Muskogee FHA Loan Rates, Closing Costs & Stats

Muskogee, 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.

    Muskogee's 43 lenders originated 254 FHA loans during 2024. The total origination value was $43,830,000, with an average FHA loan value of $172,559.

    Muskogee FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Muskogee averaged 0.31% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Muskogee's average FHA mortgage closing costs are $6,289.

    The average rate for the prior week (2025-06-13) was 6.7% and one month ago for the week of 2025-05-16, the average rate was 6.56%.

    The average rate one year ago was 6.91%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.1%.

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

    Muskogee 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 Muskogee level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    American Bank of Oklahoma 63 5.88% $7,879
    BROKER SOLUTIONS, INC. 43 6.86% $9,444
    Firstar Bank 17 6.49% $6,247
    FLAT BRANCH MORTGAGE, INC. 11 6.45% $7,829
    BOKF 10 6.43% $7,644
    Arvest Bank 9 6.68% $6,377
    BancFirst 8 6.50% $7,131
    US MORTGAGE CORPORATION 7 6.79% $8,666
    QUICKEN LOANS, LLC 7 6.48% $9,817
    GUILD MORTGAGE COMPANY 5 5.80% $5,620
    ASSOCIATED MORTGAGE CORPORATION 4 6.75% $10,343
    Equity Prime Mortgage LLC 3 6.88% $7,862
    MID AMERICA MORTGAGE, INC. 3 6.83% $5,277
    Mabrey Bank 3 6.50% $8,691
    VAN DYK MORTGAGE CORPORATION 2 6.99% $9,561
    AMERISAVE MORTGAGE CORPORATION 2 6.44% $10,240
    Carrington Mortgage Services, LLC 2 6.38% $9,574
    CORNERSTONE HOME LENDING, INC. 2 7.31% $7,687
    First United Bank and Trust Company 2 6.69% $13,432
    Gateway First Bank 2 6.38% $9,954
    HOMESIDE FINANCIAL, LLC 2 6.75% $8,276
    NEW FED MORTGAGE, CORP. 2 6.81% $9,107
    NEWREZ LLC 2 6.94% $6,822
    PENNYMAC LOAN SERVICES, LLC 2 6.44% $9,095
    The Central Trust Bank 2 6.19% $7,885
    TTCU Federal Credit Union 2 7.06% $5,807
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.63% $6,720
    M&T Bank 1 5.75% $8,291
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $16,587
    AXIA FINANCIAL, LLC 1 6.88% $4,262
    UNION SQUARE 1 6.25% $8,516
    OPEN MORTGAGE, LLC 1 5.75% $6,801
    UNITED WHOLESALE MORTGAGE, LLC 1 5.99% $10,327
    Century Mortgage Company DBA Century Lending Company 1 6.25% $19,177
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $10,839
    Stride Bank 1 6.00% $11,549
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $7,648
    CARDINAL FINANCIAL 1 7.25% $8,357
    LOANDEPOT.COM, LLC 1 6.99% $6,082
    LOANPAL, LLC 1 6.75% $6,235
    FREEDOM MORTGAGE CORPORATION 1 6.13% $6,788
    Members Mortgage Services, L.L.C. 1 7.38% $4,969
    CMG MORTGAGE, INC. 1 6.13% $10,358

    The top Muskogee FHA lender as defined by loan originations is American Bank of Oklahoma, with 63 FHA loans originated. Their average total fees are $7,879, which is $1,564 lower than the next largest lender, BROKER SOLUTIONS, INC..

    The lowest fee Muskogee FHA lenders (with over 10 loans originated) are Firstar Bank ($6,247), BOKF ($7,644), FLAT BRANCH MORTGAGE, INC. ($7,829), American Bank of Oklahoma ($7,879) and BROKER SOLUTIONS, INC. ($9,444).

    The lowest rate Muskogee FHA lenders (with over 10 loans originated) are American Bank of Oklahoma (5.88%), BOKF (6.43%), FLAT BRANCH MORTGAGE, INC. (6.45%), Firstar Bank (6.49%) and BROKER SOLUTIONS, INC. (6.86%).

    Muskogee FHA Loan Limits

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