Wichita VA Loans

WICHITA, KS

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's 125 lenders originated 2,615 VA loans during 2021. The total origination value was $560,475,000, with an average VA loan value of $214,331.

Wichita VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Wichita averaged 5.57% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.58% and one month ago for the week of 2022-04-15, the average rate was 5.05%.

The average rate one year ago was 3.24%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.48%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Wichita 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 level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 299 2.89% $5,419
QUICKEN LOANS, LLC 187 2.52% $4,111
FREEDOM MORTGAGE CORPORATION 174 2.59% $2,622
PENNYMAC LOAN SERVICES, LLC 129 2.53% $4,754
PENTAGON FEDERAL CREDIT UNION 109 2.32% $4,385
USAA Federal Savings Bank 86 2.87% $4,641
Sierra Pacific Mortgage Company, Inc. 78 3.05% $6,848
Gateway First Bank 68 2.80% $5,297
FLAT BRANCH MORTGAGE, INC. 56 3.10% $6,105
NEW DAY FINANCIAL, LLC 54 2.70% $5,540
LOANDEPOT.COM, LLC 49 2.70% $4,757
BNC National Bank 47 2.64% $5,125
Fidelity Bank 46 2.83% $6,682
NAVY FEDERAL CREDIT UNION 43 2.48% $4,776
Mr. Cooper ( Nationstar Mortgage ) 35 2.86% $2,992
LEADERONE FINANCIAL CORPORATION 34 2.97% $5,931
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 33 2.89% $6,188
DELMAR FINANCIAL COMPANY 32 2.91% $7,375
Regent Financial Group, Inc. 31 2.69% $4,988
CALIBER HOME LOANS, INC. 31 2.63% $3,002
LAKEVIEW LOAN SERVICING, LLC 30 2.65% $2,721
Wells Fargo Bank 30 2.52% $4,559
The Federal Savings Bank 29 2.68% $6,317
OPEN MORTGAGE, LLC 27 2.91% $4,434
UNITED WHOLESALE MORTGAGE, LLC 27 2.56% $5,661
NBKC BANK 24 2.67% $6,507
HOME POINT FINANCIAL CORPORATION 23 2.40% $4,462
Flagstar Bank, FSB 21 2.65% $4,599
PLANET HOME LENDING, LLC 19 3.08% $5,551
Sunflower Bank 18 2.76% $8,157
US MORTGAGE CORPORATION 17 3.03% $6,966
Low VA Rates, LLC 15 2.38% $4,550
Barrington Bank & Trust Company, N.A. 14 2.78% $2,300
Intrust Bank 14 2.57% $5,232
ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.08% $6,795
PRIMELENDING, A PLAINSCAPITAL COMPANY 14 2.88% $4,758
AMERISAVE MORTGAGE CORPORATION 13 2.63% $3,969
MORTGAGE 1 INCORPORATED 12 3.40% $5,637
AMERICAN FINANCIAL NETWORK, INC. 12 2.43% $6,804
North American Savings Bank, F.S.B. 11 2.36% $2,339
CMG MORTGAGE, INC. 10 2.61% $9,479
NEWREZ LLC 10 2.66% $3,636
GUILD MORTGAGE COMPANY 10 2.50% $4,407
U.S. Bank 9 2.78% $8,051
Carrington Mortgage Services, LLC 9 2.75% $6,796
SUN WEST MORTGAGE COMPANY, INC. 9 2.59% $3,239
Community First National Bank 9 2.56% $6,981
MUTUAL OF OMAHA MORTGAGE, INC. 8 2.52% $5,158
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.69% $4,946
BROKER SOLUTIONS, INC. 7 2.89% $8,099
EVERETT FINANCIAL, INC. 7 3.23% $8,444
ACCELERATE MORTGAGE, LLC 6 2.25% $4,354
