Posts Tagged With: mortgage rates Tulsa

Saving Big with Refinance Loans www.ZFGMortgage.com

Posted on February 6, 2009 by Mortgage Lender - Tulsa

Saving Big with Refinance Loans www.ZFGMortgage.com

If you are one of the many U.S. homeowners facing increasing financial pressures due to the slowing housing market, you may be able to find relief by refinancing your current mortgage loan. Refinancing simply means taking out a new loan to pay off your existing loan. This can net you big savings when the current interest rates are lower than the rate you got on your original mortgage.

Fortunately, even though the national economy has remained fairly strong, the trouble in the housing market, particularly the subprime industry, has allowed mortgage interest rates to remain low. In fact, rates are even lower today than they were a year ago. Today mortgage finance company Freddie Mac announced that the average rate on a 30-year fixed loan is now 6.17% compared with 6.43% at this time last year. Most economists predict the subprime foreclosure crisis will continue to drag on the economy for many months to come. That means interest rates have the potential to fall even more in the near future, making it a great time for you to refinance into a new low-rate mortgage loan.

Refinancing will not only save you on interest charges because of the better rate, but it can also decrease your monthly payments, making it easier for you to keep up with your mortgage. Let’s say, for example, that you got your original mortgage with a 7% interest rate. If you bought a house for $200,000 with a 30-year fixed term, you are paying roughly $1,330 a month on your mortgage. Over the life of the loan you will pay about $279,000 in interest charges. Let’s say you have been in the home for three years and your current loan balance is about $193,000. If you can refinance that amount into a new loan at 6%, your new month payment will be about $1,160. That would be a monthly savings of $170. During the course of your new loan, you will pay approximately $223,600 in interest, quite a bit less than you would have at 7%!

Of course, the savings are not exactly that simple. Every mortgage loan requires closing costs, fees paid upfront for certain loan-associated services. These can range from several hundred dollars to a few thousand dollars. These costs will offset your savings from the lower rate. You can still save a lot of money from refinancing, but you have to make sure that your savings will make the upfront costs worth it in the end. In order to derive real monetary benefits from your new mortgage deal, you need to plan to stay in your current home long enough to make your savings more than equal the closing costs you have to pay. So if you will $200 a month and you have to pay $2000 in closing costs, you need to stay in your home at least ten months to break even; you have to stay long to see any savings on the deal.

So while you do need to do your homework and crunch the numbers, you may find that now is a great time to refinance and reduce the stress of your current mortgage!

www.ZFGMortgage.com

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535

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Refinance your subprime or high rate mortgage before it is to late!

Posted on February 6, 2009 by Mortgage Lender - Tulsa

Refinance your subprime or high rate mortgage before it is to late!

www.ZFGMortgage.com

Sub-prime mortgage woes dominate the news these days, but all the foreclosures are causing real problems for average Americans. Suburban neighborhoods are being emptied at record rates, leaving vacant, untended properties that lower the property values of surrounding homes.

Barbara Anderson, 59, lives in a suburb of one of the hardest hit U.S. cities – Cleveland, Ohio. She recently told a New York Times reporter that her block was full of residents just three years ago, but now that the housing market and economy are weaker only about half of the homes are filled. The vacant homes have been stripped of all sellable items by local scavengers, leaving the neighborhood looking run-down.

“It stifles you,” said Anderson. “It lowers the value and affects the kind of people who are willing to move here. I’m embarrassed to say I live here.”

According to Mark N. Wiseman, the director of an Ohio foreclosure prevention program, of Cleveland’s 84,000 single-family homes, perhaps 10,000 homes are now empty. This is a result of the more than 15,000 foreclosures last year in the city and its 58 suburbs.

While the Cleveland examples exhibit some of the extremes of the housing slump, many cities around the country have experienced the same problem to some degree. The problem began when mortgage lenders began loosening their lender standards several years ago to help homebuyers take advantage of the housing boom. Sub-prime, or poor credit, borrowers found loans especially easy to come by, as lenders offered interest-only and pay option ARMs with little or no proof of income or assets.

