Oklahoma Mortgage Calculator

Mortgage and refinance loan payment calculator. Popular areas include Oklahoma City, Tulsa, Norman and Broken Arrow Oklahoma.

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Our Oklahoma mortgage calculator enables you to estimate your monthly mortgage payment, including the following:

  • Principal and interest
  • Taxes
  • Insurance
  • Private Mortgage Insurance (PMI)

Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.

Housing affordability continues to fluctuate across Oklahoma. The housing trends vary in the Sooner State, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Oklahoma City, Tulsa, Norman, the market varies among neighborhoods. Each area will have a slightly different trend such as Oklahoma County, Tulsa County and Cleveland County.

Amortization Calculator
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We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.

County

Property tax rate

Conforming limit

Adair County

0.51%

$548,250

Alfalfa County

0.52%

$548,250

Atoka County

0.57%

$548,250

Beaver County

0.53%

$548,250

Beckham County

0.68%

$548,250

Blaine County

0.59%

$548,250

Bryan County

0.68%

$548,250

Caddo County

0.54%

$548,250

Canadian County

1.04%

$548,250

Carter County

0.81%

$548,250

Cherokee County

0.63%

$548,250

Choctaw County

0.42%

$548,250

Cimarron County

0.47%

$548,250

Cleveland County

1.16%

$548,250

Coal County

0.59%

$548,250

Comanche County

0.95%

$548,250

Cotton County

0.86%

$548,250

Craig County

0.63%

$548,250

Creek County

0.79%

$548,250

Custer County

0.68%

$548,250

Delaware County

0.66%

$548,250

Dewey County

0.55%

$548,250

Ellis County

0.59%

$548,250

Garfield County

0.84%

$548,250

Garvin County

0.56%

$548,250

Grady County

0.72%

$548,250

Grant County

0.48%

$548,250

Greer County

0.51%

$548,250

Harmon County

0.54%

$548,250

Harper County

0.49%

$548,250

Haskell County

0.55%

$548,250

Hughes County

0.66%

$548,250

Jackson County

0.68%

$548,250

Jefferson County

0.60%

$548,250

Johnston County

0.56%

$548,250

Kay County

0.77%

$548,250

Kingfisher County

0.67%

$548,250

Kiowa County

0.62%

$548,250

Latimer County

0.45%

$548,250

Le Flore County

0.66%

$548,250

Lincoln County

0.59%

$548,250

Logan County

0.82%

$548,250

Love County

0.72%

$548,250

Major County

0.70%

$548,250

Marshall County

0.57%

$548,250

Mayes County

0.75%

$548,250

McClain County

0.85%

$548,250

McCurtain County

0.47%

$548,250

McIntosh County

0.57%

$548,250

Murray County

0.41%

$548,250

Muskogee County

0.73%

$548,250

Noble County

0.93%

$548,250

Nowata County

0.74%

$548,250

Okfuskee County

0.60%

$548,250

Oklahoma County

1.06%

$548,250

Okmulgee County

0.73%

$548,250

Osage County

0.82%

$548,250

Ottawa County

0.63%

$548,250

Pawnee County

0.78%

$548,250

Payne County

0.93%

$548,250

Pittsburg County

0.52%

$548,250

Pontotoc County

0.59%

$548,250

Pottawatomie County

0.68%

$548,250

Pushmataha County

0.47%

$548,250

Roger Mills County

0.55%

$548,250

Rogers County

0.86%

$548,250

Seminole County

0.59%

$548,250

Sequoyah County

0.59%

$548,250

Stephens County

0.67%

$548,250

Texas County

0.58%

$548,250

Tillman County

0.72%

$548,250

Tulsa County

1.13%

$548,250

Wagoner County

0.89%

$548,250

Washington County

0.94%

$548,250

Washita County

0.59%

$548,250

Woods County

0.56%

$548,250

Woodward County

0.60%

$548,250

County

Tax Rate

Limit

Adair County

0.51%

$548,250

Alfalfa County

0.52%

$548,250

Atoka County

0.57%

$548,250

Beaver County

0.53%

$548,250

Beckham County

0.68%

$548,250

Blaine County

0.59%

$548,250

Bryan County

0.68%

$548,250

Caddo County

0.54%

$548,250

Canadian County

1.04%

$548,250

Carter County

0.81%

$548,250

Cherokee County

0.63%

$548,250

Choctaw County

0.42%

$548,250

Cimarron County

0.47%

$548,250

Cleveland County

1.16%

$548,250

Coal County

0.59%

$548,250

Comanche County

0.95%

$548,250

Cotton County

0.86%

$548,250

Craig County

0.63%

$548,250

Creek County

0.79%

$548,250

Custer County

0.68%

$548,250

Delaware County

0.66%

$548,250

Dewey County

0.55%

$548,250

Ellis County

0.59%

$548,250

Garfield County

0.84%

$548,250

Garvin County

0.56%

$548,250

Grady County

0.72%

$548,250

Grant County

0.48%

$548,250

Greer County

0.51%

$548,250

Harmon County

0.54%

$548,250

Harper County

0.49%

$548,250

Haskell County

0.55%

$548,250

Hughes County

0.66%

$548,250

Jackson County

0.68%

