Wichita VA Loan Rates, Closing Costs & Stats

WICHITA, KS

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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'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 6.38% for the week of 2023-01-27, compared to the national average (all VA variants) of 5.952% for the same period.

    Wichita's average VA mortgage closing costs are $4,807.

    The average rate for the prior week (2023-01-20) was 6.31% and one month ago for the week of 2022-12-23, the average rate was 6.68%.

    The average rate one year ago was 3.98%.

    For refis of the same type during the week of 2023-01-27, the average rate was 5.89%.

    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/closing costs 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. Closing Costs
    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
    CALIBER HOME LOANS, INC. 31 2.63% $3,002
    Regent Financial Group, Inc. 31 2.69% $4,988
    Wells Fargo Bank 30 2.52% $4,559
    LAKEVIEW LOAN SERVICING, LLC 30 2.65% $2,721
    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
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 2.88% $4,758
    Intrust Bank 14 2.57% $5,232
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.08% $6,795
    Barrington Bank & Trust Company, N.A. 14 2.78% $2,300
    AMERISAVE MORTGAGE CORPORATION 13 2.63% $3,969
    AMERICAN FINANCIAL NETWORK, INC. 12 2.43% $6,804
    MORTGAGE 1 INCORPORATED 12 3.40% $5,637
    North American Savings Bank, F.S.B. 11 2.36% $2,339
    NEWREZ LLC 10 2.66% $3,636
    GUILD MORTGAGE COMPANY 10 2.50% $4,407
    CMG MORTGAGE, INC. 10 2.61% $9,479
    SUN WEST MORTGAGE COMPANY, INC. 9 2.59% $3,239
    Community First National Bank 9 2.56% $6,981
    Carrington Mortgage Services, LLC 9 2.75% $6,796
    U.S. Bank 9 2.78% $8,051
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.69% $4,946
    MUTUAL OF OMAHA MORTGAGE, INC. 8 2.52% $5,158
    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
    AMERICAN FINANCING CORPORATION 5 2.85% $4,416
    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
    MID AMERICA MORTGAGE, INC. 5 2.95% $2,797
    Magnolia Bank 5 2.68% $8,443
    First Federal Bank 5 4.02% $8,766
    NBH Bank 4 2.69% $9,448
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.16% $4,871
    Truist 4 2.65% $1,675
    TJC Mortgage, Inc. 4 2.31% $4,834
    The Central Trust Bank 4 2.63% $10,691
    INLAND BANK & TRUST 4 2.78% $5,989
    STEARNS LENDING, LLC 4 2.25% $1,424
    Mortgage Investment Services Corporation 4 3.00% $3,209
    MOVEMENT MORTGAGE, LLC 4 3.06% $2,961
    Members Mortgage Services, L.L.C. 3 2.54% $7,178
    M&T Bank 3 2.79% $7,925
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.58% $6,225
    First Guaranty Mortgage Corporation 3 3.21% $5,912
    VILLAGE CAPITAL MORTGAGE 3 2.54% $4,219
    PLAZA HOME MORTGAGE, INC. 3 3.13% $4,057
    NP, Inc. 3 2.58% $3,880
    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 $174,900 (6.5%) $226,176 (3.6%) 0.65 1,965
    2018-02-01 $182,817 (9.2%) $234,420 (5.9%) 0.66 1,814
    2018-03-01 $192,500 (8.5%) $240,838 (5.6%) 0.68 1,790
    2018-04-01 $205,950 (11.4%) $251,315 (8.2%) 0.70 1,829
    2018-05-01 $205,000 (6.8%) $251,278 (5.1%) 0.68 1,964
    2018-06-01 $199,918 (5.3%) $252,181 (5.5%) 0.67 2,060
