Wichita USDA Loans

WICHITA, KS

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's 40 lenders originated 174 USDA loans during 2021. The total origination value was $25,790,000, with an average USDA loan value of $148,218.

Wichita USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Wichita averaged 5.22% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.41% and one month ago for the week of 2022-04-15, the average rate was 4.8%.

The average rate one year ago was 3.05%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.03%.

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

Wichita USDA Loan Lenders by Rates & Fees

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Sierra Pacific Mortgage Company, Inc. 41 2.89% $4,392
FLAT BRANCH MORTGAGE, INC. 13 3.23% $4,454
Gateway First Bank 10 2.88% $2,271
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.01% $5,725
Flagstar Bank, FSB 9 2.75% $4,355
DELMAR FINANCIAL COMPANY 7 3.18% $3,860
OPEN MORTGAGE, LLC 7 2.91% $4,887
Fidelity Bank 6 2.88% $3,961
Mortgage Investment Services Corporation 5 3.40% $2,672
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.45% $5,046
LEADERONE FINANCIAL CORPORATION 5 3.20% $4,492
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 3.25% $4,593
MID AMERICA MORTGAGE, INC. 4 2.87% $4,354
THRIVE MORTGAGE, LLC 4 2.84% $3,633
BNC National Bank 4 3.06% $4,308
PLANET HOME LENDING, LLC 3 3.38% $4,627
GUILD MORTGAGE COMPANY 3 2.92% $3,943
LOANDEPOT.COM, LLC 3 3.13% $5,720
Members Mortgage Services, L.L.C. 3 3.25% $5,075
Equity Prime Mortgage LLC 3 3.25% $4,198
First Guaranty Mortgage Corporation 2 2.38% $4,580
United Fidelity Funding Corp. 2 3.06% $6,503
PENNYMAC LOAN SERVICES, LLC 2 2.75% $4,199
HOME POINT FINANCIAL CORPORATION 2 2.63% $4,302
Regent Financial Group, Inc. 2 3.00% $6,065
UNITED WHOLESALE MORTGAGE, LLC 1 2.50% $5,132
Bank of England 1 2.25% $5,156
CALIBER HOME LOANS, INC. 1 2.75% $3,656
Colten Mortgage, LLC 1 3.00% $4,500
Firstar Bank 1 2.88% $4,163
FIRST COMMUNITY MORTGAGE, INC. 1 2.63% $7,382
FREEDOM MORTGAGE CORPORATION 1 2.75% $4,181
GUARANTEED RATE, INC. 1 2.88% $4,335
MORTGAGE 1 INCORPORATED 1 3.13% $6,077
NORTHERN MORTGAGE SERVICES, LLC 1 3.50% $1,879
Paramount Residential Mortgage Group, Inc. 1 3.13% $5,338
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $7,058
STEARNS LENDING, LLC 1 2.75% $6,661
Sunflower Bank 1 3.13% $5,892
AMERICAN FINANCIAL NETWORK, INC. 1 3.13% $7,944

The top Wichita USDA lender as defined by loan originations is Sierra Pacific Mortgage Company, Inc., with 41 USDA loans originated. Their average total fees are $4,392, which is $62 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Wichita USDA lenders (with over 10 loans originated) are Gateway First Bank ($2,271), Sierra Pacific Mortgage Company, Inc. ($4,392), FLAT BRANCH MORTGAGE, INC. ($4,454), .

