Wichita Falls USDA Loan Rates, Closing Costs & Stats

WICHITA FALLS, TX

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Wichita Falls's 6 lenders originated 14 USDA loans during 2021. The total origination value was $1,730,000, with an average USDA loan value of $123,571.

Wichita Falls USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Wichita Falls averaged 6.57% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Wichita Falls's average USDA mortgage closing costs are $4,208.

The average rate for the prior week (2022-11-25) was 6.41% and one month ago for the week of 2022-10-28, the average rate was 6.68%.

The average rate one year ago was 3.57%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.26%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Wichita Falls USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wichita Falls level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
First Bank & Trust 2 3.00% $4,064
GUILD MORTGAGE COMPANY 2 3.13% $4,670
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.63% $5,056
First National Bank 1 3.00% $5,110
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.75% $2,746
Republic State Mortgage Co. 1 3.00% $3,922

The top Wichita Falls USDA lender as defined by loan originations is First Bank & Trust, with 2 USDA loans originated. Their average total fees are $4,064, which is $605 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Wichita Falls USDA lenders (with over 10 loans originated) are .

The lowest rate Wichita Falls USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Wichita Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $110,225 (0.3%) $167,092 (8.5%) 0.41 487
2018-02-01 $113,475 (3.3%) $166,502 (7.3%) 0.41 486
2018-03-01 $127,500 (14.1%) $175,469 (11.1%) 0.45 487
2018-04-01 $132,225 (15.1%) $187,891 (17.4%) 0.45 481
2018-05-01 $123,200 (7.2%) $183,840 (12.3%) 0.41 498
2018-06-01 $125,000 (9.7%) $183,799 (12.7%) 0.42 513
2018-07-01 $131,738 (19.8%) $183,841 (14.1%) 0.44 522
2018-08-01 $138,225 (31.7%) $187,094 (16.4%) 0.46 527
2018-09-01 $137,450 (25.0%) $187,260 (12.1%) 0.46 523
2018-10-01 $136,500 (18.8%) $187,613 (11.0%) 0.46 542
2018-11-01 $135,375 (17.0%) $190,868 (13.8%) 0.46 534
2018-12-01 $135,000 (20.5%) $190,414 (13.8%) 0.47 506
2019-01-01 $134,975 (22.5%) $195,673 (17.1%) 0.47 433
2019-02-01 $131,450 (15.8%) $196,184 (17.8%) 0.44 413
2019-03-01 $132,028 (3.6%) $195,055 (11.2%) 0.43 418
2019-04-01 $134,011 (1.4%) $193,274 (2.9%) 0.43 424
2019-05-01 $132,250 (7.4%) $194,303 (5.7%) 0.41 419
2019-06-01 $134,700 (7.8%) $194,907 (6.0%) 0.42 421
2019-07-01 $128,913 (-2.1%) $186,861 (1.6%) 0.40 476
2019-08-01 $131,100 (-5.2%) $189,394 (1.2%) 0.42 465
2019-09-01 $133,013 (-3.2%) $191,178 (2.1%) 0.43 451
2019-10-01 $136,000 (-0.4%) $193,046 (2.9%) 0.44 435
2019-11-01 $142,000 (4.9%) $197,063 (3.3%) 0.47 401
2019-12-01 $140,250 (3.9%) $197,685 (3.8%) 0.47 383
2020-01-01 $129,000 (-4.4%) $195,817 (0.1%) 0.43 357
2020-02-01 $125,000 (-4.9%) $195,712 (-0.2%) 0.41 312
2020-03-01 $148,225 (12.3%) $221,102 (13.4%) 0.46 310
2020-04-01 $156,500 (16.8%) $221,123 (14.4%) 0.49 300
2020-05-01 $189,700 (43.4%) $235,798 (21.4%) 0.58 252
2020-06-01 $193,450 (43.6%) $238,049 (22.1%) 0.57 222
2020-07-01 $158,075 (22.6%) $231,821 (24.1%) 0.46 226
2020-08-01 $159,950 (22.0%) $236,270 (24.8%) 0.46 231
2020-09-01 $157,450 (18.4%) $229,295 (19.9%) 0.45 217
2020-10-01 $159,900 (17.6%) $228,161 (18.2%) 0.46 214
2020-11-01 $151,825 (6.9%) $227,055 (15.2%) 0.44 197
2020-12-01 $144,900 (3.3%) $229,250 (16.0%) 0.43 153
2021-01-01 $129,900 (0.7%) $221,914 (13.3%) 0.39 126
2021-02-01 $122,950 (-1.6%) $202,737 (3.6%) 0.36 117
2021-03-01 $131,533 (-11.3%) $203,222 (-8.1%) 0.37 106
2021-04-01 $145,100 (-7.3%) $202,645 (-8.4%) 0.39 122
2021-05-01 $139,900 (-26.3%) $200,431 (-15.0%) 0.37 136
2021-06-01 $159,700 (-17.5%) $208,175 (-12.6%) 0.42 156
2021-07-01 $159,450 (0.9%) $200,780 (-13.4%) 0.42 195
2021-08-01 $164,250 (2.7%) $215,833 (-8.7%) 0.44 239
2021-09-01 $172,200 (9.4%) $230,120 (0.4%) 0.46 218
2021-10-01 $164,900 (3.1%) $251,311 (10.2%) 0.44 199
2021-11-01 $171,225 (12.8%) $270,043 (18.9%) 0.46 204
2021-12-01 $174,450 (20.4%) $274,377 (19.7%) 0.47 197
2022-01-01 $177,730 (36.8%) $281,617 (26.9%) 0.48 174
2022-02-01 $177,390 (44.3%) $293,723 (44.9%) 0.46 154
2022-03-01 $160,840 (22.3%) $287,990 (41.7%) 0.40 141
2022-04-01 $179,900 (24.0%) $288,747 (42.5%) 0.43 150
2022-05-01 $198,225 (41.7%) $301,841 (50.6%) 0.45 170
2022-06-01 $192,450 (20.5%) $294,522 (41.5%) 0.43 193
2022-07-01 $179,000 (12.3%) $276,024 (37.5%) 0.41 255
2022-08-01 $185,000 (12.6%) $264,662 (22.6%) 0.43 310
2022-09-01 $188,825 (9.7%) $262,945 (14.3%) 0.44 349
2022-10-01 $185,000 (12.2%) $246,003 (-2.1%) 0.44 359
2022-11-01 $190,450 (11.2%) $245,680 (-9.0%) 0.46 382
Wichita Falls's median listing price for 2022-11-01 was $190,450, a difference of $19,225 (11.2%) versus the prior year and $5,450 versus the prior month.

