Tulsa FHA Loan Rates, Closing Costs & Stats

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 144 lenders originated 3,036 FHA loans during 2023. The total origination value was $740,180,000, with an average FHA loan value of $243,801.

Tulsa FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Tulsa averaged 6.86% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Tulsa's average FHA mortgage closing costs are $7,532.

The average rate for the prior week (2024-05-17) was 6.85% and one month ago for the week of 2024-04-19, the average rate was 6.77%.

The average rate one year ago was 6.3%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.8%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tulsa level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ASSOCIATED MORTGAGE CORPORATION 263 6.61% $11,397
FLAT BRANCH MORTGAGE, INC. 228 6.84% $9,225
QUICKEN LOANS, LLC 218 6.22% $10,078
First United Bank and Trust Company 172 6.43% $11,420
Arvest Bank 116 6.66% $9,123
THE MORTGAGE LINK, INC. 103 6.99% $10,733
BOKF 102 6.71% $9,310
UNITED WHOLESALE MORTGAGE, LLC 92 6.37% $11,898
CORNERSTONE HOME LENDING, INC. 78 6.77% $11,439
Waterstone Mortgage Corporation 77 6.83% $11,033
United Fidelity Funding Corp. 76 6.68% $10,301
US MORTGAGE CORPORATION 73 6.79% $11,831
EVERETT FINANCIAL, INC. 65 6.55% $9,347
OPEN MORTGAGE, LLC 59 6.43% $10,263
FREEDOM MORTGAGE CORPORATION 59 6.71% $13,423
CROSSCOUNTRY MORTGAGE, LLC 55 6.67% $11,785
Stride Bank 48 6.80% $10,043
Chickasaw Community Bank 39 6.69% $8,521
Gateway First Bank 39 6.78% $10,221
The Central Trust Bank 35 6.51% $9,614
DHI MORTGAGE COMPANY, LTD. 28 5.71% $8,588
LOANDEPOT.COM, LLC 27 6.50% $11,843
NEWREZ LLC 26 6.36% $10,663
American Bank of Oklahoma 26 6.49% $10,983
BROKER SOLUTIONS, INC. 25 6.68% $12,882
CARDINAL FINANCIAL 21 6.47% $12,092
AMERISAVE MORTGAGE CORPORATION 20 6.08% $13,880
UNION HOME MORTGAGE CORP. 20 6.75% $11,351
GUARANTEED RATE, INC. 20 6.49% $10,821
Firstar Bank 19 6.36% $8,798
PENNYMAC LOAN SERVICES, LLC 19 6.59% $11,468
BancFirst 17 6.91% $8,287
AMERICAN FINANCIAL NETWORK, INC. 17 7.36% $10,183
GUILD MORTGAGE COMPANY 16 6.66% $7,845
MID AMERICA MORTGAGE, INC. 16 7.42% $6,204
Carrington Mortgage Services, LLC 16 6.39% $12,264
MORTGAGE SOLUTIONS OF COLORADO, LLC 15 6.86% $13,640
FBC MORTGAGE, LLC 15 6.23% $11,734
CALCON MUTUAL MORTGAGE LLC 15 6.25% $14,737
SUCCESS MORTGAGE PARTNERS, INC. 14 6.85% $13,267
Regent Financial Group, Inc. 13 6.70% $9,333
Mr. Cooper ( Nationstar Mortgage ) 13 6.30% $15,005
PRIMELENDING, A PLAINSCAPITAL COMPANY 13 6.52% $10,886
LOANPAL, LLC 13 5.88% $11,354
AMCAP MORTGAGE, LTD. 13 7.08% $9,903
MUTUAL OF OMAHA MORTGAGE, INC. 11 6.47% $13,145
ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 6.52% $8,179
LAKEVIEW LOAN SERVICING, LLC 10 6.09% $13,131
AXIA FINANCIAL, LLC 9 6.31% $13,453
TJC Mortgage, Inc. 9 6.74% $8,569
PLAZA HOME MORTGAGE, INC. 9 6.17% $10,131
Bank of America 8 5.72% $5,919
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.25% $11,849
Citizens Bank 7 6.89% $10,070
ZILLOW HOME LOANS, LLC 7 6.48% $10,381
Equity Prime Mortgage LLC 7 7.09% $11,802
AMERICAN FINANCING CORPORATION 7 6.16% $11,383
PLANET HOME LENDING, LLC 7 6.27% $10,833
Mortgage Research Center, LLC 7 6.86% $7,456
Servion, Inc. 6 6.27% $9,803
JPMorgan Chase Bank 6 7.14% $6,775
VAN DYK MORTGAGE CORPORATION 6 7.06% $9,589