The lowest rate Wichita USDA lenders (with over 10 loans originated) are Gateway First Bank (2.88%), Sierra Pacific Mortgage Company, Inc. (2.89%), FLAT BRANCH MORTGAGE, INC. (3.23%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Wichita (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 $172,000 (4.3%) $226,787 (2.9%) 0.63 1,976
2018-02-01 $179,900 (8.4%) $232,943 (4.7%) 0.65 1,813
2018-03-01 $189,900 (7.3%) $237,229 (3.0%) 0.66 1,772
2018-04-01 $199,950 (9.5%) $249,044 (6.0%) 0.67 1,800
2018-05-01 $200,000 (5.3%) $248,948 (3.3%) 0.67 1,928
2018-06-01 $199,900 (7.2%) $249,778 (4.1%) 0.67 2,046
2018-07-01 $199,918 (8.1%) $256,935 (8.5%) 0.67 2,015
2018-08-01 $199,700 (10.7%) $258,577 (10.3%) 0.67 2,029
2018-09-01 $189,900 (8.5%) $252,124 (10.2%) 0.64 2,092
2018-10-01 $190,000 (11.8%) $251,504 (10.8%) 0.64 2,126
2018-11-01 $184,450 (8.5%) $244,263 (8.3%) 0.62 2,166
2018-12-01 $184,000 (8.2%) $243,188 (7.9%) 0.63 2,040
2019-01-01 $186,750 (8.6%) $243,985 (7.6%) 0.64 1,907
2019-02-01 $195,433 (8.6%) $254,171 (9.1%) 0.65 1,799
2019-03-01 $203,343 (7.1%) $260,821 (9.9%) 0.66 1,741
2019-04-01 $212,500 (6.3%) $269,041 (8.0%) 0.67 1,731
2019-05-01 $219,450 (9.7%) $276,528 (11.1%) 0.68 1,744
2019-06-01 $217,310 (8.7%) $274,381 (9.9%) 0.67 1,709
2019-07-01 $204,950 (2.5%) $265,957 (3.5%) 0.64 1,737
2019-08-01 $199,900 (0.1%) $260,622 (0.8%) 0.63 1,788
2019-09-01 $202,525 (6.7%) $261,898 (3.9%) 0.64 1,759
2019-10-01 $218,500 (15.0%) $273,887 (8.9%) 0.70 1,684
2019-11-01 $209,000 (13.3%) $267,448 (9.5%) 0.67 1,593
2019-12-01 $199,250 (8.3%) $260,468 (7.1%) 0.66 1,501
2020-01-01 $199,400 (6.8%) $260,591 (6.8%) 0.66 1,390
2020-02-01 $207,250 (6.1%) $270,900 (6.6%) 0.67 1,305
2020-03-01 $223,400 (9.9%) $285,863 (9.6%) 0.70 1,248
2020-04-01 $229,900 (8.2%) $289,881 (7.8%) 0.72 1,243
2020-05-01 $246,275 (12.2%) $298,252 (7.9%) 0.75 1,186
2020-06-01 $259,450 (19.4%) $311,805 (13.6%) 0.76 1,057
2020-07-01 $249,900 (21.9%) $302,556 (13.8%) 0.72 993
2020-08-01 $250,000 (25.1%) $305,971 (17.4%) 0.71 974
2020-09-01 $242,000 (19.5%) $302,148 (15.4%) 0.69 956
2020-10-01 $239,900 (9.8%) $296,233 (8.2%) 0.69 1,014
2020-11-01 $236,025 (12.9%) $288,811 (8.0%) 0.68 1,005
2020-12-01 $222,500 (11.7%) $277,138 (6.4%) 0.65 917
2021-01-01 $225,000 (12.8%) $286,119 (9.8%) 0.66 782
2021-02-01 $247,450 (19.4%) $302,500 (11.7%) 0.71 625
2021-03-01 $249,165 (11.5%) $306,704 (7.3%) 0.70 547
2021-04-01 $239,500 (4.2%) $297,100 (2.5%) 0.64 504
2021-05-01 $235,000 (-4.6%) $286,989 (-3.8%) 0.62 571
2021-06-01 $224,950 (-13.3%) $284,647 (-8.7%) 0.58 666
2021-07-01 $219,700 (-12.1%) $279,931 (-7.5%) 0.57 747
2021-08-01 $216,505 (-13.4%) $281,107 (-8.1%) 0.57 850
2021-09-01 $207,500 (-14.3%) $275,197 (-8.9%) 0.55 854
2021-10-01 $220,000 (-8.3%) $283,150 (-4.4%) 0.58 838
2021-11-01 $224,750 (-4.8%) $292,933 (1.4%) 0.59 758
2021-12-01 $229,950 (3.4%) $293,602 (5.9%) 0.61 671
2022-01-01 $247,128 (9.8%) $315,623 (10.3%) 0.66 533
2022-02-01 $252,450 (2.0%) $313,766 (3.7%) 0.64 462
2022-03-01 $254,900 (2.3%) $315,778 (3.0%) 0.63 452
2022-04-01 $265,000 (10.7%) $316,424 (6.5%) 0.62 492
Wichita's median listing price for 2022-04-01 was $265,000, a difference of $25,500 (10.7%) versus the prior year and $10,100 versus the prior month.

