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 62 lenders originated 523 VA loans during 2022. The total origination value was $129,945,000, with an average VA loan value of $248,461.

    Wichita Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wichita Falls averaged 6.17% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Wichita Falls's average VA mortgage closing costs are $5,539.

    The average rate for the prior week (2023-05-19) was 6.19% and one month ago for the week of 2023-04-21, the average rate was 6.11%.

    The average rate one year ago was 5.18%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.66%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 113 5.17% $6,419
    FLAT BRANCH MORTGAGE, INC. 60 4.77% $8,732
    American National Bank & Trust 45 4.57% $6,942
    PRIMELENDING, A PLAINSCAPITAL COMPANY 30 4.93% $6,104
    USAA Federal Savings Bank 30 4.15% $8,028
    UNITED WHOLESALE MORTGAGE, LLC 18 4.66% $6,354
    First Bank 17 5.13% $7,373
    NAVY FEDERAL CREDIT UNION 17 4.08% $8,006
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 5.13% $9,520
    First Bank & Trust 12 4.99% $4,602
    MOVEMENT MORTGAGE, LLC 12 4.96% $9,783
    QUICKEN LOANS, LLC 11 4.67% $6,550
    PENNYMAC LOAN SERVICES, LLC 9 3.65% $8,716
    NEWREZ LLC 8 2.92% $8,323
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 5.89% $3,761
    CARDINAL FINANCIAL 7 5.70% $17,263
    UNION SQUARE 7 5.23% $8,078
    NBKC BANK 5 3.98% $11,180
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.74% $6,969
    CROSSCOUNTRY MORTGAGE, LLC 4 5.05% $5,900
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 7.03% $13,175
    EVERETT FINANCIAL, INC. 4 6.03% $5,252
    Gateway First Bank 4 5.10% $6,091
    BROKER SOLUTIONS, INC. 3 4.50% $11,214
    GUILD MORTGAGE COMPANY 3 4.75% $7,520
    DAS Acquisition Company, LLC 3 5.46% $2,500
    NEW DAY FINANCIAL, LLC 3 4.33% $5,674
    First National Bank 2 5.19% $8,160
    North American Savings Bank, F.S.B. 2 4.38% $8,345
    Mr. Cooper ( Nationstar Mortgage ) 2 3.50% $4,216
    Wells Fargo Bank 2 4.06% $13,219
    CMG MORTGAGE, INC. 2 5.44% $11,377
    GUARANTEED RATE, INC. 2 6.75% $5,678
    NexBank 2 4.06% $12,968
    PENTAGON FEDERAL CREDIT UNION 2 5.38% $12,721
    JPMorgan Chase Bank 1 5.25% $7,700
    AMERICAN FINANCING CORPORATION 1 3.25% $2,600
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $5,148
    ASPIRE FINANCIAL, INC. 1 3.63% $4,061
    Barrington Bank & Trust Company, N.A. 1 4.63% $8,864
    BNC National Bank 1 4.50% $6,177
    CALIBER HOME LOANS, INC. 1 5.13% $7,095
    First Financial Bank 1 6.25% $8,071
    First United Bank 1 4.50% $12,711
    First United Bank and Trust Company 1 3.75% $8,115
    FREEDOM MORTGAGE CORPORATION 1 6.13% $4,709
    Golden Empire Mortgage, Inc. 1 4.13% $7,602
    GUARANTEED RATE AFFINITY, LLC 1 4.50% $15,231
    HOME POINT FINANCIAL CORPORATION 1 3.49% $6,814
    AMCAP MORTGAGE, LTD. 1 6.75% $7,655
    LAKEVIEW LOAN SERVICING, LLC 1 2.99% $2,057
    LEADERONE FINANCIAL CORPORATION 1 5.25% $16,665
    LOANDEPOT.COM, LLC 1 2.88% $3,799
    LOANPEOPLE, LLC 1 4.88% $6,712
    Mid-Continent Funding, Inc. 1 3.25% $4,369
    Plains Commerce Bank 1 5.63% $5,858
    PREMIA MORTGAGE, LLC 1 5.00% $11,142
    Regions Bank 1 7.38% $4,002
    SFMC, LP 1 5.63% $5,626
    TEXAS TECH 1 6.13% $7,065
    The Federal Savings Bank 1 2.75% $13,330
    THE MORTGAGE LINK, INC. 1 7.00% $4,453

    The top Wichita Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 113 VA loans originated. Their average total fees are $6,419, which is $2,313 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Wichita Falls VA lenders (with over 10 loans originated) are First Bank & Trust ($4,602), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,104), UNITED WHOLESALE MORTGAGE, LLC ($6,354), Mortgage Research Center, LLC ($6,419) and QUICKEN LOANS, LLC ($6,550).

    The lowest rate Wichita Falls VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (4.08%), USAA Federal Savings Bank (4.15%), American National Bank & Trust (4.57%), UNITED WHOLESALE MORTGAGE, LLC (4.66%) and QUICKEN LOANS, LLC (4.67%).