$548,250

Jefferson County

0.60%

$548,250

Johnston County

0.56%

$548,250

Kay County

0.77%

$548,250

Kingfisher County

0.67%

$548,250

Kiowa County

0.62%

$548,250

Latimer County

0.45%

$548,250

Le Flore County

0.66%

$548,250

Lincoln County

0.59%

$548,250

Logan County

0.82%

$548,250

Love County

0.72%

$548,250

Major County

0.70%

$548,250

Marshall County

0.57%

$548,250

Mayes County

0.75%

$548,250

McClain County

0.85%

$548,250

McCurtain County

0.47%

$548,250

McIntosh County

0.57%

$548,250

Murray County

0.41%

$548,250

Muskogee County

0.73%

$548,250

Noble County

0.93%

$548,250

Nowata County

0.74%

$548,250

Okfuskee County

0.60%

$548,250

Oklahoma County

1.06%

$548,250

Okmulgee County

0.73%

$548,250

Osage County

0.82%

$548,250

Ottawa County

0.63%

$548,250

Pawnee County

0.78%

$548,250

Payne County

0.93%

$548,250

Pittsburg County

0.52%

$548,250

Pontotoc County

0.59%

$548,250

Pottawatomie County

0.68%

$548,250

Pushmataha County

0.47%

$548,250

Roger Mills County

0.55%

$548,250

Rogers County

0.86%

$548,250

Seminole County

0.59%

$548,250

Sequoyah County

0.59%

$548,250

Stephens County

0.67%

$548,250

Texas County

0.58%

$548,250

Tillman County

0.72%

$548,250

Tulsa County

1.13%

$548,250

Wagoner County

0.89%

$548,250

Washington County

0.94%

$548,250

Washita County

0.59%

$548,250

Woods County

0.56%

$548,250

Woodward County

0.60%

$548,250

Start the mortgage process today in Oklahoma

Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Oklahoma contact you for a custom quote.

In Oklahoma how do banks and lenders calculate what mortgage payment I can afford?

In Oklahoma the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.”  The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example).  Most lenders want to see that number no more than 36% (36% of your income goes to paying debts).  Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.

In Oklahoma what are other costs that can increase my mortgage payment?

In Oklahoma the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

In Oklahoma how do I calculate my mortgage payment?

When considering a new home purchase or whether to refinance your current mortgage, the best place to start is by estimating your monthly payment. You can utilize our free Oklahoma calculator to get a quick estimate. However, you will need a few numbers available:

Mortgage principal (how much you want to borrow—not necessarily the cost of the property).

Monthly interest rate (the fee you pay the bank to borrow money: check out current mortgage rates). This is usually reflected as an APR (annual percentage rate) and is translated to a monthly rate by dividing the rate by 12 (months).

Number of payments (how long do you want to pay on the mortgage). This is easy with a fixed mortgage, but not with an ARM, where the rate will change on a regular basis.

Property taxes (usually the cost of taxes is added to the mortgage payment & added to an escrow account, where the taxes are paid on your behalf at the end of the year).

Homeowner’s Insurance (since type and coverage vary widely, it is best to contact an agent to get some estimates).

PMI, if required (most lenders require this additional insurance when you put down less than 20% of the purchase price of the property).

Lock your mortgage rate today in Oklahoma

With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Oklahoma mortgage loan today!

Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Oklahoma mortgage payments are calculated, the formula looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Key:

  • M = monthly mortgage payment
  • P = principal amount
  • I = monthly interest rate (usually listed as an annual percentage rate)
  • N = number of payments over the life of the loan (360 payments for 30 years, etc)

In Oklahoma if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest.  One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.

In Oklahoma the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.

If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:

  • Refinance at a lower rate
  • Refinance to a longer term
  • Eliminate mortgage insurance
  • Apply for mortgage forbearance or loan modification (in case of financial hardship)

In Oklahoma an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.

Get started with a purchase or refinance mortgage loan today!

Get started with a purchase or refinance mortgage loan today!

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