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%.

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.