www.zfgmortgage.com
918-459-6530 & 1-877-205-7266
THERE HAS NEVER BEEN A BETTER TIME TO BUY…AND IT JUST KEEPS GETTING BETTER.
(The home must be closed between April 9th, 2008 and July 1st, 2009).
February 15th 2009 Update
First-time buyers get $8,000 tax credit in stimulus bill:
Although many prospective home buyers had hoped for a $15,000 tax credit to buy a new home (as promised by the Senate), the $8,000 tax credit for new home buyers provided in the newest stimulus bill is unprecedented and incredible. A proposed $35 billion credit to support first time buyer home sales was jettisoned in favor of a more conservative $2 – $3 billion provision.
The proposal eliminates the repayment requirement in an existing tax credit for first-time home buyers, and raises the credit to $8,000 from $7,500. Essentially the Federal Government is giving $7,500 to $8,000 to first time home buyers to help stimulate the economy.
Clarification about the 2009 $8,000 first time home buyer tax credit:
- This is not a deduction, it is an actual $8000 reduction on your next tax bill.
- This bill was designed to help motivate renters (that have been sitting on the fence about home ownership) to become first-time home buyers for the greater good (benefit) of the United States economy (and not the apartment industry).
- The credit program is designed to cover qualifying home purchases between April 9, 2008 and April 1, 2009.
- Some of the details we are waiting for include income restrictions and possible re-payment plans.
To qualify, you must satisfy these conditions:
- The home much be purchased as a primary residence (you cannot buy your first home for the purposes of renting your new property to Cousin Eddie).
- You must not have owned a primary residence in the last three years.
- For couples, both individuals must not have owned a primary residence in the last three years.
- Vacation homes and rental properties don’t affect this (you aren’t disqualified if you have a vacation home or rental property).
- Must not be a non-resident alien as defined by the IRS in Publication 519.
- Individuals must have a modified adjusted gross income of less than $75,000 annually and couples MAGI of less than $150,000 to qualify for the full amount.
- The home must be closed between April 9th, 2008 and July 1st, 2009.
- The Bill does not provide mention of a credit score or history requirement (but more-than-likely you will need at least a 580 credit score or above).
How the “tax credit” works:
- The tax credit is 10% of the home’s sale price with a maximum of $7500.
- You must claim the credit on taxes filed in 2008 or 2009.
- It’s a credit and not a deduction (difference between tax credit and tax deduction).
- “Tax credit” is a misnomer because it’s really a zero percent loan with some qualifications.
What else in the Bill is “for business”:
Most economists feel as though the massive government spending outlined in this most recent “economic stimulus plan” will have only modest results for the economy as a whole, but here are the quick highlights of the governments most recent attempts to artificially create growth by reducing rates, and printing money:
- Companies that build bridges, make concrete, manufacture wind turbines and assemble backhoes for construction will benefit greatly from this $150 billion of new infrastructure spending under the stimulus.
- The package alots $50 billion for energy efficiency and renewable-energy programs.
- Large hospices will receive $134 million — from cuts in what Medicare pays them to care for dying patients.
- The nucleur energy industry will receive around $50 billion worth of federal loan guarantees for technologies that use little or no carbon.
- The defeense industry – The bill provides billion dollars for construction at military facilities.
- Home buyers credit – 10 percent of the value of a home, up to $8,000 was estimated to cost the government $6.6 billion and was allocated in this bill. This provision was designed to help home builders who have witnessed their worst year in new home sales since 1982 (Eye of the Tiger was the #1 Hit That Year).
