Oklahoma City FHA Loan Rates, Closing Costs & Stats

OKLAHOMA CITY, 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.

    Oklahoma City's 167 lenders originated 4,657 FHA loans during 2022. The total origination value was $962,935,000, with an average FHA loan value of $206,772.

    Oklahoma City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Oklahoma City averaged 6.49% for the week of 2023-09-22, compared to the national average (all FHA variants) of 7.036% for the same period.

    Oklahoma City's average FHA mortgage closing costs are $6,615.

    The average rate for the prior week (2023-09-15) was 6.64% and one month ago for the week of 2023-08-18, the average rate was 6.85%.

    The average rate one year ago was 5.43%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.96%.

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

    Oklahoma City 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 Oklahoma City level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    CORNERSTONE HOME LENDING, INC. 311 5.20% $9,200
    QUICKEN LOANS, LLC 282 4.61% $9,380
    Stride Bank 252 5.19% $9,224
    First United Bank and Trust Company 247 5.60% $8,203
    UNITED WHOLESALE MORTGAGE, LLC 177 5.05% $9,147
    Gateway First Bank 136 5.52% $7,960
    Chickasaw Community Bank 130 5.01% $8,443
    LOANDEPOT.COM, LLC 123 4.95% $9,974
    PENNYMAC LOAN SERVICES, LLC 109 4.57% $9,268
    Hometown Lenders, Inc. 109 5.09% $10,527
    American Mortgage Bank, LLC 106 5.17% $9,316
    ASSOCIATED MORTGAGE CORPORATION 91 5.12% $8,819
    Great Plains National Bank 87 5.60% $8,547
    CARDINAL FINANCIAL 79 5.29% $10,485
    EVERETT FINANCIAL, INC. 77 5.46% $5,730
    CROSSCOUNTRY MORTGAGE, LLC 75 4.50% $9,391
    BOKF 68 5.11% $7,616
    FIRST AMERICAN MORTGAGE, INC. 67 4.97% $7,659
    CALIBER HOME LOANS, INC. 65 4.33% $7,591
    Arvest Bank 56 5.17% $7,034
    Mr. Cooper ( Nationstar Mortgage ) 53 4.79% $11,793
    Town Square Mortgage & Investments, Inc. 52 5.36% $7,862
    FREEDOM MORTGAGE CORPORATION 51 5.10% $9,148
    F & M Bank 49 4.85% $6,819
    AMERISAVE MORTGAGE CORPORATION 46 4.46% $9,783
    BancFirst 46 5.05% $7,307
    Paramount Residential Mortgage Group, Inc. 46 5.62% $10,070
    PLAZA HOME MORTGAGE, INC. 45 5.32% $10,043
    PRIMELENDING, A PLAINSCAPITAL COMPANY 42 5.27% $8,089
    GUARANTEED RATE, INC. 41 5.35% $8,911
    AMCAP MORTGAGE, LTD. 41 5.14% $9,018
    LAKEVIEW LOAN SERVICING, LLC 41 3.87% $7,619
    Flagstar Bank, FSB 41 5.11% $8,416
    DHI MORTGAGE COMPANY, LTD. 40 4.27% $7,253
    SWBC MORTGAGE CORPORATION 37 5.34% $6,351
    BROKER SOLUTIONS, INC. 35 4.93% $10,291
    CERTAINTY HOME LOANS, LLC 32 5.09% $8,421
    MID AMERICA MORTGAGE, INC. 29 5.12% $5,396
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 5.32% $8,911
    FINANCIAL CONCEPTS MORTGAGE, LLC 25 5.04% $7,250
