Stillwater FHA Loan Rates, Closing Costs & Stats

Stillwater, 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.

    Stillwater's 35 lenders originated 110 FHA loans during 2023. The total origination value was $22,460,000, with an average FHA loan value of $204,182.

    Stillwater FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Stillwater averaged 6.15% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Stillwater's average FHA mortgage closing costs are $7,051.

    The average rate for the prior week (2024-12-06) was 6.22% and one month ago for the week of 2024-11-08, the average rate was 6.28%.

    The average rate one year ago was 6.99%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AMCAP MORTGAGE, LTD. 9 6.49% $7,628
    QUICKEN LOANS, LLC 9 6.30% $9,773
    BancFirst 7 6.71% $8,486
    SENTE MORTGAGE, INC. 7 6.91% $11,042
    Simmons Bank 5 6.75% $6,224
    First United Bank and Trust Company 4 6.81% $8,669
    Stride Bank 4 6.88% $7,993
    CORNERSTONE HOME LENDING, INC. 3 6.67% $12,808
    PENNYMAC LOAN SERVICES, LLC 3 6.38% $12,566
    Great Plains National Bank 3 6.13% $10,148
    ZILLOW HOME LOANS, LLC 2 7.13% $10,772
    American Mortgage Bank, LLC 2 7.13% $14,506
    Chickasaw Community Bank 2 6.56% $12,039
    FINANCIAL CONCEPTS MORTGAGE, LLC 2 6.50% $3,462
    F & M Bank 2 6.56% $5,843
    Gateway First Bank 2 6.56% $16,596
    GUILD MORTGAGE COMPANY 2 6.44% $14,807
    THE MORTGAGE LINK, INC. 2 7.13% $7,938
    Mortgage Investment Services Corporation 1 6.13% $5,247
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.13% $8,283
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $10,201
    OKLAHOMA'S 1 6.75% $7,547
    OPEN MORTGAGE, LLC 1 6.00% $17,109
    Flagstar Bank, FSB 1 5.88% $9,211
    CARDINAL FINANCIAL 1 5.75% $10,150
    RCB Bank 1 6.75% $6,769
    BELEM SERVICING LLC 1 6.25% $6,284
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $10,290
    AMERICAN FINANCING CORPORATION 1 7.75% $8,567
    SWBC MORTGAGE CORPORATION 1 7.25% $3,270
    American Bank of Oklahoma 1 6.50% $9,540
    TOWNE MORTGAGE COMPANY 1 6.50% $18,004
    United Fidelity Funding Corp. 1 6.13% $7,741
    GUARANTY HOME MORTGAGE CORPORATION 1 5.50% $18,595
    UNITED WHOLESALE MORTGAGE, LLC 1 6.37% $12,943

    The top Stillwater FHA lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 9 FHA loans originated. Their average total fees are $7,628, which is $2,144 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Stillwater FHA lenders (with over 10 loans originated) are .

    The lowest rate Stillwater FHA lenders (with over 10 loans originated) are .

    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
    STILLWATER, OK PAYNE 2023 $472,030 $604,400 $730,525 $907,900