During the plenty of the housing boom, home appreciation grew fast enough to help borrowers refinance when their adjustable rate loans started adjusting. Troubled homeowners could also easily sell their homes in the red hot market. Today though, sales have slowed and home prices have stagnated or even dropped, leaving borrowers with little equity to bargain with.

Another major problem appears to be a lack of understanding on the part of sub-prime borrowers. A surprising number of borrowers do not even know what type of loan they have. This creates big trouble when the initial low interest rate first adjusts for those with adjustable rate mortgages. They experience serious “payment shock” when they are suddenly required to pay several hundred dollars more each month, having not prepared their finances for the jump.

Whether you are a sub-prime borrower or not, if you do not know what type of loan you have or do not understand the terms, now is the time to find out! If you do have an adjustable rate mortgage, you need to find out when your fixed rate period will and determine if you will be able to afford the higher payments.

If you are worried about being able to keep up, there are a few things you can do. First, you may be able to refinance into a fixed rate loan. Interest rates are still low by historical standards and the security of having the same payment every month until the end of the loan will give you a lot of comfort.

If your credit is really bad or you cannot refinance for other reasons, you may simply have to try to sell your home to avoid defaulting on your loan.

You can also contact your lender and inform him of your concerns. He may be willing to work out some alternate payment terms to help you sidestep foreclosure. The key is to act now, get the details of your loan, and prepare for any brewing mortgage trouble, in order to avoid losing your home and creating one more empty house on the block!

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535
www.zfgmortgage.com

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TULSA MORTGAGE WWW.ZFGMORTGAGE.COM

Posted on February 6, 2009 by Mortgage Lender - Tulsa

First-time Home Buyer Essentials www.ZFGMortgage.com

www.ZFGMortgage.com

Most regions around the country are experiencing a housing market slump at the present time. Existing home sales have generally been falling since the beginning of the year and median home prices have also been dropping compared with their year-ago numbers. Property value appreciation has been slow in most markets of the nation and some areas have even experienced stagnated prices or devaluation of properties. On top of that, foreclosure rates have been rising among subprime or poor credit homeowners, meaning that the inventory of homes on the market keeps rising.

This might seem like a scary time to jump into the housing market. Yet if you are a first-time home buyer, you may find this a good time to score a great deal as sellers compete ferociously for your business. First-timers have even an added edge above repeat home buyers in this market. The reason is that sales to current homeowners often take long or are more complicated because they must coordinate the sale of their own home as well. First-time home buyers come with no (mortgage) strings attached and are therefore the ideal buying candidates for many sellers.

Even in a buyers’ market, it is still important to look around do some research to make sure you get the best deal. First you should take careful stock of your resources to figure out how much home you can afford. A really good deal may mean nothing if it is not in your price range. You can get a rough idea of your housing budget by applying the mortgage lenders’ general rule of thumb. That is that your total monthly debts, including your mortgage payment, are equal to or less than 36 percent of your monthly income. So for example, say your monthly income is $3500. Thirty-six percent of that is $1260. If you have monthly debts that equal to $350, you have $910 left to put towards a mortgage payment. Different home loan programs will have different payments but you should keep in mind that the $910 is towards the maximum of your housing budget.

In order to make sure you are a property that will hold its value, you should evaluate the specific neighborhood for several factors. First take a look at how many other homes in the neighborhood are for sale. If there are lots of homes for sale, you may be able to get a greatly reduced price, but it may also be very difficult to get out of the home if you need to turn around and sell it in the coming years. Another important factor is the quality of the schools in the neighborhood. Even if you do not have children, neighborhoods with good schools attract more buyers and better prices for you in a resale.

Finally, consider how you plan to pay for the down payment. In today’s buyers market you will likely find plenty of sellers willing to negotiate the home price down, pay for your closing costs, and perhaps even pay your down payment through some sort of down payment gift plan. Don’t be afraid to suggest this option. There are plenty of non-profit organizations that handle such transactions and having the seller provide the down payment could end up saving you thousands of dollars!

