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Oklahoma mortgage calculator

The median home in Oklahoma runs about $200,000. With 20% down that's a loan near $160,000 — the calculator is pre-filled with that figure. Oklahoma has some of the most affordable home prices and a near-average property tax rate, but it also has the highest average homeowners insurance premium in the country because of tornado and hail losses.

$1,038.82 / month

Total interest
$213,976
Total paid
$373,976
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$40k$80k$120k$160k0612182430Year

How it works

A full Oklahoma payment is more than principal and interest. At the state's 0.90% effective property tax rate, a $200,000 home owes about $1,800 a year in tax, and homeowners insurance averages roughly $4,400 a year here. Together those add about $517 to the monthly payment before any HOA dues or PMI.

Oklahoma's median household income is about $62,000, or $5,167 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,447 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Oklahoma sell in about 40 days on average.

Frequently asked questions

What is a typical mortgage payment in Oklahoma?
On the state's roughly $200,000 median home with 20% down, the loan is about $160,000. Principal and interest depend on your rate; on top of that, Oklahoma's 0.90% effective property tax rate and about $4,400 a year in homeowners insurance add roughly $517 per month to the payment.
How much are property taxes on a home in Oklahoma?
Oklahoma's effective property tax rate averages about 0.90% of market value — roughly $1,800 a year on the $200,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Oklahoma?
The average Oklahoma homeowners policy runs about $4,400 a year. Oklahoma has some of the most affordable home prices and a near-average property tax rate, but it also has the highest average homeowners insurance premium in the country because of tornado and hail losses.
Can I afford a home in Oklahoma on the median income?
Oklahoma's median household income is about $62,000 a year, or $5,167 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,447 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Oklahoma?
A for-sale home in Oklahoma spends about 40 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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