To help our great customers to connect to our incredible products and services call ZFG mortgage today at:
www.zfgmortgage.com
918-459-6530 & 1-877-205-7266
$8000 tax credit tulsa, 8000 tax credit tulsa, 8000 tax credit in tulsa, $8000 tax credit in tulsa, $8000 government stimulus check, $8000 government stimulus checking, tulsa home loans, tulsa home loan, home loans tulsa, home loan tulsa, home loans in tulsa area, tulsa new home loans, tulsa new home loan, tulsa mortgage banks, tulsa mortgage banker, tulsa mortgage banks, mortgage bank tulsa, mortgage banks in tulsa, mortgage lenders in tulsa, mortage lender in tulsa, mortgage lender tulsa, mortgage lenders tulsa, tulsa mortgage lending company, mortgage lending company tulsa, tulsa mortgage businesses, tulsa mortgage business, tulsa mortgage businesses, tulsa mortgage business, new homes in tulsa, new home tulsa, new home in tulsa, tulsa realtors, tulsa realtor, tulsa real estate, real estate tulsa, tulsa mortgage companies, tulsa mortage company, mortgage company in tulsa, mortgage company tulsa, tulsa mortgage lending institutions, tulsa mortgage lending institution, tulsa sba loan, sba loan tulsa, sba loans in tulsa, sba loans tulsa, tulsa business loans, tulsa business loan, tulsa business consulting, tulsa business consulting, business consulting tulsa, business consulting in tulsa, tulsa mortgage businesses, tulsa mortgage rates, mortage rates tulsa, mortage rates in tulsa, mortage lender in the tulsa area, mortgage lenders in the tulsa area, Locate Tulsa mortgage companies, brokers and lenders, Tulsa mortgage service details and contact information, creek county mortgage lenders, Creek County Mortgage Lenders, Rogers County Mortgage Lenders
East Tulsa Mortgage Lenders, South Central Tulsa Mortgage Lenders, Midtown Tulsa Mortgage Lenders South Tulsa Mortgage Lenders, Muskogee County Mortgage Lenders, zfg Mortgage Quotes, zfg And Real Estate, Southeast Tulsa Mortgage Lenders , North Central Tulsa Mortgage Lenders, Southwest Tulsa Mortgage Lenders, Northeast Tulsa Mortgage Lenders Tulsa CBD Mortgage Lenders, Northwest Tulsa Mortgage Lenders, Wagoner County Mortgage Lenders, Osage County Mortgage Lenders, Washington County Mortgage Lenders, Pawnee County Mortgage Lenders, West Tulsa Mortgage Lenders, find available tulsa mortgage lenders, find available mortgage lender in tulsa, zfg Tulsa Mortgage and Real Estate Facts Overview House, apartments, government stimulus, government stimulus bail-out, ZFG mortgage specializes in connecting tulsa area buyers to real estate broker types, tulsa office space broker, tulsa commercial land brokers, tulsa industrial real estate brokers, tulsa retail space brokers, tulsa business sale broker, Search home listings in Tulsa, zfg is your mortgage quoter, zfg mortgage calculator, zfg mls listings Tulsa, zeshu financial realtors in Oklahoma, Tulsa low adjustable rate mortgages, mortgage interest rate 30 year fixed refinance, homes for sale in Tulsa Oklahoma, home mortgage lender, home mortgage lenders, zfg 100% financing home loans Oklahoma, zfg Oklahoma balloon mortgages, zfg Tulsa Apartments, zfg mortgage is tulsa’s elite mortgage business, mortgage businesses in tulsa, mortgage business tulsa, mortgage business lenders, mortage information tulsa, mortgage information tulsa, tulsa mortgage related information, tulsa mortgage companies working to better serve you, refinance your loan now tulsa, refinance loan tulsa, tulsa apartment guide, apartment guide tulsa, there has never been a better time buy, Tulsa Apartments, Mortgage Quotes, And Real Estate, yahoo mortgage, mortgage yahoo, Tulsa, OK mortgage rates – use Yahoo! Real Estate to search for Tulsa mortgages by loan amount, credit rating, loan purpose, and loan type in order to find the best mortgage in Tulsa. Our Tulsa mortgage rates page shows Tulsa mortgage trends as well as today’s rates, Whether you are looking for a purchase mortgage, or a new boat loan, ZFG mortage is your company of choice, ZFG finished 3rd in our inner-office pole about which company makes the best in town chili at chili bowl competition, zfg mortgage lords, mortgage lords of zfg, the darth vader of the mortgage business, mortgage business of darth vader, consulting provided by clay clark sba entrepreneur of the year, consulting provided by sba entrepreneur of the year, a Tulsa home equity loan, or to refinance, Yahoo! Real Estate can help, If you would like to take a second to view and sort mortgage results by the Tulsa mortgage company of choice for the northern hemisphere, Located in tulsa’s estimated payment rage and interest rate, APR, and more, zfg mortgage of tulsa is the best company that helps in the finding the perfect of the Tulsa home loan, visit our Tulsa real estate page and information today, research all of your real estate needs, fha tulsa mortgages, rd loans in owasso, rd loans broken arrow, broken arrow tulsa loans, parade of homes tulsa, parade of home tulsa, tulsa parade of homes, adjustable rate mortgage