Wilmington FHA Loans
WILMINGTON, DE-MD-NJ
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote
home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and
credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores
between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)--
an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Wilmington's 169 lenders originated 5,067 FHA
loans during 2021. The total origination value was $1,228,935,000, with an average FHA loan value of
$242,537.
Wilmington FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Wilmington
averaged
4.82%
for the week of 2022-03-25, compared to the national average (all FHA variants) of
4.648% for the same period.
The average rate for the prior week (2022-03-18) was
4.43% and
one month ago for the week of 2022-02-18, the
average rate was 4.26%.
The average rate one year ago was 3.3%.
For refis of the same type during the week of 2022-03-25, the average rate
was 4.6%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Wilmington FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender
at the Wilmington level.
Name |
# of Loans |
2021 Avg. 30yFix Rate |
2021 Avg. Total Fees |
QUICKEN LOANS, LLC
|
373
|
2.71%
|
$6,988
|
Meridian Bank Corporation
|
278
|
3.29%
|
$8,876
|
PIKE CREEK MORTGAGE SERVICES, INC.
|
230
|
4.17%
|
$5,335
|
Huntingdon Valley Bank
|
173
|
3.32%
|
$9,146
|
PENNYMAC LOAN SERVICES, LLC
|
166
|
3.04%
|
$5,200
|
LAKEVIEW LOAN SERVICING, LLC
|
161
|
2.95%
|
$5,259
|
Evolve Bank & Trust
|
156
|
3.37%
|
$9,079
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
154
|
3.47%
|
$9,711
|
FREEDOM MORTGAGE CORPORATION
|
134
|
2.84%
|
$5,768
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
131
|
3.75%
|
$9,017
|
Mr. Cooper ( Nationstar Mortgage )
|
104
|
3.20%
|
$4,907
|
Prosperity Home Mortgage, LLC
|
101
|
3.35%
|
$7,703
|
NVR Mortgage Finance, Inc.
|
90
|
3.09%
|
$11,206
|
CALIBER HOME LOANS, INC.
|
83
|
2.80%
|
$6,923
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
83
|
3.44%
|
$9,524
|
CROSSCOUNTRY MORTGAGE, LLC
|
78
|
3.11%
|
$10,170
|
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP
|
70
|
3.33%
|
$9,135
|
NEWREZ LLC
|
69
|
2.95%
|
$6,442
|
RESIDENTIAL MORTGAGE SERVICES, INC.
|
67
|
2.98%
|
$8,584
|
NFM, INC.
|
62
|
3.10%
|
$8,217
|
GREENTREE MORTGAGE COMPANY, L.P.
|
61
|
2.78%
|
$6,688
|
Nations Lending Corporation
|
58
|
3.26%
|
$8,189
|
UNITED WHOLESALE MORTGAGE, LLC
|
58
|
2.82%
|
$8,507
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
57
|
2.61%
|
$7,267
|
EMBRACE HOME LOANS, INC.
|
55
|
3.11%
|
$8,306
|
GUARANTEED RATE, INC.
|
54
|
2.94%
|
$8,419
|
Carrington Mortgage Services, LLC
|
48
|
3.40%
|
$8,444
|
AMERICAN FINANCIAL NETWORK, INC.
|
47
|
3.32%
|
$13,057
|
VILLAGE CAPITAL & INVESTMENT LLC
|
45
|
2.89%
|
$2,887
|
AmeriHome Mortgage Company, LLC
|
42
|
2.78%
|
$5,310
|
The Federal Savings Bank
|
41
|
3.11%
|
$8,786
|
BROKER SOLUTIONS, INC.
|
38
|
3.24%
|
$8,674
|
FINANCE OF AMERICA MORTGAGE LLC
|
38
|
3.05%
|
$9,218
|
HOME POINT FINANCIAL CORPORATION
|
37
|
2.86%
|
$8,313
|
EMM LOANS LLC
|
34
|
3.24%
|
$9,992
|
ABSOLUTE HOME MORTGAGE CORPORATION
|
31
|
3.41%
|
$8,624
|
NATION ONE MORTGAGE CORPORATION
|
30
|
3.66%
|
$11,192
|
TIDEWATER MORTGAGE SERVICES, INC.
