Oklahoma City USDA Loan Rates, Closing Costs & Stats

OKLAHOMA CITY, OK

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 46 lenders originated 130 USDA loans during 2023. The total origination value was $23,440,000, with an average USDA loan value of $180,308.

    Oklahoma City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Oklahoma City averaged 6.76% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Oklahoma City's average USDA mortgage closing costs are $4,693.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.69%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CORNERSTONE HOME LENDING, INC. 14 6.15% $8,545
    GUILD MORTGAGE COMPANY 7 6.89% $5,970
    OPEN MORTGAGE, LLC 6 6.08% $8,258
    Stride Bank 6 6.38% $6,371
    UNITED WHOLESALE MORTGAGE, LLC 6 6.43% $6,209
    F & M Bank 5 6.48% $4,047
    First United Bank and Trust Company 5 7.43% $6,141
    GUARANTEED RATE, INC. 5 6.27% $6,725
    Chickasaw Community Bank 4 6.81% $6,538
    NEWREZ LLC 4 6.88% $8,456
    FIRST AMERICAN MORTGAGE, INC. 3 6.21% $5,751
    Flagstar Bank, FSB 3 6.71% $7,889
    Century Mortgage Company DBA Century Lending Company 3 6.92% $6,730
    Arvest Bank 3 6.08% $6,850
    The Central Trust Bank 2 5.81% $9,077
    BancFirst 2 7.06% $4,231
    CARDINAL FINANCIAL 2 5.94% $10,625
    CMG MORTGAGE, INC. 2 6.06% $7,958
    FINANCIAL CONCEPTS MORTGAGE, LLC 2 6.25% $7,061
    First National Bank and Trust Company 2 6.56% $6,383
    Gateway First Bank 2 7.00% $8,503
    Great Plains National Bank 2 6.25% $7,745
    Mortgage Investment Services Corporation 2 7.25% $5,289
    PLAZA HOME MORTGAGE, INC. 2 6.13% $5,787
    ROYAL UNITED MORTGAGE LLC 2 6.81% $7,092
    Unify Home Lending Inc. 2 6.19% $2,967
    UNION HOME MORTGAGE CORP. 2 7.19% $5,919
    INTERCAP LENDING INC. 1 5.63% $8,085
    LEGEND LENDING CORPORATION 1 7.63% $5,666
    MID AMERICA MORTGAGE, INC. 1 6.25% $2,563
    THE MORTGAGE LINK, INC. 1 7.63% $6,892
    Mortgage Research Center, LLC 1 6.99% $1,945
    Nations Lending Corporation 1 6.13% $14,979
    Equity Prime Mortgage LLC 1 7.38% $7,285
    CHURCHILL MORTGAGE CORPORATION 1 7.49% $5,582
    Plains Commerce Bank 1 6.63% $7,194
    United Fidelity Funding Corp. 1 6.63% $8,230
    RESIDENTIAL BANCORP 1 6.25% $11,565
    ASSOCIATED MORTGAGE CORPORATION 1 5.63% $4,201
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $4,462
    GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $4,661
    BOKF 1 6.13% $4,992
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.63% $3,455
    FIRST COMMUNITY MORTGAGE, INC. 1 6.88% $4,508
    GUARANTY HOME MORTGAGE CORPORATION 1 6.75% $6,817
    EVERETT FINANCIAL, INC. 1 7.13% $3,771

    The top Oklahoma City USDA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with 14 USDA loans originated. Their average total fees are $8,545, which is $2,575 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Oklahoma City USDA lenders (with over 10 loans originated) are CORNERSTONE HOME LENDING, INC. ($8,545), .

    The lowest rate Oklahoma City USDA lenders (with over 10 loans originated) are CORNERSTONE HOME LENDING, INC. (6.15%), .

