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 95 lenders originated 1,112 VA loans during 2023. The total origination value was $287,120,000, with an average VA loan value of $258,201.

    Wichita VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wichita averaged 0.19% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Wichita's average VA mortgage closing costs are $5,639.

    The average rate for the prior week (2024-11-08) was 6.59% and one month ago for the week of 2024-10-11, the average rate was 5.86%.

    The average rate one year ago was 7.55%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.26%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 246 6.75% $5,966
    FLAT BRANCH MORTGAGE, INC. 56 6.45% $8,559
    PENTAGON FEDERAL CREDIT UNION 54 5.84% $8,523
    QUICKEN LOANS, LLC 46 6.21% $8,925
    NAVY FEDERAL CREDIT UNION 45 5.95% $5,152
    Fidelity Bank 35 6.49% $7,546
    LOANDEPOT.COM, LLC 30 6.56% $9,152
    Sierra Pacific Mortgage Company, Inc. 29 6.41% $8,182
    UNITED WHOLESALE MORTGAGE, LLC 26 6.14% $8,020
    USAA Federal Savings Bank 26 6.21% $6,469
    Gateway First Bank 25 6.33% $7,251
    PENNYMAC LOAN SERVICES, LLC 24 6.15% $6,753
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 6.48% $7,097
    OPEN MORTGAGE, LLC 22 6.65% $6,486
    Neighborhood Loans, Inc. 21 6.85% $10,296
    FREEDOM MORTGAGE CORPORATION 19 6.82% $12,711
    PLANET HOME LENDING, LLC 16 6.62% $10,160
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 6.47% $8,763
    Plains Commerce Bank 14 6.54% $6,190
    Regent Financial Group, Inc. 14 6.66% $11,772
    NEW DAY FINANCIAL, LLC 14 7.33% $9,412
    ACADEMY MORTGAGE CORPORATION 14 6.82% $7,055
    Equity Prime Mortgage LLC 14 7.11% $6,969
    Intrust Bank 13 6.02% $3,462
    NBKC BANK 13 5.96% $5,705
    NEWREZ LLC 12 6.57% $12,570
    US MORTGAGE CORPORATION 11 6.63% $7,967
    Mr. Cooper ( Nationstar Mortgage ) 11 5.90% $12,727
    Flagstar Bank, FSB 11 6.43% $7,890
    PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.74% $6,271
    HOMESIDE FINANCIAL, LLC 9 6.39% $8,400
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 6.95% $7,853
    BROKER SOLUTIONS, INC. 7 6.89% $9,475
    Barrington Bank & Trust Company, N.A. 7 6.32% $7,400
    Members Mortgage Services, L.L.C. 6 6.29% $8,479
    Sunflower Bank 6 6.38% $6,737
    The Federal Savings Bank 6 6.92% $14,091
    The Loan Store, Inc. 6 6.94% $10,295
    Paramount Residential Mortgage Group, Inc. 5 6.23% $4,666
    AMERISAVE MORTGAGE CORPORATION 5 5.75% $12,548
    Community National Bank & Trust 5 6.78% $6,238
    CREDIT UNION OF AMERICA 5 6.88% $6,019
    CMG MORTGAGE, INC. 4 5.81% $12,701
    GUARANTEED RATE, INC. 4 5.91% $7,995
    SUN WEST MORTGAGE COMPANY, INC. 4 6.34% $11,764
    West Gate Bank 3 6.79% $8,636
    The Central Trust Bank 3 6.54% $5,810
    Armed Forces Bank 3 6.33% $12,941
    THRIVE MORTGAGE, LLC 3 6.58% $15,267
    GUILD MORTGAGE COMPANY 3 6.29% $9,669
    Mortgage Investment Services Corporation 3 7.29% $5,848
    CROSSCOUNTRY MORTGAGE, LLC 3 6.58% $9,114
    LEADERONE FINANCIAL CORPORATION 3 6.42% $14,530
    NBH Bank 2 5.88% $7,222
    LAKEVIEW LOAN SERVICING, LLC 2 6.75% $10,625
    MID AMERICA MORTGAGE, INC. 2 7.31% $3,269
    M&T Bank 2 5.69% $6,318
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $14,923
    Oakstar Bank 2 5.94% $4,802
    CARDINAL FINANCIAL 2 6.25% $16,739
    CALIBER HOME LOANS, INC. 2 5.69% $7,719
    PREMIA MORTGAGE, LLC 2 5.38% $9,378
    Wells Fargo Bank 2 6.44% $5,106
    AMERICAN FINANCIAL NETWORK, INC. 2 6.94% $2,707
    North American Savings Bank, F.S.B. 1 5.63% $15,095
    Northpointe Bank 1 5.38% $12,913
    AMERICAN FINANCING CORPORATION 1 5.25% $10,808
    U.S. Bank 1 6.25% $8,968
    Mid-Continent Funding, Inc. 1 6.25% $2,319
    Peak Financial 1 6.50% $10,037
    Capitol Federal Savings Bank 1 7.25% $4,926
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.25% $9,996
    BAY EQUITY LLC 1 6.75% $2,051
    Bank of the West 1 6.38% $10,461
    First Federal Bank 1 6.63% $7,608
    Bank of America 1 6.13% $2,326
    Arvest Bank 1 6.00% $10,203
    Prosperity Home Mortgage, LLC 1 6.25% $12,132
    DAS Acquisition Company, LLC 1 7.75% $520
    LOANPAL, LLC 1 6.38% $9,561
    Renasant Bank 1 5.75% $10,071
    AmeriHome Mortgage Company, LLC 1 4.99% $13,964
    GREENSTATE CREDIT UNION 1 6.38% $10,938
    DELMAR FINANCIAL COMPANY 1 6.75% $6,751
    LAND HOME FINANCIAL SERVICES, INC. 1 7.00% $7,905
    Farmers Bank & Trust 1 5.75% $14,800
    ZILLOW HOME LOANS, LLC 1 6.25% $10,600
    FIRST COMMUNITY MORTGAGE, INC. 1 5.13% $12,708
    American Mortgage & Equity Consultants, Inc. 1 5.75% $7,376
    CORNERSTONE HOME LENDING, INC. 1 4.99% $18,544
    Nations Lending Corporation 1 5.38% $16,834
    MOVEMENT MORTGAGE, LLC 1 7.13% $3,688
    Community First National Bank 1 7.00% $3,641
    COMMUNITYAMERICA 1 5.63% $3,090
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $175

