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Mortgage Calculator /With Taxes and PMI /Oklahoma

Oklahoma Mortgage Calculator

Set to Oklahoma’s own property tax rate of 0.75% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($44,400)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$1,335
Monthly payment
$1,132
Principal & interest
$139
Taxes
$65
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $177,600 Interest paid $229,889
20262056
Total of 360 payments$480,749
Principal$177,600
Interest$229,889
Taxes$49,950
Insurance$23,310
HOA fees$0
P&I 84.8% Taxes 10.4% Insurance 4.8%
15- vs 30-year term at 6.58%
15-year
$1,555/mo P&I
$102,283 total interest
30-year · current
$1,132/mo P&I
$229,889 total interest
The 15-year term saves $127,605 in interest. Which term is right for you?

What these numbers come from

Median home value
$222,100
Median tax bill
$1,672
Effective tax rate
0.75%
Rank of 51
27th highest

Oklahoma taxes property at about 0.75% of value against 0.89% nationally. On a $222,000 home that is $26 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Oklahoma home prices

20% down, 30-year fixed at 6.58%, with Oklahoma property tax of 0.75% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$133,000 $106,400 $678 $83 $800
$178,000 $142,400 $908 $111 $1,071
$222,000 median $177,600 $1,132 $139 $1,335
$278,000 $222,400 $1,417 $174 $1,672
$333,000 $266,400 $1,698 $208 $2,003

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Oklahoma taxes alone add $139 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $158 $974 $204 $177,442
Sep $159 $973 $204 $177,283
Oct $160 $972 $204 $177,123
Nov $161 $971 $204 $176,962
Dec $162 $970 $204 $176,801
2026 $799 $4,860 $1,018 $176,801
Jan $162 $969 $204 $176,638
Feb $163 $969 $204 $176,475
Mar $164 $968 $204 $176,311
Apr $165 $967 $204 $176,146
May $166 $966 $204 $175,980
Jun $167 $965 $204 $175,813

Refinancing in Oklahoma

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Oklahoma home loans in detail

Oklahoma Mortgage Overview

Oklahoma is an affordable and beautiful place to live. Its median home price is around $255,000, which is below the national average. With a population of almost 4 million people, there are plenty of areas to live and surround yourself with people you're proud to call a part of your community.

If you're looking to buy a home in OK, here are your loan options:

Oklahoma conventional loans

If you have good credit, at least a 660 credit score, you may qualify for a conventional loan. First-time homebuyers need just 3 percent down and subsequent buyers need 5 percent down. You'll also need a 36 percent debt ratio, or close to it. Borrowers pay mortgage insurance for only until they owe less than 80 percent of the home's value.

Oklahoma FHA loans

If you have less than perfect credit, you may qualify for an FHA loan. It requires a 580 credit score and 3.5 percent down. Your down payment can be gift funds or down payment assistance. If you have a lower credit score, you may qualify with a 10 percent down payment. 3.5 percent of the down payment must be your own funds.

Oklahoma VA loans

If you served our country, you may secure 100 financing from a VA loan from an Oklahoma VA lender. Veterans need a 620 credit score and proof they can afford the new mortgage plus existing debts. VA loans have disposable income requirements based on your family size and county. They don't charge mortgage insurance for the loan, but you may pay an upfront funding fee.

Oklahoma USDA loans

There are plenty of rural areas to live in OK. If your household income is less than 115 percent of the median income for your area, the USDA loan may be an option. You'll need a 640+ credit score and less than a 41 percent debt ratio. USDA loans don't require a down payment.

First-Time Homebuyer

Programs in Oklahoma

OHFA Down Payment Assistance

You may secure up to 3.5 percent of the sales price for a down payment and/or closing costs. You must have a 30-year fixed rate mortgage and buy in one of the 77 counties in OK.

Special programs for people in specific

professions

The OHFA provides low-cost mortgage options for first-time homebuyers in any of the following professions:

Teachers

You must work for any Oklahoma Accredited Public School and/or Private/Parochial School to qualify.

Firefighter

You must work as a firefighter in any OK county or as a volunteer firefighter.

Law enforcement

Police officers, sheriffs, patrol officers, and volunteer law enforcement are all eligible for low cost mortgage programs.

Emergency medical services

You must work in OK as an EMS provider.

State employees

Any employee of an Oklahoma state agency may qualify

Oklahoma mortgage FAQ

How much is property tax on a home in Oklahoma?
Oklahoma homeowners pay an effective property tax rate of about 0.75 percent of home value — the 27th highest of the 50 states and DC. On the state's median home value of $222,100 that works out to roughly $1,665 a year, or $139 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Oklahoma home?
At $222,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,132 a month. Adding Oklahoma property tax of roughly $139 a month and an estimated $65 of homeowner insurance brings the full payment to around $1,335.
What mortgage options are available in Oklahoma?
Oklahoma buyers can choose conventional loans (660 credit score, 3 percent down for first-time buyers, 5 percent for repeat buyers), FHA loans (580 score with 3.5 percent down, or 10 percent down with lower scores), VA loans for veterans (620 score, no down payment), and USDA loans for rural areas with no down payment, a 640 score, and income under 115 percent of the area median.
What first-time homebuyer programs does Oklahoma offer?
The Oklahoma Housing Finance Agency (OHFA) offers down payment assistance of up to 3.5 percent of the sales price for a down payment and closing costs on a 30-year fixed-rate mortgage in any of the state's 77 counties. OHFA also runs special low-cost mortgage programs for teachers, firefighters, law enforcement, EMS providers, and state employees.
Can you buy a home in Oklahoma with no money down?
Yes. VA loans give qualifying veterans 100 percent financing with a 620 credit score, and USDA loans require no down payment for rural buyers with a 640 score and income below 115 percent of the area median. Other buyers can pair the FHA loan's 3.5 percent minimum with OHFA assistance covering up to 3.5 percent of the sales price.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.