Wichita Falls VA Loans
WICHITA FALLS, TX
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.