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 5 lenders originated 9 USDA loans during 2023. The total origination value was $1,395,000, with an average USDA loan value of $155,000.
Wichita Falls USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Wichita Falls
averaged
6.72%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Wichita Falls's average USDA mortgage closing costs are $4,598.
The average rate for the prior week (2024-04-12) was
6.58% and
one month ago for the week of 2024-03-15, the
average rate was 6.56%.
The average rate one year ago was 6.2%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.96%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Cornerstone First Mortgage, Inc | 1 | 7.13% | $6,328 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 5.75% | $3,176 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 6.63% | $5,526 |
| THRIVE MORTGAGE, LLC | 1 | 6.00% | $5,055 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.00% | $10,103 |
The top Wichita Falls USDA lender as defined by loan originations is Cornerstone First Mortgage, Inc, with
1 USDA loans originated. Their average total fees are
$6,328, which is $3,152
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
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 (8.4%) | 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%) | $194,317 (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 | $159,950 (-17.3%) | $208,543 (-12.4%) | 0.42 | 155 |
| 2021-07-01 | $159,900 (1.2%) | $200,780 (-13.4%) | 0.42 | 195 |
| 2021-08-01 | $164,600 (2.9%) | $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 | $175,560 (35.2%) | $281,617 (26.9%) | 0.47 | 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 (20.3%) | $294,522 (41.2%) | 0.43 | 193 |
| 2022-07-01 | $179,000 (11.9%) | $276,024 (37.5%) | 0.40 | 255 |
| 2022-08-01 | $185,000 (12.4%) | $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 |
| 2022-12-01 | $199,900 (14.6%) | $247,116 (-9.9%) | 0.49 | 363 |
| 2023-01-01 | $199,900 (13.9%) | $237,512 (-15.7%) | 0.50 | 332 |
| 2023-02-01 | $202,450 (14.1%) | $239,003 (-18.6%) | 0.49 | 301 |
| 2023-03-01 | $206,000 (28.1%) | $243,942 (-15.3%) | 0.49 | 257 |
| 2023-04-01 | $205,000 (14.0%) | $245,607 (-14.9%) | 0.48 | 248 |
| 2023-05-01 | $216,675 (9.3%) | $263,575 (-12.7%) | 0.49 | 264 |
| 2023-06-01 | $227,000 (18.0%) | $270,094 (-8.3%) | 0.51 | 301 |
| 2023-07-01 | $220,000 (22.9%) | $267,074 (-3.2%) | 0.50 | 307 |
| 2023-08-01 | $221,725 (19.9%) | $265,946 (0.5%) | 0.51 | 342 |
| 2023-09-01 | $235,000 (24.5%) | $269,109 (2.3%) | 0.55 | 362 |
| 2023-10-01 | $229,575 (24.1%) | $266,546 (8.4%) | 0.54 | 414 |
| 2023-11-01 | $225,000 (18.1%) | $275,371 (12.1%) | 0.54 | 427 |
| 2023-12-01 | $207,000 (3.6%) | $256,754 (3.9%) | 0.50 | 432 |
| 2024-01-01 | $210,000 (5.1%) | $264,656 (11.4%) | 0.51 | 435 |
| 2024-02-01 | $214,625 (6.0%) | $265,935 (11.3%) | 0.52 | 444 |
| 2024-03-01 | $219,900 (6.8%) | $267,660 (9.7%) | 0.52 | 472 |
Wichita Falls's median listing price comes in at 52% of the national average.
Wichita Falls's average listing price for 2024-03-01 was $267,660, a difference of $23,718 (9.7%) versus the prior year and $1,725 versus the prior month.
