Mortgage Calculator in Oklahoma

Calculate your monthly mortgage payment in Oklahoma using the 2026 median home price of $244K and current local rates. Adjust the inputs below. Formula shown, sources cited — no account required.

Oklahoma offers some of the most affordable housing prices in the South-Central region, with a median home price of $244,000 that keeps homeownership within reach for a wide range of buyers. The state's property tax rate of 0.90% adds roughly $2,196 annually on a median-priced home — a low carrying cost that makes the long-term economics of ownership attractive. Closing costs average 1.5% of the purchase price, translating to about $3,660 upfront, which is modest by national standards. First-time buyers can explore the OHFA Dream Homebuyers program or the Gold Loan Program for additional rate or down payment support. With a 10% standard down payment of $24,400, buyers in Oklahoma face one of the lowest cash barriers to entry of any state in this group. The average mortgage rate of 6.65% reflects slightly elevated regional lending rates, but competitive shopping among lenders can narrow that gap. The mortgage calculator lets you model exactly how rate differences, down payment size, and loan term combine to determine your monthly payment and total interest cost.

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Oklahoma's average mortgage rate of 6.65% and median home price of $244K produce a monthly P&I of approximately $1,410 before taxes and insurance.

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Oklahoma Housing Market at a Glance (2026)

$244K

Median Home Price

6.65%

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 $244K home, closing costs â‰ˆ$3,660

Median household income$66,148/yr

State income tax (top rate)4.5%

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 $244K home in Oklahoma with a 10% down payment at 6.65% over 30 years, your principal and interest payment comes to approximately $1,410/month— not including property taxes or homeowner's insurance.

Oklahoma's property tax rate of 0.9% adds roughly $183/month to your total housing cost on a $244K home. This rate is near the national average of ~1.1%.

Oklahoma vs. National Average

Metric	Oklahoma	National Avg
Median Home Price	$244,000	$420,000
Property Tax Rate	0.9%	1.07%
Avg Mortgage Rate	6.65%	6.85%
Cost of Living Index	84.7	100

Questions You Might Ask — Mortgage Calculator in Oklahoma

What is the average mortgage payment in Oklahoma?

Based on the median home price of $244K in Oklahoma with a 10% down payment and 6.65% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $1,410. Adding property taxes (~$183/mo) and homeowner's insurance, total PITI is typically $1,743–$1,843/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 $244K, that equals roughly $2,196 per year — or $183 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 $24,400 on the median $244K 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 $3,660 on the median $244K 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 $244K median home in Oklahoma under the 28% housing-cost rule, you need a gross monthly income of at least $6,225 — roughly $75K/year. The median household income in Oklahoma is $66,148.

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.