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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.