|
27
|
3.36%
|
$8,330
|
LOANDEPOT.COM, LLC
|
27
|
3.30%
|
$8,025
|
Bank of America
|
27
|
2.76%
|
$4,865
|
MOVEMENT MORTGAGE, LLC
|
26
|
3.23%
|
$7,753
|
Manufacturers and Traders Trust Company
|
24
|
2.73%
|
$8,044
|
AMERISAVE MORTGAGE CORPORATION
|
24
|
3.07%
|
$8,351
|
Equity Prime Mortgage LLC
|
22
|
3.16%
|
$9,722
|
Gateway First Bank
|
22
|
2.92%
|
$5,569
|
GUILD MORTGAGE COMPANY
|
20
|
3.40%
|
$8,417
|
ALLIED MORTGAGE GROUP, INC.
|
19
|
3.15%
|
$8,304
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
18
|
3.39%
|
$8,826
|
PLAZA HOME MORTGAGE, INC.
|
17
|
2.73%
|
$10,453
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
16
|
3.37%
|
$9,873
|
PLANET HOME LENDING, LLC
|
16
|
2.74%
|
$6,425
|
SOUTHERN TRUST MORTGAGE, LLC
|
15
|
3.11%
|
$5,180
|
First Home Bank
|
14
|
3.24%
|
$10,227
|
Keystone Funding, Inc.
|
14
|
2.71%
|
$7,940
|
Fulton Bank
|
13
|
3.19%
|
$7,430
|
DRAPER AND KRAMER MORTGAGE CORP.
|
13
|
3.39%
|
$8,946
|
Financial Freedom Mortgage, LLC
|
13
|
3.20%
|
$10,262
|
Northpointe Bank
|
12
|
3.18%
|
$8,779
|
LENDUS, LLC
|
12
|
3.28%
|
$10,396
|
GUARANTEED RATE AFFINITY, LLC
|
11
|
3.11%
|
$8,715
|
CMG MORTGAGE, INC.
|
11
|
3.31%
|
$9,333
|
PNC Bank
|
11
|
3.08%
|
$5,893
|
FIRST HOME MORTGAGE CORPORATION
|
11
|
3.22%
|
$12,816
|
Citizens Bank
|
11
|
2.74%
|
$6,930
|
SUN WEST MORTGAGE COMPANY, INC.
|
10
|
2.82%
|
$9,161
|
Wilmington Savings Fund Society, FSB
|
9
|
3.36%
|
$7,484
|
Acre Mortgage and Financial Inc
|
9
|
3.22%
|
$10,322
|
MORTGAGE ACCESS CORP.
|
9
|
3.53%
|
$8,932
|
OCEANSIDE MORTGAGE COMPANY
|
9
|
2.76%
|
$3,663
|
Paramount Residential Mortgage Group, Inc.
|
9
|
3.55%
|
$8,768
|
Mortgage America, Inc.
|
8
|
3.48%
|
$6,629
|
SWBC MORTGAGE CORPORATION
|
8
|
3.03%
|
$8,430
|
Mortgage Research Center, LLC
|
7
|
3.07%
|
$9,911
|
ACADEMY MORTGAGE CORPORATION
|
7
|
3.36%
|
$9,640
|
HOMESIDE FINANCIAL, LLC
|
7
|
3.05%
|
$7,015
|
HOMESPIRE MORTGAGE CORPORATION
|
7
|
3.18%
|
$9,687
|
Residential Mortgage Solutions, Inc.
|
7
|
2.91%
|
$8,152
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
7
|
3.02%
|
$7,633
|
Atlantic Home Loans, Inc.
|
6
|
3.14%
|
$9,094
|
Plains Commerce Bank
|
6
|
2.83%
|
$8,383
|
UNION HOME MORTGAGE CORP.
|
6
|
3.23%
|
$9,180
|
Florida Capital Bank
|
6
|
3.13%
|
$10,337
|
EVERETT FINANCIAL, INC.
|
6
|
3.40%
|
$6,531
|
First Guaranty Mortgage Corporation
|
6
|
2.88%
|
$7,960
|
ENVOY MORTGAGE, LTD
|
5
|
3.83%
|
$11,909
|
1st Colonial Community Bank
|
5
|
2.85%
|
$6,535
|
APEX HOME LOANS, INC.
|
5
|
3.25%
|
$10,493
|
InterContinental Capital Group, Inc
|
5
|
2.80%
|
$10,147
|
Lakeview Community Capital, LLC
|
5
|
2.90%
|
$5,324
|
FAMILY FIRST FUNDING LLC
|
5
|
3.20%
|
$7,521
|
MLB RESIDENTIAL LENDING, LLC
|
5
|
3.05%
|
$10,846
|
SUCCESS MORTGAGE PARTNERS, INC.
