Oklahoma's #1 Reverse Mortgage

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)

All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

By Michael G. Branson   Edited by Cliff Auerswald

Reverse Mortgages in Oklahoma: A Comprehensive Guide

If you’re an Oklahoma homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Oklahoma, including key facts, the latest statistics, top lenders, and essential protections.

Top Reverse Mortgage Lenders in Oklahoma

Latest Oklahoma Reverse Mortgage Statistics

Oklahoma Reverse Mortgage Lending Limits

Oklahoma is the 28th most populous state in the U.S. and ranks 20th in terms of land size. As of 2024, approximately 4 million people reside in the state, with a large portion of the population centered around Oklahoma City and Tulsa. Of these residents, around 500,000 are aged 65 or older, and 68.9% of Oklahomans are homeowners.

History and Economic Overview

Oklahoma became part of the United States through the Louisiana Purchase in 1803. It served as a relocation area for various Native American tribes during the 19th century and became a hub for settlers following the Land Runs of the late 1800s. In 1907, Oklahoma was admitted as the 47th state in the Union. The Dust Bowl of the 1930s severely impacted the state, leading to widespread agricultural devastation due to drought and wind erosion.

Oklahoma City, the state’s capital and largest city, boasts a population of 631,346 within city limits and 1.3 million in the greater metro area. It was famously settled during the 1889 Land Run and is known for being the birthplace of the first parking meter and shopping cart. Oklahoma City has also produced notable figures like actor Ron Howard and chef Rick Bayless. After Oklahoma City, the next largest cities include Tulsa, Norman, and Broken Arrow.

Climate and Geography

Oklahoma experiences a mix of humid subtropical and semi-arid climates, with more humid conditions in the southern and eastern regions. The state enjoys long, hot summers with an average high of 94°F in July and mild winters, where January sees an average low of 29°F. Despite its mild winters, Oklahoma is part of Tornado Alley, making it prone to severe weather events, including tornadoes during spring and summer.

Economic Highlights

Oklahoma’s economy is diverse, with key industries including aerospace and defense, agriculture, energy, and biosciences. Major employers like Express Employment Professionals, Hobby Lobby, and Avis Budget Group drive the state’s workforce.

Home Values and Reverse Mortgage Opportunities

As of January 2025, the average home value in Oklahoma is $203,806, which is below the federal maximum reverse mortgage lending limit of $1,209,750 for Home Equity Conversion Mortgages (HECM). This makes most Oklahoma homeowners eligible to access the full benefits of a reverse mortgage. For those with homes exceeding the HECM limit, jumbo reverse mortgage programs are available to provide additional borrowing power.

HUD-Approved Reverse Mortgage Counseling Agencies in Oklahoma

Did you know? Oklahoma State does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.

Top Lender Resources in OK:
Reversemortgage.org NRMLA Members in Oklahoma
HUD.GOV Approved Lenders Search