Tulsa FHA Loans

TULSA, 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.

    Tulsa's 148 lenders originated 5,109 FHA loans during 2021. The total origination value was $939,595,000, with an average FHA loan value of $183,910.

    Tulsa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tulsa averaged 5.32% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.55% and one month ago for the week of 2022-04-08, the average rate was 4.92%.

    The average rate one year ago was 3.13%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.01%.

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

    Tulsa FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tulsa level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 407 2.78% $6,359
    ASSOCIATED MORTGAGE CORPORATION 341 3.10% $7,498
    FLAT BRANCH MORTGAGE, INC. 310 3.31% $7,084
    First United Bank and Trust Company 300 3.03% $8,116
    Arvest Bank 211 2.90% $6,984
    United Fidelity Funding Corp. 174 3.15% $8,816
    US MORTGAGE CORPORATION 161 3.18% $7,024
    BOKF 146 3.11% $6,995
    Waterstone Mortgage Corporation 141 3.36% $8,042
    Gateway First Bank 132 3.37% $6,459
    CORNERSTONE HOME LENDING, INC. 116 3.27% $8,653
    FREEDOM MORTGAGE CORPORATION 109 3.01% $4,743
    CALIBER HOME LOANS, INC. 109 2.77% $6,557
    LAKEVIEW LOAN SERVICING, LLC 105 3.20% $5,080
    EVERETT FINANCIAL, INC. 96 3.81% $6,784
    Mr. Cooper ( Nationstar Mortgage ) 87 3.49% $3,136
    Chickasaw Community Bank 86 2.97% $7,086
    American Bank of Oklahoma 82 2.78% $7,669
    CROSSCOUNTRY MORTGAGE, LLC 70 3.36% $9,031
    GUILD MORTGAGE COMPANY 69 2.96% $9,064
    LOANDEPOT.COM, LLC 58 3.25% $8,085
    PENNYMAC LOAN SERVICES, LLC 58 3.27% $6,032
    OPEN MORTGAGE, LLC 58 3.11% $7,640
    FBC MORTGAGE, LLC 57 3.22% $7,750
    BancFirst 45 3.07% $6,753
    GUARANTEED RATE, INC. 43 3.07% $8,907
    Stride Bank 40 3.31% $7,247
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 40 3.29% $7,196
    Regent Financial Group, Inc. 40 3.11% $8,119
    HOMEBRIDGE FINANCIAL SERVICES, INC. 38 2.58% $5,687
    BROKER SOLUTIONS, INC. 38 3.26% $8,356
    VILLAGE CAPITAL & INVESTMENT LLC 35 2.99% $2,120
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 35 3.42% $9,086
    MID AMERICA MORTGAGE, INC. 33 3.21% $5,295
    Firstar Bank 27 2.91% $7,043
    UNION HOME MORTGAGE CORP. 23 3.46% $6,966
    RCB Bank 21 3.23% $7,210
    First Guaranty Mortgage Corporation 20 3.23% $6,876
    AMERISAVE MORTGAGE CORPORATION 18 3.27% $8,036
    Carrington Mortgage Services, LLC 17 3.30% $7,772
    AMCAP MORTGAGE, LTD. 16 3.84% $7,567
    NEWREZ LLC 16 2.99% $5,292
    INTERLINC MORTGAGE SERVICES, LLC 15 3.50% $7,660
    SpiritBank 15 3.12% $7,979
    CMG MORTGAGE, INC. 15 3.23% $7,417
    MORTGAGE SOLUTIONS OF COLORADO, LLC 14 3.39% $8,649
    Paramount Residential Mortgage Group, Inc. 14 3.37% $9,395
    Servion, Inc. 13 3.22% $6,561
    SOUTHWEST FUNDING, LP 13 3.65% $60,610
    Great Plains National Bank 13 2.80% $8,271
    UNITED WHOLESALE MORTGAGE, LLC 12 2.71% $8,919
    First Oklahoma Mortgage, LLC 12 2.66% $7,012
    AMERICAN FINANCIAL NETWORK, INC. 11 3.24% $10,874
    PLANET HOME LENDING, LLC 11 2.94% $5,171
    MOVEMENT MORTGAGE, LLC 11 3.48% $5,958
    AMERICAN FINANCING CORPORATION 10 2.89% $7,052
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.08% $7,871
    Mortgage Research Center, LLC 9 3.19% $5,946
    HOME POINT FINANCIAL CORPORATION 8 2.75% $5,463
    Bank of America 8 2.91% $5,502
    Citizens Bank 7 2.88% $6,472
    AMERICAN PACIFIC MORTGAGE CORPORATION 7 3.50% $9,099
    HOMESIDE FINANCIAL, LLC 6 3.17% $8,377
    PLAZA HOME MORTGAGE, INC. 6 2.96% $6,361