    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 (8.5%) 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 $135,000 (5.9%) $197,093 (12.3%) 0.45 415
    2019-04-01 $134,366 (1.6%) $193,274 (2.9%) 0.43 425
    2019-05-01 $132,250 (7.4%) $194,303 (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 $130,000 (-6.0%) $199,283 (6.5%) 0.41 459
    2019-09-01 $133,700 (-2.7%) $206,410 (10.2%) 0.42 390
    2019-10-01 $136,000 (-0.4%) $194,981 (3.9%) 0.44 431
    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 (9.8%) $221,102 (12.2%) 0.46 310
    2020-04-01 $156,500 (16.5%) $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 (23.0%) $236,270 (18.6%) 0.46 231
    2020-09-01 $157,450 (17.8%) $229,295 (11.1%) 0.45 217
    2020-10-01 $159,900 (17.6%) $228,161 (17.0%) 0.46 214
    2020-11-01 $149,950 (5.6%) $226,382 (14.9%) 0.44 197
    2020-12-01 $144,900 (3.3%) $228,454 (15.6%) 0.43 154
    2021-01-01 $129,866 (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 $159,700 (-17.5%) $208,175 (-12.6%) 0.42 156
    2021-07-01 $159,450 (0.9%) $200,780 (-13.4%) 0.42 195
    2021-08-01 $164,250 (2.7%) $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 (14.2%) $270,043 (19.3%) 0.46 204
    2021-12-01 $174,450 (20.4%) $274,377 (20.1%) 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 (20.5%) $294,522 (41.5%) 0.43 193
    2022-07-01 $179,000 (12.3%) $276,024 (37.5%) 0.40 255
    2022-08-01 $185,000 (12.6%) $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 $199,200 (13.5%) $237,025 (-15.8%) 0.49 333
    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
    Wichita Falls's median listing price for 2023-04-01 was $205,000, a difference of $25,100 (14.0%) versus the prior year and $-1,000 versus the prior month.

    Wichita Falls's median listing price comes in at 48% of the national average.

    Wichita Falls's average listing price for 2023-04-01 was $245,607, a difference of $-43,140 (-14.9%) versus the prior year and $1,665 versus the prior month.

    For the 2023-04-01 period, Wichita Falls had 248 MLS listings, a difference of -9 listings (-4%) versus the prior month and 98 listings (65%) 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 1,630 sqft
    2018-02-01 67 days 1,612 sqft
    2018-03-01 58 days 1,680 sqft
    2018-04-01 53 days 1,740 sqft
    2018-05-01 50 days 1,699 sqft
    2018-06-01 50 days 1,708 sqft
    2018-07-01 52 days 1,745 sqft
    2018-08-01 55 days 1,756 sqft
    2018-09-01 62 days 1,766 sqft
    2018-10-01 65 days 1,786 sqft
    2018-11-01 67 days 1,811 sqft
    2018-12-01 75 days 1,793 sqft
    2019-01-01 82 days 1,794 sqft
    2019-02-01 75 days 1,794 sqft
    2019-03-01 55 days 1,803 sqft
    2019-04-01 46 days 1,787 sqft
    2019-05-01 46 days 1,767 sqft
    2019-06-01 45 days 1,748 sqft
    2019-07-01 40 days 1,707 sqft
    2019-08-01 57 days 1,775 sqft
    2019-09-01 65 days 1,832 sqft
    2019-10-01 56 days 1,770 sqft
    2019-11-01 52 days 1,800 sqft
    2019-12-01 53 days 1,755 sqft
    2020-01-01 60 days 1,730 sqft
    2020-02-01 62 days 1,692 sqft
    2020-03-01 53 days 1,799 sqft
    2020-04-01 63 days 1,824 sqft
    2020-05-01 68 days 1,924 sqft
    2020-06-01 55 days 1,981 sqft
    2020-07-01 42 days 1,859 sqft
    2020-08-01 43 days 1,827 sqft
    2020-09-01 43 days 1,862 sqft
    2020-10-01 41 days 1,825 sqft
    2020-11-01 46 days 1,818 sqft
    2020-12-01 55 days 1,784 sqft
    2021-01-01 56 days 1,705 sqft
    2021-02-01 32 days 1,458 sqft
    2021-03-01 37 days 1,487 sqft
    2021-04-01 18 days 1,661 sqft
    2021-05-01 17 days 1,705 sqft
    2021-06-01 17 days 1,638 sqft
    2021-07-01 22 days 1,568 sqft
    2021-08-01 28 days 1,675 sqft
    2021-09-01 37 days 1,695 sqft
    2021-10-01 36 days 1,652 sqft
    2021-11-01 38 days 1,652 sqft
    2021-12-01 44 days 1,633 sqft
    2022-01-01 51 days 1,659 sqft
    2022-02-01 39 days 1,657 sqft
    2022-03-01 25 days 1,610 sqft
    2022-04-01 24 days 1,673 sqft
    2022-05-01 19 days 1,698 sqft
    2022-06-01 26 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 50 days 1,622 sqft
    2022-12-01 63 days 1,626 sqft
    2023-01-01 65 days 1,626 sqft
    2023-02-01 59 days 1,679 sqft
    2023-03-01 44 days 1,680 sqft
    2023-04-01 45 days 1,715 sqft
    Wichita Falls's median listing age (time on market) for 2023-04-01 was 45 days. This is 88% longer than the same period one year ago.

    Wichita Falls's median square footage for active listings during the 2023-04-01 period was 1,715 sqft. One year prior, the average listing was 1,673 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.