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 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).