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Last updated: Jun 20, 2024
6.119% APR 30 Year Fixed
$1,487 / month
Rate: 5.920%
Fees: $625
Points: 1.908
Pts amt: $4,770
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  • Minimum 620 credit score needed to prequalify
  • 0% down USDA loan for rural homebuyers
  • 97% of borrowers would recommend to friends or family
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  • 2024 FHA Loan tools and resources
  • Find answers to your mortgage questions
  • Easy to qualify, no obligation
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.

Oklahoma Mortgage Overview

Oklahoma is an affordable and beautiful place to live. Its median home price is around $136,000, 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:


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


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

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