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 47 lenders originated 245 FHA loans during 2023. The total origination value was $42,395,000, with an average FHA loan value of $173,041.

    Muskogee FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Muskogee averaged 6.41% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Muskogee's average FHA mortgage closing costs are $6,005.

    The average rate for the prior week (2024-12-06) was 6.08% and one month ago for the week of 2024-11-08, the average rate was 6.25%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    American Bank of Oklahoma 51 5.99% $7,877
    AXIA FINANCIAL, LLC 23 6.79% $9,821
    QUICKEN LOANS, LLC 22 6.42% $10,063
    FLAT BRANCH MORTGAGE, INC. 20 6.83% $6,873
    Firstar Bank 18 6.14% $6,956
    BancFirst 12 6.69% $7,329
    Arvest Bank 9 6.56% $6,012
    BOKF 8 6.72% $6,864
    First United Bank and Trust Company 6 6.56% $7,597
    ASSOCIATED MORTGAGE CORPORATION 5 6.40% $7,107
    Chickasaw Community Bank 4 6.59% $7,351
    US MORTGAGE CORPORATION 3 6.21% $7,772
    OPEN MORTGAGE, LLC 3 6.71% $9,762
    UNITED WHOLESALE MORTGAGE, LLC 3 6.46% $10,758
    United Fidelity Funding Corp. 3 7.00% $8,356
    EVERETT FINANCIAL, INC. 2 7.13% $9,207
    BROKER SOLUTIONS, INC. 2 6.88% $10,102
    CARDINAL FINANCIAL 2 6.50% $11,189
    CORNERSTONE HOME LENDING, INC. 2 7.19% $7,419
    FBC MORTGAGE, LLC 2 6.50% $6,582
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $16,866
    NEWREZ LLC 2 6.69% $9,430
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $9,039
    CALCON MUTUAL MORTGAGE LLC 1 7.63% $7,848
    FREEDOM MORTGAGE CORPORATION 1 5.50% $8,197
    Gateway First Bank 1 7.00% $11,691
    LAKEVIEW LOAN SERVICING, LLC 1 6.99% $9,070
    LOANPAL, LLC 1 5.63% $10,530
    MID AMERICA MORTGAGE, INC. 1 6.75% $3,769
    MidFirst Bank 1 7.63% $6,955
    Mortgage Research Center, LLC 1 5.75% $6,747
    Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $11,897
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $4,520
    Waterstone Mortgage Corporation 1 7.25% $8,221
    Armstrong Bank 1 5.75% $4,290
    PENNYMAC LOAN SERVICES, LLC 1 7.63% $5,352
    PLAZA HOME MORTGAGE, INC. 1 7.25% $4,450
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $10,702
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $12,292
    SUMMIT FUNDING, INC. 1 7.13% $11,121
    TJC Mortgage, Inc. 1 6.75% $7,356
    TruHome Solutions, LLC 1 6.88% $7,688
    UNION HOME MORTGAGE CORP. 1 6.63% $5,917
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $6,884
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.63% $14,779
    FIRST AMERICAN MORTGAGE, INC. 1 7.00% $6,369
    ENDEAVOR CAPITAL, LLC. 1 6.38% $9,015

    The top Muskogee FHA lender as defined by loan originations is American Bank of Oklahoma, with 51 FHA loans originated. Their average total fees are $7,877, which is $1,944 lower than the next largest lender, AXIA FINANCIAL, LLC.

    The lowest fee Muskogee FHA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($6,873), Firstar Bank ($6,956), BancFirst ($7,329), American Bank of Oklahoma ($7,877) and AXIA FINANCIAL, LLC ($9,821).

    The lowest rate Muskogee FHA lenders (with over 10 loans originated) are American Bank of Oklahoma (5.99%), Firstar Bank (6.14%), QUICKEN LOANS, LLC (6.42%), BancFirst (6.69%) and AXIA FINANCIAL, LLC (6.79%).

