Ardmore FHA Loan Rates, Closing Costs & Stats

Ardmore, OK

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Ardmore's 40 lenders originated 175 FHA loans during 2023. The total origination value was $32,705,000, with an average FHA loan value of $186,886.

    Ardmore FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ardmore averaged 6.7% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Ardmore's average FHA mortgage closing costs are $6,646.

    The average rate for the prior week (2025-02-07) was 6.51% and one month ago for the week of 2025-01-10, the average rate was 6.77%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.62%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Ardmore FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Ardmore level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ASSOCIATED MORTGAGE CORPORATION 20 6.67% $9,990
    QUICKEN LOANS, LLC 15 6.46% $11,325
    NEWREZ LLC 12 6.83% $6,638
    Chickasaw Community Bank 11 6.83% $8,072
    First United Bank and Trust Company 11 7.23% $8,972
    Gateway First Bank 8 6.92% $8,499
    PLAZA HOME MORTGAGE, INC. 6 6.23% $11,045
    GUILD MORTGAGE COMPANY 6 7.00% $8,518
    TOWNE MORTGAGE COMPANY 6 7.31% $7,618
    Mortgage Research Center, LLC 4 6.66% $5,959
    LOANDEPOT.COM, LLC 4 5.75% $12,460
    MID AMERICA MORTGAGE, INC. 4 6.72% $3,490
    FREEDOM MORTGAGE CORPORATION 3 6.75% $9,100
    PENNYMAC LOAN SERVICES, LLC 3 6.33% $8,357
    NATIONS DIRECT MORTGAGE, LLC 3 6.33% $9,523
    CROSSCOUNTRY MORTGAGE, LLC 3 6.75% $13,406
    UNITED WHOLESALE MORTGAGE, LLC 3 6.50% $11,306
    AmeriHome Mortgage Company, LLC 2 6.13% $8,891
    BancFirst 2 6.56% $6,558
    Carrington Mortgage Services, LLC 2 6.63% $16,392
    Flagstar Bank, FSB 2 7.19% $8,195
    F & M Bank 2 6.50% $8,745
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $15,191
    POLARIS HOME FUNDING CORP. 2 7.19% $11,367
    RESIDENTIAL BANCORP 2 6.75% $10,941
    M&T Bank 1 5.75% $8,265
    CARDINAL FINANCIAL 1 6.75% $8,845
    MYCUMORTGAGE, LLC 1 7.63% $10,990
    GUARANTEED RATE, INC. 1 7.75% $7,435
    FLAT BRANCH MORTGAGE, INC. 1 7.63% $4,233
    CORNERSTONE HOME LENDING, INC. 1 7.25% $10,552
    COMMUNICATION 1 7.13% $7,320
    United Fidelity Funding Corp. 1 7.63% $12,713
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $6,357
    CMG MORTGAGE, INC. 1 6.75% $7,326
    BROKER SOLUTIONS, INC. 1 6.25% $10,684
    THE MORTGAGE LINK, INC. 1 8.75% $7,261
    LOANPAL, LLC 1 6.38% $9,667
    Ixonia Bank 1 6.99% $7,683
    INTERLINC MORTGAGE SERVICES, LLC 1 7.12% $10,259

    The top Ardmore FHA lender as defined by loan originations is ASSOCIATED MORTGAGE CORPORATION, with 20 FHA loans originated. Their average total fees are $9,990, which is $1,335 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Ardmore FHA lenders (with over 10 loans originated) are NEWREZ LLC ($6,638), Chickasaw Community Bank ($8,072), First United Bank and Trust Company ($8,972), ASSOCIATED MORTGAGE CORPORATION ($9,990) and QUICKEN LOANS, LLC ($11,325).

    The lowest rate Ardmore FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.46%), ASSOCIATED MORTGAGE CORPORATION (6.67%), Chickasaw Community Bank (6.83%), NEWREZ LLC (6.83%) and First United Bank and Trust Company (7.23%).

