Wichita USDA Loans

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 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.