AmeriHome Mortgage Company, LLC 6 6.42% $9,521
SENTE MORTGAGE, INC. 6 6.67% $10,093
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.38% $12,154
Mabrey Bank 5 7.35% $9,242
RCB Bank 5 6.48% $7,159
Bank of England 4 6.69% $13,301
Barrington Bank & Trust Company, N.A. 4 6.25% $9,667
MICHIGAN MUTUAL, INC. 4 7.63% $15,165
Paramount Residential Mortgage Group, Inc. 4 6.37% $12,820
MOVEMENT MORTGAGE, LLC 4 7.31% $10,775
International Bank of Commerce 4 7.31% $8,646
POLARIS HOME FUNDING CORP. 4 6.28% $9,775
VILLAGE CAPITAL MORTGAGE 3 6.13% $13,156
CHURCHILL MORTGAGE CORPORATION 3 6.83% $8,918
Nations Lending Corporation 3 6.88% $10,518
M&T Bank 3 6.71% $9,672
AMERICAN PACIFIC MORTGAGE CORPORATION 3 7.13% $13,458
Cornerstone First Mortgage, Inc 2 6.63% $13,092
AMERICAN HOMESTAR MORTGAGE, L.L.C. 2 7.25% $13,125
CMG MORTGAGE, INC. 2 6.00% $12,131
Commerce Bank 2 6.50% $8,827
COMMUNICATION 2 6.88% $4,459
First Federal Bank 2 6.50% $10,436
First National Bank and Trust Company 2 6.88% $15,557
MidFirst Bank 2 6.44% $8,227
NEW FED MORTGAGE, CORP. 2 8.00% $7,959
ON Q FINANCIAL, INC. 2 7.44% $11,372
SUN WEST MORTGAGE COMPANY, INC. 2 6.19% $9,915
The Federal Savings Bank 2 6.50% $9,611
TOWNE MORTGAGE COMPANY 2 7.94% $11,219
Axos Bank 1 5.25% $14,649
LIBERTY HOME MORTGAGE CORPORATION 1 5.75% $17,712
NFM, INC. 1 7.13% $14,468
American Mortgage & Equity Consultants, Inc. 1 7.25% $7,344
InterBank 1 6.25% $8,733
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.63% $9,450
GUARANTEED RATE AFFINITY, LLC 1 6.75% $8,816
GSF Mortgage Corporation 1 6.00% $6,835
PHH Mortgage Corporation 1 6.13% $14,011
Plains Commerce Bank 1 6.25% $6,407
Goldwater Bank, N.A. 1 5.75% $20,426
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $9,771
GERSHMAN INVESTMENT CORP. 1 6.50% $8,019
PREMIA MORTGAGE, LLC 1 5.50% $19,746
F & M Bank 1 6.75% $10,303
Prosperity Bank 1 5.75% $9,480
Flagstar Bank, FSB 1 7.25% $10,515
FirstTrust Home Loans, Inc. 1 7.50% $13,359
First State Bank of St. Charles, Missouri 1 6.63% $6,428
RESIDENTIAL BANCORP 1 6.75% $8,692
ROYAL UNITED MORTGAGE LLC 1 5.63% $15,803
RUOFF MORTGAGE COMPANY, INC. 1 6.63% $6,147
SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $11,844
First Savings Bank 1 6.25% $8,894
First Financial Bank 1 6.13% $12,322
SFMC, LP 1 6.99% $18,618
Sierra Pacific Mortgage Company, Inc. 1 6.63% $11,773
Simmons Bank 1 7.75% $6,116
South State Bank 1 6.13% $8,833
FINANCIAL CONCEPTS MORTGAGE, LLC 1 6.00% $5,281
FIDELITY BANK 1 6.63% $6,723
American Mortgage Bank, LLC 1 6.75% $15,078
T2 FINANCIAL LLC 1 7.13% $9,911
Fidelity Bank 1 6.50% $7,908
Willamette Valley Bank 1 6.25% $15,200
The Huntington National Bank 1 5.63% $7,559
DELMAR FINANCIAL COMPANY 1 6.50% $7,319
Affiliated Bank 1 7.63% $10,355
AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $13,578
TruHome Solutions, LLC 1 7.13% $9,500
UMB Bank 1 6.50% $8,647
CONTOUR MORTGAGE CORPORATION 1 6.63% $24,361
Century Mortgage Company DBA Century Lending Company 1 6.25% $7,458
Centennial Bank 1 6.50% $5,869
U.S. Bank 1 6.00% $9,129
BETTER MORTGAGE CORPORATION 1 7.13% $10,874
VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.13% $13,753
Mortgage Investment Services Corporation 1 7.38% $8,291
MLD MORTGAGE INC. 1 7.75% $14,174
NATIONS RELIABLE LENDING, LLC 1 7.75% $9,232
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.63% $16,796
Network Funding, L.P. 1 6.63% $5,440