Wichita's median listing price comes in at 62% of the national average.

Wichita's average listing price for 2022-04-01 was $316,424, a difference of $19,324 (6.5%) versus the prior year and $646 versus the prior month.

For the 2022-04-01 period, Wichita had 492 MLS listings, a difference of 40 listings (9%) versus the prior month and -12 listings (-2%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Wichita (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 2,094 sqft
2018-02-01 79 days 2,137 sqft
2018-03-01 57 days 2,190 sqft
2018-04-01 49 days 2,251 sqft
2018-05-01 45 days 2,260 sqft
2018-06-01 45 days 2,250 sqft
2018-07-01 52 days 2,262 sqft
2018-08-01 57 days 2,261 sqft
2018-09-01 53 days 2,218 sqft
2018-10-01 57 days 2,203 sqft
2018-11-01 57 days 2,166 sqft
2018-12-01 66 days 2,127 sqft
2019-01-01 76 days 2,115 sqft
2019-02-01 73 days 2,138 sqft
2019-03-01 57 days 2,159 sqft
2019-04-01 47 days 2,215 sqft
2019-05-01 47 days 2,258 sqft
2019-06-01 49 days 2,255 sqft
2019-07-01 50 days 2,216 sqft
2019-08-01 52 days 2,193 sqft
2019-09-01 56 days 2,203 sqft
2019-10-01 58 days 2,257 sqft
2019-11-01 61 days 2,228 sqft
2019-12-01 69 days 2,115 sqft
2020-01-01 75 days 2,083 sqft
2020-02-01 72 days 2,121 sqft
2020-03-01 57 days 2,197 sqft
2020-04-01 58 days 2,241 sqft
2020-05-01 64 days 2,272 sqft
2020-06-01 58 days 2,303 sqft
2020-07-01 54 days 2,295 sqft
2020-08-01 49 days 2,328 sqft
2020-09-01 43 days 2,262 sqft
2020-10-01 42 days 2,231 sqft
2020-11-01 45 days 2,187 sqft
2020-12-01 56 days 2,053 sqft
2021-01-01 60 days 2,048 sqft
2021-02-01 61 days 2,052 sqft
2021-03-01 55 days 2,050 sqft
2021-04-01 51 days 2,029 sqft
2021-05-01 38 days 2,015 sqft
2021-06-01 39 days 1,974 sqft
2021-07-01 38 days 1,995 sqft
2021-08-01 37 days 1,992 sqft
2021-09-01 42 days 1,959 sqft
2021-10-01 42 days 1,982 sqft
2021-11-01 45 days 1,961 sqft
2021-12-01 54 days 1,908 sqft
2022-01-01 66 days 1,869 sqft
2022-02-01 57 days 1,900 sqft
2022-03-01 46 days 1,951 sqft
2022-04-01 37 days 2,015 sqft
Wichita's median listing age (time on market) for 2022-04-01 was 37 days. This is -27% shorter than the same period one year ago.

Wichita's median square footage for active listings during the 2022-04-01 period was 2,015 sqft. One year prior, the average listing was 2,029 sqft.