Oklahoma Mortgage Calculator
The median home price in Oklahoma is $215,000. With a 20% down payment at the state's average 30-year fixed rate of 7.18%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $1,510. Oklahoma's property tax rate of 0.9% annually is below the U.S. national average of 1.07%.
A buyer earning Oklahoma's median household income of $58,000 would dedicate roughly 31% of gross monthly income to housing — moderately stretched by the standard 28% guideline.
Median Home Price
$215,000
Avg 30-yr Rate
7.18%
Property Tax Rate
0.9%/yr
Est. Monthly PITI
$1,510
Mortgage Calculator
Total Monthly Payment
$1,509.77
Loan Amount
$172,000
Total Paid
$419,468
Total Interest
$247,468
How to Get a Mortgage in Oklahoma
- 1 Check your credit score. In Oklahoma, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $215,000 Oklahoma home, 20% down is $43,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Oklahoma average 7.18%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $5,160–$8,600 on a median Oklahoma purchase.
- 5 Budget for ongoing costs: Oklahoma property taxes average 0.9%/yr ($1,935/yr on the median home), plus homeowner's insurance averaging $2.200/yr.
Monthly Cost Breakdown — Median Oklahoma Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Oklahoma Mortgage FAQs
What is the average home price in Oklahoma?
The median home price in Oklahoma is $215,000 (2024 estimate). With a typical 20% down payment of $43,000, a buyer would finance $172,000 at a 30-year fixed rate.
What are property taxes like in Oklahoma?
Oklahoma has an average effective property tax rate of 0.9% of assessed home value. On a $215,000 home, that's approximately $1,935 per year ($161/month) — below the national average of 1.07%.
How much income do I need to buy a home in Oklahoma?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Oklahoma home, you'd need to earn roughly $64,704 per year. The state's median household income is $58,000, meaning the typical household allocates about 31% of gross income to housing — moderately stretched.
What is the average mortgage rate in Oklahoma?
The average 30-year fixed mortgage rate in Oklahoma is approximately 7.18% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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