Wichita USDA Loan Rates, Closing Costs & Stats

WICHITA, KS

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 30 lenders originated 74 USDA loans during 2023. The total origination value was $11,660,000, with an average USDA loan value of $157,568.

    Wichita USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Wichita averaged 7.02% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Wichita's average USDA mortgage closing costs are $4,338.

    The average rate for the prior week (2024-04-12) was 6.57% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.59%.

    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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wichita level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Sierra Pacific Mortgage Company, Inc. 16 6.57% $6,275
    FLAT BRANCH MORTGAGE, INC. 7 6.84% $6,005
    Plains Commerce Bank 5 6.58% $8,929
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.55% $6,381
    Members Mortgage Services, L.L.C. 4 6.56% $4,386
    NEWREZ LLC 3 7.04% $5,451
    Gateway First Bank 3 7.25% $3,891
    Fidelity Bank 2 6.88% $6,161
    OPEN MORTGAGE, LLC 2 6.56% $5,603
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.81% $3,690
    LEADERONE FINANCIAL CORPORATION 2 6.44% $8,696
    LOANDEPOT.COM, LLC 2 7.00% $6,983
    Flagstar Bank, FSB 2 6.81% $4,121
    The Central Trust Bank 1 5.63% $6,198
    United Fidelity Funding Corp. 1 6.25% $4,041
    UNITED WHOLESALE MORTGAGE, LLC 1 6.63% $5,880
    ACADEMY MORTGAGE CORPORATION 1 6.25% $10,655
    US MORTGAGE CORPORATION 1 6.50% $10,494
    Barrington Bank & Trust Company, N.A. 1 7.25% $6,187
    BROKER SOLUTIONS, INC. 1 6.75% $9,126
    Equity Bank 1 5.38% $5,829
    Equity Prime Mortgage LLC 1 6.75% $3,759
    FREEDOM MORTGAGE CORPORATION 1 7.63% $6,532
    HOMESIDE FINANCIAL, LLC 1 6.75% $4,545
    Mortgage Investment Services Corporation 1 7.25% $3,837
    Mortgage Research Center, LLC 1 6.63% $2,777
    Neighborhood Loans, Inc. 1 6.99% $4,733
    Paramount Residential Mortgage Group, Inc. 1 6.50% $4,582
    PLANET HOME LENDING, LLC 1 6.63% $4,564
    Regent Financial Group, Inc. 1 7.13% $4,459

    The top Wichita USDA lender as defined by loan originations is Sierra Pacific Mortgage Company, Inc., with 16 USDA loans originated. Their average total fees are $6,275, which is $270 higher than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Wichita USDA lenders (with over 10 loans originated) are Sierra Pacific Mortgage Company, Inc. ($6,275), .

    The lowest rate Wichita USDA lenders (with over 10 loans originated) are Sierra Pacific Mortgage Company, Inc. (6.57%), .

