Wichita Federal Credit Union Mortgage Rates, Fees & Info

Wichita, KS

LEI: 5493007GBJOK22LYB425

Tax ID: 48-0542670

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Wichita Federal Credit Union is a smaller credit union specializing in Home Purchase and Other loans. Wichita Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Kansas City, Hutchinson, Winfield, and Fort Collins among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Wichita Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Wichita Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 4/28/24
    30 Year Conventional Refi 8.36% 4/28/24
    30 Year Cash-out Refi 6.68% 4/28/24
    30 Year FHA Purchase 6.31% 4/28/24
    15 Year Conventional Purchase 6.65% 4/28/24
    15 Year Conventional Refi 6.80% 4/28/24
    15 Year Cash-out Refi 6.80% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Wichita Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Wichita Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    326

    Origination Dollar Volume (All Markets)

    $49,530,000

    Awards

    Wichita Federal Credit Union 30 Year Conventional Loans gold Wichita Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    WICHITA, KS (FHA|USDA|VA) 295 $44,235,000 $149,949 $1,702 3.46%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 7 $1,635,000 $233,571 $2,284 3.11%
    Hutchinson, KS (FHA|USDA|VA) 11 $1,595,000 $145,000 $1,604 4.32%
    Outside of Metro Areas 6 $710,000 $118,333 $1,941 3.50%
    Winfield, KS (FHA|USDA|VA) 2 $530,000 $265,000 $2,083 2.81%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $255,000 $255,000 $1,760 2.75%
    Stillwater, OK (FHA|USDA|VA) 1 $225,000 $225,000 $2,759 3.75%
    Emporia, KS (FHA|USDA|VA) 1 $125,000 $125,000 $1,871 2.75%
    LAWRENCE, KS (FHA|USDA|VA) 1 $125,000 $125,000 $1,774 2.88%
    MANHATTAN, KS (FHA|USDA|VA) 1 $95,000 $95,000 $2,452 2.88%
    Wichita Federal Credit Union's top markets include Wichita, Kansas City, Hutchinson, Winfield, and Fort Collins among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Wichita Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GOLDEN PLAINS
    Similarity Rank: 114
    SKYWARD
    Similarity Rank: 189
    Wichita Federal Credit Union
    Similarity Rank: 340
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 432
    Central National Bank
    Similarity Rank: 540
    Intrust Bank
    Similarity Rank: 616
    Members Mortgage Services, L.L.C.
    Similarity Rank: 693
    Citizens Bank of Kansas
    Similarity Rank: 732
    CREDIT UNION OF AMERICA
    Similarity Rank: 903
    HEARTLAND CREDIT UNION
    Similarity Rank: 1159

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 326 $49,530,000 $151,933 $1,724 3.47%

    For 2020, Wichita Federal Credit Union's most frequently originated type of loan was Conventional, with 326 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $18,370,000 $158,362 $1,892 3.54%
    Other 82 $14,130,000 $172,317 $1,668 3.28%
    Cash Out Refi 64 $7,230,000 $112,969 $1,527 3.89%
    Refi 49 $8,225,000 $167,857 $1,811 2.84%
    Home Improvement 15 $1,575,000 $105,000 $1,287 4.31%

    For 2020, Wichita Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Other, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 151 $28,785,000 $190,629 $1,955 3.24%
    15 Year 79 $9,595,000 $121,456 $1,428 3.61%
    20 Year 57 $8,175,000 $143,421 $1,955 3.26%
    10 Year 26 $2,590,000 $99,615 $1,418 3.83%
    Other 12 $340,000 $28,333 $438 5.59%
    5 Year 1 $45,000 $45,000 $395 5.25%

    For 2020, Wichita Federal Credit Union's most frequently cited loan duration was 30 Year, with 151 originations. The 2nd most popular length was 15 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $48,020,000 $151,962
    $1k-2k 9 $1,395,000 $155,000
    $3k-4k 1 $115,000 $115,000

    Wichita Federal Credit Union's average total fees were $1,955, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 111 $19,815,000 $178,514
    3-4% 109 $17,815,000 $163,440
    <2.5% 42 $8,190,000 $195,000
    5-6% 33 $1,345,000 $40,758
    4-5% 23 $2,105,000 $91,522
    6-7% 6 $180,000 $30,000
    7-8% 2 $80,000 $40,000

    During 2020, Wichita Federal Credit Union's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 2.5-3%, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 136 $19,790,000 $145,515 $1,854 3.09%
    $100,000 or less 102 $5,690,000 $55,784 $1,229 4.43%
    $200k-400k 83 $21,805,000 $262,711 $2,078 2.97%
    $400k-600k 5 $2,245,000 $449,000 $2,416 2.70%

    2020 saw Wichita Federal Credit Union place emphasis on $100k-200k loans with 136 originations, totaling $19,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 89 $16,505,000 $185,449 $1,805 3.28%
    $50k-75k 84 $10,270,000 $122,262 $1,686 3.62%
    $75k-100k 69 $10,745,000 $155,725 $1,754 3.37%
    $50k or less 46 $3,940,000 $85,652 $1,439 3.73%
    $150k-250k 31 $6,355,000 $205,000 $1,910 3.57%
    $250k+ 4 $1,140,000 $285,000 $1,926 3.19%

    Wichita Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $50k-75k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 75 $10,745,000 $143,267 $1,779 3.44%
    20-30% 73 $11,855,000 $162,397 $1,726 3.33%
    <20% 38 $4,880,000 $128,421 $1,719 3.00%
    43% 15 $2,915,000 $194,333 $1,665 3.51%
    39% 12 $1,990,000 $165,833 $1,725 3.41%
    37% 12 $2,170,000 $180,833 $1,812 3.45%
    50-60% 11 $1,995,000 $181,364 $1,829 4.01%
    44% 10 $1,170,000 $117,000 $1,371 4.16%
    42% 10 $1,380,000 $138,000 $1,711 3.25%
    36% 10 $1,510,000 $151,000 $1,714 3.66%
    41% 9 $1,285,000 $142,778 $1,834 3.86%
    40% 8 $880,000 $110,000 $1,439 4.17%
    47% 8 $1,350,000 $168,750 $1,636 3.81%
    38% 7 $865,000 $123,571 $1,690 4.09%
    46% 6 $820,000 $136,667 $1,672 3.52%
    49% 6 $980,000 $163,333 $1,796 3.50%
    45% 5 $685,000 $137,000 $1,448 3.85%
    48% 2 $130,000 $65,000 $270 5.63%

    Wichita Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 292 $44,260,000 $151,575 $1,731 3.46%
    Asian 12 $2,500,000 $208,333 $1,991 2.99%
    Black 15 $1,785,000 $119,000 $1,539 4.22%
    Not provided 4 $490,000 $122,500 $1,238 3.38%
    Other Asian 1 $285,000 $285,000 $1,956 2.63%
    American Indian 2 $210,000 $105,000 $1,298 4.19%

    Approval Rates

    Total approvals of all applications
    95.32%

    Wichita Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    20.86%

    Wichita Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 326 $49,530,000 $151,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $280,000 $140,000
    Single Family (1-4 Units):Site-Built 324 $49,250,000 $152,006

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $1,720,000 $71,667 $911 4.94%
    40-60% 33 $4,515,000 $136,818 $1,628 3.08%
    60-80% 127 $20,905,000 $164,606 $1,907 3.06%
    80-100% 109 $19,595,000 $179,771 $1,921 3.31%
    Under 20% 21 $555,000 $26,429 $455 5.69%