    CWM PARTNERS, L.P. 23 4.45% $8,812
    HOME POINT FINANCIAL CORPORATION 23 4.70% $9,288
    CMG MORTGAGE, INC. 23 5.14% $8,587
    United Fidelity Funding Corp. 22 5.18% $9,925
    NEWREZ LLC 22 4.98% $7,436
    LEADERONE FINANCIAL CORPORATION 22 4.33% $8,052
    GUILD MORTGAGE COMPANY 22 4.65% $8,472
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 5.51% $10,447
    Carrington Mortgage Services, LLC 21 5.12% $11,459
    MORTGAGE SOLUTIONS OF COLORADO, LLC 21 5.70% $10,382
    Equity Prime Mortgage LLC 19 4.99% $9,634
    BAY EQUITY LLC 17 5.13% $9,895
    SECURITYNATIONAL MORTGAGE COMPANY 17 5.23% $9,002
    Bank of America 16 3.95% $4,333
    Armstrong Bank 16 4.81% $7,083
    UNION HOME MORTGAGE CORP. 15 5.53% $8,877
    HOMEBRIDGE FINANCIAL SERVICES, INC. 15 4.72% $9,668
    JPMorgan Chase Bank 15 4.97% $5,492
    VILLAGE CAPITAL MORTGAGE 15 3.80% $6,099
    AmeriHome Mortgage Company, LLC 14 4.24% $7,805
    First Liberty Bank 14 4.98% $9,736
    FLAT BRANCH MORTGAGE, INC. 13 5.22% $8,257
    INTERLINC MORTGAGE SERVICES, LLC 13 5.00% $9,274
    MidFirst Bank 12 3.65% $6,751
    MUTUAL OF OMAHA MORTGAGE, INC. 12 5.23% $12,032
    OPEN MORTGAGE, LLC 11 4.84% $9,752
    Mortgage Research Center, LLC 10 5.41% $6,128
    First Guaranty Mortgage Corporation 10 3.95% $8,823
    MOVEMENT MORTGAGE, LLC 10 4.64% $7,978
    AMERICAN FINANCING CORPORATION 10 4.05% $7,508
    U.S. Bank 9 5.19% $7,919
    RCB Bank 9 4.54% $8,080
    Nations Lending Corporation 9 5.25% $12,603
    PLANET HOME LENDING, LLC 8 4.45% $7,495
    GUARANTY HOME MORTGAGE CORPORATION 8 4.88% $7,282
    FBC MORTGAGE, LLC 8 5.09% $9,219
    Servion, Inc. 8 4.84% $8,302
    Century Mortgage Company DBA Century Lending Company 7 5.61% $9,550
    SUN WEST MORTGAGE COMPANY, INC. 7 5.95% $9,529
    HOMESIDE FINANCIAL, LLC 7 5.02% $10,602
    ZILLOW HOME LOANS, LLC 7 5.30% $8,128
    LOANPAL, LLC 7 4.68% $10,839
    Citizens Bank 6 4.94% $7,426
    CHURCHILL MORTGAGE CORPORATION 6 5.98% $11,083
    FirstTrust Home Loans, Inc. 6 4.52% $8,750
    ACADEMY MORTGAGE CORPORATION 5 4.90% $12,853
    Barrington Bank & Trust Company, N.A. 5 4.55% $9,817
    HOMESPIRE MORTGAGE CORPORATION 5 5.23% $7,067
    InterBank 5 4.30% $7,289
    Waterstone Mortgage Corporation 4 4.84% $8,032
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 5.84% $9,477
    ARC HOME LLC 4 3.03% $8,773
    US MORTGAGE CORPORATION 4 4.88% $10,343
    Wells Fargo Bank 4 5.66% $7,202
    Goldwater Bank, N.A. 4 5.31% $9,208
    AMERICAN HOMESTAR MORTGAGE, L.L.C. 3 4.58% $10,275
    SUCCESS MORTGAGE PARTNERS, INC. 3 5.75% $8,930
    M&T Bank 3 5.71% $9,054
    Hometown Equity Mortgage, LLC 3 3.58% $6,274
    Mortgage Investment Services Corporation 3 4.92% $5,196
    Unify Home Lending Inc. 3 5.83% $6,777
    PHH Mortgage Corporation 3 4.75% $9,999