    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 $174,900 (6.5%) $226,176 (3.6%) 0.65 1,965
    2018-02-01 $182,817 (9.2%) $234,420 (5.9%) 0.66 1,814
    2018-03-01 $192,500 (8.5%) $240,838 (5.6%) 0.68 1,790
    2018-04-01 $205,950 (11.4%) $251,315 (8.2%) 0.70 1,829
    2018-05-01 $205,000 (6.8%) $251,278 (5.1%) 0.68 1,964
    2018-06-01 $199,918 (5.3%) $252,181 (5.5%) 0.67 2,060
    2018-07-01 $200,813 (8.5%) $259,275 (9.8%) 0.67 2,040
    2018-08-01 $199,909 (9.6%) $259,770 (11.4%) 0.67 2,034
    2018-09-01 $192,900 (8.7%) $254,635 (11.7%) 0.65 2,084
    2018-10-01 $194,900 (12.8%) $253,801 (12.0%) 0.66 2,151
    2018-11-01 $185,000 (6.5%) $245,696 (9.2%) 0.63 2,145
    2018-12-01 $185,000 (7.3%) $244,024 (8.8%) 0.64 2,005
    2019-01-01 $188,588 (7.8%) $246,159 (8.8%) 0.65 1,878
    2019-02-01 $199,250 (9.0%) $257,751 (10.0%) 0.67 1,791
    2019-03-01 $206,100 (7.1%) $273,099 (13.4%) 0.67 1,761
    2019-04-01 $217,400 (5.6%) $281,186 (11.9%) 0.69 1,745
    2019-05-01 $222,875 (8.7%) $279,919 (11.4%) 0.70 1,763
    2019-06-01 $219,900 (10.0%) $278,135 (10.3%) 0.69 1,711
    2019-07-01 $209,950 (4.6%) $270,477 (4.3%) 0.66 1,761
    2019-08-01 $208,236 (4.2%) $268,351 (3.3%) 0.66 1,757
    2019-09-01 $209,228 (8.5%) $269,233 (5.7%) 0.67 1,727
    2019-10-01 $209,890 (7.7%) $269,821 (6.3%) 0.68 1,707
    2019-11-01 $207,650 (12.2%) $266,908 (8.6%) 0.68 1,594
    2019-12-01 $199,700 (8.0%) $260,578 (6.8%) 0.67 1,480
    2020-01-01 $199,469 (5.8%) $259,201 (5.3%) 0.67 1,388
    2020-02-01 $204,925 (2.9%) $268,510 (4.2%) 0.67 1,311
    2020-03-01 $212,375 (3.0%) $274,182 (0.4%) 0.67 1,266
    2020-04-01 $222,800 (2.5%) $279,870 (-0.5%) 0.70 1,236
    2020-05-01 $234,900 (5.4%) $286,376 (2.3%) 0.71 1,183
    2020-06-01 $248,350 (12.9%) $297,870 (7.1%) 0.73 1,069
    2020-07-01 $248,400 (18.3%) $299,324 (10.7%) 0.72 1,008
    2020-08-01 $245,000 (17.7%) $298,717 (11.3%) 0.70 1,000
    2020-09-01 $229,900 (9.9%) $285,977 (6.2%) 0.66 996
    2020-10-01 $229,900 (9.5%) $281,562 (4.4%) 0.66 1,045
    2020-11-01 $226,300 (9.0%) $278,005 (4.2%) 0.66 1,029
    2020-12-01 $220,000 (10.2%) $272,428 (4.6%) 0.65 915
    2021-01-01 $224,538 (12.6%) $277,484 (7.1%) 0.67 788
    2021-02-01 $243,076 (18.6%) $299,011 (11.4%) 0.71 637
    2021-03-01 $239,950 (13.0%) $301,509 (10.0%) 0.68 583
    2021-04-01 $239,000 (7.3%) $296,411 (5.9%) 0.65 534
    2021-05-01 $235,000 (0.0%) $288,391 (0.7%) 0.62 611
    2021-06-01 $223,463 (-10.0%) $285,072 (-4.3%) 0.59 686
    2021-07-01 $220,000 (-11.4%) $279,508 (-6.6%) 0.58 786
    2021-08-01 $215,000 (-12.2%) $278,071 (-6.9%) 0.57 882
    2021-09-01 $207,125 (-9.9%) $275,800 (-3.6%) 0.55 873
    2021-10-01 $220,000 (-4.3%) $280,920 (-0.2%) 0.59 873
    2021-11-01 $222,475 (-1.7%) $290,260 (4.4%) 0.59 785
    2021-12-01 $229,950 (4.5%) $291,896 (7.2%) 0.62 675
    2022-01-01 $244,965 (9.1%) $312,108 (12.5%) 0.66 550
    2022-02-01 $252,450 (3.9%) $313,959 (5.0%) 0.66 486
    2022-03-01 $254,900 (6.2%) $315,249 (4.6%) 0.64 490
    2022-04-01 $268,500 (12.3%) $318,018 (7.3%) 0.64 505
    2022-05-01 $269,950 (14.9%) $333,680 (15.7%) 0.62 562
    2022-06-01 $277,475 (24.2%) $341,232 (19.7%) 0.62 685
    2022-07-01 $280,000 (27.3%) $340,658 (21.9%) 0.63 840
    2022-08-01 $290,000 (34.9%) $342,925 (23.3%) 0.67 850
    2022-09-01 $290,130 (40.1%) $348,670 (26.4%) 0.68 850
    2022-10-01 $303,950 (38.2%) $352,023 (25.3%) 0.72 957
    2022-11-01 $290,000 (30.4%) $348,076 (19.9%) 0.70 1,031
    2022-12-01 $289,900 (26.1%) $349,198 (19.6%) 0.72 944
    2023-01-01 $299,000 (22.1%) $357,831 (14.7%) 0.74 891
    2023-02-01 $319,995 (26.8%) $365,473 (16.4%) 0.77 858
    2023-03-01 $319,621 (25.4%) $371,358 (17.8%) 0.75 879
    2023-04-01 $318,394 (18.6%) $372,478 (17.1%) 0.74 884
    2023-05-01 $320,000 (18.5%) $374,826 (12.3%) 0.73 898
    2023-06-01 $315,657 (13.8%) $373,542 (9.5%) 0.71 1,003
    2023-07-01 $300,850 (7.5%) $366,674 (7.6%) 0.68 1,028
    2023-08-01 $299,000 (3.1%) $356,654 (4.0%) 0.69 1,066
    2023-09-01 $299,000 (3.1%) $352,588 (1.1%) 0.70 1,167
    2023-10-01 $298,950 (-1.7%) $354,662 (0.8%) 0.70 1,238
    2023-11-01 $294,575 (1.6%) $355,842 (2.2%) 0.70 1,268
    2023-12-01 $294,900 (1.7%) $360,982 (3.4%) 0.72 1,162
    2024-01-01 $297,000 (-0.7%) $368,532 (3.0%) 0.73 1,046
    2024-02-01 $302,450 (-5.5%) $373,271 (2.1%) 0.73 1,015
    2024-03-01 $325,000 (1.7%) $377,793 (1.7%) 0.76 1,039
    Wichita's median listing price for 2024-03-01 was $325,000, a difference of $5,379 (1.7%) versus the prior year and $22,550 versus the prior month.

