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 109 lenders originated 1,339 VA loans during 2022. The total origination value was $329,285,000, with an average VA loan value of $245,919.

Wichita VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Wichita averaged 6.22% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Wichita's average VA mortgage closing costs are $5,369.

The average rate for the prior week (2024-02-09) was 6.18% and one month ago for the week of 2024-01-12, the average rate was 6.04%.

The average rate one year ago was 5.8%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.11%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 217 5.03% $6,518
QUICKEN LOANS, LLC 77 4.39% $8,719
PENTAGON FEDERAL CREDIT UNION 61 3.83% $7,416
USAA Federal Savings Bank 56 4.68% $6,588
Gateway First Bank 44 4.77% $7,621
NAVY FEDERAL CREDIT UNION 44 4.40% $4,831
FREEDOM MORTGAGE CORPORATION 43 4.54% $8,706
Sierra Pacific Mortgage Company, Inc. 41 4.94% $8,901
LOANDEPOT.COM, LLC 39 4.94% $8,847
FLAT BRANCH MORTGAGE, INC. 38 4.98% $8,089
PENNYMAC LOAN SERVICES, LLC 36 3.58% $7,825
Fidelity Bank 35 5.01% $6,250
UNITED WHOLESALE MORTGAGE, LLC 32 4.67% $9,521
NEW DAY FINANCIAL, LLC 29 5.23% $9,465
HOME POINT FINANCIAL CORPORATION 25 4.34% $8,341
OPEN MORTGAGE, LLC 20 5.02% $6,362
NBKC BANK 20 4.16% $8,165
Flagstar Bank, FSB 20 3.82% $7,126
Mr. Cooper ( Nationstar Mortgage ) 19 4.61% $7,069
PLANET HOME LENDING, LLC 16 5.32% $6,253
ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 5.55% $6,538
Sunflower Bank 14 4.78% $4,656
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 5.16% $7,580
CMG MORTGAGE, INC. 14 4.50% $9,084
NEWREZ LLC 13 4.73% $7,444
Regent Financial Group, Inc. 13 4.58% $6,943
DELMAR FINANCIAL COMPANY 13 4.83% $8,548
FBC MORTGAGE, LLC 12 5.43% $4,841
The Federal Savings Bank 11 4.10% $10,048
GUILD MORTGAGE COMPANY 10 4.54% $4,782
AMERISAVE MORTGAGE CORPORATION 10 4.35% $13,132
DAS Acquisition Company, LLC 10 5.48% $8,532
US MORTGAGE CORPORATION 9 4.93% $8,680
CALIBER HOME LOANS, INC. 9 4.91% $8,819
Intrust Bank 9 4.44% $2,983
Plains Commerce Bank 9 4.83% $8,335
Members Mortgage Services, L.L.C. 9 4.69% $7,128
U.S. Bank 8 4.42% $11,118
GUARANTEED RATE, INC. 7 5.32% $5,044
LEADERONE FINANCIAL CORPORATION 6 5.56% $8,754
The Central Trust Bank 6 4.83% $10,630
Armed Forces Bank 6 5.06% $12,116
Equity Prime Mortgage LLC 6 5.63% $8,130
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 5.87% $10,100
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 4.88% $8,399
Barrington Bank & Trust Company, N.A. 5 4.72% $8,633
BROKER SOLUTIONS, INC. 5 5.05% $7,677
Wells Fargo Bank 5 4.50% $6,481
LAKEVIEW LOAN SERVICING, LLC 5 4.55% $9,345
EVERETT FINANCIAL, INC. 5 3.45% $6,180
MUTUAL OF OMAHA MORTGAGE, INC. 4 4.91% $9,457
INLAND BANK & TRUST 4 4.03% $6,494
CREDIT UNION OF AMERICA 4 5.13% $8,537
THRIVE MORTGAGE, LLC 4 4.59% $8,803
United Fidelity Funding Corp. 3 6.25% $11,505
First Federal Bank of Kansas City 3 4.46% $8,249
BNC National Bank 3 3.29% $2,136
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.58% $657
Nations Lending Corporation 3 5.08% $9,339
SUN WEST MORTGAGE COMPANY, INC. 3 4.92% $10,063
NBH Bank 2 6.25% $7,577
AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $5,586
BOKF 2 4.63% $6,703
Chambers Bank 2 4.50% $4,268
Community First National Bank 2 4.25% $6,804
CROSSCOUNTRY MORTGAGE, LLC 2 4.62% $7,889
First Federal Bank 2 5.19% $9,049
Magnolia Bank 2 5.13% $13,486
Mortgage Investment Services Corporation 2 4.38% $17,859
ACADEMY MORTGAGE CORPORATION 2 5.94% $10,590
North American Savings Bank, F.S.B. 2 4.00% $4,548
PHH Mortgage Corporation 2 4.31% $4,246
PREMIA MORTGAGE, LLC 2 5.00% $10,466
Prosperity Home Mortgage, LLC 2 4.94% $7,052
RELIANCE FIRST CAPITAL, LLC 2 5.69% $12,349
ROYAL UNITED MORTGAGE LLC 2 4.56% $8,630
Arvest Bank 1 5.38% $7,702
Landmark National Bank 1 4.88% $7,194
JPMorgan Chase Bank 1 3.25% $500
PLAZA HOME MORTGAGE, INC. 1 4.00% $8,649
Arbor Bank 1 4.99% $5,739
Ixonia Bank 1 3.50% $10,753
HOMESIDE FINANCIAL, LLC 1 3.88% $21,671
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.63% $9,763
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.75% $4,263
GUARANTEED RATE AFFINITY, LLC 1 4.88% $2,703
Victorian Finance, LLC 1 5.25% $10,791
AMERICAN INTERNET MORTGAGE, INC. 1 2.25% $19,527
Service Federal Credit Union 1 5.13% $4,784
First International Bank & Trust 1 4.75% $14,960
SUMMIT FUNDING, INC. 1 5.25% $22,954
FIRST COMMUNITY MORTGAGE, INC. 1 3.25% $1,112,177
DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $7,397
Texana Bank 1 4.25% $7,443
Commerce Bank 1 5.13% $1,609
CLARK COUNTY CREDIT UNION 1 4.88% $3,435
CHURCHILL MORTGAGE CORPORATION 1 5.63% $8,161
TOP FLITE FINANCIAL, INC. 1 6.13% $10,674
TRAVIS CREDIT UNION 1 5.63% $5,307
UNION HOME MORTGAGE CORP. 1 5.13% $1,775
Central National Bank 1 5.63% $5,805
UNITED MORTGAGE CORP 1 5.25% $19,482
Carrington Mortgage Services, LLC 1 4.75% $13,980
NETWORK CAPITAL FUNDING CORPORATION 1 4.13% $9,540
MOVEMENT MORTGAGE, LLC 1 4.63% $8,175
CARDINAL FINANCIAL 1 5.25% $12,347
MORIA DEVELOPMENT, INC. 1 3.88% $6,170
MID AMERICA MORTGAGE, INC. 1 5.63% $2,884
Low VA Rates, LLC 1 5.00% $125

