Bartlesville FHA Loan Rates, Closing Costs & Stats

Bartlesville, 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.

    Bartlesville's 54 lenders originated 193 FHA loans during 2023. The total origination value was $32,765,000, with an average FHA loan value of $169,767.

    Bartlesville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bartlesville averaged 6.28% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Bartlesville's average FHA mortgage closing costs are $6,894.

    The average rate for the prior week (2024-11-01) was 6.26% and one month ago for the week of 2024-10-04, the average rate was 5.78%.

    The average rate one year ago was 7.52%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.63%.

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

    Bartlesville 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 Bartlesville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    OPEN MORTGAGE, LLC 23 6.42% $8,196
    QUICKEN LOANS, LLC 18 6.54% $9,999
    Arvest Bank 16 6.73% $7,346
    United Fidelity Funding Corp. 16 6.66% $9,373
    ASSOCIATED MORTGAGE CORPORATION 12 6.89% $7,394
    FLAT BRANCH MORTGAGE, INC. 10 6.80% $8,301
    UNITED WHOLESALE MORTGAGE, LLC 5 6.22% $12,265
    First United Bank and Trust Company 4 6.69% $7,733
    CARDINAL FINANCIAL 4 7.47% $9,019
    CORNERSTONE HOME LENDING, INC. 3 6.71% $9,635
    Mortgage Research Center, LLC 3 7.54% $8,165
    NEWREZ LLC 3 6.50% $11,284
    Stride Bank 3 7.00% $11,066
    American Bank of Oklahoma 2 7.19% $8,790
    AMERICAN FINANCIAL NETWORK, INC. 2 7.13% $9,449
    BancFirst 2 7.50% $7,762
    BROKER SOLUTIONS, INC. 2 7.00% $9,455
    Chickasaw Community Bank 2 7.25% $6,193
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.69% $10,105
    FIRST AMERICAN MORTGAGE, INC. 2 6.56% $5,792
    Gateway First Bank 2 7.00% $6,951
    LAKEVIEW LOAN SERVICING, LLC 2 5.50% $14,470
    PENNYMAC LOAN SERVICES, LLC 2 6.38% $8,420
    Servion, Inc. 2 6.44% $9,711
    The Central Trust Bank 2 6.38% $7,322
    US MORTGAGE CORPORATION 2 7.25% $8,538
    LOANPAL, LLC 1 5.63% $11,025
    EVERETT FINANCIAL, INC. 1 5.50% $10,355
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $9,126
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $7,723
    DAS Acquisition Company, LLC 1 6.63% $6,457
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $7,444
    Paramount Residential Mortgage Group, Inc. 1 7.13% $9,884
    ZILLOW HOME LOANS, LLC 1 6.50% $9,844
    POLARIS HOME FUNDING CORP. 1 7.75% $13,586
    Carrington Mortgage Services, LLC 1 7.25% $11,287
    RCB Bank 1 6.63% $5,383
    Regent Financial Group, Inc. 1 6.75% $11,820
    ROYAL UNITED MORTGAGE LLC 1 6.75% $8,756
    SENTE MORTGAGE, INC. 1 6.12% $16,349
    VAN DYK MORTGAGE CORPORATION 1 6.13% $5,092
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $8,311
    Waterstone Mortgage Corporation 1 7.75% $11,967
    The Federal Savings Bank 1 6.88% $10,831
    THE MORTGAGE LINK, INC. 1 7.13% $8,110
    TIB The Independent Bankersbank 1 7.75% $10,260
    TOTAL MORTGAGE SERVICES, LLC 1 8.25% $15,167
    TOWNE MORTGAGE COMPANY 1 7.25% $14,579
    Flagstar Bank, FSB 1 5.88% $9,448
    Fidelity Bank 1 6.13% $6,952
    BOKF 1 6.00% $10,293
    GUARANTEED RATE, INC. 1 6.75% $6,065
    JLB CORPORATION 1 5.75% $8,555
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $13,586

    The top Bartlesville FHA lender as defined by loan originations is OPEN MORTGAGE, LLC, with 23 FHA loans originated. Their average total fees are $8,196, which is $1,803 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bartlesville FHA lenders (with over 10 loans originated) are Arvest Bank ($7,346), ASSOCIATED MORTGAGE CORPORATION ($7,394), OPEN MORTGAGE, LLC ($8,196), FLAT BRANCH MORTGAGE, INC. ($8,301) and United Fidelity Funding Corp. ($9,373).

    The lowest rate Bartlesville FHA lenders (with over 10 loans originated) are OPEN MORTGAGE, LLC (6.42%), QUICKEN LOANS, LLC (6.54%), United Fidelity Funding Corp. (6.66%), Arvest Bank (6.73%) and FLAT BRANCH MORTGAGE, INC. (6.80%).

    Bartlesville FHA Loan Limits

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

    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).