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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.