Oklahoma Mortgage Group - Mike David

  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...

After a few years where the housing market felt like it was stuck in neutral, 2026 could be the year Oklahoma real estate shifts back into gear . Across Tulsa, Bixby, Broken Arrow, and beyond, more families are expected to make a move as affordability begins to improve. More Homes Will Sell Experts predict an increase in home sales in 2026 as both buyers and sellers start to feel more confident. After several years of limited activity, this renewed momentum could open the door for you to buy or sell with stronger market conditions. Mortgage Rates Could Ease After peaking near 7% earlier this year, mortgage rates are expected to gradually decline into the low 6s or even high 5s, according to Fannie Mae, MBA, and Wells Fargo forecasts. Even a small dip can mean hundreds in monthly savings for Oklahoma buyers. Home Prices Will Rise at a Sustainable Pace Instead of the rapid price jumps we saw in past years, projections show more balanced growth — averaging around 2–4% nationwide. L...

  There’s exciting news for both realtors and homebuyers in the Tulsa area: the conventional loan limit has just increased to $819,000 (up from $806,500). This change applies to new locks with funding dates on or after September 24, 2025 . What This Means for Buyers If you’re shopping for a home in Tulsa, Bixby, Jenks, or Broken Arrow, this increase gives you more buying power . You can now consider homes in a higher price range while still staying within conventional financing guidelines. That means you’ll avoid the stricter requirements of jumbo loans and keep the benefits of conventional financing, such as competitive interest rates, easier qualification, and more flexibility. What This Means for Realtors For realtors, this loan limit increase is a valuable tool in guiding clients. Buyers who may have been capped by the old $806,500 limit can now explore more homes that fit their needs. This is especially important in today’s market, where prices can easily cross that threshold...

Over the past few years, rising home prices and interest rates have made homebuying feel out of reach. But here’s some encouraging news: mortgage rates have finally started to stabilize , and that’s a big deal for Tulsa buyers. As shown in the chart below, rates have held steady in the mid-6% range since late 2024.  Forecasts from Fannie Mae, MBA, and Wells Fargo all agree, rates are expected to remain in the 6’s through 2026.  That means less guesswork and more confidence as you plan your move. Why it matters: When rates are all over the place, it’s hard to know what your monthly payment might be. But with this new stability, buyers have a clearer picture of their budget — and that makes buying a home feel less risky and more realistic. Expert forecasts suggest rates might tick down slowly, but we likely won’t see a dramatic drop anytime soon. Trying to time the market could mean missing today’s opportunity. Ready to run the numbers and see what your monthly payment co...

Buying a home in Tulsa just got easier. Whether you're a first-time homebuyer or looking to upgrade without draining your savings, Oklahoma offers several down payment assistance (DPA) programs that can help you get the keys to your dream home with little or  no  money down. What is Down Payment Assistance? Down Payment Assistance (DPA) helps cover part, or all of the down payment and sometimes closing costs. In Tulsa and throughout Oklahoma, these programs come in the form of: Grants (no repayment) Forgivable loans (repaid only if you sell or refinance early) Deferred or repayable loans (often with low or no interest) Why It Matters for Tulsa Homebuyers With rising home prices, many qualified buyers are being held back by one key factor: the need for cash for the down payment. These DPA programs open the door to homeownership, especially for first-time buyers, teachers, first responders, and families who just need a little help to get started. Top Down Pa...

For over 80 years, VA home loans have helped Veterans and active-duty service members achieve the dream of homeownership. Yet, many are still unaware of one of the most powerful VA loan benefits: no down payment required . A recent Veterans United report reveals that only 3 in 10 Veterans know they can buy a home with $0 down using a VA loan . That means 70% of eligible Veterans could be missing out on one of the best home financing options available. At Oklahoma Mortgage Group (OMG) in Tulsa , we’re committed to helping Veterans understand and use their well-earned benefits. VA loans offer: $0 down payment options No private mortgage insurance (PMI) Low fixed interest rates Flexible credit guidelines Limited closing costs These benefits make homeownership more accessible and affordable for those who have served. If you're a Veteran in Tulsa or anywhere in Oklahoma, don't leave this benefit on the table. Contact the experts at Oklahoma Mortgage Group to ch...

On last week's all-company call, we recognized 7 Loan Officers, including 3 former President’s Club producers, who left Waterstone Mortgage but returned in the last quarter. This trend has become so common that we now have a name for it: Boomerang Hires. Why did they come back? The answer was unanimous: Waterstone Mortgage is simply the best place to grow your business. Although I’m not a Boomerang Hire, I took a deep dive into other companies, and the reality is—the grass isn’t greener elsewhere. The resources, support, and culture at Waterstone—especially within Oklahoma Mortgage Group (OMG)—are unmatched. That’s why OMG is the top mortgage branch in Tulsa and one of the most recognizable and respected mortgage teams in the area. We’re looking to add at least two more experienced LOs in 2025. Here’s what sets OMG at Waterstone Mortgage apart: 1. Top-Tier Sales Support – A dedicated local front and back-end team so you can focus on relationships and referrals, not paperwork. 2. Ma...

I am h onored to be recognized among the top 1% of mortgage originators in America for 2024. Thank you to my amazing clients and partners for trusting me and the best mortgage team in Tulsa PERIOD!! Mike David Oklahoma Mortgage Group 918-361-1550 Mike@OMGHomeLoans.com www.OklahomaMortgageGroup.com

 

If you’ve been wondering why mortgage rates remain stubbornly high, the answer lies in the strength of the U.S. job market and its impact on key financial indicators like the 10-year Treasury yield. Let’s break it down: Mortgage rates often follow the 10-year Treasury yield, which reflects investor sentiment about the economy. As of early 2025, the 10-year Treasury yield is holding near 4.6%, a level that continues to support elevated mortgage rates. But why is the yield so high? The resilience of the labor market plays a significant role. Recent data shows that jobless claims—an indicator of layoffs—remain low, with seasonally adjusted claims at just 211,000 in December 2024. This signals a strong job market, which reassures investors that the economy can withstand higher interest rates. As a result, the Federal Reserve has less incentive to cut rates, and bond yields stay elevated. This dynamic has a direct impact on mortgage rates. For prospective homebuyers, it means rates may not ...

 Did you know the typical homeowner’s net worth is roughly 40x greater than a renter’s? It’s a staggering statistic that highlights the profound financial benefits of homeownership. Owning a home is the #1 way to build wealth in the U.S., and it’s a key step toward financial security and independence. Here’s why: when you own a home, your net worth grows as you pay down your mortgage and as home values rise over time. This wealth-building power, often referred to as equity accumulation , is something renters miss out on. Renters pay monthly for housing but don’t get to reap the rewards of equity or appreciation, which are two major drivers of homeowner net worth. The numbers tell the story. According to data from The Federal Reserve, homeowners consistently build equity while renters’ financial growth remains limited. For example, while home values have risen significantly over the last decade, renters’ net worth has increased only marginally. This growing gap showcases how own...