    The top Wichita VA lender as defined by loan originations is Mortgage Research Center, LLC, with 246 VA loans originated. Their average total fees are $5,966, which is $2,593 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Wichita VA lenders (with over 10 loans originated) are Intrust Bank ($3,462), NAVY FEDERAL CREDIT UNION ($5,152), NBKC BANK ($5,705), Mortgage Research Center, LLC ($5,966) and Plains Commerce Bank ($6,190).

    The lowest rate Wichita VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.84%), Mr. Cooper ( Nationstar Mortgage ) (5.90%), NAVY FEDERAL CREDIT UNION (5.95%), NBKC BANK (5.96%) and Intrust Bank (6.02%).

    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%) $254,635 (11.7%) 0.65 2,084
    2018-10-01 $194,900 (12.8%) $253,801 (12.0%) 0.66 2,151
    2018-11-01 $185,000 (6.5%) $245,696 (9.2%) 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%) $273,099 (13.4%) 0.67 1,761
    2019-04-01 $217,400 (5.6%) $281,186 (11.9%) 0.69 1,745
    2019-05-01 $222,875 (8.7%) $279,919 (11.4%) 0.70 1,763
    2019-06-01 $219,900 (10.0%) $278,135 (10.3%) 0.69 1,711
    2019-07-01 $209,950 (4.6%) $270,477 (4.3%) 0.66 1,761
    2019-08-01 $208,236 (4.2%) $268,351 (3.3%) 0.66 1,757
    2019-09-01 $209,228 (8.5%) $269,233 (5.7%) 0.67 1,727
    2019-10-01 $209,890 (7.7%) $269,821 (6.3%) 0.68 1,707
    2019-11-01 $207,650 (12.2%) $266,908 (8.6%) 0.68 1,594
    2019-12-01 $199,700 (8.0%) $260,578 (6.8%) 0.67 1,480
    2020-01-01 $199,469 (5.8%) $259,201 (5.3%) 0.67 1,388
    2020-02-01 $204,925 (2.9%) $268,510 (4.2%) 0.67 1,311
    2020-03-01 $212,375 (3.0%) $274,182 (0.4%) 0.67 1,266
    2020-04-01 $222,800 (2.5%) $279,870 (-0.5%) 0.70 1,236
    2020-05-01 $234,900 (5.4%) $286,376 (2.3%) 0.71 1,183
    2020-06-01 $248,350 (12.9%) $297,870 (7.1%) 0.73 1,069
    2020-07-01 $248,400 (18.3%) $299,324 (10.7%) 0.72 1,008
    2020-08-01 $245,000 (17.7%) $298,717 (11.3%) 0.70 1,000
    2020-09-01 $229,900 (9.9%) $285,977 (6.2%) 0.66 996
    2020-10-01 $229,900 (9.5%) $281,562 (4.4%) 0.66 1,045
    2020-11-01 $226,300 (9.0%) $278,005 (4.2%) 0.66 1,029
    2020-12-01 $220,000 (10.2%) $272,428 (4.6%) 0.65 915
    2021-01-01 $224,538 (12.6%) $277,484 (7.1%) 0.67 788
    2021-02-01 $243,076 (18.6%) $299,011 (11.4%) 0.71 637
    2021-03-01 $239,950 (13.0%) $301,509 (10.0%) 0.68 583
    2021-04-01 $239,000 (7.3%) $296,411 (5.9%) 0.65 534
    2021-05-01 $235,000 (0.0%) $288,391 (0.7%) 0.62 611
    2021-06-01 $223,463 (-10.0%) $285,072 (-4.3%) 0.59 686
