Mortgage Calculator in Oklahoma

Calculate your monthly mortgage payment in Oklahoma using the 2026 median home price of $195K and current local rates. Adjust the inputs below to match your situation.

Oklahoma Housing Market at a Glance (2026)

$195K

Median Home Price

6.91%

Avg Mortgage Rate

0.9%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in Oklahoma: Costs to Know

Average closing costs1.5% of purchase price

On a $195K home, closing costs ≈$2,925

Median household income$57,000/yr

State income tax (top rate)4.75%

First-Time Buyer Programs in Oklahoma

Oklahoma offers state-sponsored programs that can reduce your down payment or closing costs:

✓OHFA Dream Homebuyers
✓Gold Loan Program

How Mortgage Payments Work in Oklahoma

A standard mortgage payment in Oklahoma is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $195K home in Oklahoma with a 10% down payment at 6.91% over 30 years, your principal and interest payment comes to approximately $1,157/month— not including property taxes or homeowner's insurance.

Oklahoma's property tax rate of 0.9% adds roughly $146/month to your total housing cost on a $195K home. This rate is near the national average of ~1.1%.

Oklahoma vs. National Average

Metric	Oklahoma	National Avg
Median Home Price	$195,000	$420,000
Property Tax Rate	0.9%	1.07%
Avg Mortgage Rate	6.91%	6.85%
Cost of Living Index	88	100

Frequently Asked Questions — Mortgage Calculator in Oklahoma

What is the average mortgage payment in Oklahoma?+

Based on the median home price of $195K in Oklahoma with a 10% down payment and 6.91% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $1,157. Adding property taxes (~$146/mo) and homeowner's insurance, total PITI is typically $1,453–$1,553/month.

What is the property tax rate in Oklahoma?+

Oklahoma has an average effective property tax rate of 0.9%. On the median home price of $195K, that equals roughly $1,755 per year — or $146 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in Oklahoma?+

The typical down payment in Oklahoma is 10% — about $19,500 on the median $195K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like OHFA Dream Homebuyers.

What are closing costs in Oklahoma?+

Average closing costs in Oklahoma are approximately 1.5% of the purchase price — about $2,925 on the median $195K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Oklahoma?+

To afford the $195K median home in Oklahoma under the 28% housing-cost rule, you need a gross monthly income of at least $5,189 — roughly $62K/year. The median household income in Oklahoma is $57,000.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.