Oklahoma City USDA Loan Rates, Closing Costs & Stats

OKLAHOMA CITY, OK

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 62 lenders originated 423 USDA loans during 2021. The total origination value was $74,035,000, with an average USDA loan value of $175,024.

Oklahoma City USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Oklahoma City averaged 6.25% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Oklahoma City's average USDA mortgage closing costs are $4,348.

The average rate for the prior week (2023-01-20) was 6.15% and one month ago for the week of 2022-12-23, the average rate was 6.18%.

The average rate one year ago was 3.73%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.88%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 109 3.29% $3,270
CORNERSTONE HOME LENDING, INC. 37 3.09% $5,844
GUILD MORTGAGE COMPANY 22 2.91% $4,585
LOANDEPOT.COM, LLC 17 3.20% $6,055
Chickasaw Community Bank 16 3.15% $4,005
BancFirst 14 2.98% $4,837
First United Bank and Trust Company 14 2.79% $5,015
CALIBER HOME LOANS, INC. 12 2.94% $5,916
GUARANTY HOME MORTGAGE CORPORATION 12 2.97% $5,106
GUARANTEED RATE, INC. 10 2.79% $5,021
ASSOCIATED MORTGAGE CORPORATION 10 2.96% $5,039
Gateway First Bank 8 3.41% $4,823
First Guaranty Mortgage Corporation 8 3.05% $4,695
CERTAINTY HOME LOANS, LLC 7 2.86% $4,754
F & M Bank 7 2.86% $4,061
Hometown Lenders, Inc. 7 3.36% $5,566
MID AMERICA MORTGAGE, INC. 6 3.08% $3,829
HOME POINT FINANCIAL CORPORATION 6 3.10% $5,243
Great Plains National Bank 6 3.15% $5,557
INTERLINC MORTGAGE SERVICES, LLC 5 3.13% $3,254
Stride Bank 5 3.18% $5,103
Arvest Bank 4 3.00% $5,237
UNION HOME MORTGAGE CORP. 4 2.78% $5,799
FLAT BRANCH MORTGAGE, INC. 3 3.17% $5,028
FIRST AMERICAN MORTGAGE, INC. 3 3.20% $3,940
Paramount Residential Mortgage Group, Inc. 3 3.33% $5,684
AMCAP MORTGAGE, LTD. 3 3.75% $5,771
BOKF 2 3.13% $4,860
Armstrong Bank 2 3.00% $6,608
Carrington Mortgage Services, LLC 2 3.06% $6,429
CMG MORTGAGE, INC. 2 2.81% $5,026
CWM PARTNERS, L.P. 2 2.44% $4,610
EVERETT FINANCIAL, INC. 2 3.19% $3,113
Goldwater Bank, N.A. 2 2.69% $5,887
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.81% $4,240
Hometown Equity Mortgage, LLC 2 2.69% $4,974
LEADERONE FINANCIAL CORPORATION 2 3.00% $3,255
MORTGAGE FINANCIAL SERVICES, LLC 2 3.00% $5,975
UNITED WHOLESALE MORTGAGE, LLC 2 3.00% $4,939
The First State Bank 1 2.38% $5,138
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $4,387
AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $5,422
Equity Prime Mortgage LLC 1 3.13% $5,982
CRESCENT MORTGAGE COMPANY 1 2.75% $4,876
United Fidelity Funding Corp. 1 3.13% $10,178
Citizens Bank 1 3.25% $5,666
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $6,312
U.S. Bank 1 3.25% $4,826
OPEN MORTGAGE, LLC 1 3.25% $6,255
BROKER SOLUTIONS, INC. 1 3.25% $5,283
PLANET HOME LENDING, LLC 1 4.88% $5,147
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.99% $4,698
RCB Bank 1 3.38% $5,025
SOUTHWEST FUNDING, LP 1 3.25% $8,414
STEARNS LENDING, LLC 1 2.88% $5,251
BNC National Bank 1 2.63% $5,820
SWBC MORTGAGE CORPORATION 1 3.63% $1,626
Flagstar Bank, FSB 1 2.45% $5,699
GSF Mortgage Corporation 1 3.63% $6,876
FirstTrust Home Loans, Inc. 1 2.75% $6,159
Firstar Bank 1 3.38% $6,773
Fidelity Bank 1 2.88% $4,488

The top Oklahoma City USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 109 USDA loans originated. Their average total fees are $3,270, which is $2,574 lower than the next largest lender, CORNERSTONE HOME LENDING, INC..

