Oklahoma City FHA Loan Rates, Closing Costs & Stats

OKLAHOMA CITY, OK

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 6.36% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

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

The average rate for the prior week (2024-02-09) was 6.27% and one month ago for the week of 2024-01-12, the average rate was 6.11%.

The average rate one year ago was 5.86%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.34%.

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 $224,625 (3.6%) $289,303 (4.4%) 0.83 5,885
2018-02-01 $224,500 (3.0%) $292,603 (5.1%) 0.82 5,734
2018-03-01 $233,055 (5.7%) $301,200 (6.5%) 0.82 5,639
2018-04-01 $237,500 (5.6%) $306,794 (6.2%) 0.81 5,736
2018-05-01 $238,088 (3.5%) $309,325 (3.4%) 0.80 5,797
2018-06-01 $235,000 (2.2%) $310,440 (3.7%) 0.78 6,071
2018-07-01 $236,250 (4.3%) $312,663 (5.3%) 0.79 6,270
2018-08-01 $233,450 (3.8%) $307,954 (4.5%) 0.78 6,338
2018-09-01 $234,000 (4.0%) $309,152 (5.2%) 0.79 6,125
2018-10-01 $234,055 (4.3%) $312,495 (6.7%) 0.79 6,035
2018-11-01 $236,000 (6.0%) $316,134 (8.6%) 0.80 6,002
2018-12-01 $234,900 (4.5%) $318,080 (9.5%) 0.81 5,652
2019-01-01 $234,425 (4.4%) $314,541 (8.7%) 0.81 5,164
2019-02-01 $235,993 (5.1%) $312,419 (6.8%) 0.80 5,062
2019-03-01 $244,742 (5.0%) $324,103 (7.6%) 0.80 4,910
2019-04-01 $253,388 (6.7%) $334,334 (9.0%) 0.80 4,863
2019-05-01 $258,701 (8.7%) $339,316 (9.7%) 0.81 4,845
2019-06-01 $256,000 (8.9%) $339,689 (9.4%) 0.80 4,901
2019-07-01 $255,450 (8.1%) $339,886 (8.7%) 0.80 5,121
2019-08-01 $252,209 (8.0%) $339,141 (10.1%) 0.80 5,103
2019-09-01 $252,598 (8.0%) $338,264 (9.4%) 0.81 5,026
2019-10-01 $252,857 (8.0%) $337,359 (8.0%) 0.82 4,975
2019-11-01 $250,000 (5.9%) $338,294 (7.0%) 0.82 4,866
2019-12-01 $250,000 (6.4%) $340,009 (6.9%) 0.83 4,520
2020-01-01 $250,420 (6.8%) $337,996 (7.5%) 0.84 4,255
2020-02-01 $255,000 (8.1%) $340,099 (8.9%) 0.83 4,100
2020-03-01 $263,045 (7.5%) $345,031 (6.5%) 0.82 4,068
2020-04-01 $263,500 (4.0%) $344,511 (3.0%) 0.83 4,249
2020-05-01 $268,400 (3.8%) $354,200 (4.4%) 0.82 4,065
2020-06-01 $290,000 (13.3%) $387,484 (14.1%) 0.85 3,658
2020-07-01 $283,250 (10.9%) $387,000 (13.9%) 0.82 3,520
2020-08-01 $269,900 (7.0%) $375,059 (10.6%) 0.77 3,309
2020-09-01 $279,990 (10.8%) $393,775 (16.4%) 0.80 3,064
2020-10-01 $280,000 (10.7%) $399,411 (18.4%) 0.80 2,960
2020-11-01 $274,500 (9.8%) $394,403 (16.6%) 0.80 2,860
2020-12-01 $267,450 (7.0%) $390,267 (14.8%) 0.80 2,591
2021-01-01 $264,900 (5.8%) $382,725 (13.2%) 0.79 2,126
2021-02-01 $289,300 (13.5%) $416,273 (22.4%) 0.84 1,771
2021-03-01 $287,710 (9.4%) $419,976 (21.7%) 0.82 1,611
2021-04-01 $295,750 (12.2%) $435,367 (26.4%) 0.80 1,414
2021-05-01 $286,900 (6.9%) $425,803 (20.2%) 0.76 1,473
2021-06-01 $284,935 (-1.8%) $427,356 (10.3%) 0.75 1,734
2021-07-01 $285,000 (0.6%) $413,908 (7.0%) 0.75 2,098
2021-08-01 $279,751 (3.7%) $396,437 (5.7%) 0.75 2,388
2021-09-01 $275,642 (-1.6%) $390,030 (-1.0%) 0.74 2,420
2021-10-01 $274,993 (-1.8%) $399,764 (0.1%) 0.73 2,314
2021-11-01 $289,552 (5.5%) $420,330 (6.6%) 0.77 2,213
2021-12-01 $290,000 (8.4%) $410,654 (5.2%) 0.79 1,990
2022-01-01 $309,700 (16.9%) $426,093 (11.3%) 0.84 1,649
2022-02-01 $329,170 (13.8%) $443,992 (6.7%) 0.86 1,385
2022-03-01 $339,428 (18.0%) $458,237 (9.1%) 0.85 1,298
2022-04-01 $314,490 (6.3%) $435,093 (-0.1%) 0.75 1,434
2022-05-01 $325,805 (13.6%) $434,571 (2.1%) 0.74 1,838
2022-06-01 $321,990 (13.0%) $426,215 (-0.3%) 0.72 2,376
2022-07-01 $315,500 (10.7%) $409,500 (-1.1%) 0.71 3,084
2022-08-01 $319,344 (14.2%) $399,322 (0.7%) 0.74 3,336
2022-09-01 $322,245 (16.9%) $401,421 (2.9%) 0.75 3,255
2022-10-01 $320,000 (16.4%) $405,015 (1.3%) 0.75 3,541
2022-11-01 $325,000 (12.2%) $409,054 (-2.7%) 0.78 3,656
2022-12-01 $324,990 (12.1%) $404,474 (-1.5%) 0.80 3,489
2023-01-01 $338,837 (9.4%) $415,119 (-2.6%) 0.84 3,293
2023-02-01 $349,204 (6.1%) $422,130 (-4.9%) 0.84 3,052
2023-03-01 $350,000 (3.1%) $427,123 (-6.8%) 0.83 2,967
2023-04-01 $353,900 (12.5%) $429,085 (-1.4%) 0.82 2,913
2023-05-01 $354,653 (8.9%) $431,604 (-0.7%) 0.80 3,023
2023-06-01 $350,000 (8.7%) $434,286 (1.9%) 0.79 3,071
2023-07-01 $347,250 (10.1%) $431,505 (5.4%) 0.79 3,426
2023-08-01 $339,858 (6.4%) $420,632 (5.3%) 0.78 3,605
2023-09-01 $329,990 (2.4%) $416,892 (3.9%) 0.77 3,741
2023-10-01 $334,723 (4.6%) $413,774 (2.2%) 0.79 3,947
2023-11-01 $329,450 (1.4%) $408,881 (0.0%) 0.78 4,075
2023-12-01 $320,000 (-1.5%) $403,506 (-0.2%) 0.78 4,015
Oklahoma City's median listing price for 2023-12-01 was $320,000, a difference of $-4,990 (-1.5%) versus the prior year and $-9,450 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 2023-12-01 was $403,506, a difference of $-968 (-0.2%) versus the prior year and $-5,375 versus the prior month.