|
5
|
3.05%
|
$10,262
|
ROUNDPOINT MORTGAGE SERVICING CORPORATION
|
5
|
3.48%
|
$7,554
|
Home Mortgage Alliance Corp
|
4
|
3.44%
|
$7,510
|
ON Q FINANCIAL, INC.
|
4
|
3.03%
|
$8,902
|
JPMorgan Chase Bank
|
4
|
3.09%
|
$3,148
|
AMERICAN HERITAGE FCU
|
3
|
3.08%
|
$5,956
|
Mid Penn Bank
|
3
|
3.29%
|
$9,084
|
RESIDENTIAL HOME FUNDING CORP.
|
3
|
2.88%
|
$11,029
|
CONTOUR MORTGAGE CORPORATION
|
3
|
2.92%
|
$9,924
|
RESIDENTIAL BANCORP.
|
3
|
2.75%
|
$8,231
|
Republic Bank
|
3
|
2.88%
|
$5,091
|
AMERICAN FINANCIAL RESOURCES, INC.
|
3
|
2.92%
|
$7,085
|
Towne Bank
|
3
|
2.67%
|
$8,146
|
AmRes Corporation
|
3
|
3.46%
|
$7,158
|
DIRECT MORTGAGE LOANS, LLC
|
3
|
3.33%
|
$13,444
|
KELLER MORTGAGE, LLC
|
3
|
2.88%
|
$5,532
|
George Mason Mortgage, LLC
|
3
|
3.13%
|
$10,102
|
NP, Inc.
|
3
|
2.79%
|
$7,670
|
Bank of England
|
3
|
3.50%
|
$11,630
|
Atlantic Coast Mortgage, LLC
|
2
|
3.38%
|
$8,418
|
GUARANTY HOME MORTGAGE CORPORATION
|
2
|
2.88%
|
$12,811
|
First Federal Bank
|
2
|
3.19%
|
$12,943
|
FIDELITY DIRECT MORTGAGE, LLC
|
2
|
3.63%
|
$15,475
|
LEADERONE FINANCIAL CORPORATION
|
2
|
2.81%
|
$10,762
|
Evesham Mortgage, LLC
|
2
|
3.19%
|
$6,416
|
Credence Funding Corporation
|
2
|
2.44%
|
$6,642
|
Colonial Savings, F.A.
|
2
|
3.06%
|
$6,736
|
BETTER MORTGAGE CORPORATION
|
2
|
3.13%
|
$5,757
|
PHH Mortgage Corporation
|
2
|
3.38%
|
$6,298
|
Philadelphia Mortgage Advisors, Inc.
|
2
|
3.25%
|
$7,535
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
2
|
2.81%
|
$14,884
|
Princeton Mortgage Corporation
|
2
|
3.50%
|
$9,347
|
Quaint Oak Mortgage, LLC
|
2
|
3.00%
|
$9,968
|
RELIANCE FIRST CAPITAL, LLC
|
2
|
2.81%
|
$8,522
|
Sierra Pacific Mortgage Company, Inc.
|
2
|
3.19%
|
$11,469
|
STEARNS LENDING, LLC
|
2
|
2.75%
|
$9,513
|
AMERICAN FINANCING CORPORATION
|
2
|
3.13%
|
$8,968
|
Advisors Mortgage Group, L.L.C.
|
2
|
2.94%
|
$7,152
|
GSF Mortgage Corporation
|
2
|
2.88%
|
$10,939
|
Presidential Bank, FSB
|
1
|
2.88%
|
$8,393
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
2.25%
|
$13,670
|
HOMEAMERICAN MORTGAGE CORPORATION
|
1
|
2.38%
|
$6,784
|
UNIVERSAL MORTGAGE & FINANCE, INC.
|
1
|
3.75%
|
$8,308
|
Customers Bank
|
1
|
2.50%
|
$9,630
|
Univest Bank and Trust Co.
|
1
|
2.75%
|
$10,260
|
East Coast Capital Corp.
|
1
|
2.75%
|
$13,475
|
US MORTGAGE CORPORATION
|
1
|
3.13%
|
$5,941
|
Wells Fargo Bank
|
1
|
3.13%
|
$10,772
|
MORIA DEVELOPMENT, INC.
|
1
|
3.75%
|
$9,776
|
MILEND, INC.