tulsa, adjustable rate mortgages tulsa, adjustable rate mortgages in tulsa, usda loans in tulsa, usda tulsa, usda of tulsa, Real Estate is available in tulsa call today to compare Tulsa mortgage rates from a variety of multiple lenders to get the best Tulsa mortgage rates in the area. At ZFG mortgage we can Sort by loan type, payment, interest rates, body weight, head size, Tulsa, OK mortgage rates – use Yahoo! Real Estate to search for Tulsa mortgages by loan amount, credit rating, loan purpose, and loan type in order to find the best mortgage in Tulsa. Our Tulsa mortgage rates page shows Tulsa mortgage trends as well as today’s rates. Whether looking for a purchase mortgage, a Tulsa home equity loan, or to refinance, Yahoo! Real Estate can help. View and sort mortgage results by Tulsa mortgage company, estimated payment, interest rate, APR, and more. After finding the perfect Tulsa home loan, visit our Tulsa real estate page to research all of your real estate needs, tulsa realtor, realtors tulsa, realtors in tulsa, realtor in tulsa, mortgage realtors in tulsa, tulsa custom homes, custom homes tulsa, oklahoma custom home tulsa, oklahoma tulsa financial services classified, oklahoma classified financial services, mortgages for tulsa real estate services, zfg mortgage service classifieds, want ads, Even if you have bad credit and have to pay somewhat higher interest rates, mortgage refinancing will still cost less than other forms of borrowing because the loan is secured by your home. .
Your FICO score is computed and tracked by the three major credit bureaus: Trans Union, Equifax and Experian. Your score is updated quarterly and is negatively affected by such things as: late or missed loan payments, filing for bankruptcy, having too much debt compared to your income, and credit card balances being too close to their limits.
Fixing Bad Credit:
If you are a homeowner and you are looking into mortgage refinancing then you are on the right track toward improving your financial situation. However we have put together the following list of financial future improvement ideas to help you even further on the journey to becoming financially debt free and eventually financial independent. Credit card discipline is very important. There are no wealthy people with large credit card debts. Thus, you must work diligently to reduce the number of cards that you are using on a daily basis. And if you use the money wisely, you can get out of credit trouble and raise your FICO score. This will qualify you for better rates in the future
Top Cities for real estate. ZFG mortage is the expert for the following localities and lending areas:
| Angola real estate | Atlanta real estate | Austin real estate | Dubail real estate | Florida real estate is great | Michigan real estate | Incan real estate | Zoro owns real estate | Chicago real estate | Colorado real estate | Denver real estate | Houston real estate | Las Vegas real estate | Minneapolis real estate | eskimo real estate | Samoan real estate | Myrtle Beach real estate
tropical real estate | floridian real estate | organic real estate | false real estate | Orlando real estate | New England real estate | Terrell Owens owns real estate | Phoenix real estate | Tulsa real estate | San Antonio real estate | Southern Madagascar real estate | Greek real estate San Diego real estate | Toronto is in the house | New York is in the house | LA is in the house | old dirt dog is in the house | hey Mariah we go back like babies and pacifiers | San Francisco real estate | Chicago is a glorious city | Seattle real estate | Tucson real estate
Top States:
Virginia Georgia | Hawaii | Illinois | Indiana | Maryland | Massachusetts Minnesota | Missouri | Nevada | New Jersey | Pennsylvania | Tennessee | Washington | Wisconsin | Michigan |
| New York | North Carolina | Ohio | Oklahoma | Oregon | South Carolina | Texas | Utah
Related Yahoo! Services:
Tulsa City Guide – Tulsa Jobs – Personal Financial Advice
Help us improve Yahoo! Real Estate – Send Your Feedback – Partner with Yahoo! Real Estate
ZFG mortgage helps you gain extra cash and lock in a fixed payment today. If you want to lower your payment and increase your positive cash flow today by paying off high interest debt you need to call ZFG mortgage. ZFG mortgage offers options that are generally available to anywhere else in the financial market place. Zeshu Financial is the most reasonable and honest refinancing company in Tulsa. ZFG Mortgage Tulsa is tailored to fit your specific lending needs with our customized lending options now available through our wholesale credit, affiliate credit and coorespondant lines of credit (including Countrywide, Bank of America, Chase, Wells Fargo, and many other leading financial institutions).
When refinancing your home loan it is important that you fully understand the long-term financial benefits and potential ramifications of each financial decision that you make today. Call ZFG Mortgage Tulsa to speak to one of our expert mortgage lending experts today.
