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Wichita Falls

Current Mortgage Rates in Wichita Falls, Texas

Compare mortgage rates and fees for leading lenders in Wichita Falls, TX. 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 Falls.

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 Falls. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Wichita Falls, TX as of April 3, 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 Falls, TX Mortgage Rates Compare?

April 3, 2020

The current average rate for a 30 year fixed rate mortgage in Wichita Falls 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 Falls, TX Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Wichita Falls, Texas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Wichita Falls. Understand how much you need to earn to afford a home in Wichita Falls, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Wichita Falls 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 Falls is right for you.

The median home value for Wichita Falls, TX (Wichita County) is $112,612

Based on current mortgage rates and a 10% down payment, you need to make $20,267 per year to buy the median priced home in Wichita Falls

With this income, you could qualify for a $101,351 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 Falls is $469

The median household income for Wichita Falls, TX (Wichita County) is $48,277

Based on this income, you can afford a home valued at approximately $268,246

The home price you can afford to buy based on household income in Wichita Falls is 238% of the median home value which means housing prices are affordable. Wichita Falls (Wichita County) ranks 136 out of 254 counties in Texas and 874 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Wichita Falls, TX is affordable

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Loan Limits for Wichita Falls, Texas

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

Conforming loan limits for Wichita Falls, TX

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

FHA loan limits for Wichita Falls, TX

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

VA loan limits for Wichita Falls, TX

1 unit: $510,400

Additional Mortgage Resources for Wichita Falls, TX Residents

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