    Ardmore FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ARDMORE, OK CARTER 2022 $420,680 $538,650 $651,050 $809,150
    ARDMORE, OK LOVE 2022 $420,680 $538,650 $651,050 $809,150
    ARDMORE, OK CARTER 2023 $472,030 $604,400 $730,525 $907,900
    ARDMORE, OK LOVE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ardmore (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $161,225 (-1.8%) $219,854 (0.4%) 0.00 283
    2018-02-01 $159,900 (-5.8%) $215,070 (-2.1%) 0.00 287
    2018-03-01 $165,000 (-5.7%) $209,169 (-5.3%) 0.00 284
    2018-04-01 $169,900 (0.0%) $217,257 (-1.3%) 0.00 275
    2018-05-01 $169,950 (-2.9%) $223,081 (-1.0%) 0.00 277
    2018-06-01 $169,900 (-4.5%) $224,770 (-3.0%) 0.00 270
    2018-07-01 $169,400 (-5.8%) $219,671 (-6.4%) 0.00 260
    2018-08-01 $169,575 (-5.1%) $218,265 (-6.0%) 0.00 248
    2018-09-01 $165,000 (-6.3%) $216,030 (-7.0%) 0.00 250
    2018-10-01 $164,950 (-2.9%) $212,328 (-7.5%) 0.00 241
    2018-11-01 $162,150 (-4.6%) $205,806 (-10.7%) 0.00 241
    2018-12-01 $159,900 (-8.6%) $202,591 (-12.0%) 0.00 243
    2019-01-01 $156,150 (-3.2%) $212,801 (-3.2%) 0.00 240
    2019-02-01 $152,450 (-4.7%) $223,325 (3.8%) 0.00 221
    2019-03-01 $154,936 (-6.1%) $225,564 (7.8%) 0.00 220
    2019-04-01 $154,861 (-8.9%) $228,877 (5.4%) 0.00 219
    2019-05-01 $155,375 (-8.6%) $222,258 (-0.4%) 0.00 232
    2019-06-01 $151,950 (-10.6%) $223,323 (-0.6%) 0.00 217
    2019-07-01 $153,750 (-9.2%) $223,957 (2.0%) 0.00 212
    2019-08-01 $163,950 (-3.3%) $239,170 (9.6%) 0.00 207
    2019-09-01 $170,025 (3.1%) $253,211 (17.2%) 0.00 198
    2019-10-01 $174,075 (5.5%) $265,325 (25.0%) 0.00 186
    2019-11-01 $164,400 (1.4%) $247,883 (20.4%) 0.00 188
    2019-12-01 $163,900 (2.5%) $242,439 (19.7%) 0.00 187
    2020-01-01 $171,075 (9.6%) $265,878 (24.9%) 0.00 161
    2020-02-01 $178,950 (17.4%) $268,005 (20.0%) 0.00 165
    2020-03-01 $172,700 (11.5%) $247,660 (9.8%) 0.00 166
    2020-04-01 $169,900 (9.7%) $254,407 (11.2%) 0.00 167
    2020-05-01 $189,000 (21.6%) $257,343 (15.8%) 0.00 159
    2020-06-01 $218,750 (44.0%) $276,694 (23.9%) 0.00 140
    2020-07-01 $222,200 (44.5%) $275,407 (23.0%) 0.00 134
    2020-08-01 $215,000 (31.1%) $264,241 (10.5%) 0.00 115
    2020-09-01 $172,475 (1.4%) $251,175 (-0.8%) 0.00 115
    2020-10-01 $154,900 (-11.0%) $265,597 (0.1%) 0.00 122
    2020-11-01 $135,725 (-17.4%) $229,403 (-7.5%) 0.00 108
    2020-12-01 $139,450 (-14.9%) $215,214 (-11.2%) 0.00 117
    2021-01-01 $132,000 (-22.8%) $211,806 (-20.3%) 0.00 109
    2021-02-01 $143,975 (-19.5%) $211,804 (-21.0%) 0.00 114
    2021-03-01 $145,000 (-16.0%) $227,191 (-8.3%) 0.00 101
    2021-04-01 $134,900 (-20.6%) $219,549 (-13.7%) 0.00 118
    2021-05-01 $165,000 (-12.7%) $245,288 (-4.7%) 0.00 117