|
1
|
3.25%
|
$9,242
|
American Mortgage Bank, LLC
|
1
|
3.25%
|
$9,297
|
MCLEAN MORTGAGE CORPORATION
|
1
|
3.00%
|
$6,386
|
Magnolia Bank
|
1
|
2.25%
|
$12,238
|
1ST PREFERENCE MORTGAGE CORP.
|
1
|
2.88%
|
$4,980
|
Low VA Rates, LLC
|
1
|
3.63%
|
$5,231
|
SOVEREIGN LENDING GROUP INCORPORATED
|
1
|
2.38%
|
$6,884
|
Waterstone Mortgage Corporation
|
1
|
3.38%
|
$7,764
|
LOANPAL, LLC
|
1
|
2.63%
|
$11,192
|
SUMMIT FUNDING, INC.
|
1
|
4.25%
|
$11,298
|
Summit Mortgage Corporation
|
1
|
3.13%
|
$12,230
|
Flagstar Bank, FSB
|
1
|
2.88%
|
$9,856
|
LENDING CAPITAL GROUP Inc
|
1
|
2.75%
|
$7,481
|
TD Bank
|
1
|
2.88%
|
$3,524
|
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
|
1
|
3.13%
|
$11,870
|
GENEVA FINANCIAL, LLC
|
1
|
2.88%
|
$6,708
|
TOTAL MORTGAGE SERVICES, LLC
|
1
|
3.13%
|
$9,689
|
WesBanco Bank, Inc.
|
1
|
2.75%
|
$11,292
|
Capital Bank
|
1
|
2.38%
|
$7,804
|
FirstBank
|
1
|
3.00%
|
$8,932
|
Truist Bank
|
1
|
2.88%
|
$8,018
|
FIRST HERITAGE FINANCIAL, LLC
|
1
|
3.25%
|
$5,607
|
BAY CAPITAL MORTGAGE CORPORATION
|
1
|
2.25%
|
$9,139
|
C & F Mortgage Corporation
|
1
|
2.25%
|
$9,851
|
Barrington Bank & Trust Company, N.A.
|
1
|
3.25%
|
$6,395
|
North American Savings Bank, F.S.B.
|
1
|
2.38%
|
$6,636
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
2.50%
|
$6,546
|
POLARIS HOME FUNDING CORP.
|
1
|
2.88%
|
$8,379
|
PREMIER LENDING, INC.
|
1
|
2.50%
|
$8,674
|
The top Wilmington FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
373 FHA loans originated. Their average total fees are
$6,988, which is $1,888
lower than the next largest lender,
Meridian Bank Corporation.
The lowest fee Wilmington FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,887), Bank of America ($4,865), Mr. Cooper ( Nationstar Mortgage ) ($4,907), SOUTHERN TRUST MORTGAGE, LLC ($5,180) and PENNYMAC LOAN SERVICES, LLC ($5,200).
The lowest rate Wilmington FHA lenders (with over 10 loans originated) are
HOMEBRIDGE FINANCIAL SERVICES, INC. (2.61%), Keystone Funding, Inc. (2.71%), QUICKEN LOANS, LLC (2.71%), PLAZA HOME MORTGAGE, INC. (2.73%) and Manufacturers and Traders Trust Company (2.73%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Wilmington (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 |
$229,995 (5.0%) |
$343,281 (3.3%) |
0.85 |
20,339 |
2018-02-01 |
$237,000 (7.8%) |
$345,647 (2.3%) |
0.85 |
20,590 |
2018-03-01 |
$240,000 (4.7%) |
$355,764 (2.7%) |
0.83 |
19,886 |
2018-04-01 |
$249,950 (6.4%) |
$369,050 (3.8%) |
0.84 |
20,785 |
2018-05-01 |
$264,500 (8.0%) |
$383,010 (5.4%) |
0.88 |
21,602 |
2018-06-01 |
$269,000 (8.1%) |
$388,456 (5.5%) |
0.90 |
22,210 |
2018-07-01 |
$269,450 (7.8%) |
$387,880 (6.1%) |
0.90 |
22,358 |
2018-08-01 |
$262,450 (5.7%) |
$382,698 (6.2%) |
0.88 |
22,361 |
2018-09-01 |
$262,000 (6.1%) |
$382,055 (5.6%) |
0.88 |
