Stillwater FHA Loan Rates, Closing Costs & Stats

Stillwater, 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.

Stillwater's 55 lenders originated 190 FHA loans during 2021. The total origination value was $33,670,000, with an average FHA loan value of $177,211.

Stillwater FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Stillwater averaged 6.45% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Stillwater's average FHA mortgage closing costs are $6,345.

The average rate for the prior week (2022-11-25) was 6.67% and one month ago for the week of 2022-10-28, the average rate was 6.61%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-12-02, the average rate was 5.95%.

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

Stillwater 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 Stillwater level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 22 2.83% $7,211
INTERLINC MORTGAGE SERVICES, LLC 16 3.45% $6,923
Stride Bank 16 3.43% $6,651
BancFirst 13 2.82% $7,050
CROSSCOUNTRY MORTGAGE, LLC 9 3.71% $8,602
AMCAP MORTGAGE, LTD. 8 3.63% $7,200
Arvest Bank 6 3.04% $6,175
RCB Bank 4 3.28% $7,452
FREEDOM MORTGAGE CORPORATION 4 2.97% $5,396
CALIBER HOME LOANS, INC. 4 2.62% $6,005
Simmons Bank 4 2.78% $6,595
CWM PARTNERS, L.P. 4 2.81% $8,191
First United Bank and Trust Company 3 3.04% $5,825
ASSOCIATED MORTGAGE CORPORATION 3 2.96% $8,095
GUILD MORTGAGE COMPANY 3 3.04% $6,636
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.75% $5,389
American Mortgage Bank, LLC 2 3.00% $6,835
MID AMERICA MORTGAGE, INC. 2 3.31% $4,691
US MORTGAGE CORPORATION 2 3.00% $5,334
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.44% $7,006
LOANDEPOT.COM, LLC 2 3.88% $5,879
Chickasaw Community Bank 2 2.81% $7,646
PENNYMAC LOAN SERVICES, LLC 2 3.06% $4,084
Gateway First Bank 2 3.38% $3,137
Mortgage Investment Services Corporation 2 2.63% $3,790
SENTE MORTGAGE, INC. 1 4.00% $10,912
Servion, Inc. 1 3.00% $6,980
SOUTHWEST STAGE FUNDING, LLC 1 3.75% $6,062
UNION HOME MORTGAGE CORP. 1 3.25% $7,177
United Fidelity Funding Corp. 1 2.75% $4,854
ZILLOW HOME LOANS, LLC 1 3.00% $6,454
AMERISAVE MORTGAGE CORPORATION 1 3.25% $8,336
Bank of America 1 3.13% $10,774
BOKF 1 3.25% $7,020
BROKER SOLUTIONS, INC. 1 3.25% $5,911
CORNERSTONE HOME LENDING, INC. 1 3.25% $12,652
CRESCENT MORTGAGE COMPANY 1 2.63% $4,035
FBC MORTGAGE, LLC 1 3.13% $10,062
FIRST AMERICAN MORTGAGE, INC. 1 2.25% $8,067
Firstar Bank 1 2.75% $4,655
First Guaranty Mortgage Corporation 1 2.88% $4,820
FLAT BRANCH MORTGAGE, INC. 1 3.00% $7,303
F & M Bank 1 2.25% $7,678
Goldwater Bank, N.A. 1 3.00% $5,907
Great Plains National Bank 1 3.00% $6,389
GUARANTEED RATE, INC. 1 3.75% $8,094
LAKEVIEW LOAN SERVICING, LLC 1 2.88% $7,633
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $8,013
Mr. Cooper ( Nationstar Mortgage ) 1 3.25% $2,896
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.88% $21,440
NEWREZ LLC 1 2.88% $4,457
OKLAHOMA'S 1 3.25% $6,421
Paramount Residential Mortgage Group, Inc. 1 3.63% $7,945
Peoples Bank 1 3.75% $8,441
PLANET HOME LENDING, LLC 1 2.75% $3,790

The top Stillwater FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 FHA loans originated. Their average total fees are $7,211, which is $288 higher than the next largest lender, INTERLINC MORTGAGE SERVICES, LLC.

The lowest fee Stillwater FHA lenders (with over 10 loans originated) are Stride Bank ($6,651), INTERLINC MORTGAGE SERVICES, LLC ($6,923), BancFirst ($7,050), QUICKEN LOANS, LLC ($7,211) and .

The lowest rate Stillwater FHA lenders (with over 10 loans originated) are BancFirst (2.82%), QUICKEN LOANS, LLC (2.83%), Stride Bank (3.43%), INTERLINC MORTGAGE SERVICES, LLC (3.45%) and .