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535

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Tulsa Mortgage

Posted on January 29, 2009 by Mortgage Lender - Tulsa

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535

Broken ArrowMortgage – Broken Arrow Home Loans

Broken Arrow is the fastest growing city in the state of Oklahoma! With an extremely low crime rate, a wonderful school district, and a family oriented community, we decided to service mortgages all over the state of Oklahoma right here in Broken Arrow. We are proud to both live and work in this great city, and would love to help you with any Broken Arrow mortgage or home loan. Our Broken Arrow loan programs include fixed-rate mortgages, adjustable-rate mortgages, first-time buyer programs, and even less-than-perfect-credit loans. In addition, our professional mortgage Associates prepare a customized pre-approval letter along with a good-faith estimate so that you can shop the Broken Arrow real estate market with confidence!

Broken Arrow Refinance | Broken Arrow Home Equity

ZFG mortgage is proud to offer some of the most competitive mortgage interest rates in the . The majority of the United States mortgage industry is forecasting a steady increase in interest rates throughout all regions of the country. That means that now is the perfect time to inquire about refinancing an existing home loan or applying for a home equity line of credit. We have an assortment of flexible loan options to fit every area homeowner’s unique situation, and best of all, we aim to provide superior service; with this key point in mind we conduct all of our loans with your pocketbook as our primary focus. If you have any questions regarding mortgages or home loans, please feel free to contact us at 918.459.6530. We look forward to serving you any way that we can!

Jenks Mortgage | Jenks Home Loans

If you’re considering purchasing a home in the wonderful city of Jenks, Oklahoma, we have a home loan to suit your needs! We specialize in mortgages and home loans all over the state of Oklahoma. Our Jenks home loan programs include fixed-rate mortgages, adjustable-rate mortgages, first-time buyer programs, and less-than-perfect-credit mortgage programs. If you would like more information about getting pre-approved for a Jenks home loan, please don’t hesitate contact us at 918.459.6530.

Jenks Refinance | Jenks Home Equity

Currently, our mortgage rates are some the best the nation has ever had. If you own home in the Jenks area and you’re considering refinancing a high interest-rate, or would like more information about our competitive home equity rates, now is the time. We offer a confidential and secure online application service, or if you prefer, you can call us at 918.459.6530 and one of our professional mortgage Associates will guide you through the loan application process.

Owasso Mortgage | Owasso Home Loans

Considered one of the most desirable places to live in the Tulsa, Oklahoma area, Owasso’s real estate market is surging! There is a high demand for home loans in the city of Owasso due to a booming economy and record high commercial and residential construction. In fact, Owasso is supporting over 500 new homes per year! We will work with you to find the ultimate Owasso home loan for your unique situation, so whether you are looking to purchase a new or existing home, we have the Owasso mortgage for you!

Owasso Refinance | Owasso Home Equity

If you already own a home in Owasso and would like more information on refinancing your home, you have come to the right place. We also offer home equity loans and lines of credit if you are looking to consolidate debt or remodel your Owasso home! Be sure to check out our daily interest rates; the most competitive rates in the state of Oklahoma. If you have any questions about Owasso Mortgages or Homes Loans, don’t hesitate to call one of our Mortgage experts at 918.459.6530. Call today!

Bixby Home Loans | Bixby Mortgage

Here at ZFG Mortgage, we take pride in our ability to service the entire state of Oklahoma with superior customer service while offering the most competitive interest rates. However, we always prefer meeting a client face-to-face, and because Bixby, Oklahoma is right next door to our office in Broken Arrow,Oklahoma, we are happy to provide service to Bixby residents for all of their home-loan needs! Whether you need to refinance your current home, submit a new home loan application, or obtain a good-faith estimate, we have professional mortgage Associates standing by to answer any and all questions!

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Buying a Home in Bixby?

The best way to start the home buying process is to obtain a pre-approval letter from your lender. There are several advantages to obtaining this letter; first of all, it will give you the upper hand in any multiple offer situations. The effect that will have on a perspective seller can be extreme, and more and more sellers are requiring a pre-approval letter before looking at any offers. A pre-approval letter will also provides you with an exact price range, giving you the added confidence of knowing what you can afford. Our mortgage experts will also be happy to provide you with a free good-faith estimate, which will allow you to adjust your monthly finances with precision. If you would like to get started on a complete online loan application, or to simply request basic information, feel free to e-mail us or call us at 918.459.6530

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535

Tulsa Mortgage

Tulsa Home Loans

ZFG Mortgage Group your home loan resource!

