The housing industry in Oklahoma City seems to be following national trends. Mortgage interest rates are rising slightly, but they may plateau by the end of the year. We urge you to continue pursuing your dream of owning a home in Oklahoma, despite unfavorable interest rates. Continue reading, and you can find out more about how you can own a home in Oklahoma City.
Quick Oklahoma City Housing Facts
Percent of Homeowners in Oklahoma City: 68.4%
Percent of Renters in Oklahoma City: 31.6%
Median Oklahoma City Household Income: $33,400
Average Oklahoma City Credit Score: 665
Median Oklahoma City Home Value: $70,700
How Much Real Estate Can I Afford In Oklahoma City?
If you’re unsure about your standing in the Oklahoma City marketplace, you’ve come to the right place. We have a wide selection of online mortgage calculators that can help you get a firm idea of where you stand. But first, we recommend considering the following topics:
- What kind of monthly payments am I willing and able to make? Be sure to be realistic when answering this question; it will save you trouble later.
- What kind of payment plan will work for me? The Adjustable Rate Mortgage and Fixed Rate Mortgage are popular options.
- What are the property tax rates in Oklahoma City?
- What are interest rates like in Oklahoma City?
Refinancing in Oklahoma City
The ability to refinance is just one of the many fascinating financial tools that open up to you when you enter the world of homeownership. Besides refinance’s most obvious benefit—the ability to take advantage of lower interest rates—you may also be able to get a Cash Out Refinance that would leave you with extra cash to pay off other bills.
Not sure if you should refinance? See if any of the following descriptions sound like you:
- I want a lower interest rate. My credit score has improved significantly since I bought my home, and I think I might qualify for a lower interest rate now.
- The market interest rate has plummeted since I bought my home. Now it’s 2% lower than I pay, and I want to take advantage of that.
- I have a Balloon mortgage. My balloon payment is quickly approaching, and I don’t have the money I thought I would to pay it off. I want to continue with payments like the ones I have been paying so far instead.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.