interest rates. Even small improvements can make a meaningful difference in your monthly payment. 2. Your Loan Type Different loan programs, like conventional, FHA, VA, or specialty programs, can...

  Following the most recent FOMC statement, the Federal Reserve has maintained the Fed funds rate at 3.50% to 3.75%. This pause comes as the war against Iran continues to drive oil prices higher, sustaining inflationary pressures that make rate cuts difficult to justify in the immediate term. The Fed’s Dual Mandate and the Risk of Stagflation The Fed is currently navigating a complex "no growth, but no contraction" jobs market. With the BLS Unemployment Rate at 4.4%, there is a growing concern that the economy could enter a stagflation environment. If the labor market weakens while inflation remains high due to energy costs, the Fed’s dual mandate—balancing employment and price stability—will be put to an extreme test. This political and economic tension arrives as Jerome Powell’s chairmanship nears its end on May 15. The confirmation of Kevin Warsh as the next chair remains subject to political opposition, adding further uncertainty to the path of monetary policy. Strategic ...

  Are you self-employed and thinking about buying a home, but worried you won’t qualify for a mortgage? You’re not alone. One of the biggest challenges for self-employed borrowers in Tulsa is that tax returns don’t always tell the full story. Business owners, freelancers, consultants, and 1099 earners often write off expenses to reduce taxable income. While that’s smart financially, it can make income appear much lower on paper when applying for a traditional home loan. That’s where the Statement Select loan program from Waterstone Mortgage comes in. What is Statement Select? Statement Select is a mortgage solution designed specifically for self-employed homebuyers. Instead of relying only on tax returns, this program allows a Tulsa mortgage lender to evaluate your real income using alternative documentation. This gives a more accurate picture of your financial situation and your ability to afford a home. How You Can Qualify With Statement Select, you may qualify using: 1...

If you’ve been watching Tulsa mortgage rates and wondering whether to wait for them to drop, you’re not alone. Many homebuyers across Tulsa, Bixby, Jenks, Broken Arrow, and the surrounding areas are hoping to see rates return to the historic lows of 2020–2021. However, according to the Mortgage Bankers Association (MBA), current projections show 30-year mortgage rates remaining in the mid-6% range through 2026 and into 2027. While short-term fluctuations are always possible, the broader forecast does not indicate a return to 4% or even low-5% mortgage rates anytime soon. What the Mortgage Bankers Association Forecast Means for Tulsa Buyers The MBA’s outlook suggests stability rather than a dramatic decline. For buyers in the Tulsa real estate market, this changes the conversation from “waiting for lower rates” to “buying strategically in today’s market.” If rates remain in the mid-6% range: Buyers waiting for a major drop may delay homeownership longer than expected Home pric...

The Federal Reserve wrapped up its January 2026 meeting with no change to the Fed Funds rate , keeping it in the current range of 3.50%–3.75% . While there has been plenty of public pressure on the Fed to lower rates, today’s decision was not a surprise to the market. In fact, this marks a pause after a series of recent rate cuts and reflects the Fed’s “wait and see” approach as it evaluates where the economy goes next. Why Didn’t the Fed Cut Rates? The Fed has two primary goals: Keep inflation under control Maintain a healthy job market To justify additional rate cuts, the Fed needs to see one of two things: A noticeable slowdown in the job market, or Inflation moving convincingly closer to its 2% target At the moment, neither of these conditions is strong enough to warrant another cut. Employment remains relatively stable, and inflation is easing, but not yet at the level the Fed wants to see. When Could Rates Start Coming Down Again? Current market expectation...

  “Should I wait?” It’s the most common question buyers are asking right now, and for good reason. Mortgage rates have been moving, headlines are noisy, and buyers don’t want to make the wrong move. But when you look past the headlines, the market is quietly shifting in ways that can actually benefit prepared buyers. Mortgage rates are currently near a three-year low , even with some short-term ups and downs. At the same time, many markets are seeing improved inventory, less buyer frenzy, and more opportunity to make thoughtful decisions instead of rushed ones. This doesn’t mean every buyer should jump in immediately. It means the conversation should shift from “waiting for the perfect rate” to “building the right strategy.” In today’s market, buyers who win are the ones who: • Understand their numbers • Know their loan options • Are ready when the right home appears Timing the market perfectly is nearly impossible. Positioning yourself correctly is not. If you or your clien...

As we step into 2026, we’re taking a moment to reflect on what an incredible year 2025 was for Oklahoma Mortgage Group and the families we were honored to serve across the Tulsa metro. Last year, our team helped 258 families achieve homeownership and funded over $72 million in home loans . Behind those numbers are first-time homebuyers, growing families, move-up buyers, relocations, refinances, and fresh starts, each with a unique story and goal. More Than Just Numbers While we’re proud of the milestones we reached in 2025, what matters most to us is how we reached them. Every loan represents trust; trust in our advice, our process, and our commitment to doing what’s right for each client. As a local Tulsa mortgage lender , we believe in educating buyers, clearly explaining options, and structuring loans that support both short-term affordability and long-term financial health. Whether a client is buying their first home or their fifth, our approach remains the same: people firs...