    2021-06-01 $179,725 (-17.8%) $283,987 (2.6%) 0.00 127
    2021-07-01 $178,500 (-19.7%) $290,769 (5.6%) 0.00 116
    2021-08-01 $186,750 (-13.1%) $312,057 (18.1%) 0.00 112
    2021-09-01 $189,375 (9.8%) $368,517 (46.7%) 0.00 107
    2021-10-01 $185,000 (19.4%) $357,071 (34.4%) 0.00 117
    2021-11-01 $169,000 (24.5%) $391,103 (70.5%) 0.00 107
    2021-12-01 $185,100 (32.7%) $436,233 (102.7%) 0.00 83
    2022-01-01 $160,000 (21.2%) $411,325 (94.2%) 0.00 82
    2022-02-01 $159,500 (10.8%) $439,516 (107.5%) 0.00 80
    2022-03-01 $207,875 (43.4%) $492,365 (116.7%) 0.00 72
    2022-04-01 $168,000 (24.5%) $396,883 (80.8%) 0.00 75
    2022-05-01 $189,500 (14.9%) $347,790 (41.8%) 0.00 75
    2022-06-01 $196,625 (9.4%) $336,953 (18.7%) 0.00 92
    2022-07-01 $199,000 (11.5%) $345,555 (18.8%) 0.00 97
    2022-08-01 $189,500 (1.5%) $292,362 (-6.3%) 0.00 114
    2022-09-01 $189,000 (-0.2%) $311,447 (-15.5%) 0.00 114
    2022-10-01 $196,500 (6.2%) $287,388 (-19.5%) 0.00 124
    2022-11-01 $199,900 (18.3%) $259,714 (-33.6%) 0.00 133
    2022-12-01 $214,900 (16.1%) $272,511 (-37.5%) 0.00 130
    2023-01-01 $209,450 (30.9%) $291,371 (-29.2%) 0.00 109
    2023-02-01 $174,500 (9.4%) $313,670 (-28.6%) 0.00 106
    2023-03-01 $205,750 (-1.0%) $325,484 (-33.9%) 0.00 111
    2023-04-01 $229,450 (36.6%) $338,071 (-14.8%) 0.00 105
    2023-05-01 $222,725 (17.5%) $351,318 (1.0%) 0.00 100
    2023-06-01 $247,500 (25.9%) $368,508 (9.4%) 0.00 104
    2023-07-01 $234,000 (17.6%) $361,603 (4.6%) 0.00 99
    2023-08-01 $236,000 (24.5%) $335,959 (14.9%) 0.00 125
    2023-09-01 $230,000 (21.7%) $334,652 (7.5%) 0.00 145
    2023-10-01 $217,875 (10.9%) $332,143 (15.6%) 0.00 156
    2023-11-01 $212,375 (6.2%) $316,725 (22.0%) 0.00 154
    2023-12-01 $219,900 (2.3%) $330,925 (21.4%) 0.00 156
    2024-01-01 $218,675 (4.4%) $320,814 (10.1%) 0.00 166
    2024-02-01 $206,950 (18.6%) $312,753 (-0.3%) 0.00 167
    2024-03-01 $199,000 (-3.3%) $305,432 (-6.2%) 0.00 166
    2024-04-01 $225,000 (-1.9%) $306,525 (-9.3%) 0.00 179
    2024-05-01 $223,100 (0.2%) $302,975 (-13.8%) 0.00 207
    2024-06-01 $214,900 (-13.2%) $296,272 (-19.6%) 0.00 223
    2024-07-01 $212,950 (-9.0%) $301,387 (-16.7%) 0.00 241
    2024-08-01 $227,500 (-3.6%) $299,755 (-10.8%) 0.00 238
    2024-09-01 $229,875 (-0.1%) $292,738 (-12.5%) 0.00 255
    2024-10-01 $235,308 (8.0%) $291,874 (-12.1%) 0.00 232
    2024-11-01 $230,000 (8.3%) $276,784 (-12.6%) 0.00 228
    2024-12-01 $236,950 (7.8%) $292,625 (-11.6%) 0.00 213
    2025-01-01 $245,000 (12.0%) $302,230 (-5.8%) 0.00 196
    Ardmore's median listing price for 2025-01-01 was $245,000, a difference of $26,325 (12.0%) versus the prior year and $8,050 versus the prior month.