    POLARIS HOME FUNDING CORP. 3 6.58% $11,363
    GENEVA FINANCIAL, LLC 3 3.75% $10,613
    CHERRY CREEK MORTGAGE, LLC 3 5.08% $4,318
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.69% $7,319
    CENTENNIAL LENDING, LLC 2 4.31% $8,574
    WILLOW BEND MORTGAGE COMPANY, LLC 2 5.69% $9,472
    Wyndham Capital Mortgage, Inc. 2 5.31% $9,839
    International Bank of Commerce 2 4.38% $9,126
    Centennial Bank 2 4.81% $10,668
    First Savings Bank 2 4.50% $6,107
    Prosperity Bank 2 4.56% $9,388
    CASTLE & COOKE MORTGAGE, LLC 2 5.94% $17,622
    Firstar Bank 2 5.31% $7,170
    NATIONS DIRECT MORTGAGE, LLC 2 3.63% $10,575
    Magnolia Bank 2 4.63% $15,588
    FINANCE OF AMERICA MORTGAGE LLC 2 3.50% $9,674
    Fidelity Bank 2 4.81% $11,923
    SENTE MORTGAGE, INC. 2 6.25% $10,837
    GREAT WESTERN FINANCIAL SERVICES, INC. 2 4.75% $8,825
    NTFN, INC. 2 4.94% $8,158
    OCEANSIDE MORTGAGE COMPANY 2 4.06% $2,100
    SOUTHWEST STAGE FUNDING, LLC 2 4.81% $10,681
    MORIA DEVELOPMENT, INC. 2 5.63% $5,739
    LIBERTY HOME MORTGAGE CORPORATION 2 4.06% $8,377
    Bank of England 2 5.38% $7,071
    Colten Mortgage, LLC 2 4.13% $10,155
    Texana Bank 2 3.69% $10,847
    The Central Trust Bank 2 6.56% $10,943
    The Federal Savings Bank 2 4.88% $10,015
    US Employees O.C. Federal Credit Union 2 5.19% $6,327
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.44% $11,408
    BECKAM FUNDING CORP. 1 3.00% $8,817
    JLB CORPORATION 1 2.88% $5,896
    MORTGAGE CLEARING CORPORATION 1 3.50% $6,145
    First State Bank 1 7.13% $13,762
    NETWORK CAPITAL FUNDING CORPORATION 1 5.25% $10,449
    Network Funding, L.P. 1 4.75% $8,561
    North American Savings Bank, F.S.B. 1 6.50% $4,957
    Core Bank 1 4.99% $8,077
    CONTOUR MORTGAGE CORPORATION 1 5.88% $22,618
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $8,531
    Peoples Bank 1 6.13% $12,254
    Plains Commerce Bank 1 6.75% $6,512
    PNC Bank 1 5.00% $6,508
    Princeton Mortgage Corporation 1 3.75% $5,926
    BETTER MORTGAGE CORPORATION 1 4.13% $6,217
    Reliabank Dakota 1 4.88% $7,949
    RESIDENTIAL BANCORP 1 5.50% $9,673
    ROYAL UNITED MORTGAGE LLC 1 5.13% $10,398
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $7,598
    S1L, Inc. 1 6.50% $14,325
    BEST CAPITAL FUNDING 1 5.63% $5,836
    LHM FINANCIAL CORPORATION 1 6.25% $12,225
    SFMC, LP 1 6.75% $14,928
    Simmons Bank 1 5.13% $7,651
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.63% $10,191
    Bank of Tennessee 1 4.88% $10,411
    Armed Forces Bank 1 2.50% $7,986
    TJC Mortgage, Inc. 1 4.63% $8,105
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $9,365
    ANGEL OAK HOME LOANS LLC 1 4.13% $9,969
    UNITED MORTGAGE CORP 1 4.75% $9,880
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $11,167
    Watermark Capital, Inc. 1 4.13% $5,806
    American Bank of Oklahoma 1 5.13% $11,437

