Durant FHA Loan Rates, Closing Costs & Stats

Durant, 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.

    Durant's 43 lenders originated 165 FHA loans during 2024. The total origination value was $37,655,000, with an average FHA loan value of $228,212.

    Durant FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Durant averaged 0.49% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Durant's average FHA mortgage closing costs are $7,728.

    The average rate for the prior week (2025-06-27) was 6.87% and one month ago for the week of 2025-05-30, the average rate was 7.05%.

    The average rate one year ago was 6.87%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.2%.

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

    Durant 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 Durant level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    First United Bank and Trust Company 33 6.58% $9,764
    GUILD MORTGAGE COMPANY 25 6.88% $11,743
    QUICKEN LOANS, LLC 12 6.27% $11,917
    MID AMERICA MORTGAGE, INC. 10 6.58% $4,426
    UNITED WHOLESALE MORTGAGE, LLC 6 6.00% $12,826
    LOANDEPOT.COM, LLC 5 6.60% $12,963
    SOUTHWEST FUNDING, LP 4 6.96% $9,179
    Gateway First Bank 4 6.03% $14,016
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.63% $10,099
    FREEDOM MORTGAGE CORPORATION 3 6.13% $11,038
    CARDINAL FINANCIAL 3 5.96% $16,546
    NFM, INC. 3 7.21% $10,543
    Great Plains National Bank 3 7.17% $7,366
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $9,389
    PLAZA HOME MORTGAGE, INC. 2 6.63% $12,985
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 6.69% $6,833
    Stride Bank 2 6.13% $11,549
    NEWREZ LLC 2 6.75% $11,596
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $7,105
    RCB Bank 1 6.50% $8,649
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $12,397
    The Loan Store, Inc. 1 5.88% $16,252
    V.I.P. MORTGAGE, INC. 1 6.25% $9,215
    Waterstone Mortgage Corporation 1 7.63% $13,275
    American Mortgage Bank, LLC 1 6.63% $7,719
    ZILLOW HOME LOANS, LLC 1 6.00% $10,519
    AmeriHome Mortgage Company, LLC 1 6.63% $9,175
    ASSOCIATED MORTGAGE CORPORATION 1 5.88% $15,502
    BancFirst 1 6.25% $11,919
    BROKER SOLUTIONS, INC. 1 7.38% $10,115
    Carrington Mortgage Services, LLC 1 5.75% $11,836
    Chickasaw Community Bank 1 6.25% $7,045
    CMG MORTGAGE, INC. 1 6.38% $14,654
    CORNERSTONE HOME LENDING, INC. 1 7.00% $9,182
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $15,147
    Equity Prime Mortgage LLC 1 7.00% $12,363
    FLAT BRANCH MORTGAGE, INC. 1 5.50% $11,085
    GUARANTEED RATE, INC. 1 6.25% $12,447
    LEGEND LENDING CORPORATION 1 7.25% $12,076
    LOANPAL, LLC 1 5.63% $9,861
    Mortgage Research Center, LLC 1 6.63% $5,448
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $12,072
    Network Funding, L.P. 1 6.75% $12,579

    The top Durant FHA lender as defined by loan originations is First United Bank and Trust Company, with 33 FHA loans originated. Their average total fees are $9,764, which is $1,978 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Durant FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,426), First United Bank and Trust Company ($9,764), GUILD MORTGAGE COMPANY ($11,743), QUICKEN LOANS, LLC ($11,917) and .

    The lowest rate Durant FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.27%), MID AMERICA MORTGAGE, INC. (6.58%), First United Bank and Trust Company (6.58%), GUILD MORTGAGE COMPANY (6.88%) and .

    Durant FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    DURANT, OK BRYAN 2022 $420,680 $538,650 $651,050 $809,150
    DURANT, OK BRYAN 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).