Enid FHA Loan Rates, Closing Costs & Stats

ENID, 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.

    Enid's 36 lenders originated 167 FHA loans during 2023. The total origination value was $25,475,000, with an average FHA loan value of $152,545.

    Enid FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Enid averaged 6.94% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Enid's average FHA mortgage closing costs are $5,624.

    The average rate for the prior week (2024-04-12) was 6.53% and one month ago for the week of 2024-03-15, the average rate was 6.8%.

    The average rate one year ago was 6.32%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Enid 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 Enid level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PRIMELENDING, A PLAINSCAPITAL COMPANY 21 6.89% $6,856
    BOKF 18 6.67% $6,116
    QUICKEN LOANS, LLC 14 6.54% $8,320
    Gateway First Bank 12 7.18% $7,296
    American Mortgage & Equity Consultants, Inc. 6 6.98% $8,541
    OPEN MORTGAGE, LLC 3 6.75% $7,278
    Stride Bank 3 6.50% $6,679
    GUARANTEED RATE, INC. 3 6.63% $8,276
    ENDEAVOR CAPITAL, LLC. 2 6.56% $8,524
    UNITED WHOLESALE MORTGAGE, LLC 2 5.38% $17,991
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $10,768
    GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $14,346
    GUILD MORTGAGE COMPANY 1 7.00% $4,940
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $15,500
    LOANDEPOT.COM, LLC 1 7.13% $8,315
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $15,957
    Nations Lending Corporation 1 6.63% $16,247
    NBKC BANK 1 6.25% $4,469
    NEW FED MORTGAGE, CORP. 1 6.75% $5,974
    NEWREZ LLC 1 6.25% $15,579
    PENNYMAC LOAN SERVICES, LLC 1 5.88% $12,607
    PLANET HOME LENDING, LLC 1 7.50% $7,914
    SUN WEST MORTGAGE COMPANY, INC. 1 5.50% $8,562
    United Fidelity Funding Corp. 1 6.63% $9,540
    US MORTGAGE CORPORATION 1 7.25% $11,667
    AMERICAN FINANCING CORPORATION 1 6.75% $9,715
    ZILLOW HOME LOANS, LLC 1 6.25% $9,193
    Arvest Bank 1 7.00% $11,464
    Assurance Financial Group, L.L.C. 1 6.50% $8,474
    BancFirst 1 6.25% $7,589
    Barrington Bank & Trust Company, N.A. 1 5.50% $16,706
    CARDINAL FINANCIAL 1 6.75% $6,703
    Chickasaw Community Bank 1 6.50% $6,336
    COMMUNICATION 1 7.00% $5,005
    EVERETT FINANCIAL, INC. 1 6.75% $6,190
    Flagstar Bank, FSB 1 5.38% $4,684

    The top Enid FHA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 21 FHA loans originated. Their average total fees are $6,856, which is $740 higher than the next largest lender, BOKF.

    The lowest fee Enid FHA lenders (with over 10 loans originated) are BOKF ($6,116), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,856), Gateway First Bank ($7,296), QUICKEN LOANS, LLC ($8,320) and .

    The lowest rate Enid FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.54%), BOKF (6.67%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.89%), Gateway First Bank (7.18%) and .