KS StateBank 6 2.48% $3,181
First Federal Bank 5 4.02% $8,766
Magnolia Bank 5 2.68% $8,443
MID AMERICA MORTGAGE, INC. 5 2.95% $2,797
Mid-Continent Funding, Inc. 5 2.80% $3,543
CROSSCOUNTRY MORTGAGE, LLC 5 2.97% $2,179
Nations Lending Corporation 5 3.45% $5,963
AMERICAN FINANCING CORPORATION 5 2.85% $4,416
NBH Bank 4 2.69% $9,448
TJC Mortgage, Inc. 4 2.31% $4,834
Truist Bank 4 2.65% $1,675
INLAND BANK & TRUST 4 2.78% $5,989
STEARNS LENDING, LLC 4 2.25% $1,424
AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.16% $4,871
Mortgage Investment Services Corporation 4 3.00% $3,209
MOVEMENT MORTGAGE, LLC 4 3.06% $2,961
The Central Trust Bank 4 2.63% $10,691
First Guaranty Mortgage Corporation 3 3.21% $5,912
NP, Inc. 3 2.58% $3,880
Manufacturers and Traders Trust Company 3 2.79% $7,925
VILLAGE CAPITAL & INVESTMENT LLC 3 2.54% $4,219
Members Mortgage Services, L.L.C. 3 2.54% $7,178
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.58% $6,225
PLAZA HOME MORTGAGE, INC. 3 3.13% $4,057
ZILLOW HOME LOANS, LLC 2 2.38% $4,198
AMCAP MORTGAGE, LTD. 2 3.25% $6,609
Bank of England 2 2.56% $6,583
BOKF 2 2.56% $2,739
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.44% $6,660
Central National Bank 2 2.69% $5,124
Commerce Bank 2 3.31% $4,782
COMMUNITY MORTGAGE, LLC 2 2.38% $2,185
FINANCE OF AMERICA MORTGAGE LLC 2 2.63% $3,206
First Midwest Bank 2 2.69% $8,509
GUARANTEED RATE, INC. 2 2.69% $5,265
KELLER MORTGAGE, LLC 2 2.31% $2,322
Landmark National Bank 2 2.75% $4,167
LOANPAL, LLC 2 2.75% $3,178
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.63% $4,927
ROYAL UNITED MORTGAGE LLC 2 3.13% $8,145
THRIVE MORTGAGE, LLC 2 2.94% $8,154
Wyndham Capital Mortgage, Inc. 2 2.94% $7,704
Red River Bank 1 2.25% $15,379
Paramount Bank 1 2.38% $2,134
RESIDENTIAL BANCORP. 1 2.25% $2,435
Capital Bank 1 2.25% $1,747
CALCON MUTUAL MORTGAGE LLC 1 3.13% $2,478
Service Federal Credit Union 1 2.88% $8,897
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $4,099
Simmons Bank 1 2.25% $2,482
SouthPoint Bank 1 3.38% $6,919
JPMorgan Chase Bank 1 2.63% $3,176
Strong Home Mortgage, LLC 1 2.75% $994
INTERCAP LENDING INC. 1 3.00% $10,083
First State Bank of St. Charles, Missouri 1 2.88% $2,818
SWBC MORTGAGE CORPORATION 1 2.75% $3,251
T2 FINANCIAL LLC 1 4.13% $772
First Home Bank 1 2.25% $869
FirstBank 1 2.50% $1,705
The Home Loan Expert LLC 1 2.38% $13,390
Ameris Bank 1 2.25% $8,382
Equity Prime Mortgage LLC 1 3.75% $3,118
EMBRACE HOME LOANS, INC. 1 2.75% $3,434
UNION HOME MORTGAGE CORP. 1 2.25% $2,365
United Fidelity Funding Corp. 1 2.75% $7,630
DRAPER AND KRAMER MORTGAGE CORP. 1 2.38% $4,404
CITYWIDE HOME LOANS, LLC 1 2.75% $3,303
CHURCHILL MORTGAGE CORPORATION 1 2.38% $4,583
CELEBRITY HOME LOANS, LLC 1 2.50% $8,563
PREMIA MORTGAGE, LLC 1 2.25% $1,335
Pinnacle Bank 1 2.38% $7,602
Paramount Residential Mortgage Group, Inc. 1 3.75% $5,708
RCB Bank 1 3.38% $2,894

