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 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.