    The top Oklahoma City FHA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with 311 FHA loans originated. Their average total fees are $9,200, which is $180 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Oklahoma City FHA lenders (with over 10 loans originated) are Bank of America ($4,333), MID AMERICA MORTGAGE, INC. ($5,396), JPMorgan Chase Bank ($5,492), EVERETT FINANCIAL, INC. ($5,730) and VILLAGE CAPITAL MORTGAGE ($6,099).

    The lowest rate Oklahoma City FHA lenders (with over 10 loans originated) are MidFirst Bank (3.65%), VILLAGE CAPITAL MORTGAGE (3.80%), LAKEVIEW LOAN SERVICING, LLC (3.87%), First Guaranty Mortgage Corporation (3.95%) and Bank of America (3.95%).

    Oklahoma City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OKLAHOMA CITY, OK CANADIAN 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK CLEVELAND 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK GRADY 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK LOGAN 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK MCCLAIN 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK OKLAHOMA 2022 $420,680 $538,650 $651,050 $809,150
    OKLAHOMA CITY, OK CANADIAN 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK CLEVELAND 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK GRADY 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK LOGAN 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK MCCLAIN 2023 $472,030 $604,400 $730,525 $907,900
    OKLAHOMA CITY, OK OKLAHOMA 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Oklahoma City (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 $224,550 (3.6%) $289,268 (4.4%) 0.83 5,886
    2018-02-01 $224,500 (3.0%) $292,551 (5.1%) 0.82 5,735
    2018-03-01 $233,000 (5.6%) $301,130 (6.4%) 0.82 5,639
    2018-04-01 $237,374 (5.5%) $306,739 (6.1%) 0.80 5,737
    2018-05-01 $237,981 (3.5%) $309,278 (3.4%) 0.79 5,798
    2018-06-01 $235,000 (2.2%) $310,384 (3.7%) 0.78 6,073
    2018-07-01 $236,246 (4.3%) $312,590 (5.3%) 0.79 6,271
    2018-08-01 $233,450 (3.8%) $307,874 (4.4%) 0.78 6,339
    2018-09-01 $234,000 (4.0%) $309,135 (5.2%) 0.79 6,126
    2018-10-01 $233,925 (4.3%) $312,426 (6.7%) 0.79 6,037
    2018-11-01 $236,000 (6.0%) $316,093 (8.6%) 0.80 6,002
    2018-12-01 $234,900 (4.5%) $318,030 (9.5%) 0.81 5,655
    2019-01-01 $234,373 (4.4%) $314,478 (8.7%) 0.81 5,165
    2019-02-01 $235,980 (5.1%) $312,374 (6.8%) 0.80 5,063
    2019-03-01 $244,360 (4.9%) $324,051 (7.6%) 0.80 4,911
    2019-04-01 $252,920 (6.6%) $334,258 (9.0%) 0.80 4,864
    2019-05-01 $258,700 (8.7%) $339,263 (9.7%) 0.81 4,851
    2019-06-01 $256,000 (8.9%) $339,599 (9.4%) 0.80 4,904
    2019-07-01 $255,450 (8.1%) $339,824 (8.7%) 0.80 5,121
    2019-08-01 $252,145 (8.0%) $339,036 (10.1%) 0.80 5,102
    2019-09-01 $252,514 (7.9%) $338,152 (9.4%) 0.81 5,025
    2019-10-01 $252,759 (8.1%) $337,242 (7.9%) 0.82 4,974
