Where our numbers come from
Property tax: In Oklahoma County we use your school district's 2025 levy from the county assessor, certified Nov 17, 2025. Those totals run from 87.80 to 140.78 mills. Elsewhere we use the Tax Commission's county average, so your bill could run higher or lower.
Insurance: Oklahoma's average is about $5,300 a year, the highest of any state (LendingTree, 2026). That's more than double the U.S. average. Swap in your real quote, because it's the number most likely to be off.
Interest rate: Freddie Mac's weekly average, updated Thursdays. You can also tap OHFA's posted rate or type the rate a lender quoted you.
Mortgage insurance: FHA's premiums come from HUD's published table. PMI on a conventional loan is an estimate, since no lender table is public.
Mortgage registration tax: Oklahoma charges 10 cents per $100 of the loan, plus a $5 county fee, once at closing. On a $225,000 loan that's $230.
Worked example: an FHA purchase in Oklahoma City
A $300,000 home with an FHA loan and 3.5% down, at 7.40% for 30 years. It's in district code 200 (Oklahoma City schools) with the homestead exemption, and insurance is the statewide average.
| Base loan: $300,000 − $10,500 | $289,500.00 |
| Upfront MIP, 1.75%, added to the loan | $5,066.25 |
| Principal & interest on $294,566.25 | $2,039.52 |
| Property tax: $3,932.80 ÷ 12 | $327.73 |
| Insurance: $5,298 ÷ 12 | $441.50 |
| FHA annual MIP: 0.55% × $289,500 ÷ 12 | $132.69 |
| Total per month | $2,941.44 |
Over 360 payments that loan pays about $440,000 in interest. After five years the balance is still about $278,000.
PMI and FHA mortgage insurance
Conventional loans add PMI when you put down less than 20%. Freddie Mac says it ends on its own when your balance is scheduled to reach 78% of the original value, if you're current on payments.
FHA loans charge 1.75% of the base loan up front, usually added to the loan, plus an annual premium paid monthly. On a 30-year loan up to $832,750, that's 0.50% a year at 95% loan-to-value or less and 0.55% above. Put down at least 10% and it stops after 11 years.
Related: What your district and the homestead exemption do to the tax →
Related: Everything else you pay at closing in Oklahoma →
Related: A loan officer the site owner recommends →
Questions
Which property tax rate does the calculator use?
In Oklahoma County, the total levy for the city and school district you pick, from the county assessor's 2025 table. In the other 76 counties, the Tax Commission's 2024 county average.
Is the interest rate a quote?
No. It starts at Freddie Mac's national average for the week of Oct 8, 2026: 7.40% for 30 years and 6.73% for 15. OHFA's rates were posted Oct 8, 2026 and change every business day. Your lender sets your rate.
When does PMI stop?
Freddie Mac says PMI ends on its own when your balance is scheduled to reach 78% of the home's original value, if you're current. You can ask to cancel it once you have 20% equity.
Do I get the homestead exemption automatically?
No. You file Form 921 with your county assessor by March 15. Once it's granted it continues while you live there. The Oklahoma County Assessor says to file again if you change your deed or move.
Notes
- The starting rate is Freddie Mac's Primary Mortgage Market Survey® average for the week of Oct 8, 2026, shown as published. A lender prices your loan on your credit and down payment.
- Outside Oklahoma County we use the Tax Commission's 2024 county average. Your district's rate can be higher or lower.
- Oklahoma's statewide average for $350,000 of dwelling coverage and a $1,000 deductible (LendingTree, Jun 8, 2026). Your quote will differ.
- No official PMI table is public. Freddie Mac says to expect about $30 to $70 a month per $100,000 borrowed, so we start at $50.
- HUD charges the annual premium on each year's average balance, so the real amount falls a little every year.
Sources
- Freddie Mac, Primary Mortgage Market Survey® history (CSV) (Oct 8, 2026; retrieved Oct 8, 2026)
- Oklahoma Housing Finance Agency (OHFA), Interest Rates (Oct 8, 2026; retrieved Oct 8, 2026)
- Oklahoma County Assessor, Oklahoma County Tax Rates/Millages for 2025 (Nov 17, 2025; retrieved Oct 8, 2026)
- Oklahoma Tax Commission (OTC), Ad Valorem Division, 2024 Ad Valorem Statistics (2024; retrieved Oct 8, 2026)
- Oklahoma County Assessor, Homestead Exemption (Oct 8, 2026; retrieved Oct 8, 2026)
- Oklahoma Tax Commission (OTC), Oklahoma Administrative Code 710:10 (Ad Valorem), 2026 (Aug 11, 2024; retrieved Oct 8, 2026)
- Oklahoma Tax Commission (OTC), Form 921, Application for Homestead Exemption (revised 3-2026) (Mar 2026; retrieved Oct 8, 2026)
- LendingTree, State of Home Insurance: 2026 (Jun 8, 2026; retrieved Oct 8, 2026)
- Freddie Mac (My Home), Breaking down PMI (Oct 8, 2026; retrieved Oct 8, 2026)
- U.S. Department of Housing and Urban Development (HUD), Mortgagee Letter 2023-05: Annual mortgage insurance premium rates (Mar 20, 2023; retrieved Oct 8, 2026)
- Oklahoma Statutes via Oklahoma Department of Libraries (Digital Prairie), 68 O.S. § 1904, Mortgage taxes (May 19, 2000; retrieved Oct 8, 2026)
- Federal Housing Finance Agency (FHFA), 2026 conforming loan limits, full county list (CSV) (Jan 1, 2026; retrieved Oct 8, 2026)
- U.S. Department of Housing and Urban Development (HUD), CY2026 FHA forward mortgage limits (CHUMS fixed-width file) (Jan 1, 2026; retrieved Oct 8, 2026)
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