The top Wichita VA lender as defined by loan originations is Mortgage Research Center, LLC, with 299 VA loans originated. Their average total fees are $5,419, which is $1,308 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Wichita VA lenders (with over 10 loans originated) are Barrington Bank & Trust Company, N.A. ($2,300), North American Savings Bank, F.S.B. ($2,339), FREEDOM MORTGAGE CORPORATION ($2,622), LAKEVIEW LOAN SERVICING, LLC ($2,721) and Mr. Cooper ( Nationstar Mortgage ) ($2,992).

The lowest rate Wichita VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (2.32%), North American Savings Bank, F.S.B. (2.36%), Low VA Rates, LLC (2.38%), HOME POINT FINANCIAL CORPORATION (2.40%) and AMERICAN FINANCIAL NETWORK, INC. (2.43%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Wichita (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 $172,000 (4.3%) $226,787 (2.9%) 0.63 1,976
2018-02-01 $179,900 (8.4%) $232,943 (4.7%) 0.65 1,813
2018-03-01 $189,900 (7.3%) $237,229 (3.0%) 0.66 1,772
2018-04-01 $199,950 (9.5%) $249,044 (6.0%) 0.67 1,800
2018-05-01 $200,000 (5.3%) $248,948 (3.3%) 0.67 1,928
2018-06-01 $199,900 (7.2%) $249,778 (4.1%) 0.67 2,046
2018-07-01 $199,918 (8.1%) $256,935 (8.5%) 0.67 2,015
2018-08-01 $199,700 (10.7%) $258,577 (10.3%) 0.67 2,029
2018-09-01 $189,900 (8.5%) $252,124 (10.2%) 0.64 2,092
2018-10-01 $190,000 (11.8%) $251,504 (10.8%) 0.64 2,126
2018-11-01 $184,450 (8.5%) $244,263 (8.3%) 0.62 2,166
2018-12-01 $184,000 (8.2%) $243,188 (7.9%) 0.63 2,040
2019-01-01 $186,750 (8.6%) $243,985 (7.6%) 0.64 1,907
2019-02-01 $195,433 (8.6%) $254,171 (9.1%) 0.65 1,799
2019-03-01 $203,343 (7.1%) $260,821 (9.9%) 0.66 1,741
2019-04-01 $212,500 (6.3%) $269,041 (8.0%) 0.67 1,731
2019-05-01 $219,450 (9.7%) $276,528 (11.1%) 0.68 1,744
2019-06-01 $217,310 (8.7%) $274,381 (9.9%) 0.67 1,709
2019-07-01 $204,950 (2.5%) $265,957 (3.5%) 0.64 1,737
2019-08-01 $199,900 (0.1%) $260,622 (0.8%) 0.63 1,788
2019-09-01 $202,525 (6.7%) $261,898 (3.9%) 0.64 1,759
2019-10-01 $218,500 (15.0%) $273,887 (8.9%) 0.70 1,684
2019-11-01 $209,000 (13.3%) $267,448 (9.5%) 0.67 1,593
2019-12-01 $199,250 (8.3%) $260,468 (7.1%) 0.66 1,501
2020-01-01 $199,400 (6.8%) $260,591 (6.8%) 0.66 1,390
2020-02-01 $207,250 (6.1%) $270,900 (6.6%) 0.67 1,305
2020-03-01 $223,400 (9.9%) $285,863 (9.6%) 0.70 1,248
2020-04-01 $229,900 (8.2%) $289,881 (7.8%) 0.72 1,243
2020-05-01 $246,275 (12.2%) $298,252 (7.9%) 0.75 1,186
2020-06-01 $259,450 (19.4%) $311,805 (13.6%) 0.76 1,057
2020-07-01 $249,900 (21.9%) $302,556 (13.8%) 0.72 993
2020-08-01 $250,000 (25.1%) $305,971 (17.4%) 0.71 974
2020-09-01 $242,000 (19.5%) $302,148 (15.4%) 0.69 956
2020-10-01 $239,900 (9.8%) $296,233 (8.2%) 0.69 1,014
2020-11-01 $236,025 (12.9%) $288,811 (8.0%) 0.68 1,005
2020-12-01 $222,500 (11.7%) $277,138 (6.4%) 0.65 917
2021-01-01 $225,000 (12.8%) $286,119 (9.8%) 0.66 782
2021-02-01 $247,450 (19.4%) $302,500 (11.7%) 0.71 625
2021-03-01 $249,165 (11.5%) $306,704 (7.3%) 0.70 547
2021-04-01 $239,500 (4.2%) $297,100 (2.5%) 0.64 504
2021-05-01 $235,000 (-4.6%) $286,989 (-3.8%) 0.62 571
2021-06-01 $224,950 (-13.3%) $284,647 (-8.7%) 0.58 666
2021-07-01 $219,700 (-12.1%) $279,931 (-7.5%) 0.57 747
2021-08-01 $216,505 (-13.4%) $281,107 (-8.1%) 0.57 850
2021-09-01 $207,500 (-14.3%) $275,197 (-8.9%) 0.55 854
2021-10-01 $220,000 (-8.3%) $283,150 (-4.4%) 0.58 838
2021-11-01 $224,750 (-4.8%) $292,933 (1.4%) 0.59 758
2021-12-01 $229,950 (3.4%) $293,602 (5.9%) 0.61 671
2022-01-01 $247,128 (9.8%) $315,623 (10.3%) 0.66 533
2022-02-01 $252,450 (2.0%) $313,766 (3.7%) 0.64 462
2022-03-01 $254,900 (2.3%) $315,778 (3.0%) 0.63 452
2022-04-01 $265,000 (10.7%) $316,424 (6.5%) 0.62 492
Wichita's median listing price for 2022-04-01 was $265,000, a difference of $25,500 (10.7%) versus the prior year and $10,100 versus the prior month.

