Oklahoma First-Time Homebuyer Calculator
First-time homebuyer costs in Oklahoma: $6,825 FHA down payment, $4,875 closing costs, 0.9% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Oklahoma. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (0.9%), and homeowners insurance ($3,300/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Oklahoma homebuyer facts: Median price $195,000 | 20% down = $39,000 | FHA 3.5% down = $6,825 | Closing costs ~$4,875 | Property tax 0.9% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Oklahoma?
For Oklahoma's median home ($195,000): FHA minimum down payment is $6,825 (3.5%), plus $4,875 in closing costs. Total minimum: ~$11,700. With 20% down to avoid PMI: ~$43,875.
What are closing costs in Oklahoma?
Oklahoma closing costs average 2.5% of the home price, or about $4,875 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0.075%.
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