The top Wichita VA lender as defined by loan originations is Mortgage Research Center, LLC, with 217 VA loans originated. Their average total fees are $6,518, which is $2,200 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Wichita VA lenders (with over 10 loans originated) are Sunflower Bank ($4,656), GUILD MORTGAGE COMPANY ($4,782), NAVY FEDERAL CREDIT UNION ($4,831), FBC MORTGAGE, LLC ($4,841) and Fidelity Bank ($6,250).

The lowest rate Wichita VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.58%), Flagstar Bank, FSB (3.82%), PENTAGON FEDERAL CREDIT UNION (3.83%), The Federal Savings Bank (4.10%) and NBKC BANK (4.16%).


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%) $259,316 (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
Wichita's median listing price for 2023-12-01 was $294,900, a difference of $5,000 (1.7%) versus the prior year and $325 versus the prior month.

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

Wichita's average listing price for 2023-12-01 was $360,982, a difference of $11,784 (3.4%) versus the prior year and $5,140 versus the prior month.

For the 2023-12-01 period, Wichita had 1,162 MLS listings, a difference of -106 listings (-8%) versus the prior month and 218 listings (23%) 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
Wichita's median listing age (time on market) for 2023-12-01 was 58 days. This is -1% shorter than the same period one year ago.

Wichita's median square footage for active listings during the 2023-12-01 period was 2,040 sqft. One year prior, the average listing was 2,078 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.