How to Buy a House in Oklahoma
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$218,822
Closing Costs
$13,056
5.97% of price
Property Tax Rate
0.77%
$1,360/yr median
Days on Market
45
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Judicial
Transfer Tax
0.15%
$0.75 per $500
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Key Facts About Buying in Oklahoma
- ✓Very affordable housing market
- ✓Both judicial and non-judicial foreclosure
- ✓Unlimited homestead exemption value
- ✓Low closing costs
The Home Buying Process in Oklahoma
Buying a home in Oklahoma follows a 10-step process. Oklahoma does not require an attorney at closing, though you may choose to hire one.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in Oklahoma
OHFA Homebuyer Down Payment Assistance
Down payment and closing cost help
Up to 3.5% of loan amountIncome: Varies by county
Cost of Buying a Home in Oklahoma
| Down Payment (3.5% FHA) | $7,659 |
| Down Payment (20% Conventional) | $43,764 |
| Average Closing Costs | $13,056 |
| Transfer Tax | $328 |
| Annual Property Tax (est.) | $1,685/yr |
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Legal & Regulatory Details in Oklahoma
Homestead Exemption
Available
Unlimited value, up to 1 acre in city
Licensing Authority
Oklahoma Real Estate Commission
Oklahoma Real Estate Law Overview
| Conveyance Document | Warranty deed; quitclaim deed sometimes used |
| Security Instrument | Real-estate mortgage; power-of-sale mortgage sometimes used |
| Foreclosure Process | Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | Yes |
| Redemption After Sale | Yes |
| Reinstatement Available | No |
| Seller Disclosures | Sellers must disclose structural issues not found by inspection, water/sewage problems, drainage issues, heating/air-duct leaks, pest infestations, environmental hazards and natural-disaster damage. Flood-zone status and ongoing problems with heating, air-conditioning, electrical and plumbing systems must also be disclosed. |