Wichita Falls's median listing price comes in at 46% of the national average.

Wichita Falls's average listing price for 2022-11-01 was $245,680, a difference of $-24,363 (-9.0%) versus the prior year and $-323 versus the prior month.

For the 2022-11-01 period, Wichita Falls had 382 MLS listings, a difference of 23 listings (6%) versus the prior month and 178 listings (87%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Wichita Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 1,630 sqft
2018-02-01 67 days 1,612 sqft
2018-03-01 58 days 1,680 sqft
2018-04-01 53 days 1,740 sqft
2018-05-01 50 days 1,699 sqft
2018-06-01 50 days 1,708 sqft
2018-07-01 52 days 1,745 sqft
2018-08-01 55 days 1,756 sqft
2018-09-01 62 days 1,766 sqft
2018-10-01 65 days 1,786 sqft
2018-11-01 67 days 1,811 sqft
2018-12-01 75 days 1,793 sqft
2019-01-01 82 days 1,794 sqft
2019-02-01 75 days 1,794 sqft
2019-03-01 62 days 1,803 sqft
2019-04-01 46 days 1,787 sqft
2019-05-01 46 days 1,767 sqft
2019-06-01 45 days 1,748 sqft
2019-07-01 40 days 1,707 sqft
2019-08-01 44 days 1,731 sqft
2019-09-01 50 days 1,753 sqft
2019-10-01 54 days 1,767 sqft
2019-11-01 52 days 1,800 sqft
2019-12-01 53 days 1,755 sqft
2020-01-01 60 days 1,730 sqft
2020-02-01 62 days 1,692 sqft
2020-03-01 53 days 1,799 sqft
2020-04-01 63 days 1,824 sqft
2020-05-01 68 days 1,924 sqft
2020-06-01 55 days 1,981 sqft
2020-07-01 42 days 1,859 sqft
2020-08-01 43 days 1,827 sqft
2020-09-01 43 days 1,862 sqft
2020-10-01 41 days 1,825 sqft
2020-11-01 46 days 1,823 sqft
2020-12-01 55 days 1,788 sqft
2021-01-01 54 days 1,706 sqft
2021-02-01 32 days 1,458 sqft
2021-03-01 37 days 1,487 sqft
2021-04-01 18 days 1,661 sqft
2021-05-01 17 days 1,705 sqft
2021-06-01 17 days 1,638 sqft
2021-07-01 22 days 1,568 sqft
2021-08-01 28 days 1,675 sqft
2021-09-01 37 days 1,695 sqft
2021-10-01 36 days 1,652 sqft
2021-11-01 38 days 1,652 sqft
2021-12-01 44 days 1,633 sqft
2022-01-01 51 days 1,659 sqft
2022-02-01 39 days 1,657 sqft
2022-03-01 25 days 1,610 sqft
2022-04-01 24 days 1,673 sqft
2022-05-01 19 days 1,698 sqft
2022-06-01 26 days 1,736 sqft
2022-07-01 25 days 1,573 sqft
2022-08-01 34 days 1,613 sqft
2022-09-01 38 days 1,625 sqft
2022-10-01 45 days 1,608 sqft
2022-11-01 50 days 1,622 sqft
Wichita Falls's median listing age (time on market) for 2022-11-01 was 50 days. This is 31% longer than the same period one year ago.

Wichita Falls's median square footage for active listings during the 2022-11-01 period was 1,622 sqft. One year prior, the average listing was 1,652 sqft.