Wichita VA Loan Rates, Closing Costs & Stats

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 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 6.55% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.46% and one month ago for the week of 2024-06-07, the average rate was 6.68%.

The average rate one year ago was 6.85%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.53%.

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 $329,260 (4.3%) $385,978 (3.3%) 0.74 1,259
Wichita's median listing price for 2024-06-01 was $329,260, a difference of $13,603 (4.3%) versus the prior year and $-17,531 versus the prior month.

Wichita's median listing price comes in at 74% of the national average.

Wichita's average listing price for 2024-06-01 was $385,978, a difference of $12,436 (3.3%) versus the prior year and $-12,929 versus the prior month.

For the 2024-06-01 period, Wichita had 1,259 MLS listings, a difference of 116 listings (10%) versus the prior month and 256 listings (26%) 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 2,192 sqft
Wichita's median listing age (time on market) for 2024-06-01 was 39 days. This is 3% longer than the same period one year ago.

Wichita's median square footage for active listings during the 2024-06-01 period was 2,192 sqft. One year prior, the average listing was 2,069 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.