22,688 |
2018-10-01 |
$264,950 (6.0%) |
$382,170 (4.5%) |
0.89 |
23,033 |
2018-11-01 |
$263,522 (8.7%) |
$379,513 (7.4%) |
0.88 |
22,287 |
2018-12-01 |
$254,900 (7.5%) |
$373,201 (7.6%) |
0.87 |
20,457 |
2019-01-01 |
$249,900 (8.7%) |
$363,923 (6.0%) |
0.86 |
18,903 |
2019-02-01 |
$251,500 (6.1%) |
$368,398 (6.6%) |
0.84 |
18,647 |
2019-03-01 |
$265,286 (10.5%) |
$383,560 (7.8%) |
0.86 |
19,042 |
2019-04-01 |
$275,000 (10.0%) |
$395,831 (7.3%) |
0.87 |
19,536 |
2019-05-01 |
$287,950 (8.9%) |
$406,697 (6.2%) |
0.89 |
20,302 |
2019-06-01 |
$289,900 (7.8%) |
$408,518 (5.2%) |
0.89 |
20,743 |
2019-07-01 |
$287,000 (6.5%) |
$406,737 (4.9%) |
0.89 |
20,591 |
2019-08-01 |
$289,286 (10.2%) |
$409,485 (7.0%) |
0.91 |
19,629 |
2019-09-01 |
$297,000 (13.4%) |
$421,214 (10.3%) |
0.94 |
18,514 |
2019-10-01 |
$299,000 (12.9%) |
$428,117 (12.0%) |
0.95 |
18,561 |
2019-11-01 |
$295,000 (12.0%) |
$423,999 (11.7%) |
0.95 |
17,530 |
2019-12-01 |
$287,604 (12.8%) |
$422,320 (13.2%) |
0.96 |
15,078 |
2020-01-01 |
$285,000 (14.1%) |
$420,342 (15.5%) |
0.95 |
13,657 |
2020-02-01 |
$291,900 (16.1%) |
$433,129 (17.6%) |
0.94 |
13,176 |
2020-03-01 |
$299,950 (13.1%) |
$447,228 (16.6%) |
0.94 |
13,245 |
2020-04-01 |
$299,900 (9.1%) |
$445,648 (12.6%) |
0.93 |
11,986 |
2020-05-01 |
$311,131 (8.1%) |
$454,994 (11.9%) |
0.94 |
12,462 |
2020-06-01 |
$327,450 (13.0%) |
$475,821 (16.5%) |
0.96 |
12,455 |
2020-07-01 |
$339,950 (18.5%) |
$496,733 (22.1%) |
0.97 |
11,429 |
2020-08-01 |
$342,900 (18.5%) |
$506,456 (23.7%) |
0.98 |
10,834 |
2020-09-01 |
$343,032 (15.5%) |
$510,361 (21.2%) |
0.98 |
10,799 |
2020-10-01 |
$349,000 (16.7%) |
$516,866 (20.7%) |
1.00 |
10,808 |
2020-11-01 |
$339,500 (15.1%) |
$512,902 (21.0%) |
0.97 |
10,399 |
2020-12-01 |
$327,000 (13.7%) |
$505,018 (19.6%) |
0.96 |
9,091 |
2021-01-01 |
$324,000 (13.7%) |
$507,994 (20.9%) |
0.95 |
7,911 |
2021-02-01 |
$322,450 (10.5%) |
$518,908 (19.8%) |
0.93 |
7,113 |
2021-03-01 |
$325,000 (8.4%) |
$529,998 (18.5%) |
0.91 |
7,227 |
2021-04-01 |
$339,450 (13.2%) |
$546,861 (22.7%) |
0.91 |
7,574 |
2021-05-01 |
$339,900 (9.3%) |
$526,530 (15.7%) |
0.89 |
8,161 |
2021-06-01 |
$334,900 (2.3%) |
$504,213 (6.0%) |
0.87 |
9,826 |
2021-07-01 |
$325,000 (-4.4%) |
$490,693 (-1.2%) |
0.84 |
10,530 |
2021-08-01 |
$320,000 (-6.7%) |
$473,091 (-6.6%) |
0.84 |
10,911 |
2021-09-01 |
$319,950 (-6.7%) |
$470,053 (-7.9%) |
0.84 |
10,970 |
2021-10-01 |
$319,999 (-8.3%) |
$472,739 (-8.5%) |
0.84 |
10,623 |
2021-11-01 |
$312,450 (-8.0%) |
$472,371 (-7.9%) |
0.82 |
9,729 |
2021-12-01 |
$299,950 (-8.3%) |
$468,154 (-7.3%) |
0.80 |
8,358 |
2022-01-01 |
$299,900 (-7.4%) |
$479,692 (-5.6%) |
0.80 |
6,917 |
Wilmington's median listing price for 2022-01-01 was $299,900, a difference of
$-24,100
(-7.4%) versus the prior year and
$-50 versus the prior month.
