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Oklahoma is a land of sweeping plains, cattle ranches and Native American history. The state is home to wheat and other types of farms, as well as a vibrant natural resources sector featuring mining, petroleum and gas extraction. While its location in America’s “Tornado Alley” means residents see the occasional surprise tornado, what they fortunately don’t see are spiking home prices.
Oklahoma is an affordable place to live. Median 2018 single-family home prices in major cities such as Oklahoma City and Tulsa came in at $161,000 and $164,700, respectively, according to data from the National Association of Realtors. Only two counties in the state — Canadian County and McClain County — have median home prices above $174,000. This still falls far below the national median of $261,600.
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Nevertheless, you may find you need extra financing help when you want to buy a house. One option is to apply for a mortgage insured by the Federal Housing Authority (FHA). FHA loans have low down payment requirements and may be easier to qualify for than conventional mortgages.
The FHA sets restrictions on the size of the mortgages it will back. Those limits change every year to keep up with changing home prices. The standard 2019 limit for areas considered “low cost” is $314,827 across the country. Because Oklahoma’s home prices are so reasonable, the FHA loan limit to purchase a single-family home is $314,827 for every county in Oklahoma.
Oklahoma FHA Loan Limits by County
County Name | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
---|---|---|---|---|---|
ADAIR | $314,827 | $403,125 | $487,250 | $605,525 | $52,000 |
ALFALFA | $314,827 | $403,125 | $487,250 | $605,525 | $72,000 |
ATOKA | $314,827 | $403,125 | $487,250 | $605,525 | $51,000 |
BEAVER | $314,827 | $403,125 | $487,250 | $605,525 | $79,000 |
BECKHAM | $314,827 | $403,125 | $487,250 | $605,525 | $96,000 |
BLAINE | $314,827 | $403,125 | $487,250 | $605,525 | $48,000 |
BRYAN | $314,827 | $403,125 | $487,250 | $605,525 | $93,000 |
CADDO | $314,827 | $403,125 | $487,250 | $605,525 | $84,000 |
CANADIAN | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
CARTER | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
CHEROKEE | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
CHOCTAW | $314,827 | $403,125 | $487,250 | $605,525 | $47,000 |
CIMARRON | $314,827 | $403,125 | $487,250 | $605,525 | $28,000 |
CLEVELAND | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
COAL | $314,827 | $403,125 | $487,250 | $605,525 | $40,000 |
COMANCHE | $314,827 | $403,125 | $487,250 | $605,525 | $111,000 |
COTTON | $314,827 | $403,125 | $487,250 | $605,525 | $111,000 |
CRAIG | $314,827 | $403,125 | $487,250 | $605,525 | $97,000 |
CREEK | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
CUSTER | $314,827 | $403,125 | $487,250 | $605,525 | $111,000 |
DELAWARE | $314,827 | $403,125 | $487,250 | $605,525 | $95,000 |
DEWEY | $314,827 | $403,125 | $487,250 | $605,525 | $91,000 |
ELLIS | $314,827 | $403,125 | $487,250 | $605,525 | $68,000 |
GARFIELD | $314,827 | $403,125 | $487,250 | $605,525 | $104,000 |
GARVIN | $314,827 | $403,125 | $487,250 | $605,525 | $55,000 |
GRADY | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
GRANT | $314,827 | $403,125 | $487,250 | $605,525 | $50,000 |
GREER | $314,827 | $403,125 | $487,250 | $605,525 | $78,000 |
HARMON | $314,827 | $403,125 | $487,250 | $605,525 | $45,000 |
HARPER | $314,827 | $403,125 | $487,250 | $605,525 | $78,000 |
HASKELL | $314,827 | $403,125 | $487,250 | $605,525 | $89,000 |
HUGHES | $314,827 | $403,125 | $487,250 | $605,525 | $73,000 |
JACKSON | $314,827 | $403,125 | $487,250 | $605,525 | $103,000 |
JEFFERSON | $314,827 | $403,125 | $487,250 | $605,525 | $30,000 |
JOHNSTON | $314,827 | $403,125 | $487,250 | $605,525 | $46,000 |
KAY | $314,827 | $403,125 | $487,250 | $605,525 | $70,000 |