    International Bank of Commerce 6 3.33% $7,977
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.13% $7,027
    MidFirst Bank 5 2.73% $6,007
    Armstrong Bank 5 2.80% $6,571
    AMERICAN FINANCIAL RESOURCES, INC. 5 2.83% $8,241
    GUARANTY HOME MORTGAGE CORPORATION 5 3.13% $6,688
    AMERICAN HOMESTAR MORTGAGE, L.L.C. 5 3.40% $10,828
    Mortgage Investment Services Corporation 5 3.25% $5,945
    MORIA DEVELOPMENT, INC. 5 3.75% $8,075
    OCEANSIDE MORTGAGE COMPANY 5 2.92% $2,302
    JPMorgan Chase Bank 4 2.88% $5,765
    AmeriHome Mortgage Company, LLC 4 3.37% $7,298
    InterContinental Capital Group, Inc 4 2.94% $8,384
    ACADEMY MORTGAGE CORPORATION 4 3.00% $6,238
    Sierra Pacific Mortgage Company, Inc. 4 3.06% $8,920
    TruHome Solutions, LLC 4 3.09% $5,778
    TTCU Federal Credit Union 4 2.75% $6,659
    SOUTHWEST STAGE FUNDING, LLC 3 2.75% $4,054
    SOVEREIGN LENDING GROUP INCORPORATED 3 3.13% $7,712
    RUOFF MORTGAGE COMPANY, INC. 3 2.96% $7,349
    Manufacturers and Traders Trust Company 3 3.00% $8,193
    GSF Mortgage Corporation 3 3.83% $9,689
    Equity Prime Mortgage LLC 3 3.29% $9,300
    SIRVA MORTGAGE, INC. 3 3.46% $8,166
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 3.83% $9,659
    Goldwater Bank, N.A. 3 3.13% $11,889
    LOANPAL, LLC 3 2.58% $7,211
    DHI MORTGAGE COMPANY, LTD. 3 2.67% $7,448
    NATIONS DIRECT MORTGAGE, LLC 3 3.46% $12,556
    Nations Lending Corporation 3 3.58% $11,478
    JLB CORPORATION 3 3.17% $8,111
    Hometown Lenders, Inc. 3 3.32% $6,607
    CIS Financial Services, Inc. 2 2.75% $14,690
    MASON MCDUFFIE MORTGAGE CORPORATION 2 3.56% $6,339
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 3.13% $7,053
    UNITED 2 2.69% $7,334
    PHH Mortgage Corporation 2 3.13% $3,863
    FINANCE OF AMERICA MORTGAGE LLC 2 2.69% $7,293
    LIBERTY HOME MORTGAGE CORPORATION 2 2.88% $8,903
    ZILLOW HOME LOANS, LLC 2 3.63% $7,172
    Commerce Bank 1 2.63% $5,234
    CLEARPATH LENDING 1 2.75% $7,142
    SFMC, LP 1 2.75% $9,810
    Affiliated Bank 1 3.25% $6,668
    Simmons Bank 1 4.00% $6,953
    City Bank 1 3.00% $8,241
    Southwest Missouri Bank 1 2.25% $5,985
    STEARNS LENDING, LLC 1 3.63% $7,774
    BNC National Bank 1 2.50% $7,362
    SUMMIT FUNDING, INC. 1 3.25% $8,608
    The Central Trust Bank 1 2.63% $9,099
    The Federal Savings Bank 1 2.88% $7,368
    Wyndham Capital Mortgage, Inc. 1 2.88% $9,090
    UMB Bank 1 2.75% $10,356
    Blue Ridge Bank 1 3.00% $9,035
    BECKAM FUNDING CORP. 1 3.50% $8,846
    BAY EQUITY LLC 1 3.38% $8,737
    U.S. Bank 1 4.63% $9,922
    Bank of England 1 3.00% $7,147
    ARC HOME LLC 1 2.50% $8,879
    LEADERONE FINANCIAL CORPORATION 1 3.25% $5,907
    UNITED MORTGAGE CORP. 1 3.25% $5,307
    KELLER MORTGAGE, LLC 1 3.13% $5,071
    INB 1 2.38% $7,683
    MORTGAGE FINANCIAL SERVICES, LLC 1 3.25% $9,422
    Mortgage Lenders Investment Trading Corporation 1 3.25% $2,974
    Hometown Equity Mortgage, LLC 1 2.75% $10,279
    Gulf Coast Bank and Trust Company 1 2.63% $6,575
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.13% $7,571
    NBKC BANK 1 2.75% $7,292
    Neighborhood Loans, Inc. 1 3.00% $5,941
    Glacier Bank 1 2.50% $7,845
    North American Savings Bank, F.S.B. 1 2.50% $10,408
    F & M Bank 1 3.13% $5,566
    First Home Bank 1 2.75% $7,259
    Paramount Bank 1 2.63% $7,268
    FIRST AMERICAN MORTGAGE, INC. 1 2.88% $3,279
    Peoples Bank 1 3.75% $9,085
    Plains Commerce Bank 1 2.63% $9,293
    DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $7,920
    PREMIA MORTGAGE, LLC 1 2.25% $6,224
    DAS Acquisition Company, LLC 1 4.50% $5,927
    Prosperity Home Mortgage, LLC 1 3.13% $6,315
    COMMUNICATION 1 3.13% $5,060