Wilmington's median listing price comes in at 80% of the national average.
Wilmington's average listing price for 2022-01-01 was $479,692, a difference of
$-28,302
(-5.6%) versus the prior year and
$11,538 versus the prior month.
For the 2022-01-01 period, Wilmington had 6,917 MLS listings, a difference of
-1,441 listings
(-17%)
versus the prior month and
-994 listings
(-13%)
versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Wilmington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date |
Median Listing Time on Market |
Median Square Footage |
2018-01-01 |
87 days |
1,700 sqft |
2018-02-01 |
80 days |
1,702 sqft |
2018-03-01 |
59 days |
1,714 sqft |
2018-04-01 |
55 days |
1,749 sqft |
2018-05-01 |
52 days |
1,795 sqft |
2018-06-01 |
53 days |
1,820 sqft |
2018-07-01 |
60 days |
1,824 sqft |
2018-08-01 |
63 days |
1,803 sqft |
2018-09-01 |
64 days |
1,800 sqft |
2018-10-01 |
64 days |
1,800 sqft |
2018-11-01 |
66 days |
1,800 sqft |
2018-12-01 |
75 days |
1,780 sqft |
2019-01-01 |
83 days |
1,806 sqft |
2019-02-01 |
79 days |
1,853 sqft |
2019-03-01 |
57 days |
1,853 sqft |
2019-04-01 |
49 days |
1,853 sqft |
2019-05-01 |
48 days |
1,878 sqft |
2019-06-01 |
52 days |
1,884 sqft |
2019-07-01 |
59 days |
1,860 sqft |
2019-08-01 |
63 days |
1,864 sqft |
2019-09-01 |
63 days |
1,892 sqft |
2019-10-01 |
61 days |
1,890 sqft |
2019-11-01 |
64 days |
1,853 sqft |
2019-12-01 |
75 days |
1,832 sqft |
2020-01-01 |
82 days |
1,800 sqft |
2020-02-01 |
69 days |
1,825 sqft |
2020-03-01 |
49 days |
1,849 sqft |
2020-04-01 |
62 days |
1,831 sqft |
2020-05-01 |
73 days |
1,864 sqft |
2020-06-01 |
59 days |
1,885 sqft |
2020-07-01 |
46 days |
1,879 sqft |
2020-08-01 |
45 days |
1,850 sqft |
2020-09-01 |
43 days |
1,797 sqft |
2020-10-01 |
48 days |
1,786 sqft |
2020-11-01 |
52 days |
1,745 sqft |
2020-12-01 |
61 days |
1,688 sqft |
2021-01-01 |
70 days |
1,643 sqft |
2021-02-01 |
65 days |
1,618 sqft |
2021-03-01 |
48 days |
1,628 sqft |
2021-04-01 |
40 days |
1,663 sqft |
2021-05-01 |
38 days |
1,680 sqft |
2021-06-01 |
37 days |
1,671 sqft |
2021-07-01 |
41 days |
1,655 sqft |
2021-08-01 |
43 days |
1,625 sqft |
2021-09-01 |
47 days |
1,605 sqft |
2021-10-01 |
49 days |
1,598 sqft |
2021-11-01 |
51 days |
1,558 sqft |
2021-12-01 |
58 days |
1,533 sqft |
2022-01-01 |
65 days |
1,508 sqft |
Wilmington's median listing age (time on market) for 2022-01-01 was 65 days.
This
is -7%
shorter
than the same period one year ago.
Wilmington's median square footage for active listings during the 2022-01-01 period was
1,508 sqft. One year prior, the average listing was
1,643 sqft.
FHA Loan Requirements
Borrowers must have a steady employment history or worked for the same employer for the past two years.
Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a
mortgage in your state.
Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
New FHA loans are only available for primary residence occupancy.
Borrowers must have a property appraisal from a FHA-approved appraiser.
Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance)
needs to be less than 31 percent of their gross income, typically. You may be able to get approved
with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they
believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment,
student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to
get approved with as high a percentage as 50 percent.
Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5
percent.
Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down
payment of 10 percent.
Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can
be made.
Typically borrowers must be three years out of foreclosure and have re-established good credit.
The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet
these standards and a seller will not agree to the required repairs, your only option is to pay for the required
repairs at closing (to be held in escrow until the repairs are complete).