    2019-11-01 $250,000 (5.9%) $338,184 (7.0%) 0.82 4,866
    2019-12-01 $250,000 (6.4%) $339,880 (6.9%) 0.83 4,519
    2020-01-01 $250,258 (6.8%) $337,861 (7.4%) 0.84 4,254
    2020-02-01 $255,000 (8.1%) $339,967 (8.8%) 0.84 4,099
    2020-03-01 $262,875 (7.6%) $344,773 (6.4%) 0.82 4,071
    2020-04-01 $263,100 (4.0%) $344,259 (3.0%) 0.82 4,252
    2020-05-01 $268,350 (3.7%) $353,972 (4.3%) 0.82 4,067
    2020-06-01 $290,000 (13.3%) $387,196 (14.0%) 0.85 3,662
    2020-07-01 $282,990 (10.8%) $386,670 (13.8%) 0.82 3,526
    2020-08-01 $269,900 (7.0%) $374,805 (10.6%) 0.77 3,315
    2020-09-01 $279,900 (10.9%) $393,405 (16.3%) 0.80 3,069
    2020-10-01 $280,000 (10.8%) $399,087 (18.3%) 0.80 2,965
    2020-11-01 $274,500 (9.8%) $394,107 (16.5%) 0.80 2,864
    2020-12-01 $267,450 (7.0%) $390,253 (14.8%) 0.80 2,595
    2021-01-01 $264,900 (5.9%) $382,480 (13.2%) 0.79 2,129
    2021-02-01 $289,250 (13.4%) $416,121 (22.4%) 0.84 1,772
    2021-03-01 $287,500 (9.4%) $420,208 (21.9%) 0.82 1,614
    2021-04-01 $295,688 (12.4%) $436,364 (26.8%) 0.80 1,418
    2021-05-01 $286,900 (6.9%) $426,787 (20.6%) 0.76 1,475
    2021-06-01 $284,935 (-1.8%) $428,165 (10.6%) 0.75 1,736
    2021-07-01 $285,000 (0.7%) $414,666 (7.2%) 0.75 2,101
    2021-08-01 $279,751 (3.7%) $397,092 (6.0%) 0.75 2,390
    2021-09-01 $275,750 (-1.5%) $390,747 (-0.7%) 0.74 2,423
    2021-10-01 $274,995 (-1.8%) $400,555 (0.4%) 0.73 2,317
    2021-11-01 $289,552 (5.5%) $421,014 (6.8%) 0.77 2,217
    2021-12-01 $290,000 (8.4%) $411,115 (5.4%) 0.79 1,993
    2022-01-01 $309,500 (16.8%) $426,750 (11.6%) 0.84 1,651
    2022-02-01 $329,170 (13.8%) $444,823 (6.9%) 0.86 1,387
    2022-03-01 $339,500 (18.1%) $459,086 (9.3%) 0.85 1,300
    2022-04-01 $314,490 (6.4%) $435,909 (-0.1%) 0.75 1,436
    2022-05-01 $325,805 (13.6%) $435,212 (2.0%) 0.74 1,840
    2022-06-01 $321,968 (13.0%) $426,595 (-0.4%) 0.72 2,382
    2022-07-01 $315,000 (10.5%) $409,636 (-1.2%) 0.71 3,091
    2022-08-01 $318,652 (13.9%) $399,395 (0.6%) 0.74 3,346
    2022-09-01 $321,398 (16.6%) $401,496 (2.8%) 0.75 3,265
    2022-10-01 $320,000 (16.4%) $405,164 (1.2%) 0.75 3,551
    2022-11-01 $325,000 (12.2%) $409,208 (-2.8%) 0.78 3,667
    2022-12-01 $325,000 (12.1%) $404,851 (-1.5%) 0.80 3,494
    2023-01-01 $338,962 (9.5%) $415,489 (-2.6%) 0.84 3,298
    2023-02-01 $349,180 (6.1%) $422,327 (-5.1%) 0.84 3,061
    2023-03-01 $350,000 (3.1%) $426,880 (-7.0%) 0.83 2,979
    2023-04-01 $352,990 (12.2%) $428,867 (-1.6%) 0.82 2,925
    2023-05-01 $353,550 (8.5%) $431,310 (-0.9%) 0.80 3,035
    2023-06-01 $350,000 (8.7%) $434,187 (1.8%) 0.79 3,080
    2023-07-01 $347,250 (10.2%) $431,679 (5.4%) 0.79 3,427
    2023-08-01 $339,858 (6.7%) $420,632 (5.3%) 0.78 3,605
    Oklahoma City's median listing price for 2023-08-01 was $339,858, a difference of $21,206 (6.7%) versus the prior year and $-7,392 versus the prior month.

