The Broken Arrow housing market is characterized by steady growth, with a mix of new construction and existing homes available. The median home price is around $243,000, with homes typically staying on the market for around 30 days. As a borrower, it's essential to understand the local market conditions and trends to make informed decisions about your mortgage.

NMHL's local expertise and market knowledge can help you navigate the Broken Arrow real estate market with confidence. We can provide you with insights into the local neighborhoods, including the popular areas like Rose District, Country Club Heights, and Vintage Lakes.

If you're a first-time homebuyer in Broken Arrow, you'll be pleased to know that there are several programs available to help you achieve your goal. The Oklahoma Housing Finance Agency (OHFA) offers a range of programs, including down payment assistance and competitive interest rates. NMHL is an approved lender for OHFA programs, and we can help you explore these options.

• OHFA Down Payment Assistance Program: provides up to 4% of the home's purchase price towards down payment and closing costs
• OHFA First-Time Homebuyer Program: offers competitive interest rates and lower mortgage insurance premiums

Our mortgage specialists can guide you through the application process and help you determine the best program for your situation.

At NMHL, we're committed to helping underserved borrowers, including those with bad credit, self-employed individuals, and veterans. Our specialty loan programs are designed to provide more flexible underwriting and competitive rates.

Our Bad Credit Mortgage program allows credit scores as low as 580, with a 3.5% down payment requirement. We also offer VA loans for eligible veterans, with competitive rates and lower fees. For self-employed borrowers, we offer alternative income documentation options to help you qualify for a mortgage.

Broken Arrow is a diverse city with a range of neighborhoods to suit different lifestyles and preferences. Some popular areas to consider include:

• Rose District: a vibrant, up-and-coming neighborhood with a mix of new construction and renovated homes
• Country Club Heights: a family-friendly neighborhood with tree-lined streets and a strong sense of community
• Vintage Lakes: a master-planned community with a mix of single-family homes and townhomes

Our mortgage specialists are familiar with these neighborhoods and can provide you with insights into the local market conditions and trends.

As a homeowner in Broken Arrow, you'll need to factor property taxes and insurance into your mortgage calculations. The average property tax rate in Broken Arrow is 0.87%, which is relatively low compared to other parts of the country. Homeowners insurance rates vary depending on factors like the home's value, location, and condition.

Our mortgage specialists can help you understand the property tax and insurance implications of your mortgage and provide guidance on how to factor these costs into your budget.