    Enid FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Enid (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 $147,100 (-8.0%) $187,567 (-1.2%) 0.00 284
    2018-02-01 $142,225 (-13.5%) $182,857 (-5.6%) 0.00 273
    2018-03-01 $149,950 (-9.1%) $189,762 (-1.8%) 0.00 274
    2018-04-01 $153,550 (-7.8%) $195,155 (-1.2%) 0.00 271
    2018-05-01 $152,675 (-10.1%) $197,506 (0.2%) 0.00 276
    2018-06-01 $159,000 (-4.2%) $198,887 (0.1%) 0.00 285
    2018-07-01 $153,450 (-9.2%) $196,389 (-3.5%) 0.00 308
    2018-08-01 $157,450 (-3.9%) $206,114 (1.9%) 0.00 304
    2018-09-01 $165,900 (6.0%) $209,988 (7.8%) 0.00 301
    2018-10-01 $167,500 (11.2%) $212,531 (12.4%) 0.00 283
    2018-11-01 $161,825 (9.3%) $212,436 (12.1%) 0.00 276
    2018-12-01 $159,900 (9.2%) $205,089 (9.2%) 0.00 258
    2019-01-01 $165,500 (12.5%) $208,659 (11.3%) 0.00 246
    2019-02-01 $165,250 (16.2%) $211,602 (15.7%) 0.00 250
    2019-03-01 $175,786 (17.2%) $211,017 (11.2%) 0.00 267
    2019-04-01 $176,511 (15.0%) $208,870 (7.0%) 0.00 274
    2019-05-01 $161,875 (6.0%) $199,971 (1.3%) 0.00 287
    2019-06-01 $167,250 (5.2%) $206,264 (3.7%) 0.00 293
    2019-07-01 $166,875 (8.8%) $206,287 (5.0%) 0.00 277
    2019-08-01 $169,655 (7.8%) $209,085 (1.4%) 0.00 269
    2019-09-01 $169,286 (2.0%) $207,747 (-1.1%) 0.00 265
    2019-10-01 $169,041 (0.9%) $206,856 (-2.7%) 0.00 262
    2019-11-01 $169,900 (5.0%) $205,724 (-3.2%) 0.00 264
    2019-12-01 $159,900 (0.0%) $194,269 (-5.3%) 0.00 252
    2020-01-01 $152,625 (-7.8%) $188,339 (-9.7%) 0.00 253
    2020-02-01 $154,950 (-6.2%) $187,959 (-11.2%) 0.00 246
    2020-03-01 $174,825 (-0.6%) $210,605 (-0.2%) 0.00 231
    2020-04-01 $171,500 (-2.8%) $209,018 (0.1%) 0.00 239
    2020-05-01 $174,450 (7.8%) $210,861 (5.5%) 0.00 220
    2020-06-01 $171,450 (2.5%) $209,788 (1.7%) 0.00 213
    2020-07-01 $170,000 (1.9%) $213,059 (3.3%) 0.00 196
    2020-08-01 $169,900 (0.1%) $211,872 (1.3%) 0.00 181
    2020-09-01 $171,975 (1.6%) $213,303 (2.7%) 0.00 180
    2020-10-01 $176,200 (4.2%) $206,144 (-0.3%) 0.00 188
    2020-11-01 $174,925 (3.0%) $199,125 (-3.2%) 0.00 169
    2020-12-01 $174,500 (9.1%) $197,553 (1.7%) 0.00 157
    2021-01-01 $169,900 (11.3%) $197,611 (4.9%) 0.00 141
    2021-02-01 $157,875 (1.9%) $189,783 (1.0%) 0.00 129
    2021-03-01 $157,700 (-9.8%) $188,392 (-10.6%) 0.00 119
    2021-04-01 $157,825 (-8.0%) $190,551 (-8.8%) 0.00 108
    2021-05-01 $152,450 (-12.6%) $200,909 (-4.7%) 0.00 103
    2021-06-01 $164,950 (-3.8%) $209,669 (-0.1%) 0.00 102
    2021-07-01 $159,900 (-5.9%) $204,123 (-4.2%) 0.00 126
    2021-08-01 $149,900 (-11.8%) $196,500 (-7.3%) 0.00 157
    2021-09-01 $146,225 (-15.0%) $202,293 (-5.2%) 0.00 153
    2021-10-01 $149,900 (-14.9%) $209,934 (1.8%) 0.00 151
    2021-11-01 $148,425 (-15.2%) $213,080 (7.0%) 0.00 152
    2021-12-01 $148,900 (-14.7%) $216,678 (9.7%) 0.00 143
    2022-01-01 $138,700 (-18.4%) $215,582 (9.1%) 0.00 125
    2022-02-01 $128,700 (-18.5%) $217,940 (14.8%) 0.00 113
    2022-03-01 $134,250 (-14.9%) $241,245 (28.1%) 0.00 88
    2022-04-01 $155,000 (-1.8%) $253,429 (33.0%) 0.00 81
    2022-05-01 $174,925 (14.7%) $261,459 (30.1%) 0.00 86
    2022-06-01 $179,575 (8.9%) $264,129 (26.0%) 0.00 91
    2022-07-01 $182,000 (13.8%) $229,323 (12.4%) 0.00 112
    2022-08-01 $182,375 (21.7%) $224,185 (14.1%) 0.00 124
    2022-09-01 $188,000 (28.6%) $233,524 (15.4%) 0.00 129
    2022-10-01 $190,000 (26.8%) $234,207 (11.6%) 0.00 142
    2022-11-01 $192,000 (29.4%) $224,584 (5.4%) 0.00 144
    2022-12-01 $196,200 (31.8%) $221,287 (2.1%) 0.00 143
    2023-01-01 $199,900 (44.1%) $237,516 (10.2%) 0.00 131
    2023-02-01 $199,800 (55.2%) $235,619 (8.1%) 0.00 138
    2023-03-01 $236,225 (76.0%) $265,325 (10.0%) 0.00 128
    2023-04-01 $239,950 (54.8%) $259,196 (2.3%) 0.00 134
    2023-05-01 $276,100 (57.8%) $275,652 (5.4%) 0.00 128
    2023-06-01 $229,450 (27.8%) $261,327 (-1.1%) 0.00 121
    2023-07-01 $224,700 (23.5%) $260,212 (13.5%) 0.00 127
    2023-08-01 $217,875 (19.5%) $254,745 (13.6%) 0.00 136
    2023-09-01 $195,900 (4.2%) $242,166 (3.7%) 0.00 153
    2023-10-01 $219,950 (15.8%) $264,323 (12.9%) 0.00 151
    2023-11-01 $219,450 (14.3%) $262,814 (17.0%) 0.00 152
    2023-12-01 $230,000 (17.2%) $267,021 (20.7%) 0.00 164
    2024-01-01 $247,475 (23.8%) $277,537 (16.9%) 0.00 162
    2024-02-01 $243,950 (22.1%) $266,931 (13.3%) 0.00 175
    2024-03-01 $237,900 (0.7%) $256,774 (-3.2%) 0.00 167
    Enid's median listing price for 2024-03-01 was $237,900, a difference of $1,675 (0.7%) versus the prior year and $-6,050 versus the prior month.