    2021-07-01 $220,000 (-11.4%) $279,508 (-6.6%) 0.58 786
    2021-08-01 $215,000 (-12.2%) $278,071 (-6.9%) 0.57 882
    2021-09-01 $207,125 (-9.9%) $275,800 (-3.6%) 0.55 873
    2021-10-01 $220,000 (-4.3%) $280,920 (-0.2%) 0.59 873
    2021-11-01 $222,475 (-1.7%) $290,260 (4.4%) 0.59 785
    2021-12-01 $229,950 (4.5%) $291,896 (7.2%) 0.62 675
    2022-01-01 $244,965 (9.1%) $312,108 (12.5%) 0.66 550
    2022-02-01 $252,450 (3.9%) $313,959 (5.0%) 0.66 486
    2022-03-01 $254,900 (6.2%) $315,249 (4.6%) 0.64 490
    2022-04-01 $268,500 (12.3%) $318,018 (7.3%) 0.64 505
    2022-05-01 $269,950 (14.9%) $333,680 (15.7%) 0.62 562
    2022-06-01 $277,475 (24.2%) $341,232 (19.7%) 0.62 685
    2022-07-01 $280,000 (27.3%) $340,658 (21.9%) 0.63 840
    2022-08-01 $290,000 (34.9%) $342,925 (23.3%) 0.67 850
    2022-09-01 $290,130 (40.1%) $348,670 (26.4%) 0.68 850
    2022-10-01 $303,950 (38.2%) $352,023 (25.3%) 0.72 957
    2022-11-01 $290,000 (30.4%) $348,076 (19.9%) 0.70 1,031
    2022-12-01 $289,900 (26.1%) $349,198 (19.6%) 0.72 944
    2023-01-01 $299,000 (22.1%) $357,831 (14.7%) 0.74 891
    2023-02-01 $319,995 (26.8%) $365,473 (16.4%) 0.77 858
    2023-03-01 $319,621 (25.4%) $371,358 (17.8%) 0.75 879
    2023-04-01 $318,394 (18.6%) $372,478 (17.1%) 0.74 884
    2023-05-01 $320,000 (18.5%) $374,826 (12.3%) 0.73 898
    2023-06-01 $315,657 (13.8%) $373,542 (9.5%) 0.71 1,003
    2023-07-01 $300,850 (7.5%) $366,674 (7.6%) 0.68 1,028
    2023-08-01 $299,000 (3.1%) $356,654 (4.0%) 0.69 1,066
    2023-09-01 $299,000 (3.1%) $352,588 (1.1%) 0.70 1,167
    2023-10-01 $298,950 (-1.7%) $354,662 (0.8%) 0.70 1,238
    2023-11-01 $294,575 (1.6%) $355,842 (2.2%) 0.70 1,268
    2023-12-01 $294,900 (1.7%) $360,982 (3.4%) 0.72 1,162
    2024-01-01 $297,000 (-0.7%) $368,532 (3.0%) 0.73 1,046
    2024-02-01 $302,450 (-5.5%) $373,271 (2.1%) 0.73 1,015
    2024-03-01 $325,000 (1.7%) $377,793 (1.7%) 0.76 1,039
    2024-04-01 $324,900 (2.0%) $382,892 (2.8%) 0.76 1,112
    2024-05-01 $346,791 (8.4%) $398,907 (6.4%) 0.78 1,143
    2024-06-01 $329,000 (4.2%) $385,978 (3.3%) 0.74 1,259
    2024-07-01 $310,500 (3.2%) $361,635 (-1.4%) 0.71 1,452
    2024-08-01 $300,000 (0.3%) $355,293 (-0.4%) 0.70 1,485
    2024-09-01 $292,700 (-2.1%) $357,962 (1.5%) 0.69 1,610
    2024-10-01 $290,000 (-3.0%) $356,048 (0.4%) 0.68 1,658
    Wichita's median listing price for 2024-10-01 was $290,000, a difference of $-8,950 (-3.0%) versus the prior year and $-2,700 versus the prior month.

