See our Rates Call us
District Lending Logo
Buy
Home Purchase
Why District
Read about all the benefits
Process overview
Simplified and easy to understand
Apply now
Start your application
Get a quote
See your rate with no commitment
Perks
Free refinance for 3 years
Refinance with no closing costs
No closing costs
Zero costs options, what it means
Realtor credits
Get .5% towards your closing costs
18 Day closing
2X more likely to get your offer accepted
Price match guarantee
We beat competitors’ rates by .125% or more
Rate defense
Never miss out on rates dropping
Refinance
Rates
About
Reviews
Hear from our customers
Contact
Answers within 2 business hours
Meet the crew
Our experts, mission, and values
Careers
Join us in making a difference
Learn
Blog
Our knowledge at your convenience
Mortgage secrets
Short videos with tips&tricks
Video library
A short description can be here
Calculator
Calculate your mortgage payment

2024 FHA Loan Limits Oklahoma: The Ultimate Guide

FHA Loan Limits Oklahoma
FHA Loan Limits Oklahoma
Josh Rapaport
June 1, 2024

What are the 2024 FHA Limits in Oklahoma?

Good news, because today, we’ll reveal and explain the 2024 FHA Oklahoma Loan Limits increase.

The Federal Housing Administration (FHA) sets its own loan limits, distinct from conforming loan limits.

In 2024, Oklahoma saw a rise in its FHA loan limits, with the new maximums set at $498,257 for one-family properties, $637,950 for two-family properties, $771,125 for three-family properties, and $958,350 for four-family properties.

Note: Some Oklahoma counties go even higher due to elevated median home prices.

For instance, Oklahoma City (Oklahoma County), Tulsa (Tulsa County), Norman (Cleveland County), Lawton (Comanche County), and Edmond (Oklahoma County) are some of the cities where you can find higher FHA loan limits.

2024 Oklahoma FHA Loan Limits by County

Oklahoma CountyOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAIR$498,257$637,950$771,125$958,350$45,000
ALFALFA$498,257$637,950$771,125$958,350$49,000
ATOKA$498,257$637,950$771,125$958,350$90,000
BEAVER$498,257$637,950$771,125$958,350$77,000
BLAINE$498,257$637,950$771,125$958,350$60,000
CADDO$498,257$637,950$771,125$958,350$70,000
CARTER$498,257$637,950$771,125$958,350$139,000
CHEROKEE$498,257$637,950$771,125$958,350$117,000
CHOCTAW$498,257$637,950$771,125$958,350$61,000
CIMARRON$498,257$637,950$771,125$958,350$26,000
CLEVELAND$498,257$637,950$771,125$958,350$243,000
COAL$498,257$637,950$771,125$958,350$47,000
COTTON$498,257$637,950$771,125$958,350$130,000
CRAIG$498,257$637,950$771,125$958,350$111,000
CUSTER$498,257$637,950$771,125$958,350$140,000
DELAWARE$498,257$637,950$771,125$958,350$155,000
GARFIELD$498,257$637,950$771,125$958,350$125,000
GARVIN$498,257$637,950$771,125$958,350$95,000
GRANT$498,257$637,950$771,125$958,350$45,000
HASKELL$498,257$637,950$771,125$958,350$65,000
JACKSON$498,257$637,950$771,125$958,350$120,000
JOHNSTON$498,257$637,950$771,125$958,350$75,000
KINGFISHER$498,257$637,950$771,125$958,350$170,000
KIOWA$498,257$637,950$771,125$958,350$60,000
LATIMER$498,257$637,950$771,125$958,350$50,000
LE FLORE$498,257$637,950$771,125$958,350$90,000
LINCOLN$498,257$637,950$771,125$958,350$243,000
LOGAN$498,257$637,950$771,125$958,350$243,000
MARSHALL$498,257$637,950$771,125$958,350$90,000
MCCLAIN$498,257$637,950$771,125$958,350$243,000
MCINTOSH$498,257$637,950$771,125$958,350$75,000
MURRAY$498,257$637,950$771,125$958,350$75,000
MUSKOGEE$498,257$637,950$771,125$958,350$125,000
NOBLE$498,257$637,950$771,125$958,350$89,000
OKLAHOMA$498,257$637,950$771,125$958,350$243,000
OKMULGEE$498,257$637,950$771,125$958,350$234,000
OSAGE$498,257$637,950$771,125$958,350$234,000
PAYNE$498,257$637,950$771,125$958,350$200,000
PONTOTOC$498,257$637,950$771,125$958,350$138,000
PUSHMATAHA$498,257$637,950$771,125$958,350$48,000
ROGER MILLS$498,257$637,950$771,125$958,350$70,000
ROGERS$498,257$637,950$771,125$958,350$234,000
SEMINOLE$498,257$637,950$771,125$958,350$70,000
SEQUOYAH$498,257$637,950$771,125$958,350$155,000
STEPHENS$498,257$637,950$771,125$958,350$90,000
TEXAS$498,257$637,950$771,125$958,350$155,000
TILLMAN$498,257$637,950$771,125$958,350$55,000
WAGONER$498,257$637,950$771,125$958,350$234,000
WASHINGTON$498,257$637,950$771,125$958,350$144,000
WOODS$498,257$637,950$771,125$958,350$70,000

What Determines FHA Loan Limits?