    The top Tulsa FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 407 FHA loans originated. Their average total fees are $6,359, which is $1,139 lower than the next largest lender, ASSOCIATED MORTGAGE CORPORATION.

    The lowest fee Tulsa FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,120), Mr. Cooper ( Nationstar Mortgage ) ($3,136), FREEDOM MORTGAGE CORPORATION ($4,743), LAKEVIEW LOAN SERVICING, LLC ($5,080) and PLANET HOME LENDING, LLC ($5,171).

    The lowest rate Tulsa FHA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. (2.58%), First Oklahoma Mortgage, LLC (2.66%), UNITED WHOLESALE MORTGAGE, LLC (2.71%), CALIBER HOME LOANS, INC. (2.77%) and QUICKEN LOANS, LLC (2.78%).

    Tulsa FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TULSA, OK CREEK 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK OKMULGEE 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK OSAGE 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK PAWNEE 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK ROGERS 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK TULSA 2022 $420,680 $538,650 $651,050 $809,150
    TULSA, OK WAGONER 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tulsa (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 $203,750 (3.7%) $272,080 (1.9%) 0.75 3,984
    2018-02-01 $207,450 (3.8%) $273,062 (0.4%) 0.75 3,893
    2018-03-01 $215,000 (5.5%) $284,653 (3.1%) 0.74 3,895
    2018-04-01 $220,500 (5.0%) $291,600 (3.2%) 0.74 3,913
    2018-05-01 $219,900 (2.5%) $291,570 (2.1%) 0.73 4,076
    2018-06-01 $215,000 (-1.9%) $287,395 (-0.3%) 0.72 4,294
    2018-07-01 $215,000 (0.0%) $289,325 (2.5%) 0.72 4,421
    2018-08-01 $214,900 (-2.0%) $288,334 (0.8%) 0.72 4,475
    2018-09-01 $214,900 (2.3%) $286,360 (1.8%) 0.72 4,465
    2018-10-01 $214,650 (2.2%) $286,017 (1.4%) 0.72 4,319
    2018-11-01 $219,150 (5.0%) $289,556 (3.4%) 0.73 4,062
    2018-12-01 $215,000 (5.1%) $287,367 (5.3%) 0.74 3,921
    2019-01-01 $216,000 (6.0%) $287,651 (5.7%) 0.74 3,673
    2019-02-01 $221,443 (6.8%) $296,741 (8.7%) 0.74 3,529
    2019-03-01 $229,186 (6.6%) $305,219 (7.2%) 0.75 3,416
    2019-04-01 $233,686 (6.0%) $312,787 (7.3%) 0.74 3,360
    2019-05-01 $239,900 (9.1%) $326,758 (12.1%) 0.74 3,357
