Wichita Falls VA Loan Rates, Closing Costs & Stats

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 not 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 57 lenders originated 431 VA loans during 2023. The total origination value was $108,415,000, with an average VA loan value of $251,543.

Wichita Falls VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Wichita Falls averaged 6.59% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Wichita Falls's average VA mortgage closing costs are $5,846.

The average rate for the prior week (2024-05-10) was 6.8% and one month ago for the week of 2024-04-12, the average rate was 6.78%.

The average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.7%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wichita Falls level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 89 6.64% $5,927
FLAT BRANCH MORTGAGE, INC. 49 6.47% $8,457
American National Bank & Trust 37 6.18% $8,245
PRIMELENDING, A PLAINSCAPITAL COMPANY 32 6.62% $5,264
USAA Federal Savings Bank 28 6.13% $8,582
NAVY FEDERAL CREDIT UNION 24 5.78% $6,153
UNION SQUARE 13 6.93% $7,546
CARDINAL FINANCIAL 10 6.34% $10,060
UNITED WHOLESALE MORTGAGE, LLC 8 5.70% $8,833
First Bank 8 6.30% $7,061
GUARANTEED RATE, INC. 7 6.92% $9,030
CMG MORTGAGE, INC. 7 6.27% $11,894
AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.40% $11,987
Paramount Residential Mortgage Group, Inc. 6 6.23% $8,864
THRIVE MORTGAGE, LLC 6 6.90% $7,536
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.33% $9,283
MOVEMENT MORTGAGE, LLC 5 6.23% $9,182
BROKER SOLUTIONS, INC. 5 6.73% $9,389
GUILD MORTGAGE COMPANY 4 6.25% $9,347
QUICKEN LOANS, LLC 4 6.09% $7,301
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.58% $2,467
FREEDOM MORTGAGE CORPORATION 3 6.29% $15,181
NBKC BANK 3 5.33% $11,093
Armed Forces Bank 3 6.13% $9,174
Mr. Cooper ( Nationstar Mortgage ) 3 6.17% $15,641
PENTAGON FEDERAL CREDIT UNION 2 6.06% $19,883
AXIA FINANCIAL, LLC 2 6.00% $13,355
CROSSCOUNTRY MORTGAGE, LLC 2 6.00% $8,681
Equity Prime Mortgage LLC 2 7.69% $6,697
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.00% $6,142
Flagstar Bank, FSB 2 5.50% $16,856
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.41% $10,943
PENNYMAC LOAN SERVICES, LLC 2 5.75% $9,099
Regions Bank 2 6.19% $9,272
The Federal Savings Bank 2 6.69% $11,530
UNION HOME MORTGAGE CORP. 2 6.13% $9,244
NBH Bank 1 7.13% $1,078
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $8,304
Network Funding, L.P. 1 7.63% $1,534
Paramount Bank 1 7.50% $11,084
EVERETT FINANCIAL, INC. 1 6.38% $19,558
AMERISAVE MORTGAGE CORPORATION 1 5.75% $5,679
AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $11,490
EMBRACE HOME LOANS, INC. 1 5.63% $6,034
DAS Acquisition Company, LLC 1 6.75% $13,816
AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $8,828
SFMC, LP 1 6.38% $11,023
SUCCESS MORTGAGE PARTNERS, INC. 1 6.25% $10,094
SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $3,650
VAN DYK MORTGAGE CORPORATION 1 6.63% $5,872
CHURCHILL MORTGAGE CORPORATION 1 6.25% $9,202
Wells Fargo Bank 1 6.63% $0
Barrington Bank & Trust Company, N.A. 1 7.25% $3,539
MORIA DEVELOPMENT, INC. 1 6.63% $13,195
Mid-Continent Funding, Inc. 1 5.88% $9,898
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $14,999
KeyBank 1 6.25% $13,381

The top Wichita Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 89 VA loans originated. Their average total fees are $5,927, which is $2,530 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Wichita Falls VA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,264), Mortgage Research Center, LLC ($5,927), NAVY FEDERAL CREDIT UNION ($6,153), UNION SQUARE ($7,546) and American National Bank & Trust ($8,245).

