Wichita USDA Loan Rates, Closing Costs & Stats

WICHITA, KS

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    • 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 28 lenders originated 80 USDA loans during 2022. The total origination value was $11,600,000, with an average USDA loan value of $145,000.

    Wichita USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Wichita averaged 6.51% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Wichita's average USDA mortgage closing costs are $4,176.

    The average rate for the prior week (2023-05-19) was 6.35% and one month ago for the week of 2023-04-21, the average rate was 6.26%.

    The average rate one year ago was 4.78%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.4%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Sierra Pacific Mortgage Company, Inc. 9 5.50% $5,334
    FLAT BRANCH MORTGAGE, INC. 9 5.18% $5,756
    Flagstar Bank, FSB 8 3.97% $3,558
    Fidelity Bank 6 3.73% $4,240
    HOME POINT FINANCIAL CORPORATION 6 4.31% $5,364
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.88% $5,981
    LEADERONE FINANCIAL CORPORATION 5 5.60% $7,170
    Gateway First Bank 4 5.53% $2,179
    PLANET HOME LENDING, LLC 3 4.33% $5,406
    DELMAR FINANCIAL COMPANY 3 4.67% $4,732
    EVERETT FINANCIAL, INC. 2 3.56% $3,347
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,803
    Plains Commerce Bank 1 5.49% $9,548
    PLAZA HOME MORTGAGE, INC. 1 5.13% $6,062
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.25% $4,778
    RCB Bank 1 6.13% $4,842
    BNC National Bank 1 3.25% $4,057
    US MORTGAGE CORPORATION 1 4.50% $6,083
    DAS Acquisition Company, LLC 1 4.50% $7,557
    FBC MORTGAGE, LLC 1 6.25% $5,357
    GENEVA FINANCIAL, LLC 1 5.63% $6,953
    GSF Mortgage Corporation 1 5.63% $8,044
    Ixonia Bank 1 3.25% $5,114
    LOANDEPOT.COM, LLC 1 4.38% $3,917
    Members Mortgage Services, L.L.C. 1 4.13% $1,945
    Mortgage Investment Services Corporation 1 4.00% $2,318
    NBH Bank 1 3.38% $2,959
    OPEN MORTGAGE, LLC 1 3.63% $6,221

    The top Wichita USDA lender as defined by loan originations is Sierra Pacific Mortgage Company, Inc., with 9 USDA loans originated. Their average total fees are $5,334, which is $422 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

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

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

    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%) $254,726 (11.7%) 0.65 2,084
    2018-10-01 $194,900 (12.9%) $253,801 (12.0%) 0.66 2,151
    2018-11-01 $185,000 (6.5%) $245,696 (9.3%) 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 $206,500 (7.3%) $260,842 (8.3%) 0.69 1,722
    2019-04-01 $217,400 (5.6%) $272,150 (8.3%) 0.69 1,742
    2019-05-01 $222,750 (8.7%) $279,802 (11.4%) 0.70 1,764
    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 $219,500 (9.8%) $276,843 (6.6%) 0.69 1,758
    2019-09-01 $227,475 (17.9%) $282,563 (10.9%) 0.72 1,625
    2019-10-01 $209,850 (7.7%) $268,843 (5.9%) 0.68 1,712
    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 (2.9%) $274,182 (5.1%) 0.67 1,266
    2020-04-01 $222,800 (2.5%) $279,870 (2.8%) 0.70 1,236
    2020-05-01 $234,900 (5.5%) $286,376 (2.4%) 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 (11.6%) $298,717 (7.9%) 0.70 1,000
    2020-09-01 $229,900 (1.1%) $285,977 (1.2%) 0.66 996
    2020-10-01 $229,900 (9.6%) $281,562 (4.7%) 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%) $372,722 (17.2%) 0.74 884
    Wichita's median listing price for 2023-04-01 was $318,394, a difference of $49,894 (18.6%) versus the prior year and $-1,227 versus the prior month.

