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Key Takeaways for Oklahoma Home Buyers:

Here's what you need to know to get started if you’re looking at buying in the Sooner State.

Average Home Prices in Oklahoma

As of September 2025, the median sale price for a single-family home in Oklahoma is $216,292.

Average home price:

  • Oklahoma City: $203,240
  • Tulsa: $$212,641
  • Norman: $259,681
  • Edmond: $350,948

Source: zillow.com/home-values

Average Home Size in Oklahoma

The average size for a single-family home in Oklahoma is approximately 1,860 square feet.

Average home size:

  • Oklahoma City: 1,934 square feet
  • Tulsa: 1,995 square feet

Source: https://fred.stlouisfed.org/

Oklahoma State Taxes

  • Oklahoma’s individual income tax uses a graduated rate structure with brackets ranging from 0.25% up to 4.75% of taxable income.
  • The base state sales tax in Oklahoma is 4.5%, and when local sales taxes are added, the average combined state and local rate climbs to about 9.0%.
  • Property taxes in Oklahoma are among the lowest in the U.S., with an effective rate of approximately 0.76% of owner-occupied housing value.

How Much Can You Afford in Oklahoma?

Recommended
Monthly Payment:
$750.00

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$750.00
$1050
$1350

Affordable Home Prices With Your Recommended Payment

$107,844.08 house with $9,804.01 down. (10%)

$117,648.09 house with $19,608.02 down. (20%)

$127,452.10 house with $29,412.02 down. (30%)

These examples use the loan term provided and assume a fixed-rate mortgage with an interest rate of 6%.

Oklahoma Down Payment Assistance Programs

National Homebuyers Fund FHA Program

This down payment assistance program helps buyers get into a home with little to no upfront cost, offering up to 101.5% financing through an FHA first mortgage and a second lien.

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More about this program
  • FHA loan covers 96.5% of the purchase price
  • Second lien covers 3.5% or 5% for down payment or closing costs
  • Minimum credit score: 600 (660 for manual underwriting)
  • No first-time buyer requirement
  • No max DTI with DU/LP approval
  • Homebuyer education required (Fannie Mae HomeView – free online)
  • Non-occupant co-borrowers allowed
  • Eligible properties: Single-family homes, duplexes (2 units), PUDs, condos (agency approved), townhomes, manufactured homes allowed (except single-wides)

National Community Lending Program

This program supports low- to moderate-income buyers with down payment assistance and flexible financing to make homeownership more accessible.

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More about this program
  • 30-year fixed-rate conventional mortgage
  • Second lien offers up to 4% for down payment assistance
  • Max LTV/CLTV: 97% / 105%
  • Income limit: Up to 140% of area median income (AMI)
  • Minimum credit score: 660
  • DTI: Lesser of 50% or AUS approval
  • Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)

Oklahoma Housing Finance Agency (OHFA) Gold Loan Program

The Oklahoma Housing Finance Agency’s (OHFA) Gold Loan Program helps first-time and repeat home buyers achieve affordable homeownership through low-interest loans and down payment assistance. With options for both government and conventional loans, this program supports buyers across Oklahoma—including special benefits for public service professionals.

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More about this program

Program Highlights

  • Offers 3.5% of the total loan amount for down payment and closing costs

  • Available to first-time buyers, or any buyer purchasing in a targeted area

  • Purchase price limits: $349,525 (non-targeted) and $427,198 (targeted)

  • Special reduced rates for teachers, law enforcement, firefighters, EMTs, and state employees

  • Works with both government and conventional loans

  • Income limits vary by county and household size

  • Homebuyer education and participation through an OHFA-approved lender required

Oklahoma Housing Finance Agency (OHFA) Dream Loan Program

The Oklahoma Housing Finance Agency’s (OHFA) Dream Loan Program offers affordable financing options for buyers purchasing their primary residence — even if they currently own another property. The program supports both government and conventional loans with flexible income and purchase limits.

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More about this program

Program Highlights

  • Available to buyers purchasing their primary residence (ownership of another property allowed) 
  • Offers both government and Freddie Mac conventional loan options
  • Government loan limits: up to $150,000 annual income and $356,362 purchase price statewide
  • Freddie conventional loan limits: income varies by county; $453,100 purchase price statewide
  • Considers mortgage lender qualifying income for eligibility
  • Accessible through OHFA-approved lenders

Churchill Mortgage is an approved lender for these down payment assistance programs. Contact us today to see if you qualify!

