Buying or refinancing a home can be overwhelming. That's why we spent 64 hours researching mortgage lenders in Tulsa to help you start the process. See how these national lenders compare with local lenders before you refinance your home or start shopping for a new home in Green Country.
Companies pay ConsumerAffairs to be authorized, and Newson6 and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.
How we chose the best
We thoroughly researched loan types, fees, brand reputation and consumer reviews.
If you're researching mortgage lenders because you’re planning to buy a house in Tulsa, you have a lot of options when it comes to choosing the right neighborhood. We looked into home prices, crime rates and school rankings to give you an idea of the best places to buy a house in Tulsa along with Tulsa real estate market trends.
How Tulsa real estate trends impact your mortgage lender choices
Whether you're looking for a home for yourself or as an investment, living in a stable market should make it easier to get a home loan and find a mortgage lender in Tulsa that has the best loan option for you.
Understanding these market trends can also help you determine the right time to refinance your home so that lenders can give you a more favorable interest rate.
The median home price in Tulsa is about $120,000, but the market varies widely between sections of the city. About 5 percent of homes are priced over half a million dollars, while more than 12 percent come in under $56,000. These numbers mean that most houses in Tulsa will have a listing price that makes the property eligible for an FHA home loan for qualified borrowers.
The median listing price for houses in Tulsa has increased over the past 10 years, with a sharp spike in home prices starting in December 2015. Although prices fell in the spring of 2017, they're on the rise again, and they're expected to increase about 3 percent in 2018.
The Tulsa housing market is considered relatively stable. Only about 9 percent of the people with a mortgage loan in Tulsa have negative equity on their house, meaning they owe more than it's worth—the national average is 10.4 percent.
Median home prices in the Tulsa area
Best areas to buy a house in Tulsa
The price of the house you choose will influence which type of mortgage loan you’ll need. Once that’s decided, you’ll be closer to choosing the mortgage lender that can offer you the best rates. J.G. Wentworth, AmeriSave and HomeDirect offer a wide variety of home loan types, including FHA loans and VA loans.
Check out the neighborhoods below to see some of the best areas to buy a house before you get a mortgage loan in Tulsa.
South of 111th: The area east of Sheridan and south of 111th has some of the lowest crime rates in the city. Another perk is the school district—even though the houses there are in Tulsa, they're in the Jenks school district, one of the best in Tulsa County. If you buy a home in this area, you'll live close to shopping, restaurants, fitness centers and the southern end of the river trails.
It includes the neighborhood of Brittany Estates, Wind River, Sandusky, Hunter's Hill, Reserve at Forest Hills, Fieldstone, Hudson Meadows and Woodfield. Houses in these Tulsa neighborhoods come with a price tag that reflects the safety and amenities, with listing prices around $400,000.
Near the Philbrook: The area between Peoria and Harvard from 21st to 41st is another low crime area with good schools. Utica Square, the Gathering Place and the Philbrook Museum of Art are all nearby, providing plenty of opportunities for entertainment.
The area includes most of Brookside, Terwilleger Heights, Maple Ridge and some of central midtown. Prices for homes in these neighborhoods vary widely, ranging from about $250,000 to over half a million. Houses are most expensive closer to the Philbrook and Utica Square. If you choose a house in this area, look for a mortgage lender like AmeriSave that offers non-conforming loans, which you might need to buy a more expensive home.
West of 244: You might not think of the area west of Interstate 244 and just south of the river when shopping for a new home, but crime rates are lower there than in many other parts of Tulsa, and the Berryhill schools in the area rank well.
If you're shopping for houses in this area, look for these neighborhoods in listings: West Tulsa View Acres, West 41st, Red Fork Lookout, Laurel, Berry Hill Acres and Rolling Acres. On average, homes in these neighborhoods cost about $90,000, significantly lower than areas with a similar low crime rate.