    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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Muskogee (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 $114,100 (8.4%) $135,195 (-3.4%) 0.00 192
    2018-02-01 $107,625 (-1.3%) $133,665 (-4.5%) 0.00 179
    2018-03-01 $107,500 (-3.6%) $135,058 (-2.2%) 0.00 181
    2018-04-01 $116,000 (4.3%) $143,626 (5.8%) 0.00 178
    2018-05-01 $114,900 (4.0%) $138,673 (-0.1%) 0.00 187
    2018-06-01 $109,900 (0.2%) $138,641 (4.3%) 0.00 187
    2018-07-01 $114,950 (2.6%) $143,339 (9.8%) 0.00 189
    2018-08-01 $113,175 (-2.8%) $142,374 (3.1%) 0.00 189
    2018-09-01 $119,000 (3.5%) $148,477 (13.3%) 0.00 201
    2018-10-01 $114,950 (1.2%) $143,414 (8.8%) 0.00 217
    2018-11-01 $114,925 (2.2%) $142,031 (6.2%) 0.00 204
    2018-12-01 $110,000 (-4.4%) $140,340 (2.4%) 0.00 184
    2019-01-01 $113,750 (-0.3%) $138,986 (2.8%) 0.00 187
    2019-02-01 $115,000 (6.9%) $144,465 (8.1%) 0.00 186
    2019-03-01 $117,700 (9.5%) $148,479 (9.9%) 0.00 180
    2019-04-01 $124,450 (7.3%) $149,417 (4.0%) 0.00 174
    2019-05-01 $116,350 (1.3%) $142,529 (2.8%) 0.00 179
    2019-06-01 $119,900 (9.1%) $144,330 (4.1%) 0.00 172
    2019-07-01 $117,950 (2.6%) $146,354 (2.1%) 0.00 173
    2019-08-01 $121,123 (7.0%) $150,715 (5.9%) 0.00 183
    2019-09-01 $125,807 (5.7%) $154,132 (3.8%) 0.00 168
    2019-10-01 $128,930 (12.2%) $156,411 (9.1%) 0.00 155
    2019-11-01 $129,900 (13.0%) $163,003 (14.8%) 0.00 156
    2019-12-01 $129,882 (18.1%) $165,975 (18.3%) 0.00 146
    2020-01-01 $133,325 (17.2%) $170,363 (22.6%) 0.00 122
    2020-02-01 $134,950 (17.4%) $165,357 (14.5%) 0.00 135
    2020-03-01 $135,000 (14.7%) $174,273 (17.4%) 0.00 110
    2020-04-01 $140,625 (13.0%) $180,841 (21.0%) 0.00 109
    2020-05-01 $139,950 (20.3%) $185,735 (30.3%) 0.00 91
    2020-06-01 $141,725 (18.2%) $185,926 (28.8%) 0.00 92
    2020-07-01 $152,450 (29.3%) $202,721 (38.5%) 0.00 90
    2020-08-01 $135,000 (11.5%) $192,933 (28.0%) 0.00 78
    2020-09-01 $137,150 (9.0%) $196,491 (27.5%) 0.00 78
    2020-10-01 $135,500 (5.1%) $188,653 (20.6%) 0.00 87
    2020-11-01 $133,725 (2.9%) $184,837 (13.4%) 0.00 99
    2020-12-01 $134,900 (3.9%) $175,499 (5.7%) 0.00 90
    2021-01-01 $139,900 (4.9%) $171,865 (0.9%) 0.00 82
    2021-02-01 $124,950 (-7.4%) $165,397 (0.0%) 0.00 69
    2021-03-01 $89,950 (-33.4%) $155,217 (-10.9%) 0.00 60
    2021-04-01 $101,875 (-27.6%) $164,044 (-9.3%) 0.00 62
    2021-05-01 $82,000 (-41.4%) $156,618 (-15.7%) 0.00 57
    2021-06-01 $126,225 (-10.9%) $164,466 (-11.5%) 0.00 64
