Woodward FHA Loan Rates, Closing Costs & Stats

Woodward, 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.

    Woodward's 18 lenders originated 48 FHA loans during 2023. The total origination value was $6,930,000, with an average FHA loan value of $144,375.

    Woodward FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Woodward averaged 6.39% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Woodward's average FHA mortgage closing costs are $5,716.

    The average rate for the prior week (2025-02-07) was 6.51% and one month ago for the week of 2025-01-10, the average rate was 6.77%.

    The average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.52%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Woodward 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 Woodward level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Gateway First Bank 8 6.80% $5,653
    Stride Bank 5 6.88% $6,623
    GUILD MORTGAGE COMPANY 4 6.88% $6,204
    BROKER SOLUTIONS, INC. 3 6.75% $8,149
    GUARANTEED RATE, INC. 3 6.58% $8,145
    QUICKEN LOANS, LLC 2 5.74% $7,738
    UNITED WHOLESALE MORTGAGE, LLC 2 6.50% $9,257
    Mortgage Investment Services Corporation 1 7.25% $4,597
    OPEN MORTGAGE, LLC 1 7.13% $6,679
    UNION HOME MORTGAGE CORP. 1 7.13% $7,566
    United Fidelity Funding Corp. 1 6.13% $6,971
    MidFirst Bank 1 7.25% $6,662
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,682
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $3,933
    Flagstar Bank, FSB 1 6.66% $4,354
    MID AMERICA MORTGAGE, INC. 1 8.25% $2,500
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $5,859
    MORTGAGE ACCESS CORP. 1 7.50% $9,681

    The top Woodward FHA lender as defined by loan originations is Gateway First Bank, with 8 FHA loans originated. Their average total fees are $5,653, which is $970 lower than the next largest lender, Stride Bank.

    The lowest fee Woodward FHA lenders (with over 10 loans originated) are .

    The lowest rate Woodward FHA lenders (with over 10 loans originated) are .