Stillwater FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Stillwater (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 $177,525 (11.0%) $238,269 (25.0%) 0.00 269
2018-02-01 $183,450 (11.2%) $234,967 (21.8%) 0.00 291
2018-03-01 $179,999 (7.8%) $235,392 (18.0%) 0.00 320
2018-04-01 $192,250 (16.5%) $249,860 (18.8%) 0.00 293
2018-05-01 $194,000 (15.8%) $252,667 (20.0%) 0.00 295
2018-06-01 $189,700 (12.5%) $245,827 (15.5%) 0.00 313
2018-07-01 $194,950 (14.8%) $247,915 (17.2%) 0.00 350
2018-08-01 $189,675 (13.2%) $246,475 (13.2%) 0.00 346
2018-09-01 $189,900 (13.4%) $240,328 (6.8%) 0.00 329
2018-10-01 $181,875 (7.3%) $235,453 (-0.2%) 0.00 323
2018-11-01 $179,998 (3.2%) $236,481 (-0.3%) 0.00 330
2018-12-01 $179,900 (3.4%) $231,636 (-2.1%) 0.00 310
2019-01-01 $187,850 (5.8%) $234,772 (-1.5%) 0.00 294
2019-02-01 $189,900 (3.5%) $240,648 (2.4%) 0.00 304
2019-03-01 $194,186 (7.9%) $246,963 (4.9%) 0.00 321
2019-04-01 $196,586 (2.3%) $256,595 (2.7%) 0.00 332
2019-05-01 $191,000 (-1.6%) $261,167 (3.4%) 0.00 334
2019-06-01 $189,900 (0.1%) $255,223 (3.8%) 0.00 335
2019-07-01 $179,925 (-7.7%) $246,149 (-0.7%) 0.00 316
2019-08-01 $182,273 (-3.9%) $250,694 (1.7%) 0.00 319
2019-09-01 $180,432 (-5.0%) $247,306 (2.9%) 0.00 330
2019-10-01 $179,205 (-1.5%) $245,018 (4.1%) 0.00 339
2019-11-01 $175,000 (-2.8%) $245,882 (4.0%) 0.00 322
2019-12-01 $173,975 (-3.3%) $247,073 (6.7%) 0.00 289
2020-01-01 $172,375 (-8.2%) $243,401 (3.7%) 0.00 267
2020-02-01 $174,950 (-7.9%) $251,038 (4.3%) 0.00 275
2020-03-01 $195,450 (0.7%) $255,275 (3.4%) 0.00 295
2020-04-01 $199,850 (1.7%) $261,993 (2.1%) 0.00 278
2020-05-01 $210,000 (10.0%) $271,992 (4.2%) 0.00 268
2020-06-01 $202,450 (6.6%) $269,585 (5.6%) 0.00 265
2020-07-01 $205,500 (14.2%) $273,649 (11.2%) 0.00 232
2020-08-01 $209,900 (15.2%) $278,129 (10.9%) 0.00 214
2020-09-01 $203,100 (12.6%) $271,076 (9.6%) 0.00 209
2020-10-01 $189,900 (6.0%) $261,089 (6.6%) 0.00 197
2020-11-01 $187,875 (7.4%) $257,818 (4.9%) 0.00 170
2020-12-01 $190,225 (9.3%) $271,705 (10.0%) 0.00 160
2021-01-01 $199,900 (16.0%) $270,225 (11.0%) 0.00 134
2021-02-01 $215,000 (22.9%) $262,521 (4.6%) 0.00 130
2021-03-01 $196,750 (0.7%) $260,546 (2.1%) 0.00 106
2021-04-01 $193,166 (-3.3%) $274,923 (4.9%) 0.00 97
2021-05-01 $195,245 (-7.0%) $255,546 (-6.1%) 0.00 105
2021-06-01 $202,500 (0.0%) $289,152 (7.3%) 0.00 103
2021-07-01 $215,000 (4.6%) $282,955 (3.4%) 0.00 141
2021-08-01 $167,500 (-20.2%) $245,448 (-11.8%) 0.00 183
2021-09-01 $191,018 (-6.0%) $259,787 (-4.2%) 0.00 171
2021-10-01 $185,000 (-2.6%) $285,334 (9.3%) 0.00 171
2021-11-01 $177,225 (-5.7%) $279,846 (8.5%) 0.00 162
2021-12-01 $174,950 (-8.0%) $276,857 (1.9%) 0.00 145
2022-01-01 $173,700 (-13.1%) $279,637 (3.5%) 0.00 116
2022-02-01 $178,450 (-17.0%) $336,121 (28.0%) 0.00 81
2022-03-01 $246,850 (25.5%) $391,892 (50.4%) 0.00 83
2022-04-01 $251,633 (30.3%) $389,833 (41.8%) 0.00 91
2022-05-01 $236,200 (21.0%) $343,482 (34.4%) 0.00 100
2022-06-01 $233,750 (15.4%) $340,723 (17.8%) 0.00 108
2022-07-01 $260,500 (21.2%) $377,302 (33.3%) 0.00 142
2022-08-01 $285,669 (70.6%) $402,957 (64.2%) 0.00 139
2022-09-01 $252,343 (32.1%) $383,902 (47.8%) 0.00 143
2022-10-01 $245,000 (32.4%) $343,112 (20.3%) 0.00 158
2022-11-01 $255,069 (43.9%) $349,383 (24.9%) 0.00 155
Stillwater's median listing price for 2022-11-01 was $255,069, a difference of $77,844 (43.9%) versus the prior year and $10,069 versus the prior month.

