What are average mortgage rates in Oklahoma in 2026?

Mortgage rates in Oklahoma generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Oklahoma mortgage calculator to model your payment at current rates.

How much are closing costs in Oklahoma?

Closing costs in Oklahoma typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Oklahoma mortgage calculator to include closing costs in your calculation.

What are property tax rates in Oklahoma?

Property tax rates in Oklahoma range from 0.3% to 2.5% of assessed value. CalcDeck's Oklahoma calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Oklahoma?

Oklahoma offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Oklahoma calculator to see how programs affect your payment.

How do I use the CalcDeck Oklahoma mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Oklahoma averages. Get instant monthly payment, total interest, and amortization schedule.

Oklahoma Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Oklahoma homeowners.

Oklahoma at a Glance

Median Home Price: $195,000
Property Tax Rate: 0.88%
Median Household Income: $60,076
Annual Property Tax: $1,716

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Oklahoma

Based on the Oklahoma median home price of $195,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$156,000	$185,250
Principal and Interest	$1,007	$1,195
Property Tax (OK)	$143	$143
Homeowners Insurance	$125	$125
PMI	$0	$77
Total Monthly	$1,275	$1,541

How Much House Can You Afford in Oklahoma?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$54,627/year to afford Oklahoma's median home
With 5% down, you need ~$66,024/year
Oklahoma's median household income is $60,076

Oklahoma insight: Oklahoma's property tax rate of 0.88% is near the national average.

Oklahoma Housing Market Overview

Oklahoma's housing market is extremely affordable, with a median home price of $195,000. Oklahoma City's median is $220,000, Tulsa $210,000, and Norman $240,000. Rural areas offer homes under $150,000. Inventory is at 3.5 months. The median household income of $60,076 yields a price-to-income ratio of 3.2, very affordable. The effective property tax rate of 0.88% is low, costing $1,716/year on a median home. However, Oklahoma sits in Tornado Alley, and homeowners insurance ($1,800–$2,500/year) reflects this risk. The energy sector drives economic cycles, and the state's low cost of living attracts remote workers.

First-Time Homebuyer Programs in Oklahoma

The Oklahoma Housing Finance Agency (OHFA) offers the OHFA Gold program, providing 30-year fixed-rate mortgages with down payment assistance up to 3.5% of the loan amount—capped at $6,825 on a $195,000 home. The OHFA Dream program offers the same assistance with more flexible credit requirements. OHFA also administers the Homebuyer Assistance Program, providing up to $7,500 in grants for households earning below 80% of area median income. Local programs include Oklahoma City's Homebuyer Assistance Program ($10,000 grants) and Tulsa's HomeOwnership Program ($5,000). Income limits: Oklahoma County caps at $72,000 for a two-person household; rural counties cap at $60,000.

Tips for Homebuyers in Oklahoma

1) Oklahoma's 0.88% property tax is low—only ~$143/month on a median home—but tornado insurance is costly. 2) Every Oklahoma home should have a storm shelter or safe room; verify this feature before buying. 3) The Oklahoma City market is competitive for homes under $250,000; expect multiple offers. 4) Buy in fall/winter for less competition and potential price reductions. 5) Expansive clay soils cause foundation issues statewide; always get a structural inspection. 6) Wells and septic systems are common outside city limits; budget $300–$500 for well and septic inspections.

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Oklahoma Mortgage FAQ

What is the median home price in Oklahoma?

The median home price in Oklahoma is approximately $195,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Oklahoma?

The effective property tax rate in Oklahoma is approximately 0.88% (Tax Foundation). On a $195,000 home, that is about $1,716/year in property taxes.

How much income do I need to buy a home in Oklahoma?

Using the 28/36 rule with 20% down at 6.7%, you would need about $54,627/year to afford the median Oklahoma home at $195,000. With 5% down (including PMI), about $66,024.

What will my monthly mortgage payment be in Oklahoma?

On Oklahoma's median home price of $195,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,275. With 5% down including PMI, about $1,541.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.