    Woodward FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WOODWARD, OK ELLIS 2022 $420,680 $538,650 $651,050 $809,150
    WOODWARD, OK WOODWARD 2022 $420,680 $538,650 $651,050 $809,150
    WOODWARD, OK ELLIS 2023 $472,030 $604,400 $730,525 $907,900
    WOODWARD, OK WOODWARD 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Woodward (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 $156,500 (1.8%) $214,736 (7.8%) 0.00 89
    2018-02-01 $155,750 (4.8%) $198,433 (-0.3%) 0.00 94
    2018-03-01 $149,950 (0.3%) $195,107 (-5.1%) 0.00 93
    2018-04-01 $149,250 (2.9%) $201,094 (-0.6%) 0.00 90
    2018-05-01 $146,500 (-1.7%) $202,374 (1.0%) 0.00 89
    2018-06-01 $146,500 (-2.0%) $214,640 (5.1%) 0.00 104
    2018-07-01 $140,000 (-6.7%) $202,658 (-3.2%) 0.00 112
    2018-08-01 $143,500 (-10.3%) $201,972 (-3.4%) 0.00 119
    2018-09-01 $145,450 (-11.8%) $191,600 (-17.2%) 0.00 125
    2018-10-01 $143,500 (-14.2%) $174,331 (-25.0%) 0.00 120
    2018-11-01 $141,750 (-12.5%) $176,232 (-22.1%) 0.00 109
    2018-12-01 $145,000 (-10.2%) $180,221 (-19.7%) 0.00 101
    2019-01-01 $154,925 (-1.0%) $179,176 (-16.6%) 0.00 102
    2019-02-01 $158,500 (1.8%) $186,063 (-6.2%) 0.00 94
    2019-03-01 $168,050 (12.1%) $195,846 (0.4%) 0.00 83
    2019-04-01 $177,800 (19.1%) $202,441 (0.7%) 0.00 82
    2019-05-01 $172,125 (17.5%) $197,423 (-2.5%) 0.00 83
    2019-06-01 $172,250 (17.6%) $200,455 (-6.6%) 0.00 87
    2019-07-01 $167,500 (19.6%) $197,034 (-2.8%) 0.00 90
    2019-08-01 $156,227 (8.9%) $188,736 (-6.6%) 0.00 93
    2019-09-01 $153,568 (5.6%) $187,408 (-2.2%) 0.00 98
    2019-10-01 $150,750 (5.1%) $186,294 (6.9%) 0.00 101
    2019-11-01 $151,000 (6.5%) $186,691 (5.9%) 0.00 97
    2019-12-01 $147,250 (1.6%) $182,871 (1.5%) 0.00 88
    2020-01-01 $145,000 (-6.4%) $186,784 (4.3%) 0.00 85
    2020-02-01 $145,000 (-8.5%) $177,793 (-4.5%) 0.00 80
    2020-03-01 $148,625 (-11.6%) $179,890 (-8.2%) 0.00 89
    2020-04-01 $150,625 (-15.3%) $196,092 (-3.1%) 0.00 93
    2020-05-01 $152,000 (-11.7%) $197,852 (0.2%) 0.00 87
    2020-06-01 $147,000 (-14.7%) $187,044 (-6.7%) 0.00 109
    2020-07-01 $149,500 (-10.8%) $191,129 (-3.0%) 0.00 106
    2020-08-01 $138,000 (-11.7%) $190,612 (1.0%) 0.00 98
    2020-09-01 $130,000 (-15.4%) $204,835 (9.3%) 0.00 98
    2020-10-01 $125,000 (-17.1%) $199,058 (6.9%) 0.00 89
    2020-11-01 $129,500 (-14.2%) $202,118 (8.3%) 0.00 82
    2020-12-01 $126,000 (-14.4%) $205,999 (12.7%) 0.00 81
    2021-01-01 $116,960 (-19.3%) $204,194 (9.3%) 0.00 74
    2021-02-01 $119,625 (-17.5%) $214,699 (20.8%) 0.00 66
    2021-03-01 $124,250 (-16.4%) $219,663 (22.1%) 0.00 63
    2021-04-01 $119,750 (-20.5%) $208,253 (6.2%) 0.00 72
    2021-05-01 $123,500 (-18.8%) $199,285 (0.7%) 0.00 74
    2021-06-01 $118,250 (-19.6%) $191,566 (2.4%) 0.00 62
    2021-07-01 $141,000 (-5.7%) $202,775 (6.1%) 0.00 59
    2021-08-01 $137,750 (-0.2%) $180,348 (-5.4%) 0.00 67
    2021-09-01 $137,375 (5.7%) $182,064 (-11.1%) 0.00 62
    2021-10-01 $135,000 (8.0%) $192,140 (-3.5%) 0.00 71
    2021-11-01 $130,000 (0.4%) $190,212 (-5.9%) 0.00 66
    2021-12-01 $129,750 (3.0%) $180,947 (-12.2%) 0.00 69
    2022-01-01 $126,500 (8.2%) $182,070 (-10.8%) 0.00 63
    2022-02-01 $118,500 (-0.9%) $169,948 (-20.8%) 0.00 61
    2022-03-01 $124,500 (0.2%) $186,389 (-15.2%) 0.00 67
    2022-04-01 $135,000 (12.7%) $187,725 (-9.9%) 0.00 71
    2022-05-01 $141,250 (14.4%) $199,641 (0.2%) 0.00 68
    2022-06-01 $132,000 (11.6%) $183,719 (-4.1%) 0.00 66
    2022-07-01 $129,000 (-8.5%) $182,726 (-9.9%) 0.00 70
    2022-08-01 $137,125 (-0.5%) $180,314 (0.0%) 0.00 75
    2022-09-01 $133,000 (-3.2%) $178,782 (-1.8%) 0.00 73
    2022-10-01 $126,500 (-6.3%) $182,705 (-4.9%) 0.00 61
    2022-11-01 $141,500 (8.9%) $197,642 (3.9%) 0.00 62
    2022-12-01 $145,000 (11.8%) $200,558 (10.8%) 0.00 62
    2023-01-01 $145,500 (15.0%) $201,508 (10.7%) 0.00 57
    2023-02-01 $159,625 (34.7%) $209,946 (23.5%) 0.00 49
    2023-03-01 $184,888 (48.5%) $218,293 (17.1%) 0.00 41
    2023-04-01 $165,000 (22.2%) $208,010 (10.8%) 0.00 45
    2023-05-01 $155,000 (9.7%) $205,438 (2.9%) 0.00 41
    2023-06-01 $149,750 (13.5%) $201,221 (9.5%) 0.00 44
    2023-07-01 $140,000 (8.5%) $189,288 (3.6%) 0.00 48
    2023-08-01 $142,500 (3.9%) $196,568 (9.0%) 0.00 50
    2023-09-01 $143,500 (7.9%) $207,978 (16.3%) 0.00 51
    2023-10-01 $139,500 (10.3%) $212,635 (16.4%) 0.00 53
    2023-11-01 $140,000 (-1.1%) $219,954 (11.3%) 0.00 57
    2023-12-01 $166,500 (14.8%) $235,226 (17.3%) 0.00 53
    2024-01-01 $161,000 (10.7%) $221,544 (9.9%) 0.00 55
    2024-02-01 $155,000 (-2.9%) $214,914 (2.4%) 0.00 59
    2024-03-01 $162,500 (-12.1%) $220,060 (0.8%) 0.00 62
    2024-04-01 $158,750 (-3.8%) $206,760 (-0.6%) 0.00 64
    2024-05-01 $160,000 (3.2%) $206,446 (0.5%) 0.00 58
    2024-06-01 $177,500 (18.5%) $235,974 (17.3%) 0.00 58
    2024-07-01 $195,375 (39.6%) $233,692 (23.5%) 0.00 64
    2024-08-01 $163,750 (14.9%) $228,015 (16.0%) 0.00 68
    2024-09-01 $156,250 (8.9%) $224,815 (8.1%) 0.00 64
    2024-10-01 $162,125 (16.2%) $228,740 (7.6%) 0.00 64
    2024-11-01 $184,000 (31.4%) $232,879 (5.9%) 0.00 63
    2024-12-01 $165,000 (-0.9%) $223,983 (-4.8%) 0.00 66
    2025-01-01 $167,500 (4.0%) $229,839 (3.7%) 0.00 59
    Woodward's median listing price for 2025-01-01 was $167,500, a difference of $6,500 (4.0%) versus the prior year and $2,500 versus the prior month.