    Ardmore's median listing price comes in at 0% of the national average.

    Ardmore's average listing price for 2025-01-01 was $302,230, a difference of $-18,584 (-5.8%) versus the prior year and $9,605 versus the prior month.

    For the 2025-01-01 period, Ardmore had 196 MLS listings, a difference of -17 listings (-8%) versus the prior month and 30 listings (18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ardmore (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,797 sqft
    2018-02-01 0 days 1,790 sqft
    2018-03-01 0 days 1,810 sqft
    2018-04-01 0 days 1,861 sqft
    2018-05-01 0 days 1,814 sqft
    2018-06-01 0 days 1,849 sqft
    2018-07-01 0 days 1,876 sqft
    2018-08-01 0 days 1,874 sqft
    2018-09-01 0 days 1,856 sqft
    2018-10-01 0 days 1,806 sqft
    2018-11-01 0 days 1,759 sqft
    2018-12-01 0 days 1,748 sqft
    2019-01-01 0 days 1,752 sqft
    2019-02-01 0 days 1,770 sqft
    2019-03-01 0 days 1,757 sqft
    2019-04-01 0 days 1,745 sqft
    2019-05-01 0 days 1,745 sqft
    2019-06-01 0 days 1,745 sqft
    2019-07-01 0 days 1,782 sqft
    2019-08-01 0 days 1,811 sqft
    2019-09-01 0 days 1,829 sqft
    2019-10-01 0 days 1,864 sqft
    2019-11-01 0 days 1,816 sqft
    2019-12-01 0 days 1,740 sqft
    2020-01-01 0 days 1,765 sqft
    2020-02-01 0 days 1,912 sqft
    2020-03-01 0 days 1,832 sqft
    2020-04-01 0 days 1,934 sqft
    2020-05-01 0 days 2,003 sqft
    2020-06-01 0 days 2,061 sqft
    2020-07-01 0 days 2,095 sqft
    2020-08-01 0 days 2,064 sqft
    2020-09-01 0 days 1,725 sqft
    2020-10-01 0 days 1,725 sqft
    2020-11-01 0 days 1,569 sqft
    2020-12-01 0 days 1,611 sqft
    2021-01-01 0 days 1,616 sqft
    2021-02-01 0 days 1,588 sqft
    2021-03-01 0 days 1,617 sqft
    2021-04-01 0 days 1,587 sqft
    2021-05-01 0 days 1,685 sqft
    2021-06-01 0 days 1,756 sqft
    2021-07-01 0 days 1,732 sqft
    2021-08-01 0 days 1,804 sqft
    2021-09-01 0 days 1,789 sqft
    2021-10-01 0 days 1,779 sqft
    2021-11-01 0 days 1,728 sqft
    2021-12-01 0 days 1,789 sqft
    2022-01-01 0 days 1,728 sqft
    2022-02-01 0 days 1,660 sqft
    2022-03-01 0 days 1,822 sqft
    2022-04-01 0 days 1,805 sqft
    2022-05-01 0 days 1,682 sqft
    2022-06-01 0 days 1,614 sqft
    2022-07-01 0 days 1,620 sqft
    2022-08-01 0 days 1,602 sqft
    2022-09-01 0 days 1,660 sqft
    2022-10-01 0 days 1,647 sqft
    2022-11-01 0 days 1,647 sqft
    2022-12-01 0 days 1,736 sqft
    2023-01-01 0 days 1,703 sqft
    2023-02-01 0 days 1,599 sqft
    2023-03-01 0 days 1,658 sqft
    2023-04-01 0 days 1,667 sqft
    2023-05-01 0 days 1,699 sqft
    2023-06-01 0 days 1,692 sqft
    2023-07-01 0 days 1,692 sqft
    2023-08-01 0 days 1,743 sqft
    2023-09-01 0 days 1,767 sqft
    2023-10-01 0 days 1,592 sqft
    2023-11-01 0 days 1,634 sqft
    2023-12-01 0 days 1,736 sqft
    2024-01-01 0 days 1,646 sqft
    2024-02-01 0 days 1,608 sqft
    2024-03-01 0 days 1,632 sqft
    2024-04-01 0 days 1,692 sqft
    2024-05-01 0 days 1,726 sqft
    2024-06-01 0 days 1,704 sqft
    2024-07-01 0 days 1,714 sqft
    2024-08-01 0 days 1,721 sqft
    2024-09-01 0 days 1,675 sqft
    2024-10-01 0 days 1,738 sqft
    2024-11-01 0 days 1,724 sqft
    2024-12-01 0 days 1,801 sqft
    2025-01-01 0 days 1,835 sqft
    Ardmore's median listing age (time on market) for 2025-01-01 was 0 days.

    Ardmore's median square footage for active listings during the 2025-01-01 period was 1,835 sqft. One year prior, the average listing was 1,646 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).