FHA loan limits are determined on a county-by-county basis, primarily based on the median home prices from the previous year.

The Federal Housing Finance Agency (FHFA) uses housing price data to establish conforming loan limits for conventional loans.

The U.S. Department of Housing and Urban Development (HUD) employs these limits to set both a “floor” and a “ceiling” for FHA loans.

The “floor” represents the maximum loan amount available for FHA loans in most regions, calculated as 65% of the conforming loan limit.

In contrast, the “ceiling” pertains to high-cost areas and can be as much as 150% of the conforming loan limit.

In 2024, Oklahoma has new FHA loan ceilings of $498,257 for one-family properties, $637,950 for two-family properties, $771,125 for three-family properties, and $958,350 for four-family properties.

Some high cost of living counties with higher home prices may exceed these limits.

How Can I Qualify for an FHA Loan in Oklahoma?

An FHA-backed loan provides homebuyers in Oklahoma with an opportunity to purchase a home with a lower credit score and a smaller down payment compared to conventional loan requirements.

Here’s a general guide on how to qualify for an FHA loan in Oklahoma in 2024:

1. Credit Score Requirements

  • Minimum Credit Score: Typically, a minimum credit score of 580 is required for an FHA loan, allowing a down payment as low as 3.5%.
  • Lower Credit Scores: Applicants with credit scores between 500 and 579 may still be eligible but might need a down payment of at least 10%.

2. Down Payment

  • Standard Down Payment: With a credit score of 580 or higher, a 3.5% down payment is standard.
  • Gift Funds: FHA loans permit down payments using gift funds, subject to specific conditions and documentation.

3. Debt-to-Income Ratio (DTI)

  • DTI Limits: Generally, your DTI should not exceed 43% to 45%, comparing your gross monthly income to your monthly debt obligations.
  • Higher DTI Ratios: In some cases, lenders may accept higher DTI ratios if there are compensating factors, such as a higher credit score or larger down payment.

4. Mortgage Insurance

  • Upfront and Annual Premiums: FHA loans require both upfront and annual mortgage insurance premiums (MIP). The upfront MIP can be rolled into the mortgage, while the annual MIP is paid monthly as part of your mortgage payment.

5. Property Requirements

  • Primary Residence: The property must serve as your primary residence, not an investment property.
  • FHA Appraisal: An FHA-approved appraiser must assess the property to ensure it meets specific safety, security, and structural integrity standards.

6. Employment History

  • Stable Employment: Lenders generally prefer a stable employment history, usually two years with the same employer or in the same line of work.

7. Income Verification

  • Proof of Income: Provide proof of income through pay stubs, tax returns, and W-2s.
  • Consistent Income: The income should be consistent and expected to continue.

8. Loan Limits

  • Adherence to Loan Limits: Ensure that the loan amount you seek falls within the FHA loan limits for your area in Oklahoma.

9. Additional Documentation

  • Identification: A valid government-issued ID.
  • Social Security Number: Required for all borrowers on the loan application.
  • Additional Documents: Depending on the lender, other documentation may be necessary.

10. Lender Specific Requirements

  • Lender Overlay: Some lenders may have additional ‘overlays’ or requirements beyond what the FHA mandates.

Looking for an FHA Loan in Oklahoma? WE CAN HELP!

You’ve got questions…

We’ve got expert answers!

If you want to buy or refinance your home for less, to include Oklahoma FHA loans at a great low rate, you can get in touch with us HERE.

>> Click HERE to get a great low Oklahoma FHA loan rate in 60 seconds or less!

About the Author

Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world’s leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they’ve earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.

“As a military veteran, I’ve made it my life’s mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you’ll see our rates right on our website. You’ll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be.”

– Brian Reese, Advisor and Co-Owner, District Lending

Buy a home and refinance at no cost.
get a quote
Buy
Home Purchase
Why District
Read about all the benefits
Process overview
Simplified and easy to understand
Apply now
Start your application
Get a quote
See your rate with no commitment
Perks
Free refinance for 3 years
Refinance with no closing costs
No closing costs
Zero costs options, what it means
Realtor credits
Get .5% towards your closing costs
18 Day closing
2X more likely to get your offer accepted
Price match guarantee
We beat competitors’ rates by .125% or more
Rate defense
Never miss out on rates dropping
Refinance
Rates
About
Reviews
Hear from our customers
Contact
Answers within 2 business hours
Meet the crew
Our experts, mission, and values
Careers
Join us in making a difference
Learn
Blog
Our knowledge at your convenience
Mortgage secrets
Short videos with tips&tricks
Video library
A short description can be here
Calculator
Calculate your mortgage payment
Apply nowGet a quote