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 Cash Out Refi loans. Wichita Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Wichita, Boulder, Hutchinson, Kansas City, and Stillwater 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 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 12/16/24
    30 Year Conventional Refi 8.36% 12/16/24
    30 Year Cash-out Refi 6.68% 12/16/24
    30 Year FHA Purchase 6.31% 12/16/24
    15 Year Conventional Purchase 6.65% 12/16/24
    15 Year Conventional Refi 6.80% 12/16/24
    15 Year Cash-out Refi 6.80% 12/16/24
    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

    178

    Origination Dollar Volume (All Markets)

    $21,790,000

    Awards

    Wichita Federal Credit Union 30 Year Conventional Loans gold Wichita Federal Credit Union 30 Year Conventional Loans silver
    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) 166 $19,410,000 $116,928 $1,510 5.34%
    Outside of Metro Areas 2 $530,000 $265,000 $2,316 3.69%
    BOULDER, CO (FHA|USDA|VA) 1 $515,000 $515,000 $2,450 5.75%
    Hutchinson, KS (FHA|USDA|VA) 2 $370,000 $185,000 $1,898 6.06%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $310,000 $155,000 $4,559 4.38%
    Stillwater, OK (FHA|USDA|VA) 1 $275,000 $275,000 $3,505 5.50%
    MANHATTAN, KS (FHA|USDA|VA) 1 $125,000 $125,000 $1,931 2.63%
    Coffeyville, KS (FHA|USDA|VA) 1 $95,000 $95,000 $1,758 6.00%
    McPherson, KS (FHA|USDA|VA) 1 $85,000 $85,000 $485 6.00%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $75,000 $75,000 $2,950 4.75%
    Wichita Federal Credit Union's top markets include Wichita, Boulder, Hutchinson, Kansas City, and Stillwater among others.

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

    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 34
    SKYWARD
    Similarity Rank: 124
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 126
    Members Mortgage Services, L.L.C.
    Similarity Rank: 198
    Intrust Bank
    Similarity Rank: 425
    MID AMERICAN
    Similarity Rank: 513
    Emprise Bank
    Similarity Rank: 551
    MERITRUST Federal Credit Union
    Similarity Rank: 555
    Wichita Federal Credit Union
    Similarity Rank: 570
    GOLDEN PLAINS
    Similarity Rank: 620

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 177 $21,685,000 $122,514 $1,587 5.32%
    FHA 1 $105,000 $105,000 $550 3.00%

    For 2022, Wichita Federal Credit Union's most frequently originated type of loan was Conventional, with 177 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $12,945,000 $182,324 $2,511 5.21%
    Cash Out Refi 56 $6,150,000 $109,821 $1,163 5.49%
    Home Improvement 24 $1,340,000 $55,833 $722 5.25%
    Other 20 $900,000 $45,000 $577 5.38%
    Refi 7 $455,000 $65,000 $1,267 4.82%

    For 2022, Wichita Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $10,635,000 $217,041 $2,517 5.17%
    15 Year 47 $4,225,000 $89,894 $1,049 5.51%
    20 Year 39 $4,855,000 $124,487 $1,916 4.85%
    10 Year 22 $1,310,000 $59,545 $998 5.54%
    Other 17 $625,000 $36,765 $555 5.99%
    5 Year 4 $140,000 $35,000 $413 4.75%

    For 2022, Wichita Federal Credit Union's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 172 $20,720,000 $120,465
    $2k-3k 2 $520,000 $260,000
    $5k+ 2 $320,000 $160,000
    $4k-5k 1 $195,000 $195,000

    Wichita Federal Credit Union's average total fees were $2,517, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 172 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 49 $5,815,000 $118,673
    4-5% 35 $4,885,000 $139,571
    3-4% 30 $4,410,000 $147,000
    6-7% 29 $2,475,000 $85,345
    7-8% 13 $1,575,000 $121,154
    2.5-3% 11 $1,715,000 $155,909
    Over 8% 9 $675,000 $75,000
    <2.5% 2 $240,000 $120,000

    During 2022, Wichita Federal Credit Union's average interest rate for loans was 5.17%, while their most frequently originated rate bucket for loans was 5-6%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 96 $5,040,000 $52,500 $978 5.76%
    $100k-200k 44 $6,050,000 $137,500 $2,092 4.64%
    $200k-400k 34 $8,780,000 $258,235 $2,443 4.94%
    $400k-600k 4 $1,920,000 $480,000 $2,937 4.91%

    2022 saw Wichita Federal Credit Union place emphasis on $100,000 or less loans with 96 originations, totaling $5,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 48 $4,560,000 $95,000 $1,426 5.22%
    $100k-150k 39 $6,835,000 $175,256 $1,791 5.17%
    $75k-100k 39 $4,495,000 $115,256 $1,545 5.56%
    $50k or less 35 $2,605,000 $74,429 $1,537 5.20%
    $150k-250k 14 $2,780,000 $198,571 $1,715 5.64%
    $250k+ 3 $515,000 $171,667 $1,673 4.79%

    Wichita Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 48 originations. The second most popular income band? $100k-150k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 38 $4,700,000 $123,684 $1,452 4.30%
    20-30% 37 $4,465,000 $120,676 $2,012 5.48%
    30-36% 23 $2,415,000 $105,000 $1,281 5.53%
    42% 10 $1,540,000 $154,000 $1,581 6.25%
    39% 8 $1,150,000 $143,750 $1,185 5.08%
    45% 7 $925,000 $132,143 $1,174 4.91%
    36% 7 $735,000 $105,000 $1,756 5.59%
    40% 6 $530,000 $88,333 $1,722 5.58%
    37% 6 $940,000 $156,667 $1,495 4.31%
    41% 6 $850,000 $141,667 $1,342 6.42%
    38% 5 $685,000 $137,000 $1,388 6.23%
    50-60% 4 $410,000 $102,500 $1,492 5.78%
    43% 4 $380,000 $95,000 $1,507 6.41%
    46% 4 $280,000 $70,000 $1,449 6.56%
    47% 4 $460,000 $115,000 $1,265 5.41%
    48% 4 $550,000 $137,500 $2,122 5.09%
    49% 3 $665,000 $221,667 $2,765 6.67%
    44% 2 $110,000 $55,000 $1,385 4.31%

    Wichita Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 38 originations. The next most common DTI ratio? 20-30%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 144 $18,920,000 $131,389 $1,656 5.23%
    Black 18 $1,890,000 $105,000 $1,484 5.43%
    Asian 7 $495,000 $70,714 $809 5.46%
    Not provided 6 $330,000 $55,000 $677 5.50%
    American Indian 3 $155,000 $51,667 $1,919 7.54%

    Approval Rates

    Total approvals of all applications
    86.91%

    Wichita Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.10%

    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 178 $21,790,000 $122,416

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    178 $21,790,000 $122,416

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $2,590,000 $58,864 $720 6.31%
    40-60% 7 $525,000 $75,000 $1,387 5.66%
    60-80% 35 $5,985,000 $171,000 $2,537 4.53%
    80-100% 67 $11,805,000 $176,194 $2,027 4.95%
    Under 20% 24 $840,000 $35,000 $514 5.45%