Tulsa FHA Loans

TULSA, 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.

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).