    2021-07-01 $134,950 (-11.5%) $173,554 (-14.4%) 0.00 76
    2021-08-01 $129,175 (-4.3%) $170,755 (-11.5%) 0.00 78
    2021-09-01 $119,625 (-12.8%) $153,557 (-21.9%) 0.00 103
    2021-10-01 $119,000 (-12.2%) $157,653 (-16.4%) 0.00 109
    2021-11-01 $114,225 (-14.6%) $161,707 (-12.5%) 0.00 95
    2021-12-01 $121,575 (-9.9%) $163,839 (-6.6%) 0.00 93
    2022-01-01 $116,950 (-16.4%) $173,534 (1.0%) 0.00 78
    2022-02-01 $133,975 (7.2%) $188,931 (14.2%) 0.00 67
    2022-03-01 $135,750 (50.9%) $192,666 (24.1%) 0.00 64
    2022-04-01 $175,000 (71.8%) $206,037 (25.6%) 0.00 70
    2022-05-01 $185,000 (125.6%) $213,329 (36.2%) 0.00 89
    2022-06-01 $201,226 (59.4%) $235,901 (43.4%) 0.00 92
    2022-07-01 $206,504 (53.0%) $231,323 (33.3%) 0.00 118
    2022-08-01 $209,331 (62.1%) $243,691 (42.7%) 0.00 143
    2022-09-01 $211,000 (76.4%) $236,542 (54.0%) 0.00 144
    2022-10-01 $204,990 (72.3%) $235,517 (49.4%) 0.00 142
    2022-11-01 $194,365 (70.2%) $236,673 (46.4%) 0.00 151
    2022-12-01 $189,990 (56.3%) $238,395 (45.5%) 0.00 132
    2023-01-01 $194,990 (66.7%) $243,755 (40.5%) 0.00 127
    2023-02-01 $194,990 (45.5%) $235,120 (24.5%) 0.00 140
    2023-03-01 $194,990 (43.6%) $247,987 (28.7%) 0.00 135
    2023-04-01 $204,745 (17.0%) $259,769 (26.1%) 0.00 132
    2023-05-01 $207,276 (12.0%) $265,037 (24.2%) 0.00 137
    2023-06-01 $203,550 (1.2%) $253,436 (7.4%) 0.00 139
    2023-07-01 $209,850 (1.6%) $262,120 (13.3%) 0.00 129
    2023-08-01 $197,445 (-5.7%) $251,792 (3.3%) 0.00 128
    2023-09-01 $194,995 (-7.6%) $250,160 (5.8%) 0.00 129
    2023-10-01 $184,990 (-9.8%) $221,936 (-5.8%) 0.00 153
    2023-11-01 $186,490 (-4.1%) $228,017 (-3.7%) 0.00 165
    2023-12-01 $187,990 (-1.1%) $226,531 (-5.0%) 0.00 146
    2024-01-01 $189,473 (-2.8%) $226,743 (-7.0%) 0.00 137
    2024-02-01 $188,870 (-3.1%) $236,121 (0.4%) 0.00 122
    2024-03-01 $194,990 (0.0%) $233,831 (-5.7%) 0.00 115
    2024-04-01 $199,005 (-2.8%) $258,023 (-0.7%) 0.00 122
    2024-05-01 $201,653 (-2.7%) $273,747 (3.3%) 0.00 127
    2024-06-01 $195,000 (-4.2%) $251,948 (-0.6%) 0.00 139
    2024-07-01 $187,000 (-10.9%) $232,882 (-11.2%) 0.00 162
    2024-08-01 $188,070 (-4.8%) $226,435 (-10.1%) 0.00 168
    2024-09-01 $174,500 (-10.5%) $215,411 (-13.9%) 0.00 179
    2024-10-01 $165,750 (-10.4%) $205,594 (-7.4%) 0.00 163
    2024-11-01 $179,000 (-4.0%) $214,663 (-5.9%) 0.00 177
    Muskogee's median listing price for 2024-11-01 was $179,000, a difference of $-7,490 (-4.0%) versus the prior year and $13,250 versus the prior month.

