Oklahoma Mortgage Group - Mike David

  Qualified real estate investors looking for an investment property loan in Oklahoma may be able to purchase with as little as 10% down through Investor Edge 90. The program is designed to help investors expand their portfolios while preserving more of their available capital for reserves, property improvements, and future opportunities. Can you buy an investment property with 10% down? Investor Edge 90 offers up to 90% loan-to-value financing on eligible investment properties. This means qualified borrowers may be able to purchase with a down payment as low as 10%. Program highlights include: Loan amounts up to $1.5 million No mortgage insurance Potential eligibility for investors with up to 50 financed properties Interest-only options for eligible borrowers Up to 85% loan-to-value financing for two- to four-unit properties Eligibility and the required down payment depend on the complete loan application, property, loan amount, and current program guidelines. Why might a lower do...

  Many Oklahoma Veterans Are Missing This Opportunity VA home loans are one of the most powerful tools available for homebuyers—but many veterans in Tulsa and across Oklahoma don’t fully understand how they work or if they qualify. A recent survey revealed a major gap in awareness: Over 50% of veterans have at least one misconception about VA loans 30% aren’t even sure if they’re eligible Many still believe VA loans require a down payment or private mortgage insurance (PMI)—which they don’t This lack of clarity is causing many qualified buyers to miss out on homeownership opportunities. What Makes VA Loans So Powerful? VA loans were designed to help military members, veterans, and eligible spouses purchase homes with more favorable terms than traditional financing. Here’s what sets them apart: 100% Financing – No down payment required No PMI – Lower monthly payments compared to conventional loans Competitive Interest Rates – Often better than traditional loa...

When it comes to building wealth, many people immediately think of the stock market. But the data tells a different story.  H omeownership remains one of the most powerful financial tools available . In fact, the average homeowner’s net worth is 44 times higher than that of a renter. Why? Because real estate combines appreciation, equity, and leverage in a way few other investments can. 1. Home Equity Drives Wealth On average, about two-thirds of a homeowner’s net worth comes from home equity . Every mortgage payment builds ownership, and over time, that equity becomes a significant financial asset. 2. The Power of Leverage One of the biggest advantages of real estate is leverage—being able to control a large asset with a smaller investment. Let’s break it down: $40,000 invested in stocks at a 10% return = $4,000 gain $40,000 used as a 10% down payment on a $400,000 home If that home appreciates just 3% = $12,000 gain That’s a 30% return on your original investmen...

If you’re considering moving to Tulsa or relocating to Tulsa through the Tulsa Remote program, there’s never been a better time to explore your options. Tulsa Remote is a nationally recognized program designed specifically for out-of-state remote workers who are selected to relocate to Tulsa. Participants gain access to a growing, supportive community along with a $10,000 grant to help make the move. At Oklahoma Mortgage Group, we’re proud to be a Tulsa Remote approved lender , helping qualified participants navigate the homebuying process with clarity and confidence. What is Tulsa Remote? Tulsa Remote is a 12-month program built to attract talented remote professionals to Tulsa. Since its launch, it has welcomed 3,500+ remote workers from across the country, representing all 50 states and hundreds of cities. Participants benefit from: • A $10,000 relocation grant • Free coworking space • Monthly networking and community events • Health and wellness resources Even more ...

We’re proud to announce that Mike David, Producing Branch Manager of Oklahoma Mortgage Group, has been recognized on the Scotsman Guide Top Originators list for 2026, based on outstanding performance in 2025. This national recognition places Mike among the top mortgage professionals in the country and reflects a year of strong production, client service, and consistent results. He was recognized in multiple categories, including: • Top Dollar Volume • Most Loans Closed • Top FHA Volume • Top VA Volume But behind every number is something far more meaningful—people and their stories. In 2025, our team had the opportunity to help approximately 260 families navigate the home financing process.  At Oklahoma Mortgage Group, we believe getting a mortgage should feel clear, strategic, and personalized. Our team focuses on: • Transparent communication throughout the loan process • Customized loan options tailored to each client • Creative solutions for unique financial situatio...

  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...

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”...

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...

The current federal government shutdown may cause temporary delays in certain mortgage programs, especially those backed by federal agencies. At Oklahoma Mortgage Group , we’re focused on helping homebuyers and real estate partners understand what this means and how to stay on track toward closing. FHA and VA Loans These programs continue to operate, but because they rely on federal staff for certain approvals, buyers may experience longer processing times or slower response from government offices. USDA Loans New USDA loan commitments and guarantees are on hold until the government resumes full operations. Homebuyers using USDA financing will need to wait for agency approval before closing. Conventional Loans Loans through Fannie Mae and Freddie Mac are not directly impacted and continue to move forward as usual. Flood Insurance The National Flood Insurance Program (NFIP) cannot issue new or renewal policies during the shutdown. Buyers purchasing in a flood zone should secure ...

  Did you know you can buy a manufactured home with no money down using the USDA loan program ? USDA loans aren’t just for farmhouses. Many buyers in eligible rural and suburban areas can qualify for this no-down-payment mortgage option. That means affordable homeownership could be closer than you think. At Oklahoma Mortgage Group, we’ll walk you through eligibility, help you understand the guidelines, and see if this program is the right fit for you. Homeownership is within reach — and you may not need a down payment to get there. Want to explore your options? Call or text us today at 918-361-1550, or set up a quick phone chat with our team to talk about USDA loans and manufactured home financing.