    2018-07-01 $200,813 (8.5%) $259,275 (9.8%) 0.67 2,040
    2018-08-01 $199,909 (9.6%) $259,770 (11.4%) 0.67 2,034
    2018-09-01 $192,900 (8.7%) $254,726 (11.7%) 0.65 2,084
    2018-10-01 $194,900 (12.9%) $253,801 (12.0%) 0.66 2,151
    2018-11-01 $185,000 (6.5%) $245,696 (9.3%) 0.63 2,145
    2018-12-01 $185,000 (7.3%) $244,024 (8.8%) 0.64 2,005
    2019-01-01 $188,588 (7.8%) $246,159 (8.8%) 0.65 1,878
    2019-02-01 $199,250 (9.0%) $257,751 (10.0%) 0.67 1,791
    2019-03-01 $206,100 (7.1%) $263,804 (9.5%) 0.67 1,761
    2019-04-01 $217,400 (5.6%) $272,169 (8.3%) 0.69 1,746
    2019-05-01 $222,875 (8.7%) $279,771 (11.3%) 0.70 1,767
    2019-06-01 $219,900 (10.0%) $278,166 (10.3%) 0.69 1,715
    2019-07-01 $210,330 (4.7%) $270,547 (4.4%) 0.66 1,766
    2019-08-01 $208,473 (4.3%) $268,449 (3.3%) 0.66 1,762
    2019-09-01 $209,332 (8.5%) $269,330 (5.7%) 0.67 1,732
    2019-10-01 $209,950 (7.7%) $269,918 (6.4%) 0.68 1,712
    2019-11-01 $207,900 (12.4%) $267,016 (8.7%) 0.68 1,599
    2019-12-01 $199,834 (8.0%) $260,717 (6.8%) 0.67 1,485
    2020-01-01 $199,700 (5.9%) $259,356 (5.4%) 0.67 1,393
    2020-02-01 $205,000 (2.9%) $268,645 (4.2%) 0.67 1,316
    2020-03-01 $215,000 (4.3%) $274,296 (4.0%) 0.67 1,271
    2020-04-01 $223,200 (2.7%) $279,963 (2.9%) 0.70 1,241
    2020-05-01 $234,900 (5.4%) $286,449 (2.4%) 0.71 1,188
    2020-06-01 $248,750 (13.1%) $297,903 (7.1%) 0.73 1,074
    2020-07-01 $248,825 (18.3%) $299,352 (10.7%) 0.72 1,013
    2020-08-01 $245,000 (17.5%) $298,749 (11.3%) 0.70 1,005
    2020-09-01 $229,900 (9.8%) $286,061 (6.2%) 0.66 1,001
    2020-10-01 $229,900 (9.5%) $281,660 (4.4%) 0.66 1,050
    2020-11-01 $227,625 (9.5%) $278,122 (4.2%) 0.66 1,034
    2020-12-01 $220,000 (10.1%) $272,579 (4.6%) 0.65 920
    2021-01-01 $224,900 (12.6%) $277,642 (7.1%) 0.67 793
    2021-02-01 $244,100 (19.1%) $299,058 (11.3%) 0.71 642
    2021-03-01 $241,500 (12.3%) $301,542 (9.9%) 0.69 588
    2021-04-01 $239,225 (7.2%) $296,482 (5.9%) 0.65 539
    2021-05-01 $235,000 (0.0%) $288,452 (0.7%) 0.62 616
    2021-06-01 $224,138 (-9.9%) $285,162 (-4.3%) 0.59 691
    2021-07-01 $220,000 (-11.6%) $279,593 (-6.6%) 0.58 791
    2021-08-01 $215,000 (-12.2%) $278,200 (-6.9%) 0.57 887
    2021-09-01 $207,500 (-9.7%) $275,884 (-3.6%) 0.55 878
    2021-10-01 $220,000 (-4.3%) $281,043 (-0.2%) 0.59 878
    2021-11-01 $222,559 (-2.2%) $290,342 (4.4%) 0.59 790
    2021-12-01 $229,950 (4.5%) $291,771 (7.0%) 0.62 679
    2022-01-01 $246,000 (9.4%) $313,027 (12.7%) 0.67 554
    2022-02-01 $253,125 (3.7%) $313,896 (5.0%) 0.66 491
    2022-03-01 $254,950 (5.6%) $315,175 (4.5%) 0.64 495
    2022-04-01 $269,000 (12.5%) $317,932 (7.2%) 0.64 510
    2022-05-01 $269,950 (14.9%) $333,491 (15.6%) 0.62 567
    2022-06-01 $279,950 (24.9%) $341,316 (19.7%) 0.62 689
    2022-07-01 $280,000 (27.3%) $340,747 (21.9%) 0.63 845
    2022-08-01 $290,000 (34.9%) $342,747 (23.2%) 0.67 855
    2022-09-01 $290,260 (39.9%) $348,464 (26.3%) 0.68 855
    2022-10-01 $304,475 (38.4%) $351,813 (25.2%) 0.72 962
    2022-11-01 $291,000 (30.8%) $347,895 (19.8%) 0.70 1,036
    2022-12-01 $289,000 (25.7%) $347,623 (19.1%) 0.72 962
    Wichita's median listing price for 2022-12-01 was $289,000, a difference of $59,050 (25.7%) versus the prior year and $-2,000 versus the prior month.

