Oklahoma Conventional Loans | OK Conforming Loan Limits

What are Conventional Loans and Conforming Loans?

By definition, a Conventional Loan is any mortgage that’s not guaranteed or insured by the federal government. Oklahoma conventional loans may be either “conforming” and “non-conforming”, although ‘conventional loans’ generally refer to ‘conforming loans’. Therefore Oklahoma conventional loan limits are the same thing as Oklahoma conforming loan limits.

Oklahoma Conventional Loan Limits

What is the maximum amount that I can borrow?

Conventional loan limits in Oklahoma are determined by:

• Maximum LTV Ratio:  The maximum financing loan-to-value ratio for conventional mortgages is 80% – 97% of the appraised value of the home or its selling price, whichever is lower. Learn how to calculate loan-to-value.
• Maximum Loan Amount: Conventional loan limits in Oklahoma are set at the floor amount of $424,100 across the entire state. Metro areas in OK with a conforming limit of $424,100 include Oklahoma City, Norman, Tulsa, Ponca City and Lawton.

Search all Conventional Loan Limits in Oklahoma:

County Name	Area	1-Unit	2-Unit	3-Unit	4-Unit
ADAIR	NON-METRO	$510,400	$653,550	$789,950	$981,700
ALFALFA	NON-METRO	$510,400	$653,550	$789,950	$981,700
ATOKA	NON-METRO	$510,400	$653,550	$789,950	$981,700
BEAVER	NON-METRO	$510,400	$653,550	$789,950	$981,700
BECKHAM	ELK CITY, OK	$510,400	$653,550	$789,950	$981,700
BLAINE	NON-METRO	$510,400	$653,550	$789,950	$981,700
BRYAN	DURANT, OK	$510,400	$653,550	$789,950	$981,700
CADDO	NON-METRO	$510,400	$653,550	$789,950	$981,700
CANADIAN	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
CARTER	ARDMORE, OK	$510,400	$653,550	$789,950	$981,700
CHEROKEE	TAHLEQUAH, OK	$510,400	$653,550	$789,950	$981,700
CHOCTAW	NON-METRO	$510,400	$653,550	$789,950	$981,700
CIMARRON	NON-METRO	$510,400	$653,550	$789,950	$981,700
CLEVELAND	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
COAL	NON-METRO	$510,400	$653,550	$789,950	$981,700
COMANCHE	LAWTON, OK	$510,400	$653,550	$789,950	$981,700
COTTON	LAWTON, OK	$510,400	$653,550	$789,950	$981,700
CRAIG	NON-METRO	$510,400	$653,550	$789,950	$981,700
CREEK	TULSA, OK	$510,400	$653,550	$789,950	$981,700
CUSTER	WEATHERFORD, OK	$510,400	$653,550	$789,950	$981,700
DELAWARE	NON-METRO	$510,400	$653,550	$789,950	$981,700
DEWEY	NON-METRO	$510,400	$653,550	$789,950	$981,700
ELLIS	WOODWARD, OK	$510,400	$653,550	$789,950	$981,700
GARFIELD	ENID, OK	$510,400	$653,550	$789,950	$981,700
GARVIN	NON-METRO	$510,400	$653,550	$789,950	$981,700
GRADY	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
GRANT	NON-METRO	$510,400	$653,550	$789,950	$981,700
GREER	NON-METRO	$510,400	$653,550	$789,950	$981,700
HARMON	NON-METRO	$510,400	$653,550	$789,950	$981,700
HARPER	NON-METRO	$510,400	$653,550	$789,950	$981,700
HASKELL	NON-METRO	$510,400	$653,550	$789,950	$981,700
HUGHES	NON-METRO	$510,400	$653,550	$789,950	$981,700
JACKSON	ALTUS, OK	$510,400	$653,550	$789,950	$981,700
JEFFERSON	NON-METRO	$510,400	$653,550	$789,950	$981,700
JOHNSTON	NON-METRO	$510,400	$653,550	$789,950	$981,700
KAY	PONCA CITY, OK	$510,400	$653,550	$789,950	$981,700
KINGFISHER	NON-METRO	$510,400	$653,550	$789,950	$981,700
KIOWA	NON-METRO	$510,400	$653,550	$789,950	$981,700
LATIMER	NON-METRO	$510,400	$653,550	$789,950	$981,700
LE FLORE	NON-METRO	$510,400	$653,550	$789,950	$981,700
LINCOLN	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
LOGAN	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
LOVE	ARDMORE, OK	$510,400	$653,550	$789,950	$981,700
MAJOR	NON-METRO	$510,400	$653,550	$789,950	$981,700
MARSHALL	NON-METRO	$510,400	$653,550	$789,950	$981,700
MAYES	NON-METRO	$510,400	$653,550	$789,950	$981,700
MCCLAIN	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
MCCURTAIN	NON-METRO	$510,400	$653,550	$789,950	$981,700
MCINTOSH	NON-METRO	$510,400	$653,550	$789,950	$981,700
MURRAY	NON-METRO	$510,400	$653,550	$789,950	$981,700
MUSKOGEE	MUSKOGEE, OK	$510,400	$653,550	$789,950	$981,700
NOBLE	NON-METRO	$510,400	$653,550	$789,950	$981,700
NOWATA	NON-METRO	$510,400	$653,550	$789,950	$981,700
OKFUSKEE	NON-METRO	$510,400	$653,550	$789,950	$981,700
OKLAHOMA	OKLAHOMA CITY, OK	$510,400	$653,550	$789,950	$981,700
OKMULGEE	TULSA, OK	$510,400	$653,550	$789,950	$981,700
OSAGE	TULSA, OK	$510,400	$653,550	$789,950	$981,700
OTTAWA	MIAMI, OK	$510,400	$653,550	$789,950	$981,700
PAWNEE	TULSA, OK	$510,400	$653,550	$789,950	$981,700
PAYNE	STILLWATER, OK	$510,400	$653,550	$789,950	$981,700
PITTSBURG	MCALESTER, OK	$510,400	$653,550	$789,950	$981,700
PONTOTOC	ADA, OK	$510,400	$653,550	$789,950	$981,700
POTTAWATOMIE	SHAWNEE, OK	$510,400	$653,550	$789,950	$981,700
PUSHMATAHA	NON-METRO	$510,400	$653,550	$789,950	$981,700
ROGER MILLS	NON-METRO	$510,400	$653,550	$789,950	$981,700
ROGERS	TULSA, OK	$510,400	$653,550	$789,950	$981,700
SEMINOLE	NON-METRO	$510,400	$653,550	$789,950	$981,700
SEQUOYAH	FORT SMITH, AR-OK	$510,400	$653,550	$789,950	$981,700
STEPHENS	DUNCAN, OK	$510,400	$653,550	$789,950	$981,700
TEXAS	GUYMON, OK	$510,400	$653,550	$789,950	$981,700
TILLMAN	NON-METRO	$510,400	$653,550	$789,950	$981,700
TULSA	TULSA, OK	$510,400	$653,550	$789,950	$981,700
WAGONER	TULSA, OK	$510,400	$653,550	$789,950	$981,700
WASHINGTON	BARTLESVILLE, OK	$510,400	$653,550	$789,950	$981,700
WASHITA	NON-METRO	$510,400	$653,550	$789,950	$981,700
WOODS	NON-METRO	$510,400	$653,550	$789,950	$981,700
WOODWARD	WOODWARD, OK	$510,400	$653,550	$789,950	$981,700