    Oklahoma City's median listing price comes in at 78% of the national average.

    Oklahoma City's average listing price for 2023-08-01 was $420,632, a difference of $21,237 (5.3%) versus the prior year and $-11,047 versus the prior month.

    For the 2023-08-01 period, Oklahoma City had 3,605 MLS listings, a difference of 178 listings (5%) versus the prior month and 259 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Oklahoma City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,065 sqft
    2018-02-01 67 days 2,059 sqft
    2018-03-01 58 days 2,099 sqft
    2018-04-01 50 days 2,132 sqft
    2018-05-01 47 days 2,127 sqft
    2018-06-01 48 days 2,117 sqft
    2018-07-01 52 days 2,123 sqft
    2018-08-01 58 days 2,107 sqft
    2018-09-01 58 days 2,106 sqft
    2018-10-01 60 days 2,100 sqft
    2018-11-01 61 days 2,096 sqft
    2018-12-01 72 days 2,076 sqft
    2019-01-01 74 days 2,051 sqft
    2019-02-01 66 days 2,052 sqft
    2019-03-01 55 days 2,095 sqft
    2019-04-01 44 days 2,142 sqft
    2019-05-01 43 days 2,160 sqft
    2019-06-01 44 days 2,150 sqft
    2019-07-01 45 days 2,148 sqft
    2019-08-01 47 days 2,138 sqft
    2019-09-01 50 days 2,136 sqft
    2019-10-01 52 days 2,132 sqft
    2019-11-01 54 days 2,100 sqft
    2019-12-01 62 days 2,094 sqft
    2020-01-01 62 days 2,056 sqft
    2020-02-01 49 days 2,065 sqft
    2020-03-01 41 days 2,097 sqft
    2020-04-01 44 days 2,100 sqft
    2020-05-01 47 days 2,111 sqft
    2020-06-01 44 days 2,237 sqft
    2020-07-01 46 days 2,203 sqft
    2020-08-01 50 days 2,114 sqft
    2020-09-01 45 days 2,136 sqft
    2020-10-01 43 days 2,136 sqft
    2020-11-01 46 days 2,093 sqft
    2020-12-01 51 days 2,030 sqft
    2021-01-01 55 days 1,996 sqft
    2021-02-01 44 days 2,076 sqft
    2021-03-01 44 days 2,094 sqft
    2021-04-01 39 days 2,108 sqft
    2021-05-01 38 days 2,064 sqft
    2021-06-01 35 days 2,007 sqft
    2021-07-01 36 days 1,980 sqft
    2021-08-01 35 days 1,948 sqft
    2021-09-01 41 days 1,891 sqft
    2021-10-01 43 days 1,873 sqft
    2021-11-01 41 days 1,946 sqft
    2021-12-01 47 days 1,917 sqft
    2022-01-01 52 days 1,981 sqft
    2022-02-01 43 days 1,999 sqft
    2022-03-01 35 days 2,009 sqft
    2022-04-01 33 days 1,935 sqft
    2022-05-01 29 days 1,932 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 37 days 1,910 sqft
    2022-08-01 40 days 1,918 sqft
    2022-09-01 48 days 1,951 sqft
    2022-10-01 47 days 1,970 sqft
    2022-11-01 50 days 1,985 sqft
    2022-12-01 60 days 1,990 sqft
    2023-01-01 64 days 2,025 sqft
    2023-02-01 53 days 2,030 sqft
    2023-03-01 51 days 2,042 sqft
    2023-04-01 46 days 2,047 sqft
    2023-05-01 43 days 2,066 sqft
    2023-06-01 45 days 2,062 sqft
    2023-07-01 43 days 2,030 sqft
    2023-08-01 43 days 2,015 sqft
    Oklahoma City's median listing age (time on market) for 2023-08-01 was 43 days. This is 8% longer than the same period one year ago.

    Oklahoma City's median square footage for active listings during the 2023-08-01 period was 2,015 sqft. One year prior, the average listing was 1,918 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).