Refinancing has never been easier and rates have never been lower, thus call ZFG Mortgage today at 918-459-6530.
www.zfgmortgage.com
ZFG Mortgages: Financing your home purchase
Buying a home is a large financial commitment and for many it’s their biggest investment. Research tells us that the average home buyer lives in the home they purchase for about five to seven years. Therefore, serious consideration should be given to mortgage arrangements so that you’re sure you’re committing to the best financial terms available.
Fixed Rate Mortgages are usually the most desirable type of loan. The reason for this is that the interest rate is set at the time of origination and remains the same for the entire length of the mortgage. Changes in the economy will not affect the amount of your monthly payment for the full term of the loan. The most common term is 30 years, but some banks and lending institutions also offer 10, 15, 20 and even 40 year mortgages.
Another type of loan is the Adjustable Rate Mortgage or ARM which has become more popular over the past few years. The initial monthly payments are lower than a fixed rate loan but can adjust after a period of time. That initial period usually lasts anywhere from 6 months to 5 years. After that period the monthly payments and the rate of interest are regularly adjusted based upon the interest rates of the market. It is therefore important for borrowers committing to an ARM to be sure they understand the exact terms for which they are liable. Adjustable rate mortgage loans have earned a bad reputation in recent times due to lenders using them to get people into houses they could not afford. There are some legitimate reasons to use an ARM. Perhaps you know up front that you will only be in a property for 3 years before a job transfer will take you to a new city. You might opt for an ARM with a lower payment for the first three years since you will be selling after that. In that case a 30 year fixed rate loan may not make as much sense.
Our mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home’s sale price, the term of the loan desired, buyer’s down payment percentage, and the loan’s interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Contact an Agent!
Contact a ZFG Mortgages Agent today!
Buying a home is a large financial commitment and for many it’s their biggest investment. Research tells us that the average home buyer lives in the home they purchase for about five to seven years. Therefore, serious consideration should be given to mortgage arrangements so that you’re sure you’re committing to the best financial terms available.
Fixed Rate Mortgages are usually the most desirable type of loan and for many years were the most common kind of Tulsa mortgage. The reason for this is that the interest rate is set at the time of origination and remains the same for the entire length of the mortgage. Changes in the economy will not affect the amount of your monthly payment for the full term of the loan. The most common term is 30 years, but some banks and lending institutions also offer 10, 15, 20 and even 40 year mortgages.
Another type of loan is the Adjustable Rate Mortgage or ARM which has become more popular over the past few years. The initial monthly payments are lower than a fixed rate loan but can adjust after a period of time. That initial period usually lasts anywhere from 6 months to 5 years. After that period the monthly payments and the rate of interest are regularly adjusted based upon the interest rates of the market. It is therefore important for borrowers committing to an ARM to be sure they understand the exact terms for which they are liable. Adjustable rate mortgage loans have earned a bad reputation in recent times due to lenders using them to get people into houses they could not afford. There are some legitimate reasons to use an ARM. Perhaps you know up front that you will only be in a property for 3 years before a job transfer will take you to a new city. You might opt for an ARM with a lower payment for the first three years since you will be selling after that. In that case a 30 year fixed rate loan may not make as much sense.
The Right Team…
New Home Mortgages, Refinancing, Home Equity Loans
Significant life milestones such as buying a home, refinancing a mortgage, or even tapping into your home equity are important decisions, requiring much consideration on your part. Team McClellan understands the serious commitment such decisions include, and what is often considered to be a monumental undertaking, fraught with frustration and concern.
You can rest assured that with our agents working closely with you every step of the way, you will walk away from the process with a better understanding of all the ins-and-outs of the intricacies involved in this process, and with a sense of comfort knowing that you are trusting your most important decisions to caring, dedicated pros who have put decades of experience with thousands of every type of real estate and mortgage transaction into ensuring your best interests and knowledge and comfort throughout the process.
Our goal is to assist our clients in thoroughly educating themselves about the changing market and real estate climate, so that you may better help yourself when it comes time to make important decisions about mortgage transactions. The ever-changing mortgage and real estate market is an exciting opportunity for education; therefore, we continually offer numerous opportunities for you to become an educated consumer, in every sense of the word.
It’s not just your mortgage; it’s your life, and we believe that you deserve as much information as possible when making critical decisions. We believe in making clients for life, and making sure that those important life milestones are transacted in a well-educated and thought out manner.
