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 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 6.21% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

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

The average rate for the prior week (2024-02-23) was 6.56% and one month ago for the week of 2024-01-26, the average rate was 6.12%.

The average rate one year ago was 6.28%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.2%.

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%) $254,635 (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
Wichita's median listing price for 2024-01-01 was $297,000, a difference of $-2,000 (-0.7%) versus the prior year and $2,100 versus the prior month.

Wichita's median listing price comes in at 73% of the national average.

Wichita's average listing price for 2024-01-01 was $368,532, a difference of $10,701 (3.0%) versus the prior year and $7,550 versus the prior month.

For the 2024-01-01 period, Wichita had 1,046 MLS listings, a difference of -116 listings (-10%) versus the prior month and 155 listings (17%) 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
Wichita's median listing age (time on market) for 2024-01-01 was 72 days. This is 7% longer than the same period one year ago.

Wichita's median square footage for active listings during the 2024-01-01 period was 2,015 sqft. One year prior, the average listing was 2,015 sqft.