Wichita USDA Loan Rates, Closing Costs & Stats

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 6% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Wichita's average USDA mortgage closing costs are $4,080.

The average rate for the prior week (2023-01-20) was 6.29% and one month ago for the week of 2022-12-23, the average rate was 6.12%.

The average rate one year ago was 3.67%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.01%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 $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 $206,100 (7.1%) $263,804 (9.5%) 0.67 1,761
2019-04-01 $217,400 (5.6%) $272,169 (8.3%) 0.69 1,746
2019-05-01 $222,875 (8.7%) $279,771 (11.3%) 0.70 1,767
2019-06-01 $219,900 (10.0%) $278,166 (10.3%) 0.69 1,715
2019-07-01 $210,330 (4.7%) $270,547 (4.4%) 0.66 1,766
2019-08-01 $208,473 (4.3%) $268,449 (3.3%) 0.66 1,762
2019-09-01 $209,332 (8.5%) $269,330 (5.7%) 0.67 1,732
2019-10-01 $209,950 (7.7%) $269,918 (6.4%) 0.68 1,712
2019-11-01 $207,900 (12.4%) $267,016 (8.7%) 0.68 1,599
2019-12-01 $199,834 (8.0%) $260,717 (6.8%) 0.67 1,485
2020-01-01 $199,700 (5.9%) $259,356 (5.4%) 0.67 1,393
2020-02-01 $205,000 (2.9%) $268,645 (4.2%) 0.67 1,316
2020-03-01 $215,000 (4.3%) $274,296 (4.0%) 0.67 1,271
2020-04-01 $223,200 (2.7%) $279,963 (2.9%) 0.70 1,241
2020-05-01 $234,900 (5.4%) $286,449 (2.4%) 0.71 1,188
2020-06-01 $248,750 (13.1%) $297,903 (7.1%) 0.73 1,074
2020-07-01 $248,825 (18.3%) $299,352 (10.7%) 0.72 1,013
2020-08-01 $245,000 (17.5%) $298,749 (11.3%) 0.70 1,005
2020-09-01 $229,900 (9.8%) $286,061 (6.2%) 0.66 1,001
2020-10-01 $229,900 (9.5%) $281,660 (4.4%) 0.66 1,050
2020-11-01 $227,625 (9.5%) $278,122 (4.2%) 0.66 1,034
2020-12-01 $220,000 (10.1%) $272,579 (4.6%) 0.65 920
2021-01-01 $224,900 (12.6%) $277,642 (7.1%) 0.67 793
2021-02-01 $244,100 (19.1%) $299,058 (11.3%) 0.71 642
2021-03-01 $241,500 (12.3%) $301,542 (9.9%) 0.69 588
2021-04-01 $239,225 (7.2%) $296,482 (5.9%) 0.65 539
2021-05-01 $235,000 (0.0%) $288,452 (0.7%) 0.62 616
2021-06-01 $224,138 (-9.9%) $285,162 (-4.3%) 0.59 691
2021-07-01 $220,000 (-11.6%) $279,593 (-6.6%) 0.58 791
2021-08-01 $215,000 (-12.2%) $278,200 (-6.9%) 0.57 887
2021-09-01 $207,500 (-9.7%) $275,884 (-3.6%) 0.55 878
2021-10-01 $220,000 (-4.3%) $281,043 (-0.2%) 0.59 878
2021-11-01 $222,559 (-2.2%) $290,342 (4.4%) 0.59 790
2021-12-01 $229,950 (4.5%) $291,771 (7.0%) 0.62 679
2022-01-01 $246,000 (9.4%) $313,027 (12.7%) 0.67 554
2022-02-01 $253,125 (3.7%) $313,896 (5.0%) 0.66 491
2022-03-01 $254,950 (5.6%) $315,175 (4.5%) 0.64 495
2022-04-01 $269,000 (12.5%) $317,932 (7.2%) 0.64 510
2022-05-01 $269,950 (14.9%) $333,491 (15.6%) 0.62 567
2022-06-01 $279,950 (24.9%) $341,316 (19.7%) 0.62 689
2022-07-01 $280,000 (27.3%) $340,747 (21.9%) 0.63 845
2022-08-01 $290,000 (34.9%) $342,747 (23.2%) 0.67 855
2022-09-01 $290,260 (39.9%) $348,464 (26.3%) 0.68 855
2022-10-01 $304,475 (38.4%) $351,813 (25.2%) 0.72 962
2022-11-01 $291,000 (30.8%) $347,895 (19.8%) 0.70 1,036
2022-12-01 $289,000 (25.7%) $347,623 (19.1%) 0.72 962
Wichita's median listing price for 2022-12-01 was $289,000, a difference of $59,050 (25.7%) versus the prior year and $-2,000 versus the prior month.

Wichita's median listing price comes in at 72% of the national average.

Wichita's average listing price for 2022-12-01 was $347,623, a difference of $55,852 (19.1%) versus the prior year and $-272 versus the prior month.

For the 2022-12-01 period, Wichita had 962 MLS listings, a difference of -74 listings (-7%) versus the prior month and 283 listings (42%) 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 59 days 2,134 sqft
2019-04-01 45 days 2,207 sqft
2019-05-01 45 days 2,237 sqft
2019-06-01 47 days 2,264 sqft
2019-07-01 48 days 2,188 sqft
2019-08-01 53 days 2,183 sqft
2019-09-01 60 days 2,210 sqft
2019-10-01 66 days 2,228 sqft
2019-11-01 65 days 2,166 sqft
2019-12-01 73 days 2,110 sqft
2020-01-01 76 days 2,076 sqft
2020-02-01 73 days 2,112 sqft
2020-03-01 66 days 2,117 sqft
2020-04-01 67 days 2,206 sqft
2020-05-01 72 days 2,219 sqft
2020-06-01 67 days 2,253 sqft
2020-07-01 54 days 2,271 sqft
2020-08-01 52 days 2,258 sqft
2020-09-01 54 days 2,200 sqft
2020-10-01 56 days 2,177 sqft
2020-11-01 56 days 2,112 sqft
2020-12-01 63 days 2,049 sqft
2021-01-01 74 days 2,038 sqft
2021-02-01 74 days 2,031 sqft
2021-03-01 75 days 2,006 sqft
2021-04-01 80 days 2,002 sqft
2021-05-01 63 days 2,014 sqft
2021-06-01 45 days 1,975 sqft
2021-07-01 43 days 1,982 sqft
2021-08-01 45 days 1,973 sqft
2021-09-01 54 days 1,940 sqft
2021-10-01 47 days 1,989 sqft
2021-11-01 45 days 1,939 sqft
2021-12-01 52 days 1,898 sqft
2022-01-01 61 days 1,817 sqft
2022-02-01 49 days 1,871 sqft
2022-03-01 38 days 1,910 sqft
2022-04-01 35 days 2,015 sqft
2022-05-01 34 days 2,063 sqft
2022-06-01 33 days 2,116 sqft
2022-07-01 35 days 2,109 sqft
2022-08-01 40 days 2,129 sqft
2022-09-01 45 days 2,108 sqft
2022-10-01 44 days 2,148 sqft
2022-11-01 44 days 2,095 sqft
2022-12-01 64 days 2,082 sqft
Wichita's median listing age (time on market) for 2022-12-01 was 64 days. This is 23% longer than the same period one year ago.

Wichita's median square footage for active listings during the 2022-12-01 period was 2,082 sqft. One year prior, the average listing was 1,898 sqft.