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

Stillwater's average listing price for 2022-11-01 was $349,383, a difference of $69,537 (24.9%) versus the prior year and $6,271 versus the prior month.

For the 2022-11-01 period, Stillwater had 155 MLS listings, a difference of -3 listings (-2%) versus the prior month and -7 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Stillwater (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,751 sqft
2018-02-01 0 days 1,770 sqft
2018-03-01 0 days 1,818 sqft
2018-04-01 0 days 1,842 sqft
2018-05-01 0 days 1,900 sqft
2018-06-01 0 days 1,847 sqft
2018-07-01 0 days 1,878 sqft
2018-08-01 0 days 1,842 sqft
2018-09-01 0 days 1,813 sqft
2018-10-01 0 days 1,776 sqft
2018-11-01 0 days 1,823 sqft
2018-12-01 0 days 1,746 sqft
2019-01-01 0 days 1,749 sqft
2019-02-01 0 days 1,807 sqft
2019-03-01 0 days 1,841 sqft
2019-04-01 0 days 1,875 sqft
2019-05-01 0 days 1,893 sqft
2019-06-01 0 days 1,864 sqft
2019-07-01 0 days 1,797 sqft
2019-08-01 0 days 1,797 sqft
2019-09-01 0 days 1,787 sqft
2019-10-01 0 days 1,780 sqft
2019-11-01 0 days 1,780 sqft
2019-12-01 0 days 1,811 sqft
2020-01-01 0 days 1,791 sqft
2020-02-01 0 days 1,772 sqft
2020-03-01 0 days 1,829 sqft
2020-04-01 0 days 1,879 sqft
2020-05-01 0 days 1,917 sqft
2020-06-01 0 days 1,864 sqft
2020-07-01 0 days 1,869 sqft
2020-08-01 0 days 1,881 sqft
2020-09-01 0 days 1,802 sqft
2020-10-01 0 days 1,760 sqft
2020-11-01 0 days 1,722 sqft
2020-12-01 0 days 1,760 sqft
2021-01-01 0 days 1,806 sqft
2021-02-01 0 days 1,847 sqft
2021-03-01 0 days 1,767 sqft
2021-04-01 0 days 1,727 sqft
2021-05-01 0 days 1,548 sqft
2021-06-01 0 days 1,545 sqft
2021-07-01 0 days 1,713 sqft
2021-08-01 0 days 1,395 sqft
2021-09-01 0 days 1,528 sqft
2021-10-01 0 days 1,477 sqft
2021-11-01 0 days 1,434 sqft
2021-12-01 0 days 1,511 sqft
2022-01-01 0 days 1,458 sqft
2022-02-01 0 days 1,494 sqft
2022-03-01 0 days 1,778 sqft
2022-04-01 0 days 1,839 sqft
2022-05-01 0 days 1,655 sqft
2022-06-01 0 days 1,743 sqft
2022-07-01 0 days 1,966 sqft
2022-08-01 0 days 2,038 sqft
2022-09-01 0 days 1,917 sqft
2022-10-01 0 days 1,900 sqft
2022-11-01 0 days 1,916 sqft
Stillwater's median listing age (time on market) for 2022-11-01 was 0 days.

Stillwater's median square footage for active listings during the 2022-11-01 period was 1,916 sqft. One year prior, the average listing was 1,434 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).