The top Tulsa FHA lender as defined by loan originations is ASSOCIATED MORTGAGE CORPORATION, with 263 FHA loans originated. Their average total fees are $11,397, which is $2,172 higher than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Tulsa FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($6,204), GUILD MORTGAGE COMPANY ($7,845), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,179), BancFirst ($8,287) and Chickasaw Community Bank ($8,521).

The lowest rate Tulsa FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.71%), LOANPAL, LLC (5.88%), AMERISAVE MORTGAGE CORPORATION (6.08%), LAKEVIEW LOAN SERVICING, LLC (6.09%) and QUICKEN LOANS, LLC (6.22%).

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
TULSA, OK CREEK 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK OKMULGEE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK OSAGE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK PAWNEE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK ROGERS 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK TULSA 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK WAGONER 2023 $472,030 $604,400 $730,525 $907,900

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 $203,000 (4.1%) $271,321 (2.3%) 0.75 3,983
2018-02-01 $207,956 (4.1%) $272,234 (0.8%) 0.76 3,898
2018-03-01 $215,000 (6.2%) $282,598 (3.4%) 0.75 3,890
2018-04-01 $219,900 (5.0%) $290,016 (3.2%) 0.75 3,917
2018-05-01 $219,900 (3.0%) $290,114 (2.1%) 0.73 4,087
2018-06-01 $217,500 (-0.4%) $287,042 (-0.1%) 0.73 4,305
2018-07-01 $214,975 (0.0%) $287,533 (2.1%) 0.72 4,440
2018-08-01 $213,900 (-1.9%) $287,182 (1.0%) 0.72 4,491
2018-09-01 $213,100 (1.5%) $285,970 (2.2%) 0.72 4,481
2018-10-01 $213,900 (1.9%) $284,302 (1.3%) 0.72 4,340
2018-11-01 $218,750 (6.2%) $287,669 (3.3%) 0.74 4,087
2018-12-01 $214,975 (7.5%) $284,471 (4.1%) 0.74 3,948
2019-01-01 $215,168 (6.0%) $286,078 (5.4%) 0.74 3,686
2019-02-01 $219,950 (5.8%) $294,113 (8.0%) 0.74 3,541
2019-03-01 $229,174 (6.6%) $304,481 (7.7%) 0.75 3,431
2019-04-01 $232,074 (5.5%) $311,555 (7.4%) 0.74 3,386
2019-05-01 $239,250 (8.8%) $323,456 (11.5%) 0.75 3,393
2019-06-01 $236,900 (8.9%) $326,267 (13.7%) 0.74 3,491
2019-07-01 $239,900 (11.6%) $328,888 (14.4%) 0.75 3,506
2019-08-01 $240,818 (12.6%) $326,353 (13.6%) 0.76 3,419
2019-09-01 $243,170 (14.1%) $329,424 (15.2%) 0.78 3,287
2019-10-01 $245,000 (14.5%) $331,379 (16.6%) 0.79 3,233
2019-11-01 $245,000 (12.0%) $325,804 (13.3%) 0.80 3,140
2019-12-01 $249,700 (16.2%) $493,261 (73.4%) 0.83 2,952
2020-01-01 $239,700 (11.4%) $317,556 (11.0%) 0.80 2,844
2020-02-01 $244,635 (11.2%) $325,267 (10.6%) 0.80 2,705
2020-03-01 $255,325 (11.4%) $333,525 (9.5%) 0.80 2,702
2020-04-01 $259,900 (12.0%) $336,137 (7.9%) 0.81 2,669
2020-05-01 $265,500 (11.0%) $350,559 (8.4%) 0.81 2,526