    Wichita's median listing price comes in at 76% of the national average.

    Wichita's average listing price for 2024-03-01 was $377,793, a difference of $6,435 (1.7%) versus the prior year and $4,522 versus the prior month.

    For the 2024-03-01 period, Wichita had 1,039 MLS listings, a difference of 24 listings (2%) versus the prior month and 160 listings (18%) 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 71 days 2,079 sqft
    2018-02-01 69 days 2,114 sqft
    2018-03-01 47 days 2,168 sqft
    2018-04-01 43 days 2,205 sqft
    2018-05-01 40 days 2,248 sqft
    2018-06-01 43 days 2,237 sqft
    2018-07-01 48 days 2,243 sqft
    2018-08-01 51 days 2,244 sqft
    2018-09-01 47 days 2,211 sqft
    2018-10-01 51 days 2,181 sqft
    2018-11-01 52 days 2,159 sqft
    2018-12-01 63 days 2,109 sqft
    2019-01-01 72 days 2,113 sqft
    2019-02-01 66 days 2,116 sqft
    2019-03-01 56 days 2,134 sqft
    2019-04-01 44 days 2,207 sqft
    2019-05-01 43 days 2,237 sqft
    2019-06-01 44 days 2,264 sqft
    2019-07-01 45 days 2,188 sqft
    2019-08-01 49 days 2,179 sqft
    2019-09-01 56 days 2,208 sqft
    2019-10-01 61 days 2,226 sqft
    2019-11-01 60 days 2,162 sqft
    2019-12-01 68 days 2,107 sqft
    2020-01-01 70 days 2,074 sqft
    2020-02-01 65 days 2,112 sqft
    2020-03-01 60 days 2,114 sqft
    2020-04-01 61 days 2,202 sqft
    2020-05-01 66 days 2,213 sqft
    2020-06-01 59 days 2,249 sqft
    2020-07-01 49 days 2,270 sqft
    2020-08-01 48 days 2,258 sqft
    2020-09-01 47 days 2,198 sqft
    2020-10-01 50 days 2,176 sqft
    2020-11-01 51 days 2,106 sqft
    2020-12-01 59 days 2,048 sqft
    2021-01-01 71 days 2,036 sqft
    2021-02-01 64 days 2,028 sqft
    2021-03-01 65 days 2,002 sqft
    2021-04-01 70 days 1,996 sqft
    2021-05-01 51 days 2,012 sqft
    2021-06-01 42 days 1,973 sqft
    2021-07-01 40 days 1,977 sqft
    2021-08-01 42 days 1,966 sqft
    2021-09-01 50 days 1,935 sqft
    2021-10-01 44 days 1,986 sqft
    2021-11-01 43 days 1,932 sqft
    2021-12-01 51 days 1,891 sqft
    2022-01-01 58 days 1,817 sqft
    2022-02-01 43 days 1,863 sqft
    2022-03-01 37 days 1,905 sqft
    2022-04-01 34 days 2,015 sqft
    2022-05-01 33 days 2,052 sqft
    2022-06-01 32 days 2,110 sqft
    2022-07-01 34 days 2,105 sqft
    2022-08-01 40 days 2,124 sqft
    2022-09-01 43 days 2,104 sqft
    2022-10-01 42 days 2,146 sqft
    2022-11-01 42 days 2,094 sqft
    2022-12-01 59 days 2,078 sqft
    2023-01-01 67 days 2,015 sqft
    2023-02-01 56 days 2,016 sqft
    2023-03-01 48 days 2,023 sqft
    2023-04-01 44 days 2,015 sqft
    2023-05-01 44 days 2,061 sqft
    2023-06-01 38 days 2,069 sqft
    2023-07-01 40 days 2,061 sqft
    2023-08-01 42 days 2,016 sqft
    2023-09-01 43 days 2,028 sqft
    2023-10-01 44 days 2,050 sqft
    2023-11-01 46 days 2,057 sqft
    2023-12-01 58 days 2,040 sqft
    2024-01-01 72 days 2,015 sqft
    2024-02-01 69 days 2,043 sqft
    2024-03-01 42 days 2,043 sqft
    Wichita's median listing age (time on market) for 2024-03-01 was 42 days. This is -13% shorter than the same period one year ago.

    Wichita's median square footage for active listings during the 2024-03-01 period was 2,043 sqft. One year prior, the average listing was 2,023 sqft.