Welcome to ZFG Mortgages! Online Mortgage Quotes and Rates
* Lock in low home equity rates
* Current Tulsa Home Equity Loan rates
* Up to 80% of your equity
* Less than perfect credit
Apply Now – Home Equity Loan
Debt Consolidation
* Borrow up to 80% of your home’s value
* Lower your monthly payments
Apply Now – Debt Consolidation Loan
Home Purchase
* Dedicated ZFG loan consultants
* No hassle loan process
Apply Now – Tulsa Home Loan
Tulsa Refinance
* Lock in a low rate
* Refinance up to 80% of your equity
* Lower your home loan payment
* More on Tulsa Mortgage Refinance
ZFG Mortgages covers all of the greater Tulsa area,
With ZFG Mortgages you get low rates and fees through a technology and large mortgage broker company network. We employ experienced and knowledgeable mortgage bankers, trained to offer expert advice and excellent customer service. All loans are originated, underwritten, and processed. Our customers can feel comfortable knowing their loan officer will be involved throughout the entire process. We use the most advanced technology available to close loans quickly, at a low cost. By combining the use of the Internet along with advanced processing software and automated underwriting systems we have taken all of the guess work out of finding the perfect match for your Tulsa mortgage loan needs.
ZFG Mortgages are now fast and easy. Let ZFG Mortgages help simplify your Tulsa mortgage loan process and find the right lender for your specific lending needs. With an automated loan application process we are able to match our customers to lenders that best fit their financing needs.
Whether you are actively or passively searching for Tulsa property, make sure to take a look at their premium MLS search of Homes for sale in Tulsa, Oklahoma and surrounding areas.
Please contact one of our friendly mortgage brokers today for free home loan consultation. Call us or visit us online today!
debt free and prosperous living, debt free living, debt, mortgages commercial, free checking bank, fha mortgage loan rate, commercial lenders, lowest mortgage rate, stock trading online, debt loan consolidation, primary residential mortgage inc., residential investment property, mortgage, bank mortgage rate, equity mortgage, reduce mortgage, refinance mortgage rates, hud, home mortgage refinance, remortgage rates, fha mortgage loans, federal government employees housing foundation, mortgage insurance leads, fha loan rates, refinancing, home equity refinance, fha loan mortgage refinance, amortization schedule, refinance a home, low refinance rate, stated income mortgage loans, Low rate refinance, tulsa, home rate refinance, fixed loan, closing cost estimates, best loan rate
first time home buyers programs, calculate closing costs, mortgages fixed rates, lowrate, 15 year mortgage, home owner loans, low home mortgage, 40000 loan, mortgage, refinance calculators, home loan, equity, mortgage rate, home equity loans pros and cons, loans interest rates, refinancing a home, mortgage loan refinance, equity lines, option arm rate, fixed mortgage, real estate investment loans, home equity loans, refinance mortgage rates, mortgage company, preapproved mortgage, fixed rate mortgage deals, Mortgage Loan Quotes, internet mortgage companies, loan mortgages, Market Statistics, New Listings, Tulsa News, General Real Estate, Tulsa Area Info, Listings, Buyers, Sellers, Search Homes, Buying, Selling, Tulsa Real Estate Blog, Downtown Condos, New Homes in Tulsa, Tulsa Zip Codes, Market Info, Mortgages, Mortgage Calculator, Local Tulsa Real Estate, Tulsa Local Realtors, Tulsa Home Loans, Home Equity, Debt Consolidation, New Home Purchase, Refinance, Tulsa Lenders
Articles for your interest:
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20090403_46_E2_Rateso993956
Mortgage rates hit record low
The interest on a 30-year fixed note falls to 4.78 percent.
Rates on 30-year mortgages fell to their lowest on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
The mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week.
It was the lowest in the history of Freddie Mac’s survey, which dates to 1971. Rates are down by more than a full percentage point from a year ago.
“Mortgage rates followed other interest rates lower this week amid reports of slower economic growth” said Frank Nothaft, Freddie Mac’s vice president and chief economist.
Rates vary at Tulsa-area lenders. BOk Mortgage President Ben Cowen said the lender’s 30-year, fixed-rate mortgages were going for 4.78 percent.
Because rates have been low for some weeks, demand for new mortgages is picking up at his office, he added.