The lowest rate Wichita Falls VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.78%), USAA Federal Savings Bank (6.13%), American National Bank & Trust (6.18%), CARDINAL FINANCIAL (6.34%) and FLAT BRANCH MORTGAGE, INC. (6.47%).


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 $110,225 (0.3%) $167,092 (8.4%) 0.41 487
2018-02-01 $113,475 (3.3%) $166,502 (7.3%) 0.41 486
2018-03-01 $127,500 (14.1%) $175,469 (11.1%) 0.45 487
2018-04-01 $132,225 (15.1%) $187,891 (17.4%) 0.45 481
2018-05-01 $123,200 (7.2%) $183,840 (12.3%) 0.41 498
2018-06-01 $125,000 (9.7%) $183,799 (12.7%) 0.42 513
2018-07-01 $131,738 (19.8%) $183,841 (14.1%) 0.44 522
2018-08-01 $138,225 (31.7%) $187,094 (16.4%) 0.46 527
2018-09-01 $137,450 (25.0%) $187,260 (12.1%) 0.46 523
2018-10-01 $136,500 (18.8%) $187,613 (11.0%) 0.46 542
2018-11-01 $135,375 (17.0%) $190,868 (13.8%) 0.46 534
2018-12-01 $135,000 (20.5%) $190,414 (13.8%) 0.47 506
2019-01-01 $134,975 (22.5%) $195,673 (17.1%) 0.47 433
2019-02-01 $131,450 (15.8%) $196,184 (17.8%) 0.44 413
2019-03-01 $132,028 (3.6%) $195,055 (11.2%) 0.43 418
2019-04-01 $134,011 (1.4%) $193,274 (2.9%) 0.43 424
2019-05-01 $132,250 (7.4%) $194,317 (5.7%) 0.41 419
2019-06-01 $134,700 (7.8%) $194,907 (6.0%) 0.42 421
2019-07-01 $128,913 (-2.1%) $186,861 (1.6%) 0.40 476
2019-08-01 $131,100 (-5.2%) $189,394 (1.2%) 0.42 465
2019-09-01 $133,013 (-3.2%) $191,178 (2.1%) 0.43 451
2019-10-01 $136,000 (-0.4%) $193,046 (2.9%) 0.44 435
2019-11-01 $142,000 (4.9%) $197,063 (3.3%) 0.47 401
2019-12-01 $140,250 (3.9%) $197,685 (3.8%) 0.47 383
2020-01-01 $129,000 (-4.4%) $195,817 (0.1%) 0.43 357
2020-02-01 $125,000 (-4.9%) $195,712 (-0.2%) 0.41 312
2020-03-01 $148,225 (12.3%) $221,102 (13.4%) 0.46 310
2020-04-01 $156,500 (16.8%) $221,123 (14.4%) 0.49 300
2020-05-01 $189,700 (43.4%) $235,798 (21.4%) 0.58 252
2020-06-01 $193,450 (43.6%) $238,049 (22.1%) 0.57 222
2020-07-01 $158,075 (22.6%) $231,821 (24.1%) 0.46 226
2020-08-01 $159,950 (22.0%) $236,270 (24.8%) 0.46 231
2020-09-01 $157,450 (18.4%) $229,295 (19.9%) 0.45 217
2020-10-01 $159,900 (17.6%) $228,161 (18.2%) 0.46 214
2020-11-01 $151,825 (6.9%) $227,055 (15.2%) 0.44 197
2020-12-01 $144,900 (3.3%) $229,250 (16.0%) 0.43 153
2021-01-01 $129,900 (0.7%) $221,914 (13.3%) 0.39 126
2021-02-01 $122,950 (-1.6%) $202,737 (3.6%) 0.36 117
2021-03-01 $131,533 (-11.3%) $203,222 (-8.1%) 0.37 106
