Oklahoma mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Oklahoma. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Oklahoma housing market

Oklahoma, the Sooner State, saw home values increase by 5.5% last year. However, it... still has a very affordable housing market, the 4th most affordable in the country. Fun fact: Oklahoma was the home to the first installed parking meter. Cha-ching!

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,038$1,441
Mortgage Rate4.125%2.516%*2.951%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,038$1,441
Mortgage Rate4.125%2.516%*2.951%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


Oklahoma mortgage and refinance rates today (APR)

Loan typeAverage
1 day
1 year
30-year fixed2.964%
15-year fixed2.612%
5/1 ARM3.306%

Today’s rate

30-year fixed

Current rates in Oklahoma are 2.964% for a 30-year fixed, 2.612% for a 15-year fixed, and 3.306% for a 5/1 adjustable-rate mortgage (ARM).

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

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First-time home buyer programs in Oklahoma

There are several national first-time home buyer programs that may be able to help you get into a home in Oklahoma.

Conventional mortgage

National program

What you need to know

Best for home buyers with good credit looking for low down payments or limited mortgage insurance premiums. A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie...

See full article

Average property tax in Oklahoma counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Oklahoma. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Adair County0.51%$81,200
Alfalfa County0.58%$74,500
Atoka County0.45%$98,400
Beaver County0.51%$106,500
Beckham County0.66%$117,100
Blaine County0.6%$83,800
Bryan County0.66%$98,900
Caddo County0.57%$81,900
Canadian County1.01%$166,600
Carter County0.82%$109,000
Cherokee County0.59%$111,300
Choctaw County0.39%$88,800
Cimarron County0.55%$57,400
Cleveland County1.03%$162,800
Coal County0.41%$87,800
Comanche County0.82%$139,900
Cotton County0.81%$77,600
Craig County0.57%$96,100
Creek County0.82%$135,000
Custer County0.72%$127,600
Delaware County0.59%$110,000
Dewey County0.53%$86,700
Ellis County0.52%$83,700
Garfield County0.83%$104,000
Garvin County0.54%$93,400
Grady County0.75%$117,200
Grant County0.6%$76,400
Greer County0.63%$65,800
Harmon County0.58%$49,700
Harper County0.49%$76,300
Haskell County0.52%$87,500
Hughes County0.54%$69,400
Jackson County0.69%$97,800
Jefferson County0.32%$59,700
Johnston County0.47%$79,500
Kay County0.68%$84,100
Kingfisher County0.66%$136,200
Kiowa County0.63%$62,500
Latimer County0.44%$81,100
Le Flore County0.62%$87,200
Lincoln County0.58%$103,400
Logan County0.78%$153,100
Love County0.67%$94,600
Major County0.64%$94,000
Marshall County0.55%$86,600
Mayes County0.68%$106,700
McClain County0.81%$166,400
McCurtain County0.46%$78,000
McIntosh County0.47%$95,300
Murray County0.44%$107,100
Muskogee County0.7%$107,000
Noble County0.77%$94,800
Nowata County0.63%$81,600
Okfuskee County0.52%$79,100
Oklahoma County1.01%$152,300
Okmulgee County0.66%$80,300
Osage County0.77%$110,100
Ottawa County0.58%$84,300
Pawnee County0.7%$87,500
Payne County0.82%$156,400
Pittsburg County0.51%$98,400
Pontotoc County0.58%$120,300
Pottawatomie County0.68%$118,900
Pushmataha County0.47%$73,400
Roger Mills County0.77%$106,100
Rogers County0.8%$157,500
Seminole County0.58%$71,200
Sequoyah County0.52%$92,500
Stephens County0.66%$104,000
Texas County0.58%$109,300
Tillman County0.74%$54,100
Tulsa County1.12%$155,600
Wagoner County0.82%$160,600
Washington County0.88%$112,600
Washita County0.51%$80,200
Woods County0.52%$93,100
Woodward County0.67%$123,000

Source: American Communities Survey 2016, U.S. Census

How do I calculate my mortgage payment?

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a refinancing calculator.

Under "Down payment," enter the amount of the down payment (if you're buying) or the amount of equity you have (if refinancing).

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may also enter your own figures for property taxes, homeowners insurance and homeowners association fees, if you don't wish to use NerdWallet's estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

What's the formula for calculating a mortgage payment?

The mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How can a mortgage calculator help me?

Determining what your monthly house payment will be is an important part of answering the question "how much house can I afford?" That monthly payment is likely to be the biggest part of your cost of living.

Using this tool to calculate your mortgage payment can help you run scenarios as you buy a home or consider a refinance. It can help you decide:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you'll pay, but your monthly payment will be higher.
  • Is an ARM a good option? Adjustable-rate mortgages start with a "teaser" interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years. You’ll want to be aware of how much your monthly mortgage payment can change when the introductory rate expires, especially if interest rates are trending higher.
  • Are you buying too much home? The mortgage payment calculator can give you a reality check on how much you can expect to pay each month, especially when considering all the costs, including taxes, insurance and private mortgage insurance.
  • Are you putting enough money down? With minimum down payments commonly as low as 3%, it's easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment may be for you.

What costs are included in a monthly mortgage payment?

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

  • Principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
  • Interest: What the lender charges you to lend you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual premium each month, and the servicer pays the bill when it's due.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

Can I reduce my monthly payment?

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

  • Extend the term (the number of years it will take to pay off the loan). With a longer term, your payment will be lower but you’ll pay more interest over the years. Review your amortization schedule to see the impact of extending your loan.
  • Buy less house. Taking out a smaller loan means a smaller monthly mortgage payment.
  • Avoid paying PMI. With a down payment of 20% or more, you won’t have to pay private mortgage insurance. Similarly, keeping at least 20% equity in the home lets you avoid PMI when you refinance.
  • Get a lower interest rate. Making a larger down payment can not only let you avoid PMI, but reduce your interest rate, too. That means a lower monthly mortgage payment.

Can my monthly payment go up?

Yes, your monthly payment can go up over time:

  1. If property taxes or homeowners insurance premiums rise. These costs are included in most mortgage payments.
  2. If you incur a late payment fee from your mortgage loan servicer.
  3. If you have an adjustable-rate mortgage and the rate rises at the adjustment period.