Low rates have sparked a surge in refinancing. The Mortgage Bankers Association said Wednesday that its weekly application index climbed 3 percent for the week ending March 27, on top of a 30 percent increase a week earlier. Nearly 80 percent of applications came from borrowers seeking to refinance.
Mortgage rates fell dramatically over the winter and have fallen further after the Federal Reserve said last month it would buy $1.2 trillion in mortgage-backed securities and $300 billion in long-term government debt, which traditionally influences rates on
30-year home loans.
Lenders, however, have tightened their standards dramatically over the past year, so the best rates are available to those with solid credit.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed-rate mortgage dropped to 4.52 percent this week, from 4.58 percent last week, according to Freddie Mac.
Rates on five-year, adjustable-rate mortgages fell to 4.92 percent, compared with 4.96 percent last week. Rates on one-year, adjustable-rate mortgages fell to 4.75 percent, from 4.85 percent.
The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for all mortgages in Freddie Mac’s survey except for one-year adjustable mortgages, which had an average fee of 0.6 point.
http://www.journalrecord.com/article.cfm?recid=97400
Capital Assets pays $27.98M for four Tulsa apartment complexes
by Kirby Lee Davis
The Journal Record April 3, 2009
TULSA – Capital Assets paid $27.98 million for four Tulsa apartment complexes, with plans to spend $3.1 million renovating the Class B properties.
Adding those 984 units brings the company to 5,043 under management in Tulsa and Oklahoma City, eclipsing the mark Vice President Greg Wright targeted two years ago for optimum critical mass. But with the national recession and continued tight credit making mortgage refinancing far more difficult, president Royce Wright anticipates closing more bargain deals this year on potential distressed properties.
This one involved a two-month deadline that heightened the suspense, said Tooman Partners Principal Gary B. Krisman, who with Royce Wright represented Capital Assets in the deal.
“It was a miracle we got this one pulled off,” said Greg Wright. “We had four different properties that all had to close at the same time. To really do it in 60 days is phenomenal.”
The deal involves three 1970s-era properties and one built in 1982, their occupancies generally trailing the 93 percent averaged by others in the Capital Asset portfolio.
“We feel like these fit in rather nicely,” he said of the portfolio mix. “We will have property all across Tulsa, east, central and south.”
Under the name Sand Dollar on the River Apartments, Tulsa-based Capital Assets paid $7.47 million for the 10.3-acre Sand Dollar on the River complex, 910 E. 61st St. The firm will invest $1 million, adding fitness and business centers, upgrading the office, installing washer and dryers in some units, restoring some offline units and making overall cosmetic improvements.
The 27-year-old Sand Dollar gives Capital Assets a Riverside Drive product with great views of the Arkansas River. It also boasts an entryway pond and other water features.
“We see Sand Dollar as a property you can really reposition in the market,” said Greg Wright, their renovations intended to boost its occupancy rate above the low 80s level.
Apart from its 64 two-bedroom units at $568 a month, Sand Dollar’s 328 units target one-bedroom or studio customers, their rents ranging from $359 to $459.
As Tulsa Four Hunters Creek LLC, Capital Assets paid $6.9 million for the 25.2-acre Hunters Creek Apartments and Duplexes, 1563 S. 79th East Ave. Capital Assets intends to spend $600,000 sprucing up the trim, woodwork and paint while adding a business center.
Opened in 1972, almost half of the 206 Hunters Creek units offer three bedrooms and two baths at $699 a month. Another 44 represent two-bedroom floor plans, their monthly rents ranging from $539 to $569.
“It’s just a beautiful setting, with a meandering creek that runs through the property,” Royce Wright said of the low-90s occupancy site. “It’s got these arbors with flowering vines. … It’s just lovely.”
Under the name Tulsa Four Lakewood Park LLC, the Wrights spent $4.56 million for the 6.27-acre Lakewood Park Apartments, 3625 S. Lakewood Ave. The firm allotted $400,000 to freshen up the complex, adding a fitness center while sprucing up the office and business center.
Greg Wright said Lakewood’s location makes that it attractive, sitting just behind Bishop Kelley High School, along Tulsa’s 41st Street retail corridor.
Like Sand Dollar, that 224-unit property focuses predominantly on one-bedroom units, now offered at $404 a month. The 93-percent occupied complex provides 56 two-bedroom units at $514 a month.
Capital Assets, as Tulsa Four Arbors LLC, paid $3.99 million for the Arbors of Southern Hills, an 11.9-acre complex at 6630 S. Zunis Ave. The Wrights will pour $1.1 million into that 1972 complex near Oral Roberts University, returning some units to service, improving the fitness center, business center and office, and touching up the wood and paint.