2020-06-01 $281,375 (18.8%) $360,709 (10.6%) 0.83 2,293
2020-07-01 $293,625 (22.4%) $381,751 (16.1%) 0.85 2,169
2020-08-01 $279,900 (16.2%) $370,475 (13.5%) 0.80 2,014
2020-09-01 $281,225 (15.7%) $371,644 (12.8%) 0.81 1,906
2020-10-01 $271,687 (10.9%) $366,167 (10.5%) 0.78 1,900
2020-11-01 $267,450 (9.2%) $368,959 (13.3%) 0.78 1,883
2020-12-01 $265,000 (6.1%) $365,980 (-25.8%) 0.79 1,643
2021-01-01 $269,000 (12.2%) $400,746 (26.2%) 0.80 1,364
2021-02-01 $252,575 (3.3%) $373,982 (15.0%) 0.74 1,165
2021-03-01 $289,000 (13.2%) $402,055 (20.6%) 0.82 1,023
2021-04-01 $272,475 (4.8%) $1,130,579 (236.3%) 0.74 1,088
2021-05-01 $275,000 (3.6%) $404,511 (15.4%) 0.73 1,088
2021-06-01 $252,500 (-10.3%) $383,567 (6.3%) 0.66 1,216
2021-07-01 $255,000 (-13.2%) $377,474 (-1.1%) 0.67 1,389
2021-08-01 $265,000 (-5.3%) $365,857 (-1.3%) 0.71 1,534
2021-09-01 $265,000 (-5.8%) $367,727 (-1.1%) 0.71 1,496
2021-10-01 $265,000 (-2.5%) $374,248 (2.2%) 0.71 1,458
2021-11-01 $254,087 (-5.0%) $370,320 (0.4%) 0.68 1,314
2021-12-01 $251,450 (-5.1%) $366,281 (0.1%) 0.68 1,119
2022-01-01 $260,000 (-3.4%) $385,176 (-3.9%) 0.70 926
2022-02-01 $273,310 (8.2%) $401,266 (7.3%) 0.71 830
2022-03-01 $272,185 (-5.8%) $404,593 (0.6%) 0.68 769
2022-04-01 $295,000 (8.3%) $408,297 (-63.9%) 0.70 843
2022-05-01 $297,500 (8.2%) $408,192 (0.9%) 0.68 1,067
2022-06-01 $299,950 (18.8%) $411,896 (7.4%) 0.67 1,232
2022-07-01 $313,964 (23.1%) $397,709 (5.4%) 0.71 1,675
2022-08-01 $313,269 (18.2%) $395,518 (8.1%) 0.72 1,848
2022-09-01 $315,589 (19.1%) $390,205 (6.1%) 0.74 1,939
2022-10-01 $319,250 (20.5%) $390,755 (4.4%) 0.75 2,048
2022-11-01 $316,995 (24.8%) $389,280 (5.1%) 0.76 2,097
2022-12-01 $329,995 (31.2%) $399,641 (9.1%) 0.81 1,993
2023-01-01 $344,700 (32.6%) $409,588 (6.3%) 0.85 1,923
2023-02-01 $354,262 (29.6%) $417,527 (4.1%) 0.86 1,783
2023-03-01 $361,950 (33.0%) $428,317 (5.9%) 0.85 1,763
2023-04-01 $369,900 (25.4%) $430,784 (5.5%) 0.86 1,822
2023-05-01 $369,450 (24.2%) $442,045 (8.3%) 0.84 1,857
2023-06-01 $364,450 (21.5%) $440,040 (6.8%) 0.82 1,974
2023-07-01 $364,000 (15.9%) $436,995 (9.9%) 0.83 2,041
2023-08-01 $350,000 (11.7%) $436,462 (10.4%) 0.80 2,110
2023-09-01 $349,000 (10.6%) $430,536 (10.3%) 0.81 2,146
2023-10-01 $340,000 (6.5%) $425,041 (8.8%) 0.80 2,266
2023-11-01 $341,250 (7.7%) $422,436 (8.5%) 0.81 2,383
2023-12-01 $340,000 (3.0%) $421,559 (5.5%) 0.83 2,348
2024-01-01 $344,947 (0.1%) $421,664 (3.0%) 0.84 2,214
2024-02-01 $342,500 (-3.3%) $422,733 (1.3%) 0.82 2,116
2024-03-01 $339,923 (-6.1%) $425,408 (-0.7%) 0.80 2,128
2024-04-01 $334,948 (-9.5%) $431,834 (0.2%) 0.78 2,219
Tulsa's median listing price for 2024-04-01 was $334,948, a difference of $-34,952 (-9.5%) versus the prior year and $-4,975 versus the prior month.