2021-04-01 $145,100 (-7.3%) $202,645 (-8.4%) 0.39 122
2021-05-01 $139,900 (-26.3%) $200,431 (-15.0%) 0.37 136
2021-06-01 $159,950 (-17.3%) $208,543 (-12.4%) 0.42 155
2021-07-01 $159,900 (1.2%) $200,780 (-13.4%) 0.42 195
2021-08-01 $164,600 (2.9%) $215,833 (-8.7%) 0.44 239
2021-09-01 $172,200 (9.4%) $230,120 (0.4%) 0.46 218
2021-10-01 $164,900 (3.1%) $251,311 (10.2%) 0.44 199
2021-11-01 $171,225 (12.8%) $270,043 (18.9%) 0.46 204
2021-12-01 $174,450 (20.4%) $274,377 (19.7%) 0.47 197
2022-01-01 $175,560 (35.2%) $281,617 (26.9%) 0.47 174
2022-02-01 $177,390 (44.3%) $293,723 (44.9%) 0.46 154
2022-03-01 $160,840 (22.3%) $287,990 (41.7%) 0.40 141
2022-04-01 $179,900 (24.0%) $288,747 (42.5%) 0.43 150
2022-05-01 $198,225 (41.7%) $301,841 (50.6%) 0.45 170
2022-06-01 $192,450 (20.3%) $294,522 (41.2%) 0.43 193
2022-07-01 $179,000 (11.9%) $276,024 (37.5%) 0.40 255
2022-08-01 $185,000 (12.4%) $264,662 (22.6%) 0.43 310
2022-09-01 $188,825 (9.7%) $262,945 (14.3%) 0.44 349
2022-10-01 $185,000 (12.2%) $246,003 (-2.1%) 0.44 359
2022-11-01 $190,450 (11.2%) $245,680 (-9.0%) 0.46 382
2022-12-01 $199,900 (14.6%) $247,116 (-9.9%) 0.49 363
2023-01-01 $199,900 (13.9%) $237,512 (-15.7%) 0.50 332
2023-02-01 $202,450 (14.1%) $239,003 (-18.6%) 0.49 301
2023-03-01 $206,000 (28.1%) $243,942 (-15.3%) 0.49 257
2023-04-01 $205,000 (14.0%) $245,607 (-14.9%) 0.48 248
2023-05-01 $216,675 (9.3%) $263,575 (-12.7%) 0.49 264
2023-06-01 $227,000 (18.0%) $270,094 (-8.3%) 0.51 301
2023-07-01 $220,000 (22.9%) $267,074 (-3.2%) 0.50 307
2023-08-01 $221,725 (19.9%) $265,946 (0.5%) 0.51 342
2023-09-01 $235,000 (24.5%) $269,109 (2.3%) 0.55 362
2023-10-01 $229,575 (24.1%) $266,546 (8.4%) 0.54 414
2023-11-01 $225,000 (18.1%) $275,371 (12.1%) 0.54 427
2023-12-01 $207,000 (3.6%) $256,754 (3.9%) 0.50 432
2024-01-01 $210,000 (5.1%) $264,656 (11.4%) 0.51 435
2024-02-01 $214,625 (6.0%) $265,935 (11.3%) 0.52 444
2024-03-01 $219,900 (6.8%) $267,660 (9.7%) 0.52 472
2024-04-01 $219,975 (7.3%) $265,775 (8.2%) 0.51 508
Wichita Falls's median listing price for 2024-04-01 was $219,975, a difference of $14,975 (7.3%) versus the prior year and $75 versus the prior month.

Wichita Falls's median listing price comes in at 51% of the national average.

Wichita Falls's average listing price for 2024-04-01 was $265,775, a difference of $20,168 (8.2%) versus the prior year and $-1,885 versus the prior month.