    2019-06-01 $239,690 (11.5%) $329,190 (14.5%) 0.74 3,461
    2019-07-01 $241,895 (12.5%) $331,354 (14.5%) 0.75 3,483
    2019-08-01 $241,186 (12.2%) $327,568 (13.6%) 0.76 3,375
    2019-09-01 $242,686 (12.9%) $329,642 (15.1%) 0.77 3,211
    2019-10-01 $248,950 (16.0%) $333,927 (16.8%) 0.79 3,204
    2019-11-01 $248,500 (13.4%) $329,555 (13.8%) 0.80 3,113
    2019-12-01 $249,725 (16.2%) $497,270 (73.0%) 0.83 2,928
    2020-01-01 $239,900 (11.1%) $319,607 (11.1%) 0.80 2,819
    2020-02-01 $245,000 (10.6%) $325,725 (9.8%) 0.79 2,684
    2020-03-01 $256,000 (11.7%) $334,241 (9.5%) 0.80 2,667
    2020-04-01 $261,700 (12.0%) $337,092 (7.8%) 0.82 2,643
    2020-05-01 $269,500 (12.3%) $351,628 (7.6%) 0.82 2,505
    2020-06-01 $282,450 (17.8%) $361,750 (9.9%) 0.82 2,274
    2020-07-01 $293,750 (21.4%) $382,464 (15.4%) 0.84 2,164
    2020-08-01 $282,000 (16.9%) $372,692 (13.8%) 0.81 2,015
    2020-09-01 $281,250 (15.9%) $372,851 (13.1%) 0.80 1,911
    2020-10-01 $275,000 (10.5%) $369,853 (10.8%) 0.79 1,897
    2020-11-01 $267,450 (7.6%) $371,379 (12.7%) 0.77 1,874
    2020-12-01 $270,512 (8.3%) $378,482 (-23.9%) 0.79 1,635
    2021-01-01 $269,500 (12.3%) $404,914 (26.7%) 0.79 1,351
    2021-02-01 $254,900 (4.0%) $379,044 (16.4%) 0.73 1,148
    2021-03-01 $289,450 (13.1%) $407,657 (22.0%) 0.81 1,014
    2021-04-01 $275,950 (5.5%) $386,912 (14.8%) 0.74 1,072
    2021-05-01 $275,000 (2.0%) $403,285 (14.7%) 0.72 1,077
    2021-06-01 $252,500 (-10.6%) $387,395 (7.1%) 0.66 1,203
    2021-07-01 $256,450 (-12.7%) $378,595 (-1.0%) 0.67 1,349
    2021-08-01 $265,000 (-6.0%) $369,027 (-1.0%) 0.70 1,514
    2021-09-01 $265,000 (-5.8%) $369,937 (-0.8%) 0.70 1,477
    2021-10-01 $265,000 (-3.6%) $378,587 (2.4%) 0.70 1,444
    2021-11-01 $255,000 (-4.7%) $376,411 (1.4%) 0.67 1,302
    2021-12-01 $252,791 (-6.6%) $368,374 (-2.7%) 0.67 1,102
    2022-01-01 $262,500 (-2.6%) $387,002 (-4.4%) 0.70 915
    2022-02-01 $275,037 (7.9%) $402,865 (6.3%) 0.70 821
    2022-03-01 $274,950 (-5.0%) $410,244 (0.6%) 0.68 752
    2022-04-01 $295,000 (6.9%) $415,725 (7.5%) 0.69 826
    Tulsa's median listing price for 2022-04-01 was $295,000, a difference of $19,050 (6.9%) versus the prior year and $20,050 versus the prior month.