  New for 2026: $10,000 Down Payment Assistance Now Available for Homebuyers One of the biggest obstacles to buying a home is coming up with the upfront cash. For 2026, there is good news for Tulsa and Oklahoma homebuyers. The Downpayment Plus® Program is officially live for 2026 and offers up to $10,000 in down payment assistance to eligible buyers. This program is provided through the Federal Home Loan Bank of Chicago and is designed to help buyers purchase a primary residence with less money out of pocket. Even better, this program can be combined with OHFA (Oklahoma Housing Finance Agency) programs , creating powerful options for buyers who need additional assistance. How the Downpayment Plus® Program Works The Downpayment Plus® Program provides a grant that can be used toward down payment and or closing costs . When combined with the right loan program, it can significantly reduce the amount of cash a buyer needs at closing. Key program highlights include: • Up to $10,000 ...

If you work for a school in Oklahoma, homeownership just became more accessible. The Oklahoma Housing Finance Agency has expanded its OHFA Teacher Program, opening eligibility to many more school employees across the state. The program no longer requires a teacher certification. What changed? Any employee of an Oklahoma accredited public school or private or parochial school may now qualify using a paystub. Who may be eligible? This includes a wide range of school staff, such as: School counselors Administrative and office staff Paraprofessionals Cafeteria workers Custodians and maintenance staff Other support personnel Current program highlights As of today, the OHFA Teacher Program offers: A discounted interest rate of 5.375% 3.5% down payment assistance for qualified buyers Why this matters With lower rates and built-in down payment assistance, this program can significantly improve affordability for school employees who serve Oklahoma communitie...

The Federal Reserve just announced another 0.25% rate cut , and if you’re thinking about buying a home in Oklahoma, you’re probably wondering what that means for your mortgage rate and monthly payment. At Oklahoma Mortgage Group , we’ve been walking our clients and realtor partners through what this actually means in real life—not just on Wall Street. Does a Fed Rate Cut Mean Lower Mortgage Rates? Not automatically. The Fed controls the Fed Funds Rate , which directly impacts short-term rates like credit cards, auto loans, and home equity lines of credit. Longer-term fixed mortgage rates , like the 30-year conventional loan most Oklahoma buyers use, are more influenced by: Inflation data Jobs reports Bond market expectations (especially the 10-year Treasury) So while a Fed cut can help create a friendlier rate environment over time, it doesn’t guarantee your 30-year mortgage rate will drop right away. Why Waiting for the “Perfect Rate” Can Backfire Many buyers say, ...

The Federal Housing Finance Agency (FHFA) has announced the new 2026 conventional conforming loan limit , and it brings a major advantage to homebuyers in Tulsa and across Oklahoma. The loan limit for a one-unit single-family home is now $832,750 , an increase of more than $25,000 from last year. For buyers, this means greater purchasing power without needing a jumbo loan. Jumbo loans remain a great option for higher-budget buyers, but they typically require larger down payments, stronger credit, and more documentation. With the higher conforming loan limit, more Tulsa homebuyers can stay in the conventional category—often resulting in smoother approvals, lower mortgage insurance, and more affordable payment options. Why This Matters in the Tulsa Market As home prices continue to rise in Tulsa, Bixby, Jenks, Broken Arrow, and the surrounding Oklahoma communities, this increased limit allows buyers to finance higher-priced homes using a conventional loan instead of jumping straight i...

  For Veterans, active-duty service members, and military spouses, the VA home loan program remains one of the most valuable benefits ever created. Yet many never use it. According to Veterans United, 70% of Veterans don’t realize they may qualify for a $0-down VA home loan . For Tulsa families, this can mean missing out on thousands in savings and a faster path to homeownership. Why VA Loans Are a Smart Option for Tulsa Homebuyers For nearly eight decades, VA loans have helped millions purchase homes with flexible guidelines and significant financial advantages. Key benefits include: 1. $0 Down Payment Many eligible buyers can purchase a home in Tulsa without saving for a down payment, making homeownership more attainable. 2. Lower Upfront Costs The VA limits the types of closing costs Veterans can be charged, helping preserve your cash for moving expenses, updates, or savings. 3. No Private Mortgage Insurance (PMI) Unlike conventional or FHA loans, VA loans do not require...

Now that the federal government has reopened, the Federal Housing Finance Agency (FHFA) and the current administration have reignited discussions around reforming the GSEs (Fannie Mae and Freddie Mac). Over the weekend, the administration publicly floated the idea of introducing a 50-year fixed-rate mortgage , calling it a potential “game-changer.” This proposal signals a bold departure from the traditional 30-year mortgage model, and a willingness to re-engineer one of the most foundational elements of the U.S. housing finance system in the name of affordability and access. But does it really solve affordability? Let’s break it down. The Concept: Stretching the Term to “Fix” Affordability Strategically, a 50-year mortgage would aim to lower monthly payments and make homeownership appear more accessible for younger and lower-income buyers. Rather than relaxing credit standards or offering subsidies, the administration seems to be exploring loan structure innovation as a new affo...

  At Oklahoma Mortgage Group , we believe Tulsa’s real estate professionals are the heartbeat of our community. As a Tulsa mortgage lender , we see every day how dedicated realtors work tirelessly to guide families through one of life’s biggest milestones — buying a home. That’s why we were thrilled to join the GTAR Realtor Appreciation Event and celebrate all the amazing agents who make Tulsa real estate shine. Appreciating Tulsa’s Best Realtors The GTAR Realtor Appreciation event was all about connection, gratitude, and fun. We loved being part of a day focused on saying thank you to the people who make the home-buying journey smoother and more meaningful. From first-time buyers to luxury listings, Tulsa realtors go above and beyond to serve their clients — and we’re proud to work alongside them every step of the way. Our Commitment to Tulsa Homebuyers As Tulsa’s best mortgage lender , our mission goes beyond providing great rates and loan options. We’re passionate about ed...