Everyone’s waiting for mortgage rates to fall, and according to NAR, the “magic number” many buyers are hoping for is 6%. But will we see that anytime soon? Most forecasts show rates staying in the mid-to-low sixes through the end of next year. Still, right after the latest weaker-than-expected jobs report, rates dipped to 6.55% — the lowest point this year. That gave buyers and realtors hope that small changes may be on the way, but experts don’t expect a major drop in the near term. Here’s what matters: when rates eventually hit 6%, it could unlock 5.5 million more buyers. That means waiting could also mean facing far more competition and less negotiating power. If buying now works for your budget, moving sooner rather than later could give you an advantage before the market heats up again. Want to talk about your options and run the numbers together? Schedule a quick phone chat with us , or call/text Oklahoma Mortgage Group at 918-361-1550 today to discuss your next best steps.

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...

In December 2024, the Tulsa County Home Finance Authority (TCHFA) introduced the First Home Program , a groundbreaking initiative aimed at helping first-time homebuyers in Tulsa County achieve their dreams of owning a home. As a proud participating lender, we are thrilled to bring you this incredible opportunity, complete with financial assistance, favorable loan terms, and a below-market interest rate. Program Highlights The First Home Program is designed with first-time homebuyers in mind, offering the tools and resources needed to make homeownership more accessible and affordable. Here are the key features of this exciting program: Eligible Area : Tulsa County, Oklahoma. Eligible Borrowers : Buyers and their spouses (even if not purchasing) must be first-time homebuyers. Loan Types : FHA, VA, and USDA-RD loans are accepted. Down Payment Assistance (DPA) : A 3.5% forgivable second mortgage at 0% interest, forgivable after five years of compliance. Interest Rate (as of 1/3/2025) : 5....

When you’re ready to buy a home, it’s essential to understand all the costs involved. While your down payment is a significant factor, don't overlook closing costs . As your trusted Tulsa mortgage lender , I’m here to break it down for you. What Are Closing Costs? Closing costs are additional fees that come with finalizing your home purchase. Every buyer pays these, so it’s important to plan for them. Here’s a breakdown of the typical fees: Application fees Credit report fees Loan origination fees Appraisal fees Home inspection fees Title insurance Homeowners insurance Survey fees Attorney fees Some of these costs are one-time expenses, while others (like homeowners insurance) are ongoing responsibilities after you move in. How Much Are Closing Costs? On average, closing costs range from 2% to 5% of the home’s purchase price . For example: If you're buying a home for $422,600 (the current median price), your closing costs could be between $8,452 and $21,130 . Keep in mind tha...

As we move toward 2025, the housing market is already shaping up to be a more favorable environment for buyers. If you’ve been waiting for the right moment to make your move, here’s what the latest forecasts predict. Mortgage Rates in 2025: Projected to Come Down With inflation cooling, Tulsa mortgage rates are expected to decline throughout 2025, making home loans more affordable for buyers. As per recent projections (as of September 2024), interest rates from major institutions like Fannie Mae, MBA, NAR, and Wells Fargo suggest a gradual reduction: Q1 2025 average: 6.30% Q4 2025 average: 5.98% This is great news for anyone considering applying for a Tulsa home loan . Lower interest rates can help you save significantly on your mortgage in the long run. More Homes Expected to Sell in 2025 The lower Tulsa mortgage interest rates are projected to boost home sales. The forecast suggests an increase in buyer activity, with the total home sales reaching up to 5.7 million units nationwide...

Good news! Mortgage rates have started to trend down a bit. While this is great for anyone looking to buy a home, it's important to remember that rates can still fluctuate as they're influenced by several factors. The economy, inflation, and even decisions made by the Federal Reserve all play a role in these changes. It’s true that rates have been easing, but you might still notice some bumps along the way as new economic data comes in. Odeta Kushi, Deputy Chief Economist at First American, puts it best: “The ongoing deceleration in inflation, coupled with the Federal Reserve’s recent indication of potential rate cuts [in 2024], suggests an environment supportive of modest declines in mortgage rates. Barring any unforeseen circumstances and resurgence in inflation, lower mortgage rates could be on the horizon, but the journey towards them might be slow and bumpy.” In short, while you could see lower rates in the future, it’s a good idea to be prepared for some fluctuations alon...

  Positive inflation news this morning has Tulsa mortgage lenders hopeful that the recent uptick in interest rates might be leveling off. If you've been considering buying a home in Tulsa, this could be a sign that it's time to act. What's Happening with Tulsa Mortgage Rates ? Recent increases: Over the past few weeks, we've seen interest rates climb slightly, which has caused some buyers to pause. Today's news : New inflation data released this morning is lower than expected, which is good news for anyone looking for Tulsa home loans. Lower inflation generally helps keep mortgage interest rates stable or even nudges them lower. The outlook: While we're still waiting on additional economic data to be released this week, the early signs are encouraging. It's possible that we've seen the peak of this recent rate increase. What Does This Mean for Tulsa Home Buyers? Opportunity: If you've been pre-approved for a mortgage or are considerin...