Frequently Asked Questions

Check our FAQs for responses to our most popular questions from Oklahoma home buyers.

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How Much Should I Budget for Closing Costs in Oklahoma?

Closing costs in Oklahoma usually range from 2% to 5% of the home’s purchase price. These costs may include fees for appraisals, inspections, title insurance, and lender charges. Your loan officer can give you a personalized estimate based on your purchase.

For example, on a $300,000 home, buyers can expect to pay between $6,000 and $15,000 in closing costs. 

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What Are the Most Popular Home Loan Types in Oklahoma?

The most common loans among Oklahoma buyers are:

  • Conventional Loans – Flexible terms with competitive interest rates. Often preferred by buyers with strong credit and larger down payments, though options with as little as 3% down are available.

  • FHA Loans – Backed by the Federal Housing Administration, these are popular with first-time buyers. They allow lower credit scores and down payments starting at 3.5%.

  • VA Loans – Available to eligible veterans, active-duty service members, and surviving spouses. VA loans require no down payment and no private mortgage insurance (PMI).

  • USDA Loans – Designed for qualifying buyers in rural and suburban areas. These loans also offer no down payment and reduced mortgage insurance costs.

  • OHFA Loans – Offered through the Oklahoma Housing Finance Agency, these programs combine affordable first mortgages with down payment and closing cost assistance. Options like the Gold Loan and Dream Loan help both first-time and repeat buyers across the state access low-interest financing with flexible eligibility.

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How Can I Find a Trusted Local Oklahoma Realtor to Work With?

Churchill Mortgage's experienced Home Loan Specialists work closely with a network of trusted, local real estate agents across the state of Oklahoma. Just ask for a referral and we'll provide you with a professional who is committed to finding the right home for you.

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How Do Schools Rank in Oklahoma?

Oklahoma’s public schools show a wide range of performance, with several districts consistently recognized for strong academics, college readiness, and student growth. While statewide rankings are lower compared to other states, many local districts continue to earn high marks for excellence and innovation.

  • Among the best in Oklahoma for academic performance, extracurricular offerings, and graduation rates.

  • Notable schools such as Norman North High School, Booker T. Washington High School (Tulsa), and Deer Creek High School are often highlighted for their academic rigor and community involvement.

  • The state evaluates schools through its A–F School Report Card System, which measures performance in academic achievement, growth, graduation, and English language proficiency.

  • For full school and district data, including test scores and accountability ratings, visit the Oklahoma School Report Cards.

 

Reviews from Oklahoma Home Buyers

★ ★ ★ ★ ★

"Dan made himself readily available anytime we had questions or needed a document completed. He was very friendly and most helpful. We were able to close on our home early because of how on top of things Dan and his team were. We are very glad we chose Churchill for our home buying process."

Breanna W.
Chickasha, OK
★ ★ ★ ★ ★

'We had an amazing experience with Churchill and Mark! Everything was super easy and smooth. We would not hesitate to recommend this company and Mark to anyone we know!"

Matthew G.
Choctaw, OK
★ ★ ★ ★ ★

"The overall communication and transparency provided throughout the process were exceptional. I called Mark knowing very minimal information about the mortgage application process but concluded the purchase of our new home feeling like I made educated decisions along the way."

Kaleb M.
Skiatook, OK

4.9 / 5

gold star gold star gold star gold star gold star

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Served over 100,000+ happy homeowners!

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Oklahoma Branch Locations

Oklahoma City, OK

214-623-5756

Visit the Branch Website

861 East 33rd Street, Suite B Edmond, OK

McLoud, OK

541-280-1269

Visit the Branch Website

McLound, OK

Churchill Loan Officers in Oklahoma

Conforming and high balance allowed. Cooperative housing not eligible. Not all applicants will qualify. Not a commitment to lend. Other restriction or limitations to any program may apply.

This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws ensuring all potential borrowers have access to the same information, services, and opportunities throughout the home loan process.