    Wichita's median listing price comes in at 74% of the national average.

    Wichita's average listing price for 2023-04-01 was $372,722, a difference of $54,704 (17.2%) versus the prior year and $1,364 versus the prior month.

    For the 2023-04-01 period, Wichita had 884 MLS listings, a difference of 5 listings (1%) versus the prior month and 379 listings (75%) 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 74 days 2,079 sqft
    2018-02-01 74 days 2,114 sqft
    2018-03-01 52 days 2,168 sqft
    2018-04-01 45 days 2,205 sqft
    2018-05-01 43 days 2,248 sqft
    2018-06-01 44 days 2,237 sqft
    2018-07-01 51 days 2,243 sqft
    2018-08-01 54 days 2,244 sqft
    2018-09-01 50 days 2,211 sqft
    2018-10-01 54 days 2,181 sqft
    2018-11-01 55 days 2,159 sqft
    2018-12-01 65 days 2,105 sqft
    2019-01-01 75 days 2,112 sqft
    2019-02-01 71 days 2,116 sqft
    2019-03-01 54 days 2,163 sqft
    2019-04-01 44 days 2,207 sqft
    2019-05-01 45 days 2,235 sqft
    2019-06-01 47 days 2,261 sqft
    2019-07-01 47 days 2,186 sqft
    2019-08-01 62 days 2,249 sqft
    2019-09-01 71 days 2,311 sqft
    2019-10-01 67 days 2,228 sqft
    2019-11-01 65 days 2,162 sqft
    2019-12-01 72 days 2,107 sqft
    2020-01-01 76 days 2,074 sqft
    2020-02-01 73 days 2,112 sqft
    2020-03-01 65 days 2,115 sqft
    2020-04-01 67 days 2,202 sqft
    2020-05-01 72 days 2,213 sqft
    2020-06-01 65 days 2,250 sqft
    2020-07-01 54 days 2,270 sqft
    2020-08-01 52 days 2,258 sqft
    2020-09-01 53 days 2,198 sqft
    2020-10-01 56 days 2,176 sqft
    2020-11-01 56 days 2,106 sqft
    2020-12-01 63 days 2,048 sqft
    2021-01-01 74 days 2,036 sqft
    2021-02-01 74 days 2,028 sqft
    2021-03-01 74 days 2,002 sqft
    2021-04-01 77 days 1,996 sqft
    2021-05-01 61 days 2,012 sqft
    2021-06-01 44 days 1,973 sqft
    2021-07-01 43 days 1,977 sqft
    2021-08-01 45 days 1,966 sqft
    2021-09-01 53 days 1,935 sqft
    2021-10-01 47 days 1,986 sqft
    2021-11-01 44 days 1,932 sqft
    2021-12-01 52 days 1,891 sqft
    2022-01-01 60 days 1,817 sqft
    2022-02-01 47 days 1,863 sqft
    2022-03-01 38 days 1,905 sqft
    2022-04-01 35 days 2,015 sqft
    2022-05-01 34 days 2,052 sqft
    2022-06-01 33 days 2,110 sqft
    2022-07-01 35 days 2,105 sqft
    2022-08-01 40 days 2,124 sqft
    2022-09-01 45 days 2,104 sqft
    2022-10-01 44 days 2,146 sqft
    2022-11-01 44 days 2,094 sqft
    2022-12-01 63 days 2,078 sqft
    2023-01-01 73 days 2,015 sqft
    2023-02-01 63 days 2,016 sqft
    2023-03-01 53 days 2,023 sqft
    2023-04-01 49 days 2,015 sqft
    Wichita's median listing age (time on market) for 2023-04-01 was 49 days. This is 40% longer than the same period one year ago.

    Wichita's median square footage for active listings during the 2023-04-01 period was 2,015 sqft. One year prior, the average listing was 2,015 sqft.