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%.
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 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. 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%) | 0.82 | 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 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. LouisDate | 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 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.