    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 $179,950 (7.7%) $235,392 (17.8%) 0.00 319
    2018-04-01 $191,600 (16.1%) $249,013 (18.2%) 0.00 292
    2018-05-01 $193,500 (15.5%) $251,836 (19.4%) 0.00 294
    2018-06-01 $189,500 (12.2%) $245,050 (14.9%) 0.00 312
    2018-07-01 $194,925 (14.7%) $247,206 (16.8%) 0.00 349
    2018-08-01 $189,550 (13.2%) $245,768 (12.8%) 0.00 345
    2018-09-01 $189,900 (13.4%) $239,567 (6.5%) 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%) 0.00 320
    2019-04-01 $196,586 (2.6%) $256,595 (3.0%) 0.00 331
    2019-05-01 $191,000 (-1.3%) $261,167 (3.7%) 0.00 333
    2019-06-01 $189,900 (0.2%) $255,223 (4.2%) 0.00 334
    2019-07-01 $179,950 (-7.7%) $246,472 (-0.3%) 0.00 315
    2019-08-01 $182,273 (-3.8%) $248,753 (1.2%) 0.00 317
    2019-09-01 $180,432 (-5.0%) $245,424 (2.5%) 0.00 328
    2019-10-01 $179,205 (-1.5%) $243,201 (3.3%) 0.00 337
    2019-11-01 $175,000 (-2.8%) $243,934 (3.2%) 0.00 320
    2019-12-01 $173,975 (-3.3%) $244,901 (5.7%) 0.00 287
    2020-01-01 $172,375 (-8.2%) $240,626 (2.5%) 0.00 265
    2020-02-01 $174,950 (-7.9%) $248,863 (3.4%) 0.00 273
    2020-03-01 $195,450 (0.7%) $253,298 (2.6%) 0.00 293
    2020-04-01 $199,850 (1.7%) $259,909 (1.3%) 0.00 276
    2020-05-01 $210,000 (10.0%) $269,978 (3.4%) 0.00 265
    2020-06-01 $202,475 (6.6%) $268,821 (5.3%) 0.00 263
    2020-07-01 $206,750 (14.9%) $273,466 (11.0%) 0.00 230
    2020-08-01 $209,900 (15.2%) $276,811 (11.3%) 0.00 212
    2020-09-01 $203,100 (12.6%) $270,856 (10.4%) 0.00 207
    2020-10-01 $189,900 (6.0%) $260,752 (7.2%) 0.00 195
    2020-11-01 $187,875 (7.4%) $257,394 (5.5%) 0.00 168
    2020-12-01 $190,225 (9.3%) $271,415 (10.8%) 0.00 158
    2021-01-01 $199,900 (16.0%) $269,871 (12.2%) 0.00 132
    2021-02-01 $215,000 (22.9%) $262,021 (5.3%) 0.00 128
    2021-03-01 $196,750 (0.7%) $259,941 (2.6%) 0.00 104
    2021-04-01 $193,166 (-3.3%) $274,535 (5.6%) 0.00 95
    2021-05-01 $195,245 (-7.0%) $254,774 (-5.6%) 0.00 103
    2021-06-01 $202,500 (0.0%) $289,043 (7.5%) 0.00 101
    2021-07-01 $215,000 (4.0%) $282,781 (3.4%) 0.00 139
    2021-08-01 $167,500 (-20.2%) $244,507 (-11.7%) 0.00 182
    2021-09-01 $190,145 (-6.4%) $259,119 (-4.3%) 0.00 169
    2021-10-01 $185,000 (-2.6%) $285,232 (9.4%) 0.00 169
    2021-11-01 $177,225 (-5.7%) $279,678 (8.7%) 0.00 160
    2021-12-01 $174,950 (-8.0%) $276,620 (1.9%) 0.00 143
    2022-01-01 $173,700 (-13.1%) $279,390 (3.5%) 0.00 114
    2022-02-01 $178,450 (-17.0%) $337,212 (28.7%) 0.00 79
    2022-03-01 $246,850 (25.5%) $394,394 (51.7%) 0.00 81
    2022-04-01 $251,633 (30.3%) $391,928 (42.8%) 0.00 89
    2022-05-01 $236,200 (21.0%) $344,442 (35.2%) 0.00 98
    2022-06-01 $233,750 (15.4%) $341,601 (18.2%) 0.00 106
    2022-07-01 $260,500 (21.2%) $378,452 (33.8%) 0.00 140
    2022-08-01 $284,338 (69.8%) $401,725 (64.3%) 0.00 136
    2022-09-01 $251,843 (32.5%) $382,480 (47.6%) 0.00 140
    2022-10-01 $245,000 (32.4%) $343,727 (20.5%) 0.00 156
    2022-11-01 $255,069 (43.9%) $350,091 (25.2%) 0.00 153
    2022-12-01 $251,340 (43.7%) $356,110 (28.7%) 0.00 137
    2023-01-01 $252,170 (45.2%) $365,923 (31.0%) 0.00 134
    2023-02-01 $241,853 (35.5%) $360,840 (7.0%) 0.00 124
    2023-03-01 $247,486 (0.3%) $353,764 (-10.3%) 0.00 127
    2023-04-01 $250,000 (-0.7%) $347,010 (-11.5%) 0.00 147
    2023-05-01 $272,450 (15.4%) $349,371 (1.4%) 0.00 174
    2023-06-01 $274,950 (17.6%) $340,020 (-0.5%) 0.00 160
    2023-07-01 $253,042 (-2.9%) $325,448 (-14.0%) 0.00 188
    2023-08-01 $267,125 (-6.1%) $319,615 (-20.4%) 0.00 196
    2023-09-01 $240,000 (-4.7%) $314,700 (-17.7%) 0.00 212
    2023-10-01 $237,175 (-3.2%) $304,199 (-11.5%) 0.00 216
    2023-11-01 $249,350 (-2.2%) $340,735 (-2.7%) 0.00 212
    2023-12-01 $239,900 (-4.6%) $337,550 (-5.2%) 0.00 208
    2024-01-01 $231,371 (-8.3%) $334,865 (-8.5%) 0.00 207
    2024-02-01 $236,504 (-2.2%) $357,498 (-0.9%) 0.00 209
    2024-03-01 $240,000 (-3.0%) $369,940 (4.6%) 0.00 217
    2024-04-01 $264,495 (5.8%) $416,794 (20.1%) 0.00 214
    2024-05-01 $256,764 (-5.8%) $378,638 (8.4%) 0.00 235
    2024-06-01 $256,900 (-6.6%) $387,236 (13.9%) 0.00 258
    2024-07-01 $259,945 (2.7%) $393,782 (21.0%) 0.00 261
    2024-08-01 $256,574 (-4.0%) $386,653 (21.0%) 0.00 260
    2024-09-01 $254,745 (6.1%) $387,020 (23.0%) 0.00 277
    2024-10-01 $253,994 (7.1%) $389,686 (28.1%) 0.00 265
    2024-11-01 $259,990 (4.3%) $387,337 (13.7%) 0.00 260
    Stillwater's median listing price for 2024-11-01 was $259,990, a difference of $10,640 (4.3%) versus the prior year and $5,996 versus the prior month.

