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Wichita

Current Mortgage Rates in Wichita, Kansas

Compare mortgage rates and fees for leading lenders in Wichita, KS. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Wichita.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Wichita. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Wichita, KS as of January 19, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Wichita, KS Mortgage Rates Compare?

January 19, 2020

The current average rate for a 30 year fixed rate mortgage in Wichita is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Wichita, KS Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Wichita, Kansas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Wichita. Understand how much you need to earn to afford a home in Wichita, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Wichita fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Wichita is right for you.

The median home value for Wichita, KS (Sedgwick County) is $159,546

Based on current mortgage rates and a 10% down payment, you need to make $28,714 per year to buy the median priced home in Wichita

With this income, you could qualify for a $143,592 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Wichita is $665

The median household income for Wichita, KS (Sedgwick County) is $55,728

Based on this income, you can afford a home valued at approximately $309,646

The home price you can afford to buy based on household income in Wichita is 194% of the median home value which means housing prices are average. Wichita (Sedgwick County) ranks 99 out of 105 counties in Kansas and 1,698 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Wichita, KS is average

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Loan Limits for Wichita, Kansas

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Wichita (Sedgwick County) below.

Conforming loan limits for Wichita, KS

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Wichita, KS

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Wichita, KS

1 unit: $510,400

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