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 149 lenders originated 3,405 FHA loans during 2022. The total origination value was $711,465,000, with an average FHA loan value of $208,947.
Tulsa FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tulsa
averaged
6.28%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Tulsa's average FHA mortgage closing costs are $7,089.
The average rate for the prior week (2023-05-19) was
6.36% and
one month ago for the week of 2023-04-21, the
average rate was 5.9%.
The average rate one year ago was 4.92%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.15%.
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.
The top Tulsa FHA lender as defined by loan originations is ASSOCIATED MORTGAGE CORPORATION, with
247 FHA loans originated. Their average total fees are
$9,424, which is $52
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Tulsa FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($5,183), Bank of America ($5,677), MID AMERICA MORTGAGE, INC. ($6,143), EVERETT FINANCIAL, INC. ($6,363) and RCB Bank ($6,845).
The lowest rate Tulsa FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (3.59%), PENNYMAC LOAN SERVICES, LLC (4.12%), LAKEVIEW LOAN SERVICING, LLC (4.25%), Firstar Bank (4.54%) and QUICKEN LOANS, LLC (4.54%).
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. LouisDate | 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 (3.3%) | 0.75 | 3,917 |
2018-05-01 | $219,900 (3.0%) | $290,095 (2.1%) | 0.73 | 4,087 |
2018-06-01 | $217,500 (-0.3%) | $287,042 (-0.1%) | 0.73 | 4,305 |
2018-07-01 | $214,975 (0.0%) | $287,533 (2.2%) | 0.72 | 4,440 |
2018-08-01 | $213,900 (-1.8%) | $287,182 (1.1%) | 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 (1.4%) | 0.72 | 4,340 |
2018-11-01 | $218,750 (6.2%) | $287,669 (3.4%) | 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%) | $294,085 (8.0%) | 0.74 | 3,542 |
2019-03-01 | $225,000 (4.7%) | $302,777 (7.1%) | 0.75 | 3,396 |
2019-04-01 | $232,424 (5.7%) | $311,947 (7.6%) | 0.74 | 3,388 |
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 | $245,000 (14.5%) | $334,448 (16.5%) | 0.77 | 3,464 |
2019-09-01 | $251,178 (17.9%) | $341,232 (19.3%) | 0.79 | 3,046 |
2019-10-01 | $246,250 (15.1%) | $331,720 (16.7%) | 0.79 | 3,236 |
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 (13.5%) | $333,525 (10.2%) | 0.80 | 2,702 |
2020-04-01 | $259,900 (11.8%) | $336,137 (7.8%) | 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 (14.2%) | $370,442 (10.8%) | 0.80 | 2,014 |
2020-09-01 | $281,225 (12.0%) | $371,644 (8.9%) | 0.81 | 1,906 |
2020-10-01 | $271,687 (10.3%) | $366,167 (10.4%) | 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%) | 0.73 | 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 (-1.2%) | 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%) | $370,409 (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%) | $408,633 (-63.9%) | 0.70 | 843 |
2022-05-01 | $297,500 (8.2%) | $408,258 (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%) | $390,789 (4.4%) | 0.75 | 2,048 |
2022-11-01 | $316,995 (24.8%) | $389,280 (5.1%) | 0.76 | 2,097 |
2022-12-01 | $329,990 (31.2%) | $399,609 (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%) | 0.85 | 1,783 |
2023-03-01 | $361,920 (33.0%) | $428,435 (5.9%) | 0.85 | 1,762 |
2023-04-01 | $369,900 (25.4%) | $430,784 (5.4%) | 0.86 | 1,822 |
Tulsa's median listing price comes in at 86% of the national average.
Tulsa's average listing price for 2023-04-01 was $430,784, a difference of $22,151 (5.4%) versus the prior year and $2,349 versus the prior month.
For the 2023-04-01 period, Tulsa had 1,822 MLS listings, a difference of 60 listings (3%) versus the prior month and 979 listings (116%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Tulsa (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 71 days | 2,099 sqft |
2018-02-01 | 66 days | 2,106 sqft |
2018-03-01 | 53 days | 2,184 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 | 61 days | 2,143 sqft |
2018-10-01 | 65 days | 2,130 sqft |
2018-11-01 | 66 days | 2,148 sqft |
2018-12-01 | 68 days | 2,125 sqft |
2019-01-01 | 71 days | 2,123 sqft |
2019-02-01 | 60 days | 2,165 sqft |
2019-03-01 | 54 days | 2,212 sqft |
2019-04-01 | 52 days | 2,255 sqft |
2019-05-01 | 50 days | 2,292 sqft |
2019-06-01 | 53 days | 2,258 sqft |
2019-07-01 | 58 days | 2,275 sqft |
2019-08-01 | 63 days | 2,344 sqft |
2019-09-01 | 67 days | 2,376 sqft |
2019-10-01 | 60 days | 2,321 sqft |
2019-11-01 | 60 days | 2,289 sqft |
2019-12-01 | 65 days | 2,281 sqft |
2020-01-01 | 71 days | 2,227 sqft |
2020-02-01 | 65 days | 2,213 sqft |
2020-03-01 | 51 days | 2,261 sqft |
2020-04-01 | 54 days | 2,266 sqft |
2020-05-01 | 54 days | 2,294 sqft |
2020-06-01 | 53 days | 2,339 sqft |
2020-07-01 | 52 days | 2,434 sqft |
2020-08-01 | 51 days | 2,358 sqft |
2020-09-01 | 50 days | 2,346 sqft |
2020-10-01 | 49 days | 2,290 sqft |
2020-11-01 | 51 days | 2,228 sqft |
2020-12-01 | 60 days | 2,230 sqft |
2021-01-01 | 65 days | 2,206 sqft |
2021-02-01 | 62 days | 2,085 sqft |
2021-03-01 | 49 days | 2,261 sqft |
2021-04-01 | 42 days | 2,134 sqft |
2021-05-01 | 39 days | 2,132 sqft |
2021-06-01 | 37 days | 2,011 sqft |
2021-07-01 | 37 days | 2,012 sqft |
2021-08-01 | 37 days | 2,015 sqft |
2021-09-01 | 40 days | 1,984 sqft |
2021-10-01 | 45 days | 1,992 sqft |
2021-11-01 | 46 days | 1,924 sqft |
2021-12-01 | 51 days | 1,936 sqft |
2022-01-01 | 53 days | 1,951 sqft |
2022-02-01 | 43 days | 2,006 sqft |
2022-03-01 | 40 days | 1,934 sqft |
2022-04-01 | 31 days | 2,025 sqft |
2022-05-01 | 33 days | 2,024 sqft |
2022-06-01 | 36 days | 2,040 sqft |
2022-07-01 | 31 days | 2,018 sqft |
2022-08-01 | 39 days | 2,039 sqft |
2022-09-01 | 45 days | 2,051 sqft |
2022-10-01 | 47 days | 2,083 sqft |
2022-11-01 | 52 days | 2,080 sqft |
2022-12-01 | 60 days | 2,121 sqft |
2023-01-01 | 65 days | 2,168 sqft |
2023-02-01 | 58 days | 2,180 sqft |
2023-03-01 | 52 days | 2,228 sqft |
2023-04-01 | 46 days | 2,244 sqft |
Tulsa's median square footage for active listings during the 2023-04-01 period was 2,244 sqft. One year prior, the average listing was 2,025 sqft.