Wichita Falls VA Loans

WICHITA FALLS, TX

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Wichita Falls's 90 lenders originated 821 VA loans during 2021. The total origination value was $175,725,000, with an average VA loan value of $214,038.

    Wichita Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wichita Falls averaged 5.72% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.35% and one month ago for the week of 2022-04-08, the average rate was 5.27%.

    The average rate one year ago was 2.88%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.41%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Wichita Falls VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wichita Falls level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 123 2.82% $5,346
    American National Bank & Trust 74 2.50% $7,286
    QUICKEN LOANS, LLC 44 2.40% $3,582
    FREEDOM MORTGAGE CORPORATION 43 2.44% $2,487
    USAA Federal Savings Bank 41 2.82% $6,870
    UNION SQUARE 38 2.60% $6,847
    Wells Fargo Bank 23 2.53% $3,707
    First Bank & Trust 22 2.89% $6,355
    CALIBER HOME LOANS, INC. 21 2.53% $3,266
    PENNYMAC LOAN SERVICES, LLC 21 2.37% $4,733
    UNITED WHOLESALE MORTGAGE, LLC 16 2.48% $4,242
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 3.15% $6,921
    NAVY FEDERAL CREDIT UNION 15 2.51% $4,546
    PRIMELENDING, A PLAINSCAPITAL COMPANY 11 2.86% $6,134
    NEW DAY FINANCIAL, LLC 11 2.39% $3,277
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.77% $5,583
    LAKEVIEW LOAN SERVICING, LLC 9 2.57% $2,664
    CLEARPATH LENDING 9 2.33% $2,856
    MOVEMENT MORTGAGE, LLC 9 3.00% $6,770
    Barrington Bank & Trust Company, N.A. 8 2.73% $5,618
    First Bank 8 2.80% $4,754
    VILLAGE CAPITAL & INVESTMENT LLC 7 2.54% $1,979
    Flagstar Bank, FSB 7 2.59% $4,962
    HOME POINT FINANCIAL CORPORATION 7 2.30% $4,824
    First National Bank 6 2.69% $9,531
    U.S. Bank 6 2.48% $9,003
    LOANDEPOT.COM, LLC 5 2.55% $4,957
    BROKER SOLUTIONS, INC. 5 2.90% $3,758
    Mr. Cooper ( Nationstar Mortgage ) 5 2.65% $2,548
    Low VA Rates, LLC 4 2.50% $1,728
    AMCAP MORTGAGE, LTD. 3 3.25% $3,447
    KELLER MORTGAGE, LLC 3 2.75% $7,392
    First Guaranty Mortgage Corporation 3 2.63% $3,388
    FLAT BRANCH MORTGAGE, INC. 3 2.88% $7,242
    GUARANTEED RATE, INC. 3 2.96% $6,512
    NEWREZ LLC 3 2.51% $5,879
    PENTAGON FEDERAL CREDIT UNION 2 2.38% $1,165
    AMERISAVE MORTGAGE CORPORATION 2 2.50% $3,662
    Carrington Mortgage Services, LLC 2 3.00% $4,205
    EVERETT FINANCIAL, INC. 2 3.81% $2,016
    Gateway First Bank 2 3.25% $8,780
    GUILD MORTGAGE COMPANY 2 2.94% $4,441
    MID AMERICA MORTGAGE, INC. 2 2.88% $3,006
    PNC Bank 2 2.69% $12,156
    Wyndham Capital Mortgage, Inc. 2 2.56% $8,950
    LENOX FINANCIAL MORTGAGE CORPORATION 1 3.25% $6,012
    HOMESTEAD FUNDING CORP. 1 2.50% $3,199
    LOANPAL, LLC 1 2.25% $3,852
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $7,487
    MICHIGAN MUTUAL, INC. 1 2.88% $12,886
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.38% $4,609
    MORIA DEVELOPMENT, INC. 1 2.75% $6,808
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.63% $5,834
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $7,199
    Goldwater Bank, N.A. 1 3.63% $2,947
    First United Bank and Trust Company 1 3.00% $4,489
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.50% $3,826
    NATIONS DIRECT MORTGAGE, LLC 1 2.38% $6,822
    First United Bank 1 2.88% $11,002
    NBH Bank 1 2.50% $8,753
    NBKC BANK 1 2.25% $2,010
    Network Funding, L.P. 1 3.25% $1,625
    First National Bank Texas 1 3.25% $3,318
    EMBRACE HOME LOANS, INC. 1 2.25% $3,734
    NexBank 1 2.88% $10,581
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.63% $1,999
    CROSSCOUNTRY MORTGAGE, LLC 1 2.25% $4,312
    Core Bank 1 2.75% $4,829
    Peoples Bank 1 3.25% $12,246
    PHH Mortgage Corporation 1 2.88% $3,346
    PILGRIM MORTGAGE LLC 1 1.88% $6,760
    PLANET HOME LENDING, LLC 1 2.25% $3,231
    AMERICAN FINANCIAL NETWORK, INC. 1 2.25% $8,894
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $1,108
    CHURCHILL MORTGAGE CORPORATION 1 2.88% $3,157
    CHERRY CREEK MORTGAGE, LLC 1 3.63% $748
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.63% $5,280
    SFMC, LP 1 3.25% $11,199
    Stifel Bank and Trust 1 2.25% $6,811
    Strong Home Mortgage, LLC 1 2.25% $3,488
    TEXOMA COMMUNITY CREDIT UNION 1 7.75% $3,357
    The Federal Savings Bank 1 2.75% $5,610
    UNION HOME MORTGAGE CORP. 1 2.25% $1,983
    CERTAINTY HOME LOANS, LLC 1 3.63% $3,253
    BNC National Bank 1 2.13% $2,413
    Austin Capital Bank SSB 1 2.25% $2,089
    AmeriHome Mortgage Company, LLC 1 2.99% $1,035
    KS StateBank 1 2.50% $2,533
    INTERCAP LENDING INC. 1 2.75% $570
    LEGEND LENDING CORPORATION 1 3.38% $4,311

