Oklahoma City USDA Loan Rates, Closing Costs & Stats

OKLAHOMA CITY, OK

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Oklahoma City's 57 lenders originated 189 USDA loans during 2022. The total origination value was $33,155,000, with an average USDA loan value of $175,423.

    Oklahoma City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Oklahoma City averaged 6.71% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

    Oklahoma City's average USDA mortgage closing costs are $4,538.

    The average rate for the prior week (2023-09-15) was 6.58% and one month ago for the week of 2023-08-18, the average rate was 6.78%.

    The average rate one year ago was 5.4%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.69%.

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

    Oklahoma City USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Oklahoma City level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    CORNERSTONE HOME LENDING, INC. 13 5.21% $7,316
    First United Bank and Trust Company 9 4.47% $5,856
    Chickasaw Community Bank 9 5.39% $5,542
    HOME POINT FINANCIAL CORPORATION 9 3.97% $6,826
    CALIBER HOME LOANS, INC. 7 4.84% $7,159
    BancFirst 7 4.41% $5,579
    UNION HOME MORTGAGE CORP. 7 4.84% $6,625
    Great Plains National Bank 7 5.71% $5,305
    GUARANTEED RATE, INC. 6 4.70% $6,800
    UNITED WHOLESALE MORTGAGE, LLC 5 5.76% $6,147
    CARDINAL FINANCIAL 5 5.40% $7,163
    Gateway First Bank 5 5.58% $4,204
    BOKF 5 5.53% $5,333
    ASSOCIATED MORTGAGE CORPORATION 5 4.60% $8,150
    CROSSCOUNTRY MORTGAGE, LLC 5 4.12% $5,707
    Stride Bank 5 4.45% $6,917
    GUARANTY HOME MORTGAGE CORPORATION 4 4.78% $5,856
    EVERETT FINANCIAL, INC. 4 5.69% $3,727
    CERTAINTY HOME LOANS, LLC 4 5.19% $5,475
    PLAZA HOME MORTGAGE, INC. 4 5.84% $5,471
    F & M Bank 3 3.79% $4,995
    United Fidelity Funding Corp. 3 5.33% $7,702
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.38% $5,840
    GUILD MORTGAGE COMPANY 2 3.88% $4,141
    CMG MORTGAGE, INC. 2 6.00% $6,729
    LOANDEPOT.COM, LLC 2 4.88% $6,381
    MID AMERICA MORTGAGE, INC. 2 4.81% $3,903
    Mortgage Research Center, LLC 2 4.38% $4,034
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.19% $7,563
    Arvest Bank 2 4.44% $5,750
    FINANCIAL CONCEPTS MORTGAGE, LLC 2 3.88% $5,041
    ACADEMY MORTGAGE CORPORATION 2 4.69% $7,915
    First Guaranty Mortgage Corporation 2 3.88% $3,959
    Servion, Inc. 1 4.38% $4,431
    AMCAP MORTGAGE, LTD. 1 4.75% $7,309
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $3,813
    BROKER SOLUTIONS, INC. 1 6.75% $7,466
    CRESCENT MORTGAGE COMPANY 1 5.38% $4,724
    Equity Prime Mortgage LLC 1 4.25% $6,068
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.99% $6,141
    Fidelity Bank 1 3.13% $3,419
    FirstTrust Home Loans, Inc. 1 3.88% $5,655
    Flagstar Bank, FSB 1 5.10% $6,028
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $5,041
    GSF Mortgage Corporation 1 5.13% $9,102
    Hometown Lenders, Inc. 1 5.13% $7,927
    LEADERONE FINANCIAL CORPORATION 1 4.63% $10,520
    MORTGAGE FINANCIAL SERVICES, LLC 1 3.63% $5,979
    MOVEMENT MORTGAGE, LLC 1 5.25% $6,442
    Northpointe Bank 1 5.25% $6,206
    OPEN MORTGAGE, LLC 1 5.13% $4,148
    Paramount Residential Mortgage Group, Inc. 1 4.63% $7,203
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $5,738
    Plains Commerce Bank 1 6.25% $3,702
    Simmons Bank 1 5.63% $5,692
    Town Square Mortgage & Investments, Inc. 1 5.63% $6,101
    Unify Home Lending Inc. 1 6.75% $1,465

    The top Oklahoma City USDA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with 13 USDA loans originated. Their average total fees are $7,316, which is $1,460 higher than the next largest lender, First United Bank and Trust Company.

