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%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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
CALIBER HOME LOANS, INC. 31 2.63% $3,002
Regent Financial Group, Inc. 31 2.69% $4,988
Wells Fargo Bank 30 2.52% $4,559
LAKEVIEW LOAN SERVICING, LLC 30 2.65% $2,721
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
PRIMELENDING, A PLAINSCAPITAL COMPANY 14 2.88% $4,758
Intrust Bank 14 2.57% $5,232
ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.08% $6,795
Barrington Bank & Trust Company, N.A. 14 2.78% $2,300
AMERISAVE MORTGAGE CORPORATION 13 2.63% $3,969
AMERICAN FINANCIAL NETWORK, INC. 12 2.43% $6,804
MORTGAGE 1 INCORPORATED 12 3.40% $5,637
North American Savings Bank, F.S.B. 11 2.36% $2,339
NEWREZ LLC 10 2.66% $3,636
GUILD MORTGAGE COMPANY 10 2.50% $4,407
CMG MORTGAGE, INC. 10 2.61% $9,479
SUN WEST MORTGAGE COMPANY, INC. 9 2.59% $3,239
Community First National Bank 9 2.56% $6,981
Carrington Mortgage Services, LLC 9 2.75% $6,796
U.S. Bank 9 2.78% $8,051
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.69% $4,946
MUTUAL OF OMAHA MORTGAGE, INC. 8 2.52% $5,158
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
AMERICAN FINANCING CORPORATION 5 2.85% $4,416
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
MID AMERICA MORTGAGE, INC. 5 2.95% $2,797
Magnolia Bank 5 2.68% $8,443
First Federal Bank 5 4.02% $8,766
NBH Bank 4 2.69% $9,448
AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.16% $4,871
Truist 4 2.65% $1,675
TJC Mortgage, Inc. 4 2.31% $4,834
The Central Trust Bank 4 2.63% $10,691
INLAND BANK & TRUST 4 2.78% $5,989
STEARNS LENDING, LLC 4 2.25% $1,424
Mortgage Investment Services Corporation 4 3.00% $3,209
MOVEMENT MORTGAGE, LLC 4 3.06% $2,961
Members Mortgage Services, L.L.C. 3 2.54% $7,178
M&T Bank 3 2.79% $7,925
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.58% $6,225
First Guaranty Mortgage Corporation 3 3.21% $5,912
VILLAGE CAPITAL MORTGAGE 3 2.54% $4,219
PLAZA HOME MORTGAGE, INC. 3 3.13% $4,057
NP, Inc. 3 2.58% $3,880
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 $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 for 2022-12-01 was $289,000, a difference of $59,050 (25.7%) versus the prior year and $-2,000 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-12-01 was 64 days. This is 23% longer than the same period one year ago.

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.

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.