    The top Wichita Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 123 VA loans originated. Their average total fees are $5,346, which is $1,940 lower than the next largest lender, American National Bank & Trust.

    The lowest fee Wichita Falls VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,487), CALIBER HOME LOANS, INC. ($3,266), NEW DAY FINANCIAL, LLC ($3,277), QUICKEN LOANS, LLC ($3,582) and Wells Fargo Bank ($3,707).

    The lowest rate Wichita Falls VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.37%), NEW DAY FINANCIAL, LLC (2.39%), QUICKEN LOANS, LLC (2.40%), FREEDOM MORTGAGE CORPORATION (2.44%) and UNITED WHOLESALE MORTGAGE, LLC (2.48%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wichita Falls (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 $110,200 (0.3%) $166,925 (9.0%) 0.41 486
    2018-02-01 $113,500 (3.3%) $167,542 (8.3%) 0.41 487
    2018-03-01 $129,900 (15.2%) $177,925 (13.1%) 0.45 495
    2018-04-01 $134,900 (17.3%) $189,719 (17.6%) 0.45 488
    2018-05-01 $124,950 (8.7%) $186,278 (13.1%) 0.42 506
    2018-06-01 $126,500 (10.1%) $186,534 (13.9%) 0.42 522
    2018-07-01 $136,750 (24.3%) $188,067 (17.1%) 0.46 526
    2018-08-01 $139,900 (33.2%) $191,692 (19.2%) 0.47 532
    2018-09-01 $139,900 (27.2%) $191,777 (14.6%) 0.47 532
    2018-10-01 $139,700 (21.6%) $191,338 (13.2%) 0.47 551
    2018-11-01 $138,500 (20.4%) $194,065 (16.1%) 0.46 545
    2018-12-01 $137,000 (22.3%) $193,903 (16.2%) 0.47 516
    2019-01-01 $137,250 (24.6%) $199,978 (19.8%) 0.47 439
    2019-02-01 $132,450 (16.7%) $198,053 (18.2%) 0.44 416
    2019-03-01 $133,329 (2.6%) $197,258 (10.9%) 0.43 419
    2019-04-01 $137,329 (1.8%) $196,103 (3.4%) 0.43 428
    2019-05-01 $137,400 (10.0%) $196,884 (5.7%) 0.42 428
    2019-06-01 $139,900 (10.6%) $198,307 (6.3%) 0.43 430
    2019-07-01 $129,950 (-5.0%) $190,259 (1.2%) 0.40 483
    2019-08-01 $132,143 (-5.5%) $194,546 (1.5%) 0.42 451
    2019-09-01 $135,450 (-3.2%) $198,322 (3.4%) 0.43 414
    2019-10-01 $139,250 (-0.3%) $196,465 (2.7%) 0.44 434
    2019-11-01 $144,900 (4.6%) $200,075 (3.1%) 0.47 413
    2019-12-01 $141,250 (3.1%) $200,784 (3.6%) 0.47 385
    2020-01-01 $129,950 (-5.3%) $198,763 (-0.6%) 0.43 357
    2020-02-01 $129,900 (-1.9%) $198,862 (0.4%) 0.42 308
    2020-03-01 $155,595 (16.7%) $230,977 (17.1%) 0.49 312
    2020-04-01 $162,400 (18.3%) $230,451 (17.5%) 0.51 302
    2020-05-01 $200,000 (45.6%) $249,650 (26.8%) 0.61 257
    2020-06-01 $214,450 (53.3%) $251,660 (26.9%) 0.63 223
    2020-07-01 $164,500 (26.6%) $244,315 (28.4%) 0.47 226
    2020-08-01 $169,900 (28.6%) $247,452 (27.2%) 0.49 232
    2020-09-01 $159,900 (18.1%) $239,817 (20.9%) 0.46 218
    2020-10-01 $163,500 (17.4%) $237,647 (21.0%) 0.47 212
    2020-11-01 $157,950 (9.0%) $240,582 (20.3%) 0.45 195
    2020-12-01 $148,950 (5.5%) $245,039 (22.0%) 0.44 156
    2021-01-01 $135,900 (4.6%) $240,865 (21.2%) 0.40 129
    2021-02-01 $126,250 (-2.8%) $223,860 (12.6%) 0.36 113
    2021-03-01 $137,400 (-11.7%) $222,885 (-3.5%) 0.39 106
    2021-04-01 $148,000 (-8.9%) $220,019 (-4.5%) 0.40 122
    2021-05-01 $145,900 (-27.1%) $206,936 (-17.1%) 0.38 131
    2021-06-01 $159,900 (-25.4%) $211,983 (-15.8%) 0.42 151
    2021-07-01 $159,900 (-2.8%) $201,622 (-17.5%) 0.42 188
    2021-08-01 $166,348 (-2.1%) $217,249 (-12.2%) 0.44 240
    2021-09-01 $172,200 (7.7%) $232,995 (-2.8%) 0.45 218
    2021-10-01 $169,900 (3.9%) $237,258 (-0.2%) 0.45 204
    2021-11-01 $174,500 (10.5%) $255,438 (6.2%) 0.46 207
    2021-12-01 $182,000 (22.2%) $258,445 (5.5%) 0.49 198
    2022-01-01 $175,560 (29.2%) $261,854 (8.7%) 0.47 178
    2022-02-01 $180,280 (42.8%) $270,617 (20.9%) 0.46 152
    2022-03-01 $158,450 (15.3%) $263,011 (18.0%) 0.39 136
    2022-04-01 $175,000 (18.2%) $278,863 (26.7%) 0.41 146
    Wichita Falls's median listing price for 2022-04-01 was $175,000, a difference of $27,000 (18.2%) versus the prior year and $16,550 versus the prior month.

