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 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.