Wichita VA Loans

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 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 5.57% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.58% and one month ago for the week of 2022-04-15, the average rate was 5.05%.

    The average rate one year ago was 3.24%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.48%.

    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 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. Total Fees
    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
    Regent Financial Group, Inc. 31 2.69% $4,988
    CALIBER HOME LOANS, INC. 31 2.63% $3,002
    LAKEVIEW LOAN SERVICING, LLC 30 2.65% $2,721
    Wells Fargo Bank 30 2.52% $4,559
    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
    Barrington Bank & Trust Company, N.A. 14 2.78% $2,300
    Intrust Bank 14 2.57% $5,232
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.08% $6,795
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 2.88% $4,758
    AMERISAVE MORTGAGE CORPORATION 13 2.63% $3,969
    MORTGAGE 1 INCORPORATED 12 3.40% $5,637
    AMERICAN FINANCIAL NETWORK, INC. 12 2.43% $6,804
    North American Savings Bank, F.S.B. 11 2.36% $2,339
    CMG MORTGAGE, INC. 10 2.61% $9,479
    NEWREZ LLC 10 2.66% $3,636
    GUILD MORTGAGE COMPANY 10 2.50% $4,407
    U.S. Bank 9 2.78% $8,051
    Carrington Mortgage Services, LLC 9 2.75% $6,796
    SUN WEST MORTGAGE COMPANY, INC. 9 2.59% $3,239
    Community First National Bank 9 2.56% $6,981
    MUTUAL OF OMAHA MORTGAGE, INC. 8 2.52% $5,158
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.69% $4,946
    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
    First Federal Bank 5 4.02% $8,766
    Magnolia Bank 5 2.68% $8,443
    MID AMERICA MORTGAGE, INC. 5 2.95% $2,797
    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
    AMERICAN FINANCING CORPORATION 5 2.85% $4,416
    NBH Bank 4 2.69% $9,448
    TJC Mortgage, Inc. 4 2.31% $4,834
    Truist Bank 4 2.65% $1,675
    INLAND BANK & TRUST 4 2.78% $5,989
    STEARNS LENDING, LLC 4 2.25% $1,424
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.16% $4,871
    Mortgage Investment Services Corporation 4 3.00% $3,209
    MOVEMENT MORTGAGE, LLC 4 3.06% $2,961
    The Central Trust Bank 4 2.63% $10,691
    First Guaranty Mortgage Corporation 3 3.21% $5,912
    NP, Inc. 3 2.58% $3,880
    Manufacturers and Traders Trust Company 3 2.79% $7,925
    VILLAGE CAPITAL & INVESTMENT LLC 3 2.54% $4,219
    Members Mortgage Services, L.L.C. 3 2.54% $7,178
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.58% $6,225
    PLAZA HOME MORTGAGE, INC. 3 3.13% $4,057
    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 $172,000 (4.3%) $226,787 (2.9%) 0.63 1,976
    2018-02-01 $179,900 (8.4%) $232,943 (4.7%) 0.65 1,813
    2018-03-01 $189,900 (7.3%) $237,229 (3.0%) 0.66 1,772
    2018-04-01 $199,950 (9.5%) $249,044 (6.0%) 0.67 1,800
    2018-05-01 $200,000 (5.3%) $248,948 (3.3%) 0.67 1,928
    2018-06-01 $199,900 (7.2%) $249,778 (4.1%) 0.67 2,046
    2018-07-01 $199,918 (8.1%) $256,935 (8.5%) 0.67 2,015
    2018-08-01 $199,700 (10.7%) $258,577 (10.3%) 0.67 2,029
    2018-09-01 $189,900 (8.5%) $252,124 (10.2%) 0.64 2,092
    2018-10-01 $190,000 (11.8%) $251,504 (10.8%) 0.64 2,126
    2018-11-01 $184,450 (8.5%) $244,263 (8.3%) 0.62 2,166
    2018-12-01 $184,000 (8.2%) $243,188 (7.9%) 0.63 2,040
    2019-01-01 $186,750 (8.6%) $243,985 (7.6%) 0.64 1,907
    2019-02-01 $195,433 (8.6%) $254,171 (9.1%) 0.65 1,799
    2019-03-01 $203,343 (7.1%) $260,821 (9.9%) 0.66 1,741
    2019-04-01 $212,500 (6.3%) $269,041 (8.0%) 0.67 1,731
    2019-05-01 $219,450 (9.7%) $276,528 (11.1%) 0.68 1,744
    2019-06-01 $217,310 (8.7%) $274,381 (9.9%) 0.67 1,709
    2019-07-01 $204,950 (2.5%) $265,957 (3.5%) 0.64 1,737
    2019-08-01 $199,900 (0.1%) $260,622 (0.8%) 0.63 1,788
    2019-09-01 $202,525 (6.7%) $261,898 (3.9%) 0.64 1,759
    2019-10-01 $218,500 (15.0%) $273,887 (8.9%) 0.70 1,684
    2019-11-01 $209,000 (13.3%) $267,448 (9.5%) 0.67 1,593
    2019-12-01 $199,250 (8.3%) $260,468 (7.1%) 0.66 1,501
    2020-01-01 $199,400 (6.8%) $260,591 (6.8%) 0.66 1,390
    2020-02-01 $207,250 (6.1%) $270,900 (6.6%) 0.67 1,305
    2020-03-01 $223,400 (9.9%) $285,863 (9.6%) 0.70 1,248
    2020-04-01 $229,900 (8.2%) $289,881 (7.8%) 0.72 1,243
    2020-05-01 $246,275 (12.2%) $298,252 (7.9%) 0.75 1,186
    2020-06-01 $259,450 (19.4%) $311,805 (13.6%) 0.76 1,057
    2020-07-01 $249,900 (21.9%) $302,556 (13.8%) 0.72 993
    2020-08-01 $250,000 (25.1%) $305,971 (17.4%) 0.71 974
    2020-09-01 $242,000 (19.5%) $302,148 (15.4%) 0.69 956
    2020-10-01 $239,900 (9.8%) $296,233 (8.2%) 0.69 1,014
    2020-11-01 $236,025 (12.9%) $288,811 (8.0%) 0.68 1,005
    2020-12-01 $222,500 (11.7%) $277,138 (6.4%) 0.65 917
    2021-01-01 $225,000 (12.8%) $286,119 (9.8%) 0.66 782
    2021-02-01 $247,450 (19.4%) $302,500 (11.7%) 0.71 625
    2021-03-01 $249,165 (11.5%) $306,704 (7.3%) 0.70 547
    2021-04-01 $239,500 (4.2%) $297,100 (2.5%) 0.64 504
    2021-05-01 $235,000 (-4.6%) $286,989 (-3.8%) 0.62 571
    2021-06-01 $224,950 (-13.3%) $284,647 (-8.7%) 0.58 666
    2021-07-01 $219,700 (-12.1%) $279,931 (-7.5%) 0.57 747
    2021-08-01 $216,505 (-13.4%) $281,107 (-8.1%) 0.57 850
    2021-09-01 $207,500 (-14.3%) $275,197 (-8.9%) 0.55 854
    2021-10-01 $220,000 (-8.3%) $283,150 (-4.4%) 0.58 838
    2021-11-01 $224,750 (-4.8%) $292,933 (1.4%) 0.59 758
    2021-12-01 $229,950 (3.4%) $293,602 (5.9%) 0.61 671
    2022-01-01 $247,128 (9.8%) $315,623 (10.3%) 0.66 533
    2022-02-01 $252,450 (2.0%) $313,766 (3.7%) 0.64 462
    2022-03-01 $254,900 (2.3%) $315,778 (3.0%) 0.63 452
    2022-04-01 $265,000 (10.7%) $316,424 (6.5%) 0.62 492
    Wichita's median listing price for 2022-04-01 was $265,000, a difference of $25,500 (10.7%) versus the prior year and $10,100 versus the prior month.