    Wichita Falls's median listing price comes in at 41% of the national average.

    Wichita Falls's average listing price for 2022-04-01 was $278,863, a difference of $58,844 (26.7%) versus the prior year and $15,852 versus the prior month.

    For the 2022-04-01 period, Wichita Falls had 146 MLS listings, a difference of 10 listings (7%) versus the prior month and 24 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wichita Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,624 sqft
    2018-02-01 67 days 1,612 sqft
    2018-03-01 57 days 1,681 sqft
    2018-04-01 52 days 1,750 sqft
    2018-05-01 49 days 1,706 sqft
    2018-06-01 50 days 1,712 sqft
    2018-07-01 52 days 1,752 sqft
    2018-08-01 55 days 1,766 sqft
    2018-09-01 62 days 1,776 sqft
    2018-10-01 64 days 1,793 sqft
    2018-11-01 67 days 1,818 sqft
    2018-12-01 75 days 1,808 sqft
    2019-01-01 84 days 1,807 sqft
    2019-02-01 75 days 1,806 sqft
    2019-03-01 53 days 1,814 sqft
    2019-04-01 45 days 1,797 sqft
    2019-05-01 44 days 1,781 sqft
    2019-06-01 46 days 1,773 sqft
    2019-07-01 39 days 1,740 sqft
    2019-08-01 46 days 1,774 sqft
    2019-09-01 52 days 1,810 sqft
    2019-10-01 53 days 1,774 sqft
    2019-11-01 49 days 1,818 sqft
    2019-12-01 52 days 1,763 sqft
    2020-01-01 60 days 1,737 sqft
    2020-02-01 60 days 1,696 sqft
    2020-03-01 51 days 1,822 sqft
    2020-04-01 59 days 1,835 sqft
    2020-05-01 66 days 1,963 sqft
    2020-06-01 58 days 2,024 sqft
    2020-07-01 44 days 1,914 sqft
    2020-08-01 43 days 1,882 sqft
    2020-09-01 44 days 1,885 sqft
    2020-10-01 42 days 1,847 sqft
    2020-11-01 46 days 1,852 sqft
    2020-12-01 56 days 1,828 sqft
    2021-01-01 57 days 1,754 sqft
    2021-02-01 43 days 1,517 sqft
    2021-03-01 37 days 1,574 sqft
    2021-04-01 18 days 1,690 sqft
    2021-05-01 18 days 1,706 sqft
    2021-06-01 18 days 1,620 sqft
    2021-07-01 23 days 1,559 sqft
    2021-08-01 28 days 1,656 sqft
    2021-09-01 36 days 1,695 sqft
    2021-10-01 37 days 1,668 sqft
    2021-11-01 37 days 1,686 sqft
    2021-12-01 44 days 1,668 sqft
    2022-01-01 46 days 1,659 sqft
    2022-02-01 44 days 1,677 sqft
    2022-03-01 30 days 1,637 sqft
    2022-04-01 24 days 1,674 sqft
    Wichita Falls's median listing age (time on market) for 2022-04-01 was 24 days. This is 33% longer than the same period one year ago.

    Wichita Falls's median square footage for active listings during the 2022-04-01 period was 1,674 sqft. One year prior, the average listing was 1,690 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.