    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 $224,625 (3.6%) $289,303 (4.4%) 0.83 5,885
    2018-02-01 $224,500 (3.0%) $292,603 (5.1%) 0.82 5,734
    2018-03-01 $233,055 (5.7%) $301,200 (6.5%) 0.82 5,639
    2018-04-01 $237,500 (5.6%) $306,794 (6.2%) 0.81 5,736
    2018-05-01 $238,088 (3.5%) $309,325 (3.4%) 0.80 5,797
    2018-06-01 $235,000 (2.2%) $310,440 (3.7%) 0.78 6,071
    2018-07-01 $236,250 (4.3%) $312,663 (5.3%) 0.79 6,270
    2018-08-01 $233,450 (3.8%) $307,954 (4.5%) 0.78 6,338
    2018-09-01 $234,000 (4.0%) $309,152 (5.2%) 0.79 6,125
    2018-10-01 $234,055 (4.3%) $312,495 (6.7%) 0.79 6,035
    2018-11-01 $236,000 (6.0%) $316,134 (8.6%) 0.80 6,002
    2018-12-01 $234,900 (4.5%) $318,080 (9.5%) 0.81 5,652
    2019-01-01 $234,425 (4.4%) $314,541 (8.7%) 0.81 5,164
    2019-02-01 $235,993 (5.1%) $312,419 (6.8%) 0.80 5,062
    2019-03-01 $244,742 (5.0%) $324,103 (7.6%) 0.80 4,910
    2019-04-01 $253,388 (6.7%) $334,334 (9.0%) 0.80 4,863
    2019-05-01 $258,701 (8.7%) $339,316 (9.7%) 0.81 4,845
    2019-06-01 $256,000 (8.9%) $339,689 (9.4%) 0.80 4,901
    2019-07-01 $255,450 (8.1%) $339,886 (8.7%) 0.80 5,121
    2019-08-01 $252,209 (8.0%) $339,141 (10.1%) 0.80 5,103
    2019-09-01 $252,598 (8.0%) $338,264 (9.4%) 0.81 5,026
    2019-10-01 $252,857 (8.0%) $337,359 (8.0%) 0.82 4,975
    2019-11-01 $250,000 (5.9%) $338,294 (7.0%) 0.82 4,866
    2019-12-01 $250,000 (6.4%) $340,009 (6.9%) 0.83 4,520
    2020-01-01 $250,420 (6.8%) $337,996 (7.5%) 0.84 4,255
    2020-02-01 $255,000 (8.1%) $340,099 (8.9%) 0.83 4,100
    2020-03-01 $263,045 (7.5%) $345,031 (6.5%) 0.82 4,068
    2020-04-01 $263,500 (4.0%) $344,511 (3.0%) 0.83 4,249
    2020-05-01 $268,400 (3.8%) $354,200 (4.4%) 0.82 4,065
    2020-06-01 $290,000 (13.3%) $387,484 (14.1%) 0.85 3,658
    2020-07-01 $283,250 (10.9%) $387,000 (13.9%) 0.82 3,520
    2020-08-01 $269,900 (7.0%) $375,059 (10.6%) 0.77 3,309
    2020-09-01 $279,990 (10.8%) $393,775 (16.4%) 0.80 3,064
    2020-10-01 $280,000 (10.7%) $399,411 (18.4%) 0.80 2,960
    2020-11-01 $274,500 (9.8%) $394,403 (16.6%) 0.80 2,860
    2020-12-01 $267,450 (7.0%) $390,267 (14.8%) 0.80 2,591
    2021-01-01 $264,900 (5.8%) $382,725 (13.2%) 0.79 2,126
    2021-02-01 $289,300 (13.5%) $416,273 (22.4%) 0.84 1,771
    2021-03-01 $287,710 (9.4%) $419,976 (21.7%) 0.82 1,611
    2021-04-01 $295,750 (12.2%) $435,367 (26.4%) 0.80 1,414
    2021-05-01 $286,900 (6.9%) $425,803 (20.2%) 0.76 1,473
    2021-06-01 $284,935 (-1.8%) $427,356 (10.3%) 0.75 1,734
    2021-07-01 $285,000 (0.6%) $413,908 (7.0%) 0.75 2,098
    2021-08-01 $279,751 (3.7%) $396,437 (5.7%) 0.75 2,388
    2021-09-01 $275,642 (-1.6%) $390,030 (-1.0%) 0.74 2,420
    2021-10-01 $274,993 (-1.8%) $399,764 (0.1%) 0.73 2,314
    2021-11-01 $289,552 (5.5%) $420,330 (6.6%) 0.77 2,213
    2021-12-01 $290,000 (8.4%) $410,654 (5.2%) 0.79 1,990
    2022-01-01 $309,700 (16.9%) $426,093 (11.3%) 0.84 1,649
    2022-02-01 $329,170 (13.8%) $443,992 (6.7%) 0.86 1,385
    2022-03-01 $339,428 (18.0%) $458,237 (9.1%) 0.85 1,298
    2022-04-01 $314,490 (6.3%) $435,093 (-0.1%) 0.75 1,434
    2022-05-01 $325,805 (13.6%) $434,571 (2.1%) 0.74 1,838
    2022-06-01 $321,990 (13.0%) $426,215 (-0.3%) 0.72 2,376
    2022-07-01 $315,500 (10.7%) $409,500 (-1.1%) 0.71 3,084
    2022-08-01 $319,344 (14.2%) $399,322 (0.7%) 0.74 3,336
    2022-09-01 $322,245 (16.9%) $401,421 (2.9%) 0.75 3,255
    2022-10-01 $320,000 (16.4%) $405,015 (1.3%) 0.75 3,541
    2022-11-01 $325,000 (12.2%) $409,054 (-2.7%) 0.78 3,656
    2022-12-01 $324,990 (12.1%) $404,474 (-1.5%) 0.80 3,489
    2023-01-01 $338,837 (9.4%) $415,119 (-2.6%) 0.84 3,293
    2023-02-01 $349,204 (6.1%) $422,130 (-4.9%) 0.84 3,052
    2023-03-01 $350,000 (3.1%) $427,123 (-6.8%) 0.83 2,967
    2023-04-01 $353,900 (12.5%) $429,085 (-1.4%) 0.82 2,913
    2023-05-01 $354,653 (8.9%) $431,604 (-0.7%) 0.80 3,023
    2023-06-01 $350,000 (8.7%) $434,286 (1.9%) 0.79 3,071
    2023-07-01 $347,250 (10.1%) $431,505 (5.4%) 0.79 3,426
    2023-08-01 $339,858 (6.4%) $420,632 (5.3%) 0.78 3,605
    2023-09-01 $329,990 (2.4%) $416,892 (3.9%) 0.77 3,741
    2023-10-01 $334,723 (4.6%) $413,774 (2.2%) 0.79 3,947
    2023-11-01 $329,450 (1.4%) $408,881 (0.0%) 0.78 4,075
    2023-12-01 $320,000 (-1.5%) $403,506 (-0.2%) 0.78 4,015
    2024-01-01 $319,500 (-5.7%) $400,019 (-3.6%) 0.78 3,830
    2024-02-01 $323,326 (-7.4%) $404,364 (-4.2%) 0.78 3,658
    2024-03-01 $320,900 (-8.3%) $414,765 (-2.9%) 0.76 3,646
    Oklahoma City's median listing price for 2024-03-01 was $320,900, a difference of $-29,100 (-8.3%) versus the prior year and $-2,426 versus the prior month.