    Wichita's median listing price comes in at 62% of the national average.

    Wichita's average listing price for 2022-04-01 was $316,424, a difference of $19,324 (6.5%) versus the prior year and $646 versus the prior month.

    For the 2022-04-01 period, Wichita had 492 MLS listings, a difference of 40 listings (9%) versus the prior month and -12 listings (-2%) 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 78 days 2,094 sqft
    2018-02-01 79 days 2,137 sqft
    2018-03-01 57 days 2,190 sqft
    2018-04-01 49 days 2,251 sqft
    2018-05-01 45 days 2,260 sqft
    2018-06-01 45 days 2,250 sqft
    2018-07-01 52 days 2,262 sqft
    2018-08-01 57 days 2,261 sqft
    2018-09-01 53 days 2,218 sqft
    2018-10-01 57 days 2,203 sqft
    2018-11-01 57 days 2,166 sqft
    2018-12-01 66 days 2,127 sqft
    2019-01-01 76 days 2,115 sqft
    2019-02-01 73 days 2,138 sqft
    2019-03-01 57 days 2,159 sqft
    2019-04-01 47 days 2,215 sqft
    2019-05-01 47 days 2,258 sqft
    2019-06-01 49 days 2,255 sqft
    2019-07-01 50 days 2,216 sqft
    2019-08-01 52 days 2,193 sqft
    2019-09-01 56 days 2,203 sqft
    2019-10-01 58 days 2,257 sqft
    2019-11-01 61 days 2,228 sqft
    2019-12-01 69 days 2,115 sqft
    2020-01-01 75 days 2,083 sqft
    2020-02-01 72 days 2,121 sqft
    2020-03-01 57 days 2,197 sqft
    2020-04-01 58 days 2,241 sqft
    2020-05-01 64 days 2,272 sqft
    2020-06-01 58 days 2,303 sqft
    2020-07-01 54 days 2,295 sqft
    2020-08-01 49 days 2,328 sqft
    2020-09-01 43 days 2,262 sqft
    2020-10-01 42 days 2,231 sqft
    2020-11-01 45 days 2,187 sqft
    2020-12-01 56 days 2,053 sqft
    2021-01-01 60 days 2,048 sqft
    2021-02-01 61 days 2,052 sqft
    2021-03-01 55 days 2,050 sqft
    2021-04-01 51 days 2,029 sqft
    2021-05-01 38 days 2,015 sqft
    2021-06-01 39 days 1,974 sqft
    2021-07-01 38 days 1,995 sqft
    2021-08-01 37 days 1,992 sqft
    2021-09-01 42 days 1,959 sqft
    2021-10-01 42 days 1,982 sqft
    2021-11-01 45 days 1,961 sqft
    2021-12-01 54 days 1,908 sqft
    2022-01-01 66 days 1,869 sqft
    2022-02-01 57 days 1,900 sqft
    2022-03-01 46 days 1,951 sqft
    2022-04-01 37 days 2,015 sqft
    Wichita's median listing age (time on market) for 2022-04-01 was 37 days. This is -27% shorter than the same period one year ago.

    Wichita's median square footage for active listings during the 2022-04-01 period was 2,015 sqft. One year prior, the average listing was 2,029 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.