Wichita's median listing price comes in at 62% of the national average.

Wichita's average listing price for 2022-04-01 was $316,424, a difference of $19,324 (6.5%) versus the prior year and $646 versus the prior month.

For the 2022-04-01 period, Wichita had 492 MLS listings, a difference of 40 listings (9%) versus the prior month and -12 listings (-2%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Wichita (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 2,094 sqft
2018-02-01 79 days 2,137 sqft
2018-03-01 57 days 2,190 sqft
2018-04-01 49 days 2,251 sqft
2018-05-01 45 days 2,260 sqft
2018-06-01 45 days 2,250 sqft
2018-07-01 52 days 2,262 sqft
2018-08-01 57 days 2,261 sqft
2018-09-01 53 days 2,218 sqft
2018-10-01 57 days 2,203 sqft
2018-11-01 57 days 2,166 sqft
2018-12-01 66 days 2,127 sqft
2019-01-01 76 days 2,115 sqft
2019-02-01 73 days 2,138 sqft
2019-03-01 57 days 2,159 sqft
2019-04-01 47 days 2,215 sqft
2019-05-01 47 days 2,258 sqft
2019-06-01 49 days 2,255 sqft
2019-07-01 50 days 2,216 sqft
2019-08-01 52 days 2,193 sqft
2019-09-01 56 days 2,203 sqft
2019-10-01 58 days 2,257 sqft
2019-11-01 61 days 2,228 sqft
2019-12-01 69 days 2,115 sqft
2020-01-01 75 days 2,083 sqft
2020-02-01 72 days 2,121 sqft
2020-03-01 57 days 2,197 sqft
2020-04-01 58 days 2,241 sqft
2020-05-01 64 days 2,272 sqft
2020-06-01 58 days 2,303 sqft
2020-07-01 54 days 2,295 sqft
2020-08-01 49 days 2,328 sqft
2020-09-01 43 days 2,262 sqft
2020-10-01 42 days 2,231 sqft
2020-11-01 45 days 2,187 sqft
2020-12-01 56 days 2,053 sqft
2021-01-01 60 days 2,048 sqft
2021-02-01 61 days 2,052 sqft
2021-03-01 55 days 2,050 sqft
2021-04-01 51 days 2,029 sqft
2021-05-01 38 days 2,015 sqft
2021-06-01 39 days 1,974 sqft
2021-07-01 38 days 1,995 sqft
2021-08-01 37 days 1,992 sqft
2021-09-01 42 days 1,959 sqft
2021-10-01 42 days 1,982 sqft
2021-11-01 45 days 1,961 sqft
2021-12-01 54 days 1,908 sqft
2022-01-01 66 days 1,869 sqft
2022-02-01 57 days 1,900 sqft
2022-03-01 46 days 1,951 sqft
2022-04-01 37 days 2,015 sqft
Wichita's median listing age (time on market) for 2022-04-01 was 37 days. This is -27% shorter than the same period one year ago.

Wichita's median square footage for active listings during the 2022-04-01 period was 2,015 sqft. One year prior, the average listing was 2,029 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.