Tulsa's median listing price comes in at 78% of the national average.

Tulsa's average listing price for 2024-04-01 was $431,834, a difference of $1,050 (0.2%) versus the prior year and $6,426 versus the prior month.

For the 2024-04-01 period, Tulsa had 2,219 MLS listings, a difference of 91 listings (4%) versus the prior month and 397 listings (22%) 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 71 days 2,100 sqft
2018-02-01 66 days 2,105 sqft
2018-03-01 53 days 2,183 sqft
2018-04-01 51 days 2,213 sqft
2018-05-01 49 days 2,201 sqft
2018-06-01 51 days 2,189 sqft
2018-07-01 58 days 2,180 sqft
2018-08-01 58 days 2,162 sqft
2018-09-01 60 days 2,143 sqft
2018-10-01 65 days 2,130 sqft
2018-11-01 65 days 2,147 sqft
2018-12-01 67 days 2,126 sqft
2019-01-01 71 days 2,124 sqft
2019-02-01 60 days 2,166 sqft
2019-03-01 51 days 2,224 sqft
2019-04-01 51 days 2,251 sqft
2019-05-01 50 days 2,291 sqft
2019-06-01 53 days 2,257 sqft
2019-07-01 58 days 2,275 sqft
2019-08-01 58 days 2,286 sqft
2019-09-01 60 days 2,303 sqft
2019-10-01 60 days 2,320 sqft
2019-11-01 60 days 2,287 sqft
2019-12-01 65 days 2,282 sqft
2020-01-01 71 days 2,227 sqft
2020-02-01 65 days 2,214 sqft
2020-03-01 51 days 2,261 sqft
2020-04-01 54 days 2,265 sqft
2020-05-01 54 days 2,296 sqft
2020-06-01 53 days 2,339 sqft
2020-07-01 52 days 2,433 sqft
2020-08-01 50 days 2,358 sqft
2020-09-01 50 days 2,344 sqft
2020-10-01 49 days 2,290 sqft
2020-11-01 51 days 2,228 sqft
2020-12-01 59 days 2,230 sqft
2021-01-01 64 days 2,212 sqft
2021-02-01 62 days 2,087 sqft
2021-03-01 49 days 2,262 sqft
2021-04-01 42 days 2,138 sqft
2021-05-01 38 days 2,133 sqft
2021-06-01 37 days 2,016 sqft
2021-07-01 36 days 2,012 sqft
2021-08-01 37 days 2,019 sqft
2021-09-01 40 days 1,988 sqft
2021-10-01 45 days 1,998 sqft
2021-11-01 46 days 1,928 sqft
2021-12-01 51 days 1,938 sqft
2022-01-01 53 days 1,951 sqft
2022-02-01 43 days 2,004 sqft
2022-03-01 39 days 1,934 sqft
2022-04-01 31 days 2,026 sqft
2022-05-01 33 days 2,029 sqft
2022-06-01 36 days 2,047 sqft
2022-07-01 31 days 2,024 sqft
2022-08-01 39 days 2,045 sqft
2022-09-01 45 days 2,056 sqft
2022-10-01 47 days 2,087 sqft
2022-11-01 52 days 2,080 sqft
2022-12-01 59 days 2,121 sqft
2023-01-01 65 days 2,167 sqft
2023-02-01 58 days 2,181 sqft
2023-03-01 52 days 2,231 sqft
2023-04-01 46 days 2,243 sqft
2023-05-01 48 days 2,240 sqft
2023-06-01 48 days 2,247 sqft
2023-07-01 48 days 2,240 sqft
2023-08-01 48 days 2,204 sqft
2023-09-01 47 days 2,165 sqft
2023-10-01 50 days 2,136 sqft
2023-11-01 51 days 2,133 sqft
2023-12-01 58 days 2,121 sqft
2024-01-01 66 days 2,081 sqft
2024-02-01 64 days 2,064 sqft
2024-03-01 48 days 2,055 sqft
2024-04-01 43 days 2,055 sqft
Tulsa's median listing age (time on market) for 2024-04-01 was 43 days. This is -7% shorter than the same period one year ago.

Tulsa's median square footage for active listings during the 2024-04-01 period was 2,055 sqft. One year prior, the average listing was 2,243 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).