Mortgage for Oklahoma (2026)
Oklahoma (OK) Key Facts
Median Home Price
$200,000
Average Property Tax Rate
0.9%
Average Home Insurance Rate
1.3%
Estimated Monthly Payment
$1,534
First Time Buyer Programs
2
How This Calculator Works in Oklahoma
This mortgage calculator lets you estimate your monthly payment on a Oklahoma home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Oklahoma's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Oklahoma Overview
Oklahoma has a median home price of approximately $200K, with an average property tax rate of 0.9% and homeowners insurance averaging 1.3% annually. Very affordable. OHFA Dream and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Oklahoma Compares
Compared to neighboring states, Oklahoma's median home price of $200,000 is below the national median of about $420,000. Nearby Texas has a median price of $300,000 with a 1.8% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Texas | $300,000 | Median home price is $300,000 with a 1.8% property tax rate. Estimated monthly mortgage payment is about $2,501. |
| Kansas | $225,000 | Median home price is $225,000 with a 1.41% property tax rate. Estimated monthly mortgage payment is about $1,728. |
| Arkansas | $210,000 | Median home price is $210,000 with a 0.62% property tax rate. Estimated monthly mortgage payment is about $1,492. |
The median home price in Oklahoma is $200,000, compared to the national median of approximately $420,000. With a 0.9% average property tax rate and 1.3% insurance rate, Oklahoma homeowners can expect an estimated monthly payment of about $1,534 on a median-priced home with 10% down at 6.75% interest.
Tips for Oklahoma Residents
- 1Oklahoma has a median home price around $200K. Very affordable. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Oklahoma average 0.9%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore OHFA Dream & Gold programs for potential down payment assistance and favorable rates. Oklahoma also offers OHFA OMES Shield Program. Check income limits and eligibility early in your home search.
- 4Among most affordable states; budget for tornado/wind insurance. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Low cost of living. A 0.25% rate difference on a $200K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
on LegalDraft