Oklahoma Mortgage Calculator

Calculate your monthly mortgage payment in Oklahoma. Pre-filled with Oklahoma's average property tax rate of 0.87%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$254
Homeowner's Insurance
$100
Total Monthly Payment
$2,124

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,124/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Oklahoma Housing Overview

Oklahoma has an average property tax rate of 0.87%. Oklahoma's cost of living is about 14% below the national average.

Property Tax: 0.87%Progressive rates up to 4.75%Low cost of livingStrong energy sector

Buying a Home in Oklahoma

If you're considering buying a home in Oklahoma, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Oklahoma's average property tax rate of 0.87% to give you a more accurate estimate.

Oklahoma Property Taxes

Oklahoma has an average effective property tax rate of 0.87%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.87% rate means approximately $3045 per year, or $254 per month in property taxes alone.

Cost of Living in Oklahoma

Oklahoma's cost of living is about 14% below the national average. When evaluating whether to buy a home in Oklahoma, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Oklahoma Homebuyers

  • Oklahoma's 4.75% top rate is moderate and the low cost of living maximizes your purchasing power
  • Oklahoma's energy sector provides strong employment opportunities
  • Oklahoma does not tax Social Security benefits
  • Tulsa's growing tech scene offers remote work opportunities

Key Oklahoma Features

  • Progressive rates up to 4.75%
  • Low cost of living
  • Strong energy sector
  • No tax on Social Security

See How Your Oklahoma Mortgage Fits Your Financial Plan

This calculator shows your Oklahoma mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Oklahoma Mortgage Costs with Other States

Texas1.80% property taxArkansas0.61% property taxMissouri0.97% property taxCalifornia0.71% property taxNew York1.46% property taxMassachusetts1.12% property tax

Frequently Asked Questions

What is the average property tax rate in Oklahoma?
The average effective property tax rate in Oklahoma is approximately 0.87%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Oklahoma's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Oklahoma?
Your mortgage payment in Oklahoma depends on the home price, your down payment, interest rate, and loan term. With Oklahoma's average property tax rate of 0.87%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Oklahoma an affordable state to buy a home?
Oklahoma's cost of living is about 14% below the national average. When evaluating affordability in Oklahoma, consider not just the home price but also property taxes (0.87% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Oklahoma property taxes compare to other states?
Oklahoma's average property tax rate of 0.87% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Oklahoma?
Most states, including Oklahoma, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Oklahoma's housing authority and the FHA, VA, and USDA loan programs for additional options.

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