Typical Oklahoma mortgage payment
The median home price in Oklahoma is roughly $210,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $1,661 | $1,127 |
| 5.50% | $1,716 | $1,192 |
| 6.00% | $1,772 | $1,259 |
| 6.50% | $1,829 | $1,327 |
| 7.00% | $1,888 | $1,397 |
| 7.50% | $1,947 | $1,468 |
| 8.00% | $2,007 | $1,541 |
| 8.50% | $2,068 | $1,615 |
| 9.00% | $2,130 | $1,690 |
| 9.50% | $2,193 | $1,766 |
| 10.00% | $2,257 | $1,843 |
What a Oklahoma mortgage really costs (PITI)
Principal & interest alone would run about $1,327/month at 6.50% over 30 years. But Oklahoma's property tax - roughly 0.90% of home value per year here - adds about $158/month, and estimated homeowners insurance adds around $61/month. Your real total monthly payment (PITI) on a $210,000 Oklahoma home is closer to $1,546/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $66,261/year. A 20% down payment here is $42,000.
Oklahoma vs. its neighbors
Of Oklahoma and its neighbors, Arkansas has the lowest estimated total monthly payment - about $46 less per month than Oklahoma.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| Arkansas | $210,000 | 0.64% | $1,501/mo |
| Oklahoma (this page) | $210,000 | 0.90% | $1,546/mo |
| Kansas | $230,000 | 1.41% | $1,791/mo |
| Missouri | $250,000 | 0.98% | $1,857/mo |
| New Mexico | $300,000 | 0.80% | $2,184/mo |
| Texas | $350,000 | 1.80% | $2,839/mo |
| Colorado | $545,000 | 0.51% | $3,835/mo |
What affects your Oklahoma payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.