East Tulsa: The area between 11th and 41st from Garnett east toward the city boundary at South 193rd East Avenue is an ideal choice if you're looking for a lower crime area with reasonable property prices. It's less trendy than midtown, which also means its less expensive, and it's also safer. Schools in this area are a mixed bag, so look at the school for any home you're interested in before making an offer if you have kids.
Neighborhoods in this area include Lynn Lane, Briarglen, Eastland Acres, Eastland Park, Shannon Park, Whispering Meadows and Cherokee Village. Prices range from around $80,000 to $110,000, with the least expensive homes in the northeast section of the Lynn Lane neighborhood.
The suburbs If you work in Tulsa, but you're looking for more space or property, consider buying a house in a smaller city near Tulsa, like Owasso or Broken Arrow. Both of these cities will give you the feel of a smaller town with convenient access to everything Tulsa has to offer.
Median home prices in Broken Arrow are about $170,000, but you can find houses close to $120,000 in some areas of the city. Owasso is slightly more expensive, with the median price of homes falling just under $200,000. Some homes in both Broken Arrow and Owasso qualify for USDA loans, which are designed to help develop rural areas.
Quicken Loans is one of the largest mortgage lenders in the U.S. The company offers various options for Tulsa customers, including conventional, government-backed, jumbo and custom-term loans. You can also refinance with Quicken Loans to get cash, lower your payment or pay off your loan faster. Apply online or call to speak with a Home Loan Expert for an analysis of costs, rates and benefits.
Rocket Mortgage is an online lending process developed by Quicken Loans to streamline getting a loan. Once you input some information, the service generates a corresponding loan offer. Then, you can continue with Rocket Mortgage through closing. Loans are available for both home purchases and refinancing. Applying through Rocket Mortgage is free, but there may be a minor effect on your credit.
AmeriSave has mortgage loans for buying a new home in Tulsa or refinancing your existing one. The company doesn't have any prepayment penalties. Online reviewers report that it's easy to fill out and submit all your mortgage loan paperwork online, and they say the loan officers at AmeriSave are friendly and helpful.
ZFG Mortgage is a Tulsa-based mortgage company that offers conventional loans, jumbo loans, FHA loans and USDA loans so you can buy a new home or refinance your house. They also have construction loans and second mortgages. Online reviewers say the company makes the home buying process as easy as possible.
Midtown Mortgage has conventional mortgage loans, FHA loans, VA loans, USDA loans and HUD 184 loans for buying a new home or refinancing your house. Online reviewers praise the company for making the whole process simple, and several people said that Midtown Mortgage approved them when other mortgage lenders turned them down.
AMC Mortgage has offices in Tulsa, Owasso, Edmond, Norman and Grove, so they might be a good choice if you're moving from one metro-area to another. In online reviews, customers report that the mortgage company has great customer service and made the mortgage process simple.
Total Lending Concepts
Total Lending Concepts has locations in several states and one office in Tulsa. In online reviews, previous borrowers say the company is great at communicating with customers and responding to questions quickly. The mortgage lender offers conventional home loans, jumbo loans and FHA loans for refinancing or buying a home.
1st Capital Mortgage
You can get conventional loan, jumbo loan, USDA loan and FHA loan mortgages from 1st Capital Mortgage. The lender also offers refinancing. Online reviewers say that the employees at 1st Capital are helpful and knowledgeable. Some borrowers even reported 1st Capital employees' knowledge saved the day when problems occurred.
First Mortgage Company
First Mortgage Company is a national company that has four offices in the Tulsa area. The company has conventional loans, FHA loans, VA loans and jumbo loans and participates in the HUD 184 program. In online reviews, people say that First Mortgage Company helped them at every stage of the home buying process.
Advantage One Mortgage
Advantage One Mortgage is a Tulsa-based company that has several types of mortgage loans for buying or refinancing a home. You can get fixed or adjustable rate mortgages from the company or get one where you prepay some interest so you can get a bigger loan. They have positive online reviews.
ConsumerAffairs content is intended to be used for general information purposes only. Before you make any investment, it is very important to do your own analysis based on your own personal circumstances and consult with your own investment, financial, tax and legal advisors.