The lowest fee Oklahoma City USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($3,270), Chickasaw Community Bank ($4,005), GUILD MORTGAGE COMPANY ($4,585), BancFirst ($4,837) and First United Bank and Trust Company ($5,015).

The lowest rate Oklahoma City USDA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. (2.79%), First United Bank and Trust Company (2.79%), GUILD MORTGAGE COMPANY (2.91%), CALIBER HOME LOANS, INC. (2.94%) and ASSOCIATED MORTGAGE CORPORATION (2.96%).


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%) 0.81 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 $244,338 (4.9%) $324,094 (7.6%) 0.80 4,912
2019-04-01 $253,395 (6.8%) $334,482 (9.0%) 0.80 4,867
2019-05-01 $258,700 (8.7%) $339,254 (9.7%) 0.81 4,856
2019-06-01 $256,000 (8.9%) $339,563 (9.4%) 0.80 4,911
2019-07-01 $255,450 (8.1%) $339,764 (8.7%) 0.80 5,129
2019-08-01 $252,064 (8.0%) $338,966 (10.1%) 0.80 5,110
2019-09-01 $252,309 (7.8%) $338,064 (9.4%) 0.81 5,035
2019-10-01 $252,473 (7.9%) $337,140 (7.9%) 0.81 4,984
2019-11-01 $250,000 (5.9%) $338,079 (7.0%) 0.82 4,876
2019-12-01 $250,000 (6.4%) $339,764 (6.8%) 0.83 4,529
2020-01-01 $250,170 (6.7%) $337,744 (7.4%) 0.84 4,264
2020-02-01 $255,000 (8.1%) $339,841 (8.8%) 0.83 4,109
2020-03-01 $262,725 (7.5%) $344,637 (6.3%) 0.82 4,081
2020-04-01 $263,070 (3.8%) $344,127 (2.9%) 0.82 4,262
2020-05-01 $268,252 (3.7%) $353,817 (4.3%) 0.82 4,077
2020-06-01 $290,000 (13.3%) $386,916 (14.0%) 0.85 3,672
2020-07-01 $282,941 (10.8%) $386,384 (13.7%) 0.82 3,536
2020-08-01 $269,900 (7.1%) $374,566 (10.5%) 0.77 3,325
2020-09-01 $279,900 (10.9%) $393,057 (16.3%) 0.80 3,079
2020-10-01 $280,000 (10.9%) $398,732 (18.3%) 0.80 2,975
2020-11-01 $274,475 (9.8%) $393,731 (16.5%) 0.80 2,874
2020-12-01 $267,445 (7.0%) $389,859 (14.7%) 0.79 2,605
2021-01-01 $264,900 (5.9%) $382,176 (13.2%) 0.79 2,139
2021-02-01 $289,250 (13.4%) $415,461 (22.3%) 0.84 1,782
2021-03-01 $287,500 (9.4%) $419,545 (21.7%) 0.82 1,624
2021-04-01 $295,538 (12.3%) $435,539 (26.6%) 0.80 1,428
2021-05-01 $285,500 (6.4%) $426,080 (20.4%) 0.76 1,484
2021-06-01 $284,980 (-1.7%) $427,634 (10.5%) 0.75 1,743
2021-07-01 $285,000 (0.7%) $414,179 (7.2%) 0.75 2,107
2021-08-01 $279,701 (3.6%) $396,750 (5.9%) 0.75 2,395
2021-09-01 $275,450 (-1.6%) $390,456 (-0.7%) 0.73 2,427
2021-10-01 $274,650 (-1.9%) $400,390 (0.4%) 0.73 2,322
2021-11-01 $289,496 (5.5%) $420,583 (6.8%) 0.77 2,224
2021-12-01 $290,000 (8.4%) $410,599 (5.3%) 0.79 2,003
2022-01-01 $309,100 (16.7%) $425,933 (11.5%) 0.84 1,661
2022-02-01 $327,750 (13.3%) $443,757 (6.8%) 0.85 1,397
2022-03-01 $338,623 (17.8%) $458,504 (9.3%) 0.85 1,310
2022-04-01 $310,000 (4.9%) $435,852 (0.1%) 0.74 1,446
2022-05-01 $325,000 (13.8%) $434,678 (2.0%) 0.74 1,850
2022-06-01 $320,004 (12.3%) $426,384 (-0.3%) 0.71 2,392
2022-07-01 $315,000 (10.5%) $409,344 (-1.2%) 0.71 3,101
2022-08-01 $318,300 (13.8%) $399,250 (0.6%) 0.74 3,356
2022-09-01 $320,245 (16.3%) $401,221 (2.8%) 0.75 3,275
2022-10-01 $320,000 (16.5%) $404,953 (1.1%) 0.75 3,561
2022-11-01 $325,000 (12.3%) $408,976 (-2.8%) 0.78 3,677
2022-12-01 $324,023 (11.7%) $403,032 (-1.8%) 0.81 3,536
Oklahoma City's median listing price for 2022-12-01 was $324,023, a difference of $34,023 (11.7%) versus the prior year and $-977 versus the prior month.