For the 2024-03-01 period, Wichita Falls had 472 MLS listings, a difference of 28 listings (6%) versus the prior month and 215 listings (84%) 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 | 74 days | 1,630 sqft |
| 2018-02-01 | 59 days | 1,612 sqft |
| 2018-03-01 | 51 days | 1,680 sqft |
| 2018-04-01 | 47 days | 1,740 sqft |
| 2018-05-01 | 44 days | 1,699 sqft |
| 2018-06-01 | 44 days | 1,708 sqft |
| 2018-07-01 | 47 days | 1,745 sqft |
| 2018-08-01 | 50 days | 1,756 sqft |
| 2018-09-01 | 57 days | 1,766 sqft |
| 2018-10-01 | 58 days | 1,786 sqft |
| 2018-11-01 | 60 days | 1,811 sqft |
| 2018-12-01 | 68 days | 1,793 sqft |
| 2019-01-01 | 77 days | 1,794 sqft |
| 2019-02-01 | 67 days | 1,794 sqft |
| 2019-03-01 | 52 days | 1,803 sqft |
| 2019-04-01 | 43 days | 1,787 sqft |
| 2019-05-01 | 44 days | 1,767 sqft |
| 2019-06-01 | 43 days | 1,748 sqft |
| 2019-07-01 | 38 days | 1,707 sqft |
| 2019-08-01 | 42 days | 1,731 sqft |
| 2019-09-01 | 48 days | 1,753 sqft |
| 2019-10-01 | 51 days | 1,767 sqft |
| 2019-11-01 | 50 days | 1,800 sqft |
| 2019-12-01 | 51 days | 1,755 sqft |
| 2020-01-01 | 58 days | 1,730 sqft |
| 2020-02-01 | 60 days | 1,692 sqft |
| 2020-03-01 | 51 days | 1,799 sqft |
| 2020-04-01 | 61 days | 1,824 sqft |
| 2020-05-01 | 65 days | 1,924 sqft |
| 2020-06-01 | 52 days | 1,981 sqft |
| 2020-07-01 | 40 days | 1,859 sqft |
| 2020-08-01 | 40 days | 1,827 sqft |
| 2020-09-01 | 40 days | 1,862 sqft |
| 2020-10-01 | 39 days | 1,825 sqft |
| 2020-11-01 | 45 days | 1,823 sqft |
| 2020-12-01 | 53 days | 1,788 sqft |
| 2021-01-01 | 52 days | 1,706 sqft |
| 2021-02-01 | 31 days | 1,458 sqft |
| 2021-03-01 | 32 days | 1,487 sqft |
| 2021-04-01 | 16 days | 1,661 sqft |
| 2021-05-01 | 16 days | 1,705 sqft |
| 2021-06-01 | 17 days | 1,647 sqft |
| 2021-07-01 | 22 days | 1,570 sqft |
| 2021-08-01 | 27 days | 1,682 sqft |
| 2021-09-01 | 36 days | 1,695 sqft |
| 2021-10-01 | 33 days | 1,652 sqft |
| 2021-11-01 | 37 days | 1,652 sqft |
| 2021-12-01 | 44 days | 1,633 sqft |
| 2022-01-01 | 47 days | 1,659 sqft |
| 2022-02-01 | 38 days | 1,657 sqft |
| 2022-03-01 | 23 days | 1,610 sqft |
| 2022-04-01 | 24 days | 1,673 sqft |
| 2022-05-01 | 18 days | 1,698 sqft |
| 2022-06-01 | 25 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 | 49 days | 1,622 sqft |
| 2022-12-01 | 62 days | 1,626 sqft |
| 2023-01-01 | 65 days | 1,626 sqft |
| 2023-02-01 | 58 days | 1,677 sqft |
| 2023-03-01 | 44 days | 1,680 sqft |
| 2023-04-01 | 42 days | 1,715 sqft |
| 2023-05-01 | 34 days | 1,731 sqft |
| 2023-06-01 | 36 days | 1,737 sqft |
| 2023-07-01 | 38 days | 1,728 sqft |
| 2023-08-01 | 38 days | 1,729 sqft |
| 2023-09-01 | 44 days | 1,733 sqft |
| 2023-10-01 | 49 days | 1,721 sqft |
| 2023-11-01 | 51 days | 1,714 sqft |
| 2023-12-01 | 62 days | 1,640 sqft |
| 2024-01-01 | 66 days | 1,658 sqft |
| 2024-02-01 | 63 days | 1,663 sqft |
| 2024-03-01 | 52 days | 1,693 sqft |
Wichita Falls's median square footage for active listings during the 2024-03-01 period was 1,693 sqft. One year prior, the average listing was 1,680 sqft.