KINGFISHER | $314,827 | $403,125 | $487,250 | $605,525 | $137,000 |
KIOWA | $314,827 | $403,125 | $487,250 | $605,525 | $35,000 |
LATIMER | $314,827 | $403,125 | $487,250 | $605,525 | $34,000 |
LE FLORE | $314,827 | $403,125 | $487,250 | $605,525 | $120,000 |
LINCOLN | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
LOGAN | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
LOVE | $314,827 | $403,125 | $487,250 | $605,525 | $58,000 |
MAJOR | $314,827 | $403,125 | $487,250 | $605,525 | $69,000 |
MARSHALL | $314,827 | $403,125 | $487,250 | $605,525 | $67,000 |
MAYES | $314,827 | $403,125 | $487,250 | $605,525 | $83,000 |
MCCLAIN | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
MCCURTAIN | $314,827 | $403,125 | $487,250 | $605,525 | $71,000 |
MCINTOSH | $314,827 | $403,125 | $487,250 | $605,525 | $46,000 |
MURRAY | $314,827 | $403,125 | $487,250 | $605,525 | $56,000 |
MUSKOGEE | $314,827 | $403,125 | $487,250 | $605,525 | $84,000 |
NOBLE | $314,827 | $403,125 | $487,250 | $605,525 | $117,000 |
NOWATA | $314,827 | $403,125 | $487,250 | $605,525 | $62,000 |
OKFUSKEE | $314,827 | $403,125 | $487,250 | $605,525 | $41,000 |
OKLAHOMA | $314,827 | $403,125 | $487,250 | $605,525 | $161,000 |
OKMULGEE | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
OSAGE | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
OTTAWA | $314,827 | $403,125 | $487,250 | $605,525 | $63,000 |
PAWNEE | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
PAYNE | $314,827 | $403,125 | $487,250 | $605,525 | $140,000 |
PITTSBURG | $314,827 | $403,125 | $487,250 | $605,525 | $70,000 |
PONTOTOC | $314,827 | $403,125 | $487,250 | $605,525 | $96,000 |
POTTAWATOMIE | $314,827 | $403,125 | $487,250 | $605,525 | $90,000 |
PUSHMATAHA | $314,827 | $403,125 | $487,250 | $605,525 | $76,000 |
ROGER MILLS | $314,827 | $403,125 | $487,250 | $605,525 | $63,000 |
ROGERS | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
SEMINOLE | $314,827 | $403,125 | $487,250 | $605,525 | $55,000 |
SEQUOYAH | $314,827 | $403,125 | $487,250 | $605,525 | $120,000 |
STEPHENS | $314,827 | $403,125 | $487,250 | $605,525 | $75,000 |
TEXAS | $314,827 | $403,125 | $487,250 | $605,525 | $95,000 |
TILLMAN | $314,827 | $403,125 | $487,250 | $605,525 | $32,000 |
TULSA | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
WAGONER | $314,827 | $403,125 | $487,250 | $605,525 | $157,000 |
WASHINGTON | $314,827 | $403,125 | $487,250 | $605,525 | $110,000 |
WASHITA | $314,827 | $403,125 | $487,250 | $605,525 | $46,000 |
WOODS | $314,827 | $403,125 | $487,250 | $605,525 | $98,000 |
WOODWARD | $314,827 | $403,125 | $487,250 | $605,525 | $99,000 |
How are FHA loan limits calculated?
The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits each year. HUD takes what is known as the “baseline conforming loan limit,” the maximum loan size,. Freddie Mac or Fannie Mae will purchase, and uses that as the figure from which FHA loan amounts are calculated. In 2019, the conforming loan limit is $484,350.
The lower end of FHA limits, called the “floor,” is 65% of this figure, or $314,827. That’s the limit for low-cost areas. The higher end or “ceiling” for more expensive markets is 150% of the conforming loan limit, or $726,525.
Here are the 2019 standard FHA limits for all property types:
- One-unit: $314,827
- Two-unit: $403,125
- Three-unit: $487,250
- Four-unit: $605,525
Here are the 2019 standard FHA limits for high-cost areas:
- One-unit: $726,525
- Two-unit: $930,300
- Three-unit: $1,124,475
- Four-unit: $1,397,400
Are you eligible for an FHA loan in Oklahoma?
More than 30% of mortgage loans originated in Oklahoma are FHA loans, according to a 2016 FHA annual report (the most recent report covering this data). To qualify for an FHA loan, you’ll need to meet minimum credit scoreand other requirements, some of which may be added as “overlays” by lenders offering the loans. For more information, visit MagnifyMoney’s complete guide to FHA loans.
By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.