    Wichita's median listing price comes in at 68% of the national average.

    Wichita's average listing price for 2024-10-01 was $356,048, a difference of $1,386 (0.4%) versus the prior year and $-1,914 versus the prior month.

    For the 2024-10-01 period, Wichita had 1,658 MLS listings, a difference of 48 listings (3%) versus the prior month and 420 listings (34%) 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 71 days 2,079 sqft
    2018-02-01 69 days 2,114 sqft
    2018-03-01 47 days 2,168 sqft
    2018-04-01 43 days 2,205 sqft
    2018-05-01 40 days 2,248 sqft
    2018-06-01 43 days 2,237 sqft
    2018-07-01 48 days 2,243 sqft
    2018-08-01 51 days 2,244 sqft
    2018-09-01 47 days 2,211 sqft
    2018-10-01 51 days 2,181 sqft
    2018-11-01 52 days 2,159 sqft
    2018-12-01 63 days 2,109 sqft
    2019-01-01 72 days 2,113 sqft
    2019-02-01 66 days 2,116 sqft
    2019-03-01 56 days 2,134 sqft
    2019-04-01 44 days 2,207 sqft
    2019-05-01 43 days 2,237 sqft
    2019-06-01 44 days 2,264 sqft
    2019-07-01 45 days 2,188 sqft
    2019-08-01 49 days 2,179 sqft
    2019-09-01 56 days 2,208 sqft
    2019-10-01 61 days 2,226 sqft
    2019-11-01 60 days 2,162 sqft
    2019-12-01 68 days 2,107 sqft
    2020-01-01 70 days 2,074 sqft
    2020-02-01 65 days 2,112 sqft
    2020-03-01 60 days 2,114 sqft
    2020-04-01 61 days 2,202 sqft
    2020-05-01 66 days 2,213 sqft
    2020-06-01 59 days 2,249 sqft
    2020-07-01 49 days 2,270 sqft
    2020-08-01 48 days 2,258 sqft
    2020-09-01 47 days 2,198 sqft
    2020-10-01 50 days 2,176 sqft
    2020-11-01 51 days 2,106 sqft
    2020-12-01 59 days 2,048 sqft
    2021-01-01 71 days 2,036 sqft
    2021-02-01 64 days 2,028 sqft
    2021-03-01 65 days 2,002 sqft
    2021-04-01 70 days 1,996 sqft
    2021-05-01 51 days 2,012 sqft
    2021-06-01 42 days 1,973 sqft
    2021-07-01 40 days 1,977 sqft
    2021-08-01 42 days 1,966 sqft
    2021-09-01 50 days 1,935 sqft
    2021-10-01 44 days 1,986 sqft
    2021-11-01 43 days 1,932 sqft
    2021-12-01 51 days 1,891 sqft
    2022-01-01 58 days 1,817 sqft
    2022-02-01 43 days 1,863 sqft
    2022-03-01 37 days 1,905 sqft
    2022-04-01 34 days 2,015 sqft
    2022-05-01 33 days 2,052 sqft
    2022-06-01 32 days 2,110 sqft
    2022-07-01 34 days 2,105 sqft
    2022-08-01 40 days 2,124 sqft
    2022-09-01 43 days 2,104 sqft
    2022-10-01 42 days 2,146 sqft
    2022-11-01 42 days 2,094 sqft
    2022-12-01 59 days 2,078 sqft
    2023-01-01 67 days 2,015 sqft
    2023-02-01 56 days 2,016 sqft
    2023-03-01 48 days 2,023 sqft
    2023-04-01 44 days 2,015 sqft
    2023-05-01 44 days 2,061 sqft
    2023-06-01 38 days 2,069 sqft
    2023-07-01 40 days 2,061 sqft
    2023-08-01 42 days 2,016 sqft
    2023-09-01 43 days 2,028 sqft
    2023-10-01 44 days 2,050 sqft
    2023-11-01 46 days 2,057 sqft
    2023-12-01 58 days 2,040 sqft
    2024-01-01 72 days 2,015 sqft
    2024-02-01 69 days 2,043 sqft
    2024-03-01 42 days 2,043 sqft
    2024-04-01 41 days 2,069 sqft
    2024-05-01 37 days 2,216 sqft
    2024-06-01 39 days 2,183 sqft
    2024-07-01 41 days 2,140 sqft
    2024-08-01 43 days 2,084 sqft
    2024-09-01 45 days 2,070 sqft
    2024-10-01 49 days 2,037 sqft
    Wichita's median listing age (time on market) for 2024-10-01 was 49 days. This is 11% longer than the same period one year ago.

    Wichita's median square footage for active listings during the 2024-10-01 period was 2,037 sqft. One year prior, the average listing was 2,050 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.