For the 2024-04-01 period, Wichita Falls had 508 MLS listings, a difference of 36 listings (8%) versus the prior month and 260 listings (105%) 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 74 days 1,630 sqft
2018-02-01 59 days 1,612 sqft
2018-03-01 51 days 1,680 sqft
2018-04-01 47 days 1,740 sqft
2018-05-01 44 days 1,699 sqft
2018-06-01 44 days 1,708 sqft
2018-07-01 47 days 1,745 sqft
2018-08-01 50 days 1,756 sqft
2018-09-01 57 days 1,766 sqft
2018-10-01 58 days 1,786 sqft
2018-11-01 60 days 1,811 sqft
2018-12-01 68 days 1,793 sqft
2019-01-01 77 days 1,794 sqft
2019-02-01 67 days 1,794 sqft
2019-03-01 52 days 1,803 sqft
2019-04-01 43 days 1,787 sqft
2019-05-01 44 days 1,767 sqft
2019-06-01 43 days 1,748 sqft
2019-07-01 38 days 1,707 sqft
2019-08-01 42 days 1,731 sqft
2019-09-01 48 days 1,753 sqft
2019-10-01 51 days 1,767 sqft
2019-11-01 50 days 1,800 sqft
2019-12-01 51 days 1,755 sqft
2020-01-01 58 days 1,730 sqft
2020-02-01 60 days 1,692 sqft
2020-03-01 51 days 1,799 sqft
2020-04-01 61 days 1,824 sqft
2020-05-01 65 days 1,924 sqft
2020-06-01 52 days 1,981 sqft
2020-07-01 40 days 1,859 sqft
2020-08-01 40 days 1,827 sqft
2020-09-01 40 days 1,862 sqft
2020-10-01 39 days 1,825 sqft
2020-11-01 45 days 1,823 sqft
2020-12-01 53 days 1,788 sqft
2021-01-01 52 days 1,706 sqft
2021-02-01 31 days 1,458 sqft
2021-03-01 32 days 1,487 sqft
2021-04-01 16 days 1,661 sqft
2021-05-01 16 days 1,705 sqft
2021-06-01 17 days 1,647 sqft
2021-07-01 22 days 1,570 sqft
2021-08-01 27 days 1,682 sqft
2021-09-01 36 days 1,695 sqft
2021-10-01 33 days 1,652 sqft
2021-11-01 37 days 1,652 sqft
2021-12-01 44 days 1,633 sqft
2022-01-01 47 days 1,659 sqft
2022-02-01 38 days 1,657 sqft
2022-03-01 23 days 1,610 sqft
2022-04-01 24 days 1,673 sqft
2022-05-01 18 days 1,698 sqft
2022-06-01 25 days 1,736 sqft
2022-07-01 25 days 1,573 sqft
2022-08-01 34 days 1,613 sqft
2022-09-01 38 days 1,625 sqft
2022-10-01 45 days 1,608 sqft
2022-11-01 49 days 1,622 sqft
2022-12-01 62 days 1,626 sqft
2023-01-01 65 days 1,626 sqft
2023-02-01 58 days 1,677 sqft
2023-03-01 44 days 1,680 sqft
2023-04-01 42 days 1,715 sqft
2023-05-01 34 days 1,731 sqft
2023-06-01 36 days 1,737 sqft
2023-07-01 38 days 1,728 sqft
2023-08-01 38 days 1,729 sqft
2023-09-01 44 days 1,733 sqft
2023-10-01 49 days 1,721 sqft
2023-11-01 51 days 1,714 sqft
2023-12-01 62 days 1,640 sqft
2024-01-01 66 days 1,658 sqft
2024-02-01 63 days 1,663 sqft
2024-03-01 52 days 1,693 sqft
2024-04-01 57 days 1,710 sqft
Wichita Falls's median listing age (time on market) for 2024-04-01 was 57 days. This is 38% longer than the same period one year ago.

Wichita Falls's median square footage for active listings during the 2024-04-01 period was 1,710 sqft. One year prior, the average listing was 1,715 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.