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

    Muskogee's average listing price for 2024-11-01 was $214,663, a difference of $-13,354 (-5.9%) versus the prior year and $9,069 versus the prior month.

    For the 2024-11-01 period, Muskogee had 177 MLS listings, a difference of 14 listings (9%) versus the prior month and 12 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Muskogee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,608 sqft
    2018-02-01 0 days 1,596 sqft
    2018-03-01 0 days 1,666 sqft
    2018-04-01 0 days 1,710 sqft
    2018-05-01 0 days 1,669 sqft
    2018-06-01 0 days 1,696 sqft
    2018-07-01 0 days 1,688 sqft
    2018-08-01 0 days 1,683 sqft
    2018-09-01 0 days 1,642 sqft
    2018-10-01 0 days 1,603 sqft
    2018-11-01 0 days 1,531 sqft
    2018-12-01 0 days 1,497 sqft
    2019-01-01 0 days 1,544 sqft
    2019-02-01 0 days 1,615 sqft
    2019-03-01 0 days 1,614 sqft
    2019-04-01 0 days 1,617 sqft
    2019-05-01 0 days 1,593 sqft
    2019-06-01 0 days 1,624 sqft
    2019-07-01 0 days 1,649 sqft
    2019-08-01 0 days 1,624 sqft
    2019-09-01 0 days 1,666 sqft
    2019-10-01 0 days 1,674 sqft
    2019-11-01 0 days 1,606 sqft
    2019-12-01 0 days 1,605 sqft
    2020-01-01 0 days 1,665 sqft
    2020-02-01 0 days 1,628 sqft
    2020-03-01 0 days 1,603 sqft
    2020-04-01 0 days 1,666 sqft
    2020-05-01 0 days 1,639 sqft
    2020-06-01 0 days 1,684 sqft
    2020-07-01 0 days 1,688 sqft
    2020-08-01 0 days 1,646 sqft
    2020-09-01 0 days 1,652 sqft
    2020-10-01 0 days 1,634 sqft
    2020-11-01 0 days 1,648 sqft
    2020-12-01 0 days 1,554 sqft
    2021-01-01 0 days 1,544 sqft
    2021-02-01 0 days 1,506 sqft
    2021-03-01 0 days 1,436 sqft
    2021-04-01 0 days 1,474 sqft
    2021-05-01 0 days 1,425 sqft
    2021-06-01 0 days 1,520 sqft
    2021-07-01 0 days 1,496 sqft
    2021-08-01 0 days 1,458 sqft
    2021-09-01 0 days 1,429 sqft
    2021-10-01 0 days 1,372 sqft
    2021-11-01 0 days 1,359 sqft
    2021-12-01 0 days 1,368 sqft
    2022-01-01 0 days 1,368 sqft
    2022-02-01 0 days 1,466 sqft
    2022-03-01 0 days 1,521 sqft
    2022-04-01 0 days 1,534 sqft
    2022-05-01 0 days 1,431 sqft
    2022-06-01 0 days 1,441 sqft
    2022-07-01 0 days 1,523 sqft
    2022-08-01 0 days 1,566 sqft
    2022-09-01 0 days 1,576 sqft
    2022-10-01 0 days 1,550 sqft
    2022-11-01 0 days 1,638 sqft
    2022-12-01 0 days 1,592 sqft
    2023-01-01 0 days 1,581 sqft
    2023-02-01 0 days 1,548 sqft
    2023-03-01 0 days 1,559 sqft
    2023-04-01 0 days 1,572 sqft
    2023-05-01 0 days 1,623 sqft
    2023-06-01 0 days 1,585 sqft
    2023-07-01 0 days 1,599 sqft
    2023-08-01 0 days 1,605 sqft
    2023-09-01 0 days 1,575 sqft
    2023-10-01 0 days 1,500 sqft
    2023-11-01 0 days 1,477 sqft
    2023-12-01 0 days 1,467 sqft
    2024-01-01 0 days 1,463 sqft
    2024-02-01 0 days 1,451 sqft
    2024-03-01 0 days 1,480 sqft
    2024-04-01 0 days 1,497 sqft
    2024-05-01 0 days 1,523 sqft
    2024-06-01 0 days 1,520 sqft
    2024-07-01 0 days 1,514 sqft
    2024-08-01 0 days 1,468 sqft
    2024-09-01 0 days 1,439 sqft
    2024-10-01 0 days 1,406 sqft
    2024-11-01 0 days 1,435 sqft
    Muskogee's median listing age (time on market) for 2024-11-01 was 0 days.

    Muskogee's median square footage for active listings during the 2024-11-01 period was 1,435 sqft. One year prior, the average listing was 1,477 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).