Wichita Falls VA Loan Rates, Closing Costs & Stats

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 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 6.27% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.5% and one month ago for the week of 2024-11-08, the average rate was 6.5%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

    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
    2024-05-01 $224,125 (3.4%) $269,474 (2.2%) 0.51 520
    2024-06-01 $215,000 (-5.3%) $265,460 (-1.7%) 0.48 510
    2024-07-01 $215,000 (-2.3%) $260,738 (-2.4%) 0.49 554
    2024-08-01 $215,000 (-3.0%) $261,808 (-1.6%) 0.50 575
    2024-09-01 $210,000 (-10.6%) $265,168 (-1.5%) 0.49 599
    2024-10-01 $209,950 (-8.6%) $264,582 (-0.7%) 0.49 584
    2024-11-01 $210,000 (-6.7%) $265,596 (-3.6%) 0.50 575
    Wichita Falls's median listing price for 2024-11-01 was $210,000, a difference of $-15,000 (-6.7%) versus the prior year and $50 versus the prior month.

    Wichita Falls's median listing price comes in at 50% of the national average.

    Wichita Falls's average listing price for 2024-11-01 was $265,596, a difference of $-9,775 (-3.6%) versus the prior year and $1,014 versus the prior month.

    For the 2024-11-01 period, Wichita Falls had 575 MLS listings, a difference of -9 listings (-2%) versus the prior month and 148 listings (35%) 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
    2024-05-01 56 days 1,714 sqft
    2024-06-01 55 days 1,691 sqft
    2024-07-01 57 days 1,677 sqft
    2024-08-01 54 days 1,673 sqft
    2024-09-01 59 days 1,655 sqft
    2024-10-01 61 days 1,668 sqft
    2024-11-01 65 days 1,683 sqft
    Wichita Falls's median listing age (time on market) for 2024-11-01 was 65 days. This is 27% longer than the same period one year ago.

    Wichita Falls's median square footage for active listings during the 2024-11-01 period was 1,683 sqft. One year prior, the average listing was 1,714 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.