Tulsa FHA Loan Rates, Closing Costs & Stats

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 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 6.54% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.41% and one month ago for the week of 2024-10-04, the average rate was 5.83%.

    The average rate one year ago was 7.17%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.38%.

    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

    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).