Oklahoma City VA Loan Rates, Closing Costs & Stats
OKLAHOMA CITY, OK
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.
The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.
For additional benefits of VA loans, click here.
Oklahoma City's 192 lenders originated 7,623 VA loans during 2021. The total origination value was $1,893,435,000, with an average VA loan value of $248,384.
Oklahoma City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Oklahoma City
averaged
0.18%
for the week of 2022-11-25, compared to the national average (all VA variants) of
0% for the same period.
Oklahoma City's average VA mortgage closing costs are $5,125.
The average rate for the prior week (2022-11-18) was
6.87% and
one month ago for the week of 2022-10-21, the
average rate was 7.12%.
The average rate one year ago was 3.4%.
For refis of the same type during the week of 2022-11-25, the average rate
was -0.09%.
Oklahoma City VA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Oklahoma City level.
The top Oklahoma City VA lender as defined by loan originations is Mortgage Research Center, LLC, with
714 VA loans originated. Their average total fees are
$5,182, which is $258
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Oklahoma City VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,374), MOVEMENT MORTGAGE, LLC ($2,804), LAKEVIEW LOAN SERVICING, LLC ($3,271), VILLAGE CAPITAL MORTGAGE ($3,464) and MID AMERICA MORTGAGE, INC. ($3,494).
The lowest rate Oklahoma City VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.28%), PENTAGON FEDERAL CREDIT UNION (2.33%), KS StateBank (2.35%), North American Savings Bank, F.S.B. (2.36%) and Low VA Rates, LLC (2.37%).
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%) | $289,262 (4.4%) | 0.83 | 5,887 |
| 2018-02-01 | $224,500 (3.0%) | $292,545 (5.1%) | 0.81 | 5,736 |
| 2018-03-01 | $233,028 (5.7%) | $301,123 (6.4%) | 0.82 | 5,640 |
| 2018-04-01 | $237,500 (5.6%) | $306,731 (6.1%) | 0.81 | 5,738 |
| 2018-05-01 | $238,088 (3.5%) | $309,270 (3.4%) | 0.80 | 5,799 |
| 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 | 5,654 |
| 2019-01-01 | $234,373 (4.3%) | $314,478 (8.7%) | 0.81 | 5,166 |
| 2019-02-01 | $235,986 (5.1%) | $312,372 (6.8%) | 0.80 | 5,064 |
| 2019-03-01 | $244,360 (4.9%) | $324,089 (7.6%) | 0.80 | 4,913 |
| 2019-04-01 | $253,420 (6.7%) | $334,479 (9.1%) | 0.80 | 4,867 |
| 2019-05-01 | $258,700 (8.7%) | $339,286 (9.7%) | 0.81 | 4,854 |
| 2019-06-01 | $256,000 (8.9%) | $339,595 (9.4%) | 0.80 | 4,910 |
| 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 | $262,422 (7.4%) | $344,548 (6.3%) | 0.82 | 4,085 |
| 2020-04-01 | $262,950 (3.8%) | $344,040 (2.9%) | 0.82 | 4,266 |
| 2020-05-01 | $268,220 (3.7%) | $353,748 (4.3%) | 0.82 | 4,080 |
| 2020-06-01 | $289,999 (13.3%) | $386,826 (13.9%) | 0.85 | 3,675 |
| 2020-07-01 | $282,450 (10.6%) | $386,313 (13.7%) | 0.82 | 3,538 |
| 2020-08-01 | $269,900 (7.1%) | $374,610 (10.5%) | 0.77 | 3,325 |
| 2020-09-01 | $279,900 (10.9%) | $392,995 (16.3%) | 0.80 | 3,080 |
| 2020-10-01 | $279,995 (10.9%) | $398,773 (18.3%) | 0.80 | 2,974 |
| 2020-11-01 | $274,450 (9.8%) | $393,820 (16.5%) | 0.80 | 2,873 |
| 2020-12-01 | $267,423 (7.0%) | $389,882 (14.8%) | 0.79 | 2,604 |
| 2021-01-01 | $264,900 (5.9%) | $382,219 (13.2%) | 0.79 | 2,139 |
| 2021-02-01 | $289,250 (13.4%) | $415,530 (22.3%) | 0.84 | 1,781 |
| 2021-03-01 | $287,500 (9.6%) | $419,612 (21.8%) | 0.82 | 1,623 |
| 2021-04-01 | $295,538 (12.4%) | $435,474 (26.6%) | 0.80 | 1,428 |
| 2021-05-01 | $285,500 (6.4%) | $426,080 (20.5%) | 0.76 | 1,484 |
| 2021-06-01 | $284,980 (-1.7%) | $427,634 (10.6%) | 0.75 | 1,744 |
| 2021-07-01 | $285,000 (0.9%) | $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%) | $410,606 (5.3%) | 0.79 | 2,003 |
| 2022-01-01 | $309,100 (16.7%) | $425,933 (11.4%) | 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 | $319,977 (12.3%) | $426,387 (-0.3%) | 0.71 | 2,391 |
| 2022-07-01 | $315,000 (10.5%) | $409,341 (-1.2%) | 0.71 | 3,101 |
| 2022-08-01 | $318,300 (13.8%) | $399,152 (0.6%) | 0.74 | 3,355 |
| 2022-09-01 | $320,123 (16.2%) | $401,123 (2.7%) | 0.75 | 3,274 |
| 2022-10-01 | $320,000 (16.5%) | $404,953 (1.1%) | 0.75 | 3,561 |
Oklahoma City's median listing price comes in at 75% of the national average.
Oklahoma City's average listing price for 2022-10-01 was $404,953, a difference of $4,563 (1.1%) versus the prior year and $3,830 versus the prior month.
For the 2022-10-01 period, Oklahoma City had 3,561 MLS listings, a difference of 287 listings (9%) versus the prior month and 1,239 listings (53%) 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 | 2,096 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 | 2,115 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 | 2,031 sqft |
| 2021-01-01 | 56 days | 1,998 sqft |
| 2021-02-01 | 45 days | 2,077 sqft |
| 2021-03-01 | 44 days | 2,095 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 | 1,917 sqft |
| 2022-01-01 | 53 days | 1,979 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 | 1,979 sqft |
Oklahoma City's median square footage for active listings during the 2022-10-01 period was 1,979 sqft. One year prior, the average listing was 1,871 sqft.