Oklahoma conforming limits can change anytime. Check back often to ensure accuracy.

What factors determine if i’m eligible for a Conventional Loan in Oklahoma?

Conventional conforming loans follow the terms and conditions set forth by government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. To be eligible for a Conforming Loan in Oklahoma, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income. Your credit background will be considered. A FICO credit score of 620 or above is generally required to obtain a conventional loan approval. You must also have enough income to pay your housing costs plus all additional monthly debt.

How much money will I need for the down payment and closing costs?

Conventional home loans require the home buyer to invest between 3% and 20% of the sales price towards the down payment and closing costs. If the sales price is $100,000 for example, the mortgage applicant must invest at least $3,000 – $20,000 to meet conventional mortgage down payment requirements, depending on the program.

Minimum Oklahoma Conventional Loan Down Payment:

Residence Usage	Fixed-Rate Mortgage (FRM)	Adjustable-Rate Mortgage (ARM)
1 Unit Primary	3% Down Payment	10% Down Payment
2 Units Primary	15% Down Payment	25% Down Payment
3 Units Primary	25% Down Payment	35% Down Payment
4 Units Primary	25% Down Payment	35% Down Payment
1 Unit Second Home	10% Down Payment	20% Down Payment
1 Unit Investment	15% Down Payment	25% Down Payment
2 Units Investment	25% Down Payment	35% Down Payment
3 Units Investment	25% Down Payment	35% Down Payment
4 Units Investment	25% Down Payment	35% Down Payment

What property types are allowed for Conventional Conforming Mortgages?

Conventional home loan requirements & guidelines allow you to purchase warrantable condos, planned unit developments, modular homes, manufactured homes, and 1-4 family residences. Conventional loans can be used to finance primary residences, second homes and investment property.

Learn more about conventional mortgages.

What types of mortgage and refinance programs do Conventional Loans offer in Oklahoma?

There are several varieties of standard home purchase, first-time home buyer and conventional refinance loans available in Oklahoma:

• Conventional Purchase Loans – Conventional loans offer a variety of programs for applicants with good credit ratings to buy a home. Both 3% down mortgage and 5% down mortgage options are available, however 20% down is the minimum amount required to avoid private mortgage insurance.
• Conventional Rate/Term Refinance: Conventional Rate/Term refinancing loans are for borrowers who currently have an FHA, VA, USDA or conventional fixed rate mortgage or ARM loan and wish to refinance into a conventional mortgage with a lower interest rate. If you’re a homeowners considering a stable, conventional fixed-rate mortgage, this program may also eliminate your mortgage insurance if you have at 20% equity in your home.  If not, Conventional 97% loan programs may also work for you.
• Cash-Out Refinance: A Conventional Cash Out Refinance is perfect for the homeowner who wants to access the equity that they have built up in their home. This program is beneficial to homeowners whose property has increased in value since it was purchased.

What factors determine if I am eligible for a Conventional Refinance Loan?

To meet conventional refinance mortgage requirements in Oklahoma, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income. Your credit background will be considered. You must be able to cover closing costs and have enough income to pay your monthly debt.

Conventional Loan Requirements

More Oklahoma Mortgage Limits

• FHA Loan Limits in Oklahoma
• Oklahoma Conforming Loan Limits
• VA Loan Limits in Oklahoma
• USDA Loan Limits in Oklahoma
• USDA Loan Income Limits in Oklahoma

You may also want to visit these additional home loan resources before deciding on a mortgage program:

• Nationwide Conforming Loan Limits
• Calculate Your Conforming Loan Payment
• Check Current Conforming Loan Rates
• Conforming Loan Requirements
• FHA Loan Requirements
• Conventional Loan Programs
• Home Loan Comparison
• Mortgage Questions
• Calculate Debt-to-Income Ratio
• FHA Loan Limits
• USDA Loan Limits
• VA Loan Limits
• Conventional Loan Down Payment
• Down Payment Assistance Programs
• PMI Insurance – What is PMI?