With occupancy rates in the 70-percent range, the Arbors offers 120 two-bedroom apartments at $622 a month, 88 one-bedroom units at $422, and 18 three-bedroom units at $725.
The seller of all four properties was nonprofit multifamily investor NVHF, owning these properties under the names Hunters Creek Properties LLC, Sand Dollar on the River LLC, Arbors of Southern Hills Properties LLC, and Lakewood Park Properties LLC. An affiliate of NVHF also had invested in the Cambridge Landing Apartments in Oklahoma City.
To finance the purchase of Hunters Creek and Lakewood Park, Capital Assets worked with Evans Rector with Power One Financial, Todd McNeill with Metropolitan Capital Advisors, and Alliant Capital LLC.
For Sand Dollar and the Arbors, the Wrights used Rector and SpiritBank.
‘The most stressful three hours’
Balancing financing through several different lenders against the seller’s rigid closing deadline caused tremendous challenges, said Krisman.
“On Jan. 15, we had a verbal agreement,” said Greg Wright. “It wasn’t until Feb. 1 that we got a written copy of the contract. And we had to close it by March 31.”
A technical snafu heightened the pressure for Hendricks and Partners broker Aaron Hargrove, who with Tim McKay and John Clayton had offered the deal to Capital Assets.
“We had a hard date that it had to be closed by or the deal was off,” he said. “We were putting all our eggs in one basket. We had to be very confident that we had picked the right buyer.
“Literally we had a 12 o’clock Central Standard Time wire deadline on Tuesday the 31st,” said Hargrove. “I literally was on the phone between 9:40 and 12:15 constantly, on probably 100 different phone calls, and receiving last-minute signature page faxes. Now, our fax machine, anytime I receive a fax, comes straight into my Inbox on Outlook. At 11:30 we’re waiting for the last signatures to come in and our national server goes down.
“I’m not kidding,” he stressed. “People were freaking out.
“I knew it would get done,” he said. “I never was sweating it wouldn’t get done, but I was sweating taking calls from the buyer and seller and closing agent that it wouldn’t get done.
“It was the most stressful three hours I’ve ever been a part of in a business transaction,” said Hargrove. “It was exciting.”
Welcome to ZFG Mortgages home
Thanks for visiting us.
We specialize in creating a stress-free experience for people wishing to buy a home in Tulsa or refinancing the one they have.
We do so by offering individualized advice and by looking at your specific financial situation and goals.
By doing so, we can get you the best home loan available for you.
Please take your time to look at our site and read some of the dozens of articles we have prepared for you. These articles cover all aspects of getting a Tulsa home mortgage.
If you have any questions, please don’t hesitate to get in touch with us. We are here to serve you and guide you in every way we can.
Company Profile
ZFG Mortgages has built a well-deserved reputation in the Tulsa area, founded upon innovation, fairness and an acute business sense.
What makes our Company superior is our people-oriented organization. We pride ourselves on personal contact and our dedication, providing up-to-the minute information and advice to our borrowers.
Today’s lending industry is a highly competitive and ever changing market. We recognize that borrowers need immediate direction and guidance. Our experienced team of skilled Loan Officers act with speed and efficiency, instantly gaining their trust and confidence. We know where to go, who to see, and how to eliminate the obstacles that cause frustration and disappointment in financing transactions.
We provide mortgage programs to suit our diverse and varied market; handle all negotiations with the highest level of quality control, personal attention, and operate as a team of highly committed, principled, and motivated professionals.
Since its inception, ZFG Mortgages has consistently and persistently endeavored to conduct business on one essential principal: this organization carries in every transaction the assurance of thorough understanding, absolute integrity and the utmost of service.
We welcome your inquiries and E-mails.
Here are some articles that may be of your interest:
Home, Introduction, Company Profile, Financing Tips, Residential Programs, Commercial Programs, Rates, Financial Calculators, Residential Application, Commercial Application, Homes by Owner, Career Opportunities, Loan Officers, 2nd mortgage rates, apply for payday loan, investment mortgage, mortgage lender services, money market rates, equity lines, equity loans calculator, low interest refinance, home improvement loan, mortgage home refinance, today’s prime interest rate, equity home loans, best rate home loan, first time buyer ho
Zeshu Financial: Your Tulsa Mortgage & Lending Resource 