Since we opened our doors, ZFG Mortgage has provided superior service to Tulsa home buyers and home owners. We specialize in mortgage loans, mortgage refinancing, and home-equity loans. Whether you’re a first-time buyer or an experienced real estate investor, we have the mortgage loan program for you. We are proud to offer you the necessary tools and information to help you make an educated decision when it comes to refinancing or purchasing a home in the Tulsa, Oklahoma area! Mortgage calculators, daily updated Tulsa interest rates, pre-approval letters, good-faith estimates and personalized service are some of the things that allow ZFG Mortgage to be Tulsa area Mortgage experts

Tulsa Lender Pre-approval

Letter

Tulsa Loan Application

Getting a mortgage pre-approval letter has never been more important. The first to take any well executed Tulsa area home search is the pre-approval process. More sellers are refusing to look at any offer in less there is a pre-approval letter attached. This process will not only give you a precise price range, but it will give you the confidence of knowing what you can afford. ZFG mortgage goes the extra mile with a custom good-faith estimate that will allow you to adjust your monthly finances with precision. Also, a pre-approval letter from a trusted mortgage company like ZFG mortgage will give you the upper hand in any multiple offers situation. If you would like to apply for a pre-approval on any one of our loan programs we offer three convenient ways, online with our secure server, by phone or in person with our professional mortgage Associates.

Tulsa Financing |

Home Loan Programs

We offer a large variety of Tulsa home loans including, fixed rate mortgages, adjustable rate mortgages, first-time buyer programs, stated income programs, home equity line of credit loans, and we even have “less than prefect credit” programs! If you are considering refinancing your home, check out are daily interest rates! We want you to remember we are here to help you anyway we can, we want your long term business as well as your referrals, which is why we always advise you to make choices based off of you and your family not our profit. If you have any question or would like to apply for a loan in person or over the phone please feel free to contact us at 918.459.6530

Tulsa Mortgage Refinancing

Oklahoma Mortgage Refinancing

If you currently own a home within the state of Oklahoma, ZFG Mortgage can provide you with refinancing information and quotes absolutely free. At this time, Oklahoma mortgage interest rates are some of the lowest the state has ever seen, and ZFG mortgage is proud to have the most competitive interest rates in the Tulsa area! Our mortgage and home loan refinancing application is quick and easy. You can apply online with our secure server, by phone, or face-to-face with one of our professional mortgage experts. Our highly trained mortgage Associates will provide you with a custom report explaining the advantages and disadvantages of refinancing your current mortgage. Here at ZFG mortgage, our advice reflects your financial interests. If you have any questions about our refinancing programs, or for current interest-rate information, please do not hesitate to contact us at 918-459-6530.

There are countless reasons people need home-equity loans these days. We at ZFG Mortgage are happy to offer competitive interest rates and a quick and easy way to apply. We service home-equity loans the entire state of Oklahoma and have developed a straightforward and time-saving process for your added convenience. If you have any questions or would like to apply, please contact us at 918-459-6530.

Zeshu Financial Group
5807 S Garnett Rd Suite I
Tulsa, Oklahoma 74146
Toll Free 1-877-205-7266 | Fax: 918-459-6535

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Tulsa Home Equity loans | Oklahoma Home Equity loans

Posts Tagged With: mortgage rates Tulsa

Saving Big with Refinance Loans www.ZFGMortgage.com

Saving Big with Refinance Loans www.ZFGMortgage.com

Refinance your subprime or high rate mortgage before it is to late!

Refinance your subprime or high rate mortgage before it is to late!

TULSA MORTGAGE WWW.ZFGMORTGAGE.COM

First-time Home Buyer Essentials www.ZFGMortgage.com

Tulsa Mortgage

Broken Arrow Refinance | Broken Arrow Home Equity

Jenks Refinance | Jenks Home Equity

Buying a Home in Bixby?

Tulsa Mortgage

Tulsa Home Loans

Tulsa Lender Pre-approval

Letter

Tulsa Loan Application

Tulsa Financing |

Home Loan Programs

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