    Oklahoma City's median listing price comes in at 76% of the national average.

    Oklahoma City's average listing price for 2024-03-01 was $414,765, a difference of $-12,358 (-2.9%) versus the prior year and $10,401 versus the prior month.

    For the 2024-03-01 period, Oklahoma City had 3,646 MLS listings, a difference of -12 listings (0%) versus the prior month and 679 listings (23%) 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 48 days 2,127 sqft
    2018-06-01 48 days 2,117 sqft
    2018-07-01 52 days 2,124 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 2,097 sqft
    2018-12-01 72 days 2,077 sqft
    2019-01-01 74 days 2,052 sqft
    2019-02-01 66 days 2,052 sqft
    2019-03-01 55 days 2,095 sqft
    2019-04-01 44 days 2,143 sqft
    2019-05-01 43 days 2,161 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 2,101 sqft
    2019-12-01 62 days 2,095 sqft
    2020-01-01 62 days 2,057 sqft
    2020-02-01 49 days 2,066 sqft
    2020-03-01 41 days 2,097 sqft
    2020-04-01 44 days 2,100 sqft
    2020-05-01 47 days 2,112 sqft
    2020-06-01 44 days 2,239 sqft
    2020-07-01 46 days 2,205 sqft
    2020-08-01 50 days 2,116 sqft
    2020-09-01 45 days 2,137 sqft
    2020-10-01 43 days 2,142 sqft
    2020-11-01 46 days 2,094 sqft
    2020-12-01 51 days 2,031 sqft
    2021-01-01 55 days 1,998 sqft
    2021-02-01 44 days 2,077 sqft
    2021-03-01 44 days 2,097 sqft
    2021-04-01 40 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 1,949 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 1,982 sqft
    2022-02-01 43 days 1,999 sqft
    2022-03-01 35 days 2,008 sqft
    2022-04-01 33 days 1,932 sqft
    2022-05-01 29 days 1,931 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 37 days 1,910 sqft
    2022-08-01 40 days 1,919 sqft
    2022-09-01 48 days 1,952 sqft
    2022-10-01 47 days 1,970 sqft
    2022-11-01 49 days 1,985 sqft
    2022-12-01 60 days 1,989 sqft
    2023-01-01 64 days 2,025 sqft
    2023-02-01 53 days 2,029 sqft
    2023-03-01 51 days 2,043 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
    2023-09-01 46 days 2,000 sqft
    2023-10-01 46 days 2,000 sqft
    2023-11-01 50 days 1,988 sqft
    2023-12-01 58 days 1,949 sqft
    2024-01-01 59 days 1,930 sqft
    2024-02-01 55 days 1,947 sqft
    2024-03-01 45 days 1,925 sqft
    Oklahoma City's median listing age (time on market) for 2024-03-01 was 45 days. This is -11% shorter than the same period one year ago.

    Oklahoma City's median square footage for active listings during the 2024-03-01 period was 1,925 sqft. One year prior, the average listing was 2,043 sqft.