Oklahoma City's median listing price comes in at 81% of the national average.

Oklahoma City's average listing price for 2022-12-01 was $403,032, a difference of $-7,567 (-1.8%) versus the prior year and $-5,944 versus the prior month.

For the 2022-12-01 period, Oklahoma City had 3,536 MLS listings, a difference of -141 listings (-4%) versus the prior month and 1,533 listings (77%) 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 75 days 2,065 sqft
2018-02-01 69 days 2,059 sqft
2018-03-01 60 days 2,099 sqft
2018-04-01 52 days 2,132 sqft
2018-05-01 50 days 2,127 sqft
2018-06-01 50 days 2,117 sqft
2018-07-01 54 days 2,123 sqft
2018-08-01 58 days 2,107 sqft
2018-09-01 60 days 2,106 sqft
2018-10-01 61 days 2,100 sqft
2018-11-01 63 days 2,096 sqft
2018-12-01 73 days 2,076 sqft
2019-01-01 77 days 2,051 sqft
2019-02-01 68 days 2,052 sqft
2019-03-01 57 days 2,095 sqft
2019-04-01 45 days 2,143 sqft
2019-05-01 44 days 2,160 sqft
2019-06-01 45 days 2,150 sqft
2019-07-01 47 days 2,148 sqft
2019-08-01 49 days 2,138 sqft
2019-09-01 51 days 2,136 sqft
2019-10-01 53 days 2,132 sqft
2019-11-01 55 days 2,100 sqft
2019-12-01 63 days 2,094 sqft
2020-01-01 63 days 2,056 sqft
2020-02-01 50 days 2,065 sqft
2020-03-01 43 days 2,097 sqft
2020-04-01 45 days 2,100 sqft
2020-05-01 50 days 2,111 sqft
2020-06-01 46 days 2,236 sqft
2020-07-01 46 days 2,202 sqft
2020-08-01 50 days 2,114 sqft
2020-09-01 46 days 2,136 sqft
2020-10-01 45 days 2,136 sqft
2020-11-01 47 days 2,093 sqft
2020-12-01 53 days 2,030 sqft
2021-01-01 56 days 1,998 sqft
2021-02-01 45 days 2,076 sqft
2021-03-01 44 days 2,094 sqft
2021-04-01 40 days 2,108 sqft
2021-05-01 38 days 2,064 sqft
2021-06-01 36 days 2,008 sqft
2021-07-01 36 days 1,986 sqft
2021-08-01 36 days 1,949 sqft
2021-09-01 42 days 1,892 sqft
2021-10-01 43 days 1,871 sqft
2021-11-01 41 days 1,945 sqft
2021-12-01 48 days 1,918 sqft
2022-01-01 53 days 1,981 sqft
2022-02-01 45 days 1,999 sqft
2022-03-01 36 days 2,006 sqft
2022-04-01 34 days 1,936 sqft
2022-05-01 30 days 1,932 sqft
2022-06-01 31 days 1,916 sqft
2022-07-01 37 days 1,907 sqft
2022-08-01 41 days 1,919 sqft
2022-09-01 48 days 1,951 sqft
2022-10-01 48 days 1,980 sqft
2022-11-01 50 days 1,988 sqft
2022-12-01 62 days 1,990 sqft
Oklahoma City's median listing age (time on market) for 2022-12-01 was 62 days. This is 31% longer than the same period one year ago.

Oklahoma City's median square footage for active listings during the 2022-12-01 period was 1,990 sqft. One year prior, the average listing was 1,918 sqft.