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 45 lenders originated 167 FHA loans during 2024. The total origination value was $34,785,000, with an average FHA loan value of $208,293.

Stillwater FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Stillwater averaged 0.25% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Stillwater's average FHA mortgage closing costs are $7,435.

The average rate for the prior week (2025-06-13) was 6.93% and one month ago for the week of 2025-05-16, the average rate was 6.89%.

The average rate one year ago was 6.85%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.2%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Great Plains National Bank 7 6.66% $9,118
QUICKEN LOANS, LLC 7 6.57% $8,570
FREEDOM MORTGAGE CORPORATION 5 6.68% $9,688
UNITED WHOLESALE MORTGAGE, LLC 5 6.35% $8,976
BancFirst 5 6.85% $9,412
SENTE MORTGAGE, INC. 5 7.18% $12,834
Arvest Bank 4 6.41% $8,598
RCB Bank 4 6.03% $6,353
PENNYMAC LOAN SERVICES, LLC 4 6.53% $8,270
CROSSCOUNTRY MORTGAGE, LLC 3 6.75% $9,877
First United Bank and Trust Company 3 6.54% $11,562
FLAT BRANCH MORTGAGE, INC. 3 6.67% $7,302
ASSOCIATED MORTGAGE CORPORATION 3 6.83% $7,914
CWM PARTNERS, L.P. 3 6.21% $10,282
Nations Lending Corporation 2 6.00% $10,643
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $17,355
AmeriHome Mortgage Company, LLC 2 6.94% $7,716
BOKF 2 6.88% $10,217
Mr. Cooper ( Nationstar Mortgage ) 2 7.00% $14,632
PLAZA HOME MORTGAGE, INC. 2 6.44% $9,815
Stride Bank 1 7.13% $11,811
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $14,124
SWBC MORTGAGE CORPORATION 1 7.25% $3,040
TOWNE MORTGAGE COMPANY 1 6.25% $6,808
AMERICAN HOMESTAR MORTGAGE, L.L.C. 1 5.75% $10,603
V.I.P. MORTGAGE, INC. 1 6.25% $11,197
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $12,892
Blue Ridge Bank 1 6.49% $11,045
BROKER SOLUTIONS, INC. 1 7.75% $5,724
CARDINAL FINANCIAL 1 7.25% $10,901
Chickasaw Community Bank 1 6.63% $9,103
CMG MORTGAGE, INC. 1 5.75% $10,157
CORNERSTONE HOME LENDING, INC. 1 5.75% $16,497
Flagstar Bank, FSB 1 6.25% $9,763
GARDNER FINANCIAL SERVICES, LTD. 1 6.63% $20,822
GENEVA FINANCIAL, LLC 1 7.75% $6,604
GUARANTEED RATE, INC. 1 6.25% $11,087
GUILD MORTGAGE COMPANY 1 6.63% $7,811
JPMorgan Chase Bank 1 7.63% $6,453
LOANPAL, LLC 1 6.75% $8,202
Magnolia Bank 1 6.63% $7,296
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $8,140
ONY GLO, INC. 1 6.75% $17,006
Plains Commerce Bank 1 7.25% $9,759
Regent Financial Group, Inc. 1 6.75% $12,027

The top Stillwater FHA lender as defined by loan originations is Great Plains National Bank, with 7 FHA loans originated. Their average total fees are $9,118, which is $548 higher 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

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).