Compare Current Norman, Oklahoma Mortgage Rates

Compare Norman, OK mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Norman.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Norman. Plus, shopping lenders is free and there is no obligation.

Norman, OK Mortgage Rates as of June 18, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Norman, OK Mortgage Rates

June 18, 2024

Current mortgage rates in Norman, OK are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Norman, OK Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Norman, Oklahoma?

Below we provide helpful information on the real estate market, home prices and housing affordability in Norman. Understand how much you need to earn to afford a home in Norman, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Norman fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Norman is right for you.

The median home value for Norman, OK (Cleveland County) is $218,424

Based on current mortgage rates and a 10% down payment, you need to make $45,567 per year to buy the median priced home in Norman

With this income, you could qualify for a $196,581 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Norman is $1,055

The median household income for Norman, OK (Cleveland County) is $68,153

Based on this income, you can afford a home valued at approximately $326,690

The home price you can afford to buy based on household income in Norman is 150% of the median home value which means housing prices are average. Norman (Cleveland County) ranks 71 out of 77 counties in Oklahoma and 1,897 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Norman, OK is average


Loan Limits for Norman, Oklahoma

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Norman (Cleveland County) below.

Conforming loan limits for Norman, OK

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Norman, OK

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Norman, OK

1 unit: $726,200

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