    The lowest fee Oklahoma City USDA lenders (with over 10 loans originated) are CORNERSTONE HOME LENDING, INC. ($7,316), .

    The lowest rate Oklahoma City USDA lenders (with over 10 loans originated) are CORNERSTONE HOME LENDING, INC. (5.21%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Oklahoma City (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 $224,550 (3.6%) $289,268 (4.4%) 0.83 5,886
    2018-02-01 $224,500 (3.0%) $292,551 (5.1%) 0.82 5,735
    2018-03-01 $233,000 (5.6%) $301,130 (6.4%) 0.82 5,639
    2018-04-01 $237,374 (5.5%) $306,739 (6.1%) 0.80 5,737
    2018-05-01 $237,981 (3.5%) $309,278 (3.4%) 0.79 5,798
    2018-06-01 $235,000 (2.2%) $310,384 (3.7%) 0.78 6,073
    2018-07-01 $236,246 (4.3%) $312,590 (5.3%) 0.79 6,271
    2018-08-01 $233,450 (3.8%) $307,874 (4.4%) 0.78 6,339
    2018-09-01 $234,000 (4.0%) $309,135 (5.2%) 0.79 6,126
    2018-10-01 $233,925 (4.3%) $312,426 (6.7%) 0.79 6,037
    2018-11-01 $236,000 (6.0%) $316,093 (8.6%) 0.80 6,002
    2018-12-01 $234,900 (4.5%) $318,030 (9.5%) 0.81 5,655
    2019-01-01 $234,373 (4.4%) $314,478 (8.7%) 0.81 5,165
    2019-02-01 $235,980 (5.1%) $312,374 (6.8%) 0.80 5,063
    2019-03-01 $244,360 (4.9%) $324,051 (7.6%) 0.80 4,911
    2019-04-01 $252,920 (6.6%) $334,258 (9.0%) 0.80 4,864
    2019-05-01 $258,700 (8.7%) $339,263 (9.7%) 0.81 4,851
    2019-06-01 $256,000 (8.9%) $339,599 (9.4%) 0.80 4,904
    2019-07-01 $255,450 (8.1%) $339,824 (8.7%) 0.80 5,121
    2019-08-01 $252,145 (8.0%) $339,036 (10.1%) 0.80 5,102
    2019-09-01 $252,514 (7.9%) $338,152 (9.4%) 0.81 5,025
    2019-10-01 $252,759 (8.1%) $337,242 (7.9%) 0.82 4,974
    2019-11-01 $250,000 (5.9%) $338,184 (7.0%) 0.82 4,866
    2019-12-01 $250,000 (6.4%) $339,880 (6.9%) 0.83 4,519
    2020-01-01 $250,258 (6.8%) $337,861 (7.4%) 0.84 4,254
    2020-02-01 $255,000 (8.1%) $339,967 (8.8%) 0.84 4,099
    2020-03-01 $262,875 (7.6%) $344,773 (6.4%) 0.82 4,071
    2020-04-01 $263,100 (4.0%) $344,259 (3.0%) 0.82 4,252
    2020-05-01 $268,350 (3.7%) $353,972 (4.3%) 0.82 4,067
    2020-06-01 $290,000 (13.3%) $387,196 (14.0%) 0.85 3,662
    2020-07-01 $282,990 (10.8%) $386,670 (13.8%) 0.82 3,526
    2020-08-01 $269,900 (7.0%) $374,805 (10.6%) 0.77 3,315
    2020-09-01 $279,900 (10.9%) $393,405 (16.3%) 0.80 3,069
