FHA Loan Limits in Oklahoma
Loans backed by the Federal Housing Administration (FHA) make it easier to buy a home for borrowers with less-than-ideal credit scores or who need to make a lower down payment.
Depending on where you live, you’ll find limits on what you can borrow with an FHA loan. In Oklahoma, the FHA loan limit for a single-family home is $472,030 statewide.
Oklahoma FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sale price |
|---|---|---|---|---|---|
| ADAIR | $472,030 | $604,400 | $730,525 | $907,900 | $54,000 |
| ALFALFA | $472,030 | $604,400 | $730,525 | $907,900 | $53,000 |
| ATOKA | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| BEAVER | $472,030 | $604,400 | $730,525 | $907,900 | $50,000 |
| BECKHAM | $472,030 | $604,400 | $730,525 | $907,900 | $132,000 |
| BLAINE | $472,030 | $604,400 | $730,525 | $907,900 | $70,000 |
| BRYAN | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| CADDO | $472,030 | $604,400 | $730,525 | $907,900 | $52,000 |
| CANADIAN | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| CARTER | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| CHEROKEE | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| CHOCTAW | $472,030 | $604,400 | $730,525 | $907,900 | $76,000 |
| CIMARRON | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| CLEVELAND | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| COAL | $472,030 | $604,400 | $730,525 | $907,900 | $51,000 |
| COMANCHE | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| COTTON | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| CRAIG | $472,030 | $604,400 | $730,525 | $907,900 | $94,000 |
| CREEK | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| CUSTER | $472,030 | $604,400 | $730,525 | $907,900 | $133,000 |
| DELAWARE | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| DEWEY | $472,030 | $604,400 | $730,525 | $907,900 | $70,000 |
| ELLIS | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| GARFIELD | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| GARVIN | $472,030 | $604,400 | $730,525 | $907,900 | $78,000 |
| GRADY | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| GRANT | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| GREER | $472,030 | $604,400 | $730,525 | $907,900 | $72,000 |
| HARMON | $472,030 | $604,400 | $730,525 | $907,900 | $29,000 |
| HARPER | $472,030 | $604,400 | $730,525 | $907,900 | $45,000 |
| HASKELL | $472,030 | $604,400 | $730,525 | $907,900 | $99,000 |
| HUGHES | $472,030 | $604,400 | $730,525 | $907,900 | $41,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $39,000 |
| JOHNSTON | $472,030 | $604,400 | $730,525 | $907,900 | $70,000 |
| KAY | $472,030 | $604,400 | $730,525 | $907,900 | $98,000 |
| KINGFISHER | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| KIOWA | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| LATIMER | $472,030 | $604,400 | $730,525 | $907,900 | $53,000 |
| LE FLORE | $472,030 | $604,400 | $730,525 | $907,900 | $90,000 |
| LINCOLN | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| LOGAN | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| LOVE | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| MAJOR | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| MARSHALL | $472,030 | $604,400 | $730,525 | $907,900 | $106,000 |
| MAYES | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| MCCLAIN | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| MCCURTAIN | $472,030 | $604,400 | $730,525 | $907,900 | $167,000 |
| MCINTOSH | $472,030 | $604,400 | $730,525 | $907,900 | $78,000 |
| MURRAY | $472,030 | $604,400 | $730,525 | $907,900 | $89,000 |
| MUSKOGEE | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| NOBLE | $472,030 | $604,400 | $730,525 | $907,900 | $71,000 |
| NOWATA | $472,030 | $604,400 | $730,525 | $907,900 | $74,000 |
| OKFUSKEE | $472,030 | $604,400 | $730,525 | $907,900 | $50,000 |
| OKLAHOMA | $472,030 | $604,400 | $730,525 | $907,900 | $232,000 |
| OKMULGEE | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| OSAGE | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| OTTAWA | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| PAWNEE | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| PAYNE | $472,030 | $604,400 | $730,525 | $907,900 | $190,000 |
| PITTSBURG | $472,030 | $604,400 | $730,525 | $907,900 | $90,000 |
| PONTOTOC | $472,030 | $604,400 | $730,525 | $907,900 | $126,000 |
| POTTAWATOMIE | $472,030 | $604,400 | $730,525 | $907,900 | $122,000 |
| PUSHMATAHA | $472,030 | $604,400 | $730,525 | $907,900 | $59,000 |
| ROGER MILLS | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| ROGERS | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| SEMINOLE | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| SEQUOYAH | $472,030 | $604,400 | $730,525 | $907,900 | $152,000 |
| STEPHENS | $472,030 | $604,400 | $730,525 | $907,900 | $81,000 |
| TEXAS | $472,030 | $604,400 | $730,525 | $907,900 | $136,000 |
| TILLMAN | $472,030 | $604,400 | $730,525 | $907,900 | $44,000 |
| TULSA | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| WAGONER | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| WASHITA | $472,030 | $604,400 | $730,525 | $907,900 | $61,000 |
| WOODS | $472,030 | $604,400 | $730,525 | $907,900 | $62,000 |
| WOODWARD | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
How are FHA loan limits determined?
The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits annually for every county in the U.S. The limits are based on that year’s conforming loan limit for a conventional mortgage and they represent the maximum amount you can borrow using an FHA loan.
The lowest loan limit nationally is the FHA “floor” and it’s calculated as 65% of the conforming loan limit. This year, the floor is $472,030, which is also the current limit throughout Oklahoma. If you want to use an FHA loan to buy a home in the state, your home will need to cost less than that amount.
The FHA also sets a national “ceiling,” which is 150% of the conforming loan limit. Loan limits often change annually. In 2022, the median national home sale price rose and conforming loan limits went up by 12%, so FHA loan limits have gone up too.
How to qualify for an FHA loan in Oklahoma
Oklahomans who aren’t able to meet the high bar set by conventional loan requirements will find that FHA loan requirements are far more lenient. Here’s what you’ll need to qualify for an FHA loan:
A minimum 500 credit score. If you have a credit score between 500 and 579 and can put down at least 10%, you may qualify for an FHA loan.
3.5% minimum down payment. You may be eligible for a down payment as low as 3.5% if you have a credit score of 580 or higher. Otherwise, you’ll need to come up with the full 10% down payment.
Debt-to-income (DTI) ratio of 43% or less. A DTI ratio is a measure of how much money you spend on debt payments and how much total monthly income you have. Your DTI ratio helps lenders gauge your ability to afford a loan, and will likely need to be 43% (or less) of your gross income to qualify.
An FHA home appraisal. Any property you purchase with an FHA loan must have an FHA appraisal before it can be approved.
Mortgage insurance. Two types of FHA mortgage insurance come with FHA loans. The first is a lump sum, known as an upfront mortgage insurance premium (UFMIP), which is 1.75% of the loan amount. The second is an annual mortgage insurance premium (MIP), which can be anywhere from 0.15% to 0.75%. The MIP will be added to your monthly mortgage payments.
Primary residence. You must live in any property financed with an FHA loan as your main residence for at least one year, even multifamily properties.
Buying a multifamily property with an FHA loan
You can use an FHA loan to buy multifamily properties of two to four units as long as you live in one of the units for at least 12 months. If you’re planning on doing this, you may also be able to use the anticipated rental income to help you qualify for the loan.
The current loan limits for a multifamily FHA loan in Oklahoma are:
- $604,400 for two units
- $730,525 for three units
- $907,900 for four units
FHA lenders in Oklahoma
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Caliber Home Loans | 3 stars | 620 |
| Truist Mortgage | 4 stars | 580 |
| Fairway Independent Mortgage | 3 stars | 500 |
| Rocket Mortgage | 5 stars | 580 |