    Woodward's median listing price comes in at 0% of the national average.

    Woodward's average listing price for 2025-01-01 was $229,839, a difference of $8,295 (3.7%) versus the prior year and $5,856 versus the prior month.

    For the 2025-01-01 period, Woodward had 59 MLS listings, a difference of -7 listings (-11%) versus the prior month and 4 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Woodward (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,763 sqft
    2018-02-01 0 days 1,779 sqft
    2018-03-01 0 days 1,755 sqft
    2018-04-01 0 days 1,816 sqft
    2018-05-01 0 days 1,807 sqft
    2018-06-01 0 days 1,779 sqft
    2018-07-01 0 days 1,726 sqft
    2018-08-01 0 days 1,761 sqft
    2018-09-01 0 days 1,740 sqft
    2018-10-01 0 days 1,722 sqft
    2018-11-01 0 days 1,714 sqft
    2018-12-01 0 days 1,740 sqft
    2019-01-01 0 days 1,773 sqft
    2019-02-01 0 days 1,791 sqft
    2019-03-01 0 days 1,873 sqft
    2019-04-01 0 days 1,878 sqft
    2019-05-01 0 days 1,876 sqft
    2019-06-01 0 days 1,875 sqft
    2019-07-01 0 days 1,890 sqft
    2019-08-01 0 days 1,827 sqft
    2019-09-01 0 days 1,809 sqft
    2019-10-01 0 days 1,797 sqft
    2019-11-01 0 days 1,803 sqft
    2019-12-01 0 days 1,729 sqft
    2020-01-01 0 days 1,722 sqft
    2020-02-01 0 days 1,634 sqft
    2020-03-01 0 days 1,645 sqft
    2020-04-01 0 days 1,797 sqft
    2020-05-01 0 days 1,810 sqft
    2020-06-01 0 days 1,634 sqft
    2020-07-01 0 days 1,762 sqft
    2020-08-01 0 days 1,650 sqft
    2020-09-01 0 days 1,681 sqft
    2020-10-01 0 days 1,578 sqft
    2020-11-01 0 days 1,607 sqft
    2020-12-01 0 days 1,603 sqft
    2021-01-01 0 days 1,500 sqft
    2021-02-01 0 days 1,523 sqft
    2021-03-01 0 days 1,562 sqft
    2021-04-01 0 days 1,566 sqft
    2021-05-01 0 days 1,558 sqft
    2021-06-01 0 days 1,575 sqft
    2021-07-01 0 days 1,627 sqft
    2021-08-01 0 days 1,597 sqft
    2021-09-01 0 days 1,581 sqft
    2021-10-01 0 days 1,612 sqft
    2021-11-01 0 days 1,615 sqft
    2021-12-01 0 days 1,657 sqft
    2022-01-01 0 days 1,597 sqft
    2022-02-01 0 days 1,586 sqft
    2022-03-01 0 days 1,603 sqft
    2022-04-01 0 days 1,779 sqft
    2022-05-01 0 days 1,779 sqft
    2022-06-01 0 days 1,677 sqft
    2022-07-01 0 days 1,677 sqft
    2022-08-01 0 days 1,658 sqft
    2022-09-01 0 days 1,651 sqft
    2022-10-01 0 days 1,609 sqft
    2022-11-01 0 days 1,715 sqft
    2022-12-01 0 days 1,757 sqft
    2023-01-01 0 days 1,705 sqft
    2023-02-01 0 days 1,719 sqft
    2023-03-01 0 days 1,788 sqft
    2023-04-01 0 days 1,775 sqft
    2023-05-01 0 days 1,772 sqft
    2023-06-01 0 days 1,741 sqft
    2023-07-01 0 days 1,689 sqft
    2023-08-01 0 days 1,751 sqft
    2023-09-01 0 days 1,775 sqft
    2023-10-01 0 days 1,723 sqft
    2023-11-01 0 days 1,713 sqft
    2023-12-01 0 days 1,778 sqft
    2024-01-01 0 days 1,688 sqft
    2024-02-01 0 days 1,601 sqft
    2024-03-01 0 days 1,678 sqft
    2024-04-01 0 days 1,710 sqft
    2024-05-01 0 days 1,718 sqft
    2024-06-01 0 days 1,796 sqft
    2024-07-01 0 days 1,928 sqft
    2024-08-01 0 days 1,812 sqft
    2024-09-01 0 days 1,794 sqft
    2024-10-01 0 days 1,801 sqft
    2024-11-01 0 days 1,840 sqft
    2024-12-01 0 days 1,747 sqft
    2025-01-01 0 days 1,658 sqft
    Woodward's median listing age (time on market) for 2025-01-01 was 0 days.

    Woodward's median square footage for active listings during the 2025-01-01 period was 1,658 sqft. One year prior, the average listing was 1,688 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).