Oklahoma Mortgage Calculator with Taxes & Insurance

How to use this calculator

1. Enter the home price and your down payment, in dollars or percent.
2. Pick conventional or FHA and a 30- or 15-year term. The rate starts at Freddie Mac's weekly national average; type your quote or tap an OHFA rate.
3. Pick the county. In Oklahoma County, also pick the city and school district, since that combination sets the millage.
4. Open “Homestead, insurance, PMI & HOA” to put in your insurance quote and HOA dues.
5. Tap any blue source tag in the results to see the document and date behind that number.

How Oklahoma property tax goes into your payment

County assessors value your home (its fair cash value), multiply by the county's assessment percentage, subtract exemptions, and apply the total levy for your location in mills, or dollars per $1,000 of taxable value. The Oklahoma Tax Commission reports an assessment percentage of 11.00% for real property in Oklahoma County; across the 77 counties the 2024 figures run from 11.00% to 13.00%.

The levy depends on where the house sits. In Oklahoma County the 2025 totals, certified Nov 17, 2025, range from 87.80 to 140.78 mills across 119 district codes. Each total adds the city levy (if any), the school district, a technology center or college levy, and the county's 23.14 mills. For the other 76 counties we use the Tax Commission's 2024 county average, which can be well above or below a particular district.

Example: a $300,000 home in district code 200 (Oklahoma City and Oklahoma City Public Schools #89) with the homestead exemption: $300,000 × 11% = $33,000 assessed, minus $1,000 = $32,000, times 122.90 mills ÷ 1,000 = $3,932.80 a year, or $327.73 a month in escrow.

Two things change the number after you buy. The homestead exemption only applies once you file Form 921 with the county assessor (by March 15). And Oklahoma's Constitution (Art. 10, § 8B) limits yearly increases in a homestead's fair cash value to 3%, but not in a year the title changes hands, so the assessor can revalue the home the year you buy it. The property tax calculator shows each step.

Why the insurance line is so large

LendingTree's State of Home Insurance 2026 study puts Oklahoma's average premium at $5,298 a year, the highest of any state and 121.2% above the U.S. average of $2,395. The figure is for a policy with $350,000 of dwelling coverage, $100,000 of liability and a $1,000 deductible, using Quadrant Information Services rates pulled in February 2026.

That's $441.50 a month, which is why the calculator includes it by default instead of leaving it out. It's a statewide average: premiums vary by location, roof, deductible and insurer, and we have no reliable county-level figures. Replace it with a real quote.

PMI and FHA mortgage insurance

Conventional loans carry private mortgage insurance (PMI) when you borrow more than 80% of the price. No official PMI rate table is public; Freddie Mac says to expect roughly $30 to $70 a month for every $100,000 borrowed, so the calculator starts at $50, the midpoint. Freddie Mac also notes that PMI ends automatically when the balance is scheduled to reach 78% of the original value, if your payments are current.

FHA loans charge an upfront premium of 1.75% of the base loan, usually added to the loan, plus an annual premium paid monthly. Under HUD Mortgagee Letter 2023-05, a 30-year FHA loan at or under the national conforming limit ($832,750 in 2026) pays 0.50% a year at 95% loan-to-value or less and 0.55% above 95%. If you put at least 10% down, it stops after 11 years; otherwise it lasts the life of the loan. We estimate the monthly amount as the annual rate times the base loan ÷ 12. HUD charges it on the average balance for each year, so the real figure falls slightly over time.

The Oklahoma mortgage registration tax

Oklahoma taxes the recording of a mortgage. Under 68 O.S. § 1904, a mortgage of five years or more pays 10 cents for each $100 of principal “and each remaining fraction thereof”, so a partial $100 counts as a full one, plus a $5 certification fee to the county treasurer. On a $225,000 loan that's $225 + $5 = $230. The statute says the tax may be paid by the borrower, the lender or any other interested party, so check your Loan Estimate to see who pays.

Worked example: an FHA purchase in Oklahoma City

$300,000 home, FHA, 3.5% down ($10,500), 30-year fixed at 7.40% (Freddie Mac, week of Oct 8, 2026), district code 200 with the homestead exemption, and the statewide insurance average:

Over 360 payments this loan pays $439,660 in interest; after five years the balance is $278,433.

The formula

M = P × r / (1 − (1 + r)^−n)
Payment = M + tax/12 + insurance/12 + PMI or MIP + HOA