    2020-10-01 $280,000 (10.8%) $399,087 (18.3%) 0.80 2,965
    2020-11-01 $274,500 (9.8%) $394,107 (16.5%) 0.80 2,864
    2020-12-01 $267,450 (7.0%) $390,253 (14.8%) 0.80 2,595
    2021-01-01 $264,900 (5.9%) $382,480 (13.2%) 0.79 2,129
    2021-02-01 $289,250 (13.4%) $416,121 (22.4%) 0.84 1,772
    2021-03-01 $287,500 (9.4%) $420,208 (21.9%) 0.82 1,614
    2021-04-01 $295,688 (12.4%) $436,364 (26.8%) 0.80 1,418
    2021-05-01 $286,900 (6.9%) $426,787 (20.6%) 0.76 1,475
    2021-06-01 $284,935 (-1.8%) $428,165 (10.6%) 0.75 1,736
    2021-07-01 $285,000 (0.7%) $414,666 (7.2%) 0.75 2,101
    2021-08-01 $279,751 (3.7%) $397,092 (6.0%) 0.75 2,390
    2021-09-01 $275,750 (-1.5%) $390,747 (-0.7%) 0.74 2,423
    2021-10-01 $274,995 (-1.8%) $400,555 (0.4%) 0.73 2,317
    2021-11-01 $289,552 (5.5%) $421,014 (6.8%) 0.77 2,217
    2021-12-01 $290,000 (8.4%) $411,115 (5.4%) 0.79 1,993
    2022-01-01 $309,500 (16.8%) $426,750 (11.6%) 0.84 1,651
    2022-02-01 $329,170 (13.8%) $444,823 (6.9%) 0.86 1,387
    2022-03-01 $339,500 (18.1%) $459,086 (9.3%) 0.85 1,300
    2022-04-01 $314,490 (6.4%) $435,909 (-0.1%) 0.75 1,436
    2022-05-01 $325,805 (13.6%) $435,212 (2.0%) 0.74 1,840
    2022-06-01 $321,968 (13.0%) $426,595 (-0.4%) 0.72 2,382
    2022-07-01 $315,000 (10.5%) $409,636 (-1.2%) 0.71 3,091
    2022-08-01 $318,652 (13.9%) $399,395 (0.6%) 0.74 3,346
    2022-09-01 $321,398 (16.6%) $401,496 (2.8%) 0.75 3,265
    2022-10-01 $320,000 (16.4%) $405,164 (1.2%) 0.75 3,551
    2022-11-01 $325,000 (12.2%) $409,208 (-2.8%) 0.78 3,667
    2022-12-01 $325,000 (12.1%) $404,851 (-1.5%) 0.80 3,494
    2023-01-01 $338,962 (9.5%) $415,489 (-2.6%) 0.84 3,298
    2023-02-01 $349,180 (6.1%) $422,327 (-5.1%) 0.84 3,061
    2023-03-01 $350,000 (3.1%) $426,880 (-7.0%) 0.83 2,979
    2023-04-01 $352,990 (12.2%) $428,867 (-1.6%) 0.82 2,925
    2023-05-01 $353,550 (8.5%) $431,310 (-0.9%) 0.80 3,035
    2023-06-01 $350,000 (8.7%) $434,187 (1.8%) 0.79 3,080
    2023-07-01 $347,250 (10.2%) $431,679 (5.4%) 0.79 3,427
    2023-08-01 $339,858 (6.7%) $420,632 (5.3%) 0.78 3,605
    Oklahoma City's median listing price for 2023-08-01 was $339,858, a difference of $21,206 (6.7%) versus the prior year and $-7,392 versus the prior month.