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

    Enid's average listing price for 2024-03-01 was $256,774, a difference of $-8,551 (-3.2%) versus the prior year and $-10,157 versus the prior month.

    For the 2024-03-01 period, Enid had 167 MLS listings, a difference of -8 listings (-5%) versus the prior month and 39 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Enid (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,906 sqft
    2018-02-01 0 days 1,898 sqft
    2018-03-01 0 days 1,914 sqft
    2018-04-01 0 days 1,935 sqft
    2018-05-01 0 days 1,940 sqft
    2018-06-01 0 days 1,904 sqft
    2018-07-01 0 days 1,876 sqft
    2018-08-01 0 days 1,838 sqft
    2018-09-01 0 days 1,844 sqft
    2018-10-01 0 days 1,863 sqft
    2018-11-01 0 days 1,840 sqft
    2018-12-01 0 days 1,824 sqft
    2019-01-01 0 days 1,869 sqft
    2019-02-01 0 days 1,925 sqft
    2019-03-01 0 days 1,924 sqft
    2019-04-01 0 days 1,923 sqft
    2019-05-01 0 days 1,871 sqft
    2019-06-01 0 days 1,803 sqft
    2019-07-01 0 days 1,808 sqft
    2019-08-01 0 days 1,825 sqft
    2019-09-01 0 days 1,816 sqft
    2019-10-01 0 days 1,810 sqft
    2019-11-01 0 days 1,819 sqft
    2019-12-01 0 days 1,761 sqft
    2020-01-01 0 days 1,737 sqft
    2020-02-01 0 days 1,730 sqft
    2020-03-01 0 days 1,833 sqft
    2020-04-01 0 days 1,870 sqft
    2020-05-01 0 days 1,879 sqft
    2020-06-01 0 days 1,855 sqft
    2020-07-01 0 days 1,918 sqft
    2020-08-01 0 days 1,931 sqft
    2020-09-01 0 days 1,965 sqft
    2020-10-01 0 days 1,858 sqft
    2020-11-01 0 days 1,886 sqft
    2020-12-01 0 days 1,844 sqft
    2021-01-01 0 days 1,845 sqft
    2021-02-01 0 days 1,736 sqft
    2021-03-01 0 days 1,799 sqft
    2021-04-01 0 days 1,880 sqft
    2021-05-01 0 days 1,796 sqft
    2021-06-01 0 days 1,800 sqft
    2021-07-01 0 days 1,812 sqft
    2021-08-01 0 days 1,695 sqft
    2021-09-01 0 days 1,640 sqft
    2021-10-01 0 days 1,686 sqft
    2021-11-01 0 days 1,697 sqft
    2021-12-01 0 days 1,698 sqft
    2022-01-01 0 days 1,647 sqft
    2022-02-01 0 days 1,553 sqft
    2022-03-01 0 days 1,575 sqft
    2022-04-01 0 days 1,620 sqft
    2022-05-01 0 days 1,687 sqft
    2022-06-01 0 days 1,780 sqft
    2022-07-01 0 days 1,757 sqft
    2022-08-01 0 days 1,819 sqft
    2022-09-01 0 days 1,848 sqft
    2022-10-01 0 days 1,864 sqft
    2022-11-01 0 days 1,849 sqft
    2022-12-01 0 days 1,750 sqft
    2023-01-01 0 days 1,755 sqft
    2023-02-01 0 days 1,744 sqft
    2023-03-01 0 days 1,796 sqft
    2023-04-01 0 days 1,850 sqft
    2023-05-01 0 days 1,937 sqft
    2023-06-01 0 days 1,786 sqft
    2023-07-01 0 days 1,797 sqft
    2023-08-01 0 days 1,748 sqft
    2023-09-01 0 days 1,754 sqft
    2023-10-01 0 days 1,812 sqft
    2023-11-01 0 days 1,803 sqft
    2023-12-01 0 days 1,867 sqft
    2024-01-01 0 days 1,952 sqft
    2024-02-01 0 days 1,995 sqft
    2024-03-01 0 days 1,925 sqft
    Enid's median listing age (time on market) for 2024-03-01 was 0 days.

    Enid's median square footage for active listings during the 2024-03-01 period was 1,925 sqft. One year prior, the average listing was 1,796 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).