For the 2023-12-01 period, Oklahoma City had 4,015 MLS listings, a difference of -60 listings (-1%) versus the prior month and 526 listings (15%) 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 48 days 2,127 sqft
2018-06-01 48 days 2,117 sqft
2018-07-01 52 days 2,124 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 2,097 sqft
2018-12-01 72 days 2,077 sqft
2019-01-01 74 days 2,052 sqft
2019-02-01 66 days 2,052 sqft
2019-03-01 55 days 2,095 sqft
2019-04-01 44 days 2,143 sqft
2019-05-01 43 days 2,161 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 2,101 sqft
2019-12-01 62 days 2,095 sqft
2020-01-01 62 days 2,057 sqft
2020-02-01 49 days 2,066 sqft
2020-03-01 41 days 2,097 sqft
2020-04-01 44 days 2,100 sqft
2020-05-01 47 days 2,112 sqft
2020-06-01 44 days 2,239 sqft
2020-07-01 46 days 2,205 sqft
2020-08-01 50 days 2,116 sqft
2020-09-01 45 days 2,137 sqft
2020-10-01 43 days 2,142 sqft
2020-11-01 46 days 2,094 sqft
2020-12-01 51 days 2,031 sqft
2021-01-01 55 days 1,998 sqft
2021-02-01 44 days 2,077 sqft
2021-03-01 44 days 2,097 sqft
2021-04-01 40 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 1,949 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 1,982 sqft
2022-02-01 43 days 1,999 sqft
2022-03-01 35 days 2,008 sqft
2022-04-01 33 days 1,932 sqft
2022-05-01 29 days 1,931 sqft
2022-06-01 31 days 1,916 sqft
2022-07-01 37 days 1,910 sqft
2022-08-01 40 days 1,919 sqft
2022-09-01 48 days 1,952 sqft
2022-10-01 47 days 1,970 sqft
2022-11-01 49 days 1,985 sqft
2022-12-01 60 days 1,989 sqft
2023-01-01 64 days 2,025 sqft
2023-02-01 53 days 2,029 sqft
2023-03-01 51 days 2,043 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
2023-09-01 46 days 2,000 sqft
2023-10-01 46 days 2,000 sqft
2023-11-01 50 days 1,988 sqft
2023-12-01 58 days 1,949 sqft
Oklahoma City's median listing age (time on market) for 2023-12-01 was 58 days. This is -3% shorter than the same period one year ago.

Oklahoma City's median square footage for active listings during the 2023-12-01 period was 1,949 sqft. One year prior, the average listing was 1,989 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).