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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.