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

    Stillwater's average listing price for 2024-11-01 was $387,337, a difference of $46,602 (13.7%) versus the prior year and $-2,349 versus the prior month.

    For the 2024-11-01 period, Stillwater had 260 MLS listings, a difference of -5 listings (-2%) versus the prior month and 48 listings (23%) 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 1,839 sqft
    2018-05-01 0 days 1,897 sqft
    2018-06-01 0 days 1,842 sqft
    2018-07-01 0 days 1,875 sqft
    2018-08-01 0 days 1,841 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 1,815 sqft
    2019-03-01 0 days 1,845 sqft
    2019-04-01 0 days 1,878 sqft
    2019-05-01 0 days 1,894 sqft
    2019-06-01 0 days 1,864 sqft
    2019-07-01 0 days 1,798 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 1,865 sqft
    2020-07-01 0 days 1,872 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 1,391 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 2,041 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
    2022-12-01 0 days 1,884 sqft
    2023-01-01 0 days 1,869 sqft
    2023-02-01 0 days 1,840 sqft
    2023-03-01 0 days 1,818 sqft
    2023-04-01 0 days 1,718 sqft
    2023-05-01 0 days 1,753 sqft
    2023-06-01 0 days 1,768 sqft
    2023-07-01 0 days 1,661 sqft
    2023-08-01 0 days 1,698 sqft
    2023-09-01 0 days 1,665 sqft
    2023-10-01 0 days 1,633 sqft
    2023-11-01 0 days 1,691 sqft
    2023-12-01 0 days 1,690 sqft
    2024-01-01 0 days 1,628 sqft
    2024-02-01 0 days 1,676 sqft
    2024-03-01 0 days 1,676 sqft
    2024-04-01 0 days 1,768 sqft
    2024-05-01 0 days 1,747 sqft
    2024-06-01 0 days 1,775 sqft
    2024-07-01 0 days 1,800 sqft
    2024-08-01 0 days 1,758 sqft
    2024-09-01 0 days 1,792 sqft
    2024-10-01 0 days 1,776 sqft
    2024-11-01 0 days 1,837 sqft
    Stillwater's median listing age (time on market) for 2024-11-01 was 0 days.

    Stillwater's median square footage for active listings during the 2024-11-01 period was 1,837 sqft. One year prior, the average listing was 1,691 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).