    Tulsa's median listing price comes in at 69% of the national average.

    Tulsa's average listing price for 2022-04-01 was $415,725, a difference of $28,813 (7.5%) versus the prior year and $5,481 versus the prior month.

    For the 2022-04-01 period, Tulsa had 826 MLS listings, a difference of 74 listings (10%) versus the prior month and -246 listings (-23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tulsa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 68 days 2,094 sqft
    2018-02-01 65 days 2,098 sqft
    2018-03-01 52 days 2,182 sqft
    2018-04-01 50 days 2,208 sqft
    2018-05-01 47 days 2,199 sqft
    2018-06-01 50 days 2,176 sqft
    2018-07-01 58 days 2,177 sqft
    2018-08-01 58 days 2,155 sqft
    2018-09-01 60 days 2,136 sqft
    2018-10-01 65 days 2,125 sqft
    2018-11-01 65 days 2,148 sqft
    2018-12-01 67 days 2,128 sqft
    2019-01-01 71 days 2,118 sqft
    2019-02-01 60 days 2,160 sqft
    2019-03-01 54 days 2,219 sqft
    2019-04-01 51 days 2,250 sqft
    2019-05-01 50 days 2,296 sqft
    2019-06-01 53 days 2,261 sqft
    2019-07-01 57 days 2,276 sqft
    2019-08-01 57 days 2,277 sqft
    2019-09-01 58 days 2,280 sqft
    2019-10-01 60 days 2,326 sqft
    2019-11-01 58 days 2,295 sqft
    2019-12-01 63 days 2,280 sqft
    2020-01-01 71 days 2,231 sqft
    2020-02-01 63 days 2,214 sqft
    2020-03-01 51 days 2,265 sqft
    2020-04-01 53 days 2,274 sqft
    2020-05-01 56 days 2,296 sqft
    2020-06-01 53 days 2,341 sqft
    2020-07-01 52 days 2,424 sqft
    2020-08-01 50 days 2,364 sqft
    2020-09-01 50 days 2,356 sqft
    2020-10-01 49 days 2,290 sqft
    2020-11-01 50 days 2,233 sqft
    2020-12-01 58 days 2,260 sqft
    2021-01-01 65 days 2,212 sqft
    2021-02-01 64 days 2,092 sqft
    2021-03-01 49 days 2,267 sqft
    2021-04-01 43 days 2,139 sqft
    2021-05-01 39 days 2,171 sqft
    2021-06-01 38 days 2,029 sqft
    2021-07-01 38 days 2,022 sqft
    2021-08-01 38 days 2,020 sqft
    2021-09-01 41 days 1,986 sqft
    2021-10-01 45 days 1,991 sqft
    2021-11-01 46 days 1,935 sqft
    2021-12-01 51 days 1,950 sqft
    2022-01-01 54 days 1,970 sqft
    2022-02-01 44 days 2,005 sqft
    2022-03-01 41 days 1,944 sqft
    2022-04-01 33 days 2,024 sqft
    Tulsa's median listing age (time on market) for 2022-04-01 was 33 days. This is -23% shorter than the same period one year ago.

    Tulsa's median square footage for active listings during the 2022-04-01 period was 2,024 sqft. One year prior, the average listing was 2,139 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).