    Wichita's median listing price comes in at 72% of the national average.

    Wichita's average listing price for 2022-12-01 was $347,623, a difference of $55,852 (19.1%) versus the prior year and $-272 versus the prior month.

    For the 2022-12-01 period, Wichita had 962 MLS listings, a difference of -74 listings (-7%) versus the prior month and 283 listings (42%) 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 74 days 2,079 sqft
    2018-02-01 74 days 2,114 sqft
    2018-03-01 52 days 2,168 sqft
    2018-04-01 45 days 2,205 sqft
    2018-05-01 43 days 2,248 sqft
    2018-06-01 44 days 2,237 sqft
    2018-07-01 51 days 2,243 sqft
    2018-08-01 54 days 2,244 sqft
    2018-09-01 50 days 2,211 sqft
    2018-10-01 54 days 2,181 sqft
    2018-11-01 55 days 2,159 sqft
    2018-12-01 65 days 2,105 sqft
    2019-01-01 75 days 2,112 sqft
    2019-02-01 71 days 2,116 sqft
    2019-03-01 59 days 2,134 sqft
    2019-04-01 45 days 2,207 sqft
    2019-05-01 45 days 2,237 sqft
    2019-06-01 47 days 2,264 sqft
    2019-07-01 48 days 2,188 sqft
    2019-08-01 53 days 2,183 sqft
    2019-09-01 60 days 2,210 sqft
    2019-10-01 66 days 2,228 sqft
    2019-11-01 65 days 2,166 sqft
    2019-12-01 73 days 2,110 sqft
    2020-01-01 76 days 2,076 sqft
    2020-02-01 73 days 2,112 sqft
    2020-03-01 66 days 2,117 sqft
    2020-04-01 67 days 2,206 sqft
    2020-05-01 72 days 2,219 sqft
    2020-06-01 67 days 2,253 sqft
    2020-07-01 54 days 2,271 sqft
    2020-08-01 52 days 2,258 sqft
    2020-09-01 54 days 2,200 sqft
    2020-10-01 56 days 2,177 sqft
    2020-11-01 56 days 2,112 sqft
    2020-12-01 63 days 2,049 sqft
    2021-01-01 74 days 2,038 sqft
    2021-02-01 74 days 2,031 sqft
    2021-03-01 75 days 2,006 sqft
    2021-04-01 80 days 2,002 sqft
    2021-05-01 63 days 2,014 sqft
    2021-06-01 45 days 1,975 sqft
    2021-07-01 43 days 1,982 sqft
    2021-08-01 45 days 1,973 sqft
    2021-09-01 54 days 1,940 sqft
    2021-10-01 47 days 1,989 sqft
    2021-11-01 45 days 1,939 sqft
    2021-12-01 52 days 1,898 sqft
    2022-01-01 61 days 1,817 sqft
    2022-02-01 49 days 1,871 sqft
    2022-03-01 38 days 1,910 sqft
    2022-04-01 35 days 2,015 sqft
    2022-05-01 34 days 2,063 sqft
    2022-06-01 33 days 2,116 sqft
    2022-07-01 35 days 2,109 sqft
    2022-08-01 40 days 2,129 sqft
    2022-09-01 45 days 2,108 sqft
    2022-10-01 44 days 2,148 sqft
    2022-11-01 44 days 2,095 sqft
    2022-12-01 64 days 2,082 sqft
    Wichita's median listing age (time on market) for 2022-12-01 was 64 days. This is 23% longer than the same period one year ago.

    Wichita's median square footage for active listings during the 2022-12-01 period was 2,082 sqft. One year prior, the average listing was 1,898 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.