Wilmington FHA Loan Rates, Closing Costs & Stats

WILMINGTON, NC

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    • 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 97 lenders originated 629 FHA loans during 2024. The total origination value was $190,835,000, with an average FHA loan value of $303,394.

    Wilmington FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wilmington averaged 0.27% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Wilmington's average FHA mortgage closing costs are $8,246.

    The average rate for the prior week (2025-06-13) was 6.55% and one month ago for the week of 2025-05-16, the average rate was 6.91%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.45%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wilmington level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 59 6.22% $13,803
    DHI MORTGAGE COMPANY, LTD. 39 5.00% $8,290
    MOVEMENT MORTGAGE, LLC 36 6.53% $13,776
    UNITED WHOLESALE MORTGAGE, LLC 25 5.99% $13,462
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 25 6.62% $12,767
    SeaTrust Mortgage Company 25 6.30% $11,513
    GUARANTEED RATE, INC. 24 6.23% $11,940
    NEWREZ LLC 20 6.22% $9,603
    FREEDOM MORTGAGE CORPORATION 16 6.44% $12,409
    CORNERSTONE HOME LENDING, INC. 14 6.32% $12,689
    CROSSCOUNTRY MORTGAGE, LLC 14 6.41% $10,305
    Carrington Mortgage Services, LLC 10 6.39% $11,028
    T2 FINANCIAL LLC 9 6.33% $10,099
    Towne Bank 9 6.72% $11,640
    American Security Mortgage Corp. 9 6.39% $11,118
    PENNYMAC LOAN SERVICES, LLC 9 5.71% $11,730
    Integrity Home Mortgage Corp 9 6.58% $12,390
    Mr. Cooper ( Nationstar Mortgage ) 7 6.70% $15,448
    Presidential Bank, FSB 7 6.32% $14,024
    INTERCOASTAL MORTGAGE COMPANY 7 6.53% $10,762
    VANDERBILT MORTGAGE AND FINANCE, INC. 7 6.23% $13,625
    LOANDEPOT.COM, LLC 7 6.30% $11,558
    VILLAGE CAPITAL MORTGAGE 6 6.58% $8,748
    UNION HOME MORTGAGE CORP. 5 6.95% $9,248
    AMERICAN FINANCIAL RESOURCES, INC. 5 5.78% $13,339
    BROKER SOLUTIONS, INC. 5 6.78% $15,100
    LAKEVIEW LOAN SERVICING, LLC 4 6.38% $7,437
    Prosperity Home Mortgage, LLC 4 6.34% $10,764
    Alcova Mortgage LLC 4 6.47% $11,367
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.94% $11,491
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.72% $11,365
    AMERISAVE MORTGAGE CORPORATION 3 5.83% $14,342
    VERITAS FUNDING, LLC 3 6.25% $18,673
    The Loan Store, Inc. 3 6.50% $13,325
    AmeriHome Mortgage Company, LLC 3 6.46% $10,766
    Blue Ridge Bank 3 6.83% $9,663
    TOWNE MORTGAGE COMPANY 3 6.38% $10,541
    PLANET HOME LENDING, LLC 3 6.54% $10,224
    Lakeview Community Capital, LLC 2 6.25% $9,010
    GoPrime Mortgage, Inc. 2 6.69% $12,238
    CALCON MUTUAL MORTGAGE LLC 2 7.56% $18,797
    First-Citizens Bank & Trust Company 2 5.50% $10,814
    First Bank 2 5.88% $10,464
    NETWORK CAPITAL FUNDING CORPORATION 2 5.94% $18,712
    JPMorgan Chase Bank 2 6.69% $9,634
    Truist 2 6.20% $13,818
    RESOURCE FINANCIAL SERVICES, INC. 2 6.13% $9,741
    Mortgage Research Center, LLC 2 6.63% $10,479
    Waterstone Mortgage Corporation 2 6.88% $18,525
    Northpointe Bank 2 6.69% $12,528
    EQUITY RESOURCES, INC. 2 7.19% $10,602
    CARDINAL FINANCIAL 2 6.44% $14,517
    ZILLOW HOME LOANS, LLC 1 6.00% $18,019
    Acre Mortgage and Financial Inc 1 7.25% $12,571
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $15,598
    Barrington Bank & Trust Company, N.A. 1 6.75% $15,884
    CAPITAL CENTER, L.L.C. 1 6.13% $7,630
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.13% $10,336
    CMG MORTGAGE, INC. 1 7.00% $9,071
    CONTOUR MORTGAGE CORPORATION 1 6.63% $24,531
    DIRECT MORTGAGE LOANS, LLC 1 7.13% $10,192
    EMM LOANS LLC 1 6.13% $12,594
    EVERETT FINANCIAL, INC. 1 6.50% $16,539
    FBC MORTGAGE, LLC 1 6.63% $11,514
    FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $13,150
    First Federal Bank 1 7.13% $9,324
    Flagstar Bank, FSB 1 5.38% $18,647
    Gateway First Bank 1 6.75% $9,664
    GUILD MORTGAGE COMPANY 1 6.13% $11,806
    LOANPAL, LLC 1 5.99% $17,148
    MID AMERICA MORTGAGE, INC. 1 6.88% $4,342
    MLD MORTGAGE INC. 1 5.88% $13,898
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $8,955
    MORTGAGE INVESTORS GROUP, INC. 1 6.50% $11,909
    M&T Bank 1 6.25% $11,996
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.00% $11,517
    NFM, INC. 1 6.25% $16,832
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $11,115
    Pinnacle Bank 1 5.75% $11,819
    PNC Bank 1 6.75% $7,359
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.38% $15,385
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $12,817
    Princeton Mortgage Corporation 1 6.63% $12,501
    RADIUS FINANCIAL GROUP INC. 1 6.63% $10,771
    RAPID MORTGAGE COMPANY 1 7.13% $15,325
    Regions Bank 1 6.13% $10,161
    RESIDENTIAL BANCORP 1 5.50% $24,776
    RUOFF MORTGAGE COMPANY, INC. 1 5.88% $7,940
    S1L, Inc. 1 6.25% $10,357
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.25% $17,624
    SOUTHERN TRUST MORTGAGE, LLC 1 5.88% $9,093
    The Federal Savings Bank 1 6.75% $17,655
    The Freedom Bank of Virginia 1 6.13% $7,712
    The Huntington National Bank 1 5.50% $11,336
    