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

    Oklahoma City's average listing price for 2023-08-01 was $420,632, a difference of $21,237 (5.3%) versus the prior year and $-11,047 versus the prior month.

    For the 2023-08-01 period, Oklahoma City had 3,605 MLS listings, a difference of 178 listings (5%) versus the prior month and 259 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Oklahoma City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,065 sqft
    2018-02-01 67 days 2,059 sqft
    2018-03-01 58 days 2,099 sqft
    2018-04-01 50 days 2,132 sqft
    2018-05-01 47 days 2,127 sqft
    2018-06-01 48 days 2,117 sqft
    2018-07-01 52 days 2,123 sqft
    2018-08-01 58 days 2,107 sqft
    2018-09-01 58 days 2,106 sqft
    2018-10-01 60 days 2,100 sqft
    2018-11-01 61 days 2,096 sqft
    2018-12-01 72 days 2,076 sqft
    2019-01-01 74 days 2,051 sqft
    2019-02-01 66 days 2,052 sqft
    2019-03-01 55 days 2,095 sqft
    2019-04-01 44 days 2,142 sqft
    2019-05-01 43 days 2,160 sqft
    2019-06-01 44 days 2,150 sqft
    2019-07-01 45 days 2,148 sqft
    2019-08-01 47 days 2,138 sqft
    2019-09-01 50 days 2,136 sqft
    2019-10-01 52 days 2,132 sqft
    2019-11-01 54 days 2,100 sqft
    2019-12-01 62 days 2,094 sqft
    2020-01-01 62 days 2,056 sqft
    2020-02-01 49 days 2,065 sqft
    2020-03-01 41 days 2,097 sqft
    2020-04-01 44 days 2,100 sqft
    2020-05-01 47 days 2,111 sqft
    2020-06-01 44 days 2,237 sqft
    2020-07-01 46 days 2,203 sqft
    2020-08-01 50 days 2,114 sqft
    2020-09-01 45 days 2,136 sqft
    2020-10-01 43 days 2,136 sqft
    2020-11-01 46 days 2,093 sqft
    2020-12-01 51 days 2,030 sqft
    2021-01-01 55 days 1,996 sqft
    2021-02-01 44 days 2,076 sqft
    2021-03-01 44 days 2,094 sqft
    2021-04-01 39 days 2,108 sqft
    2021-05-01 38 days 2,064 sqft
    2021-06-01 35 days 2,007 sqft
    2021-07-01 36 days 1,980 sqft
    2021-08-01 35 days 1,948 sqft
    2021-09-01 41 days 1,891 sqft
    2021-10-01 43 days 1,873 sqft
    2021-11-01 41 days 1,946 sqft
    2021-12-01 47 days 1,917 sqft
    2022-01-01 52 days 1,981 sqft
    2022-02-01 43 days 1,999 sqft
    2022-03-01 35 days 2,009 sqft
    2022-04-01 33 days 1,935 sqft
    2022-05-01 29 days 1,932 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 37 days 1,910 sqft
    2022-08-01 40 days 1,918 sqft
    2022-09-01 48 days 1,951 sqft
    2022-10-01 47 days 1,970 sqft
    2022-11-01 50 days 1,985 sqft
    2022-12-01 60 days 1,990 sqft
    2023-01-01 64 days 2,025 sqft
    2023-02-01 53 days 2,030 sqft
    2023-03-01 51 days 2,042 sqft
    2023-04-01 46 days 2,047 sqft
    2023-05-01 43 days 2,066 sqft
    2023-06-01 45 days 2,062 sqft
    2023-07-01 43 days 2,030 sqft
    2023-08-01 43 days 2,015 sqft
    Oklahoma City's median listing age (time on market) for 2023-08-01 was 43 days. This is 8% longer than the same period one year ago.

    Oklahoma City's median square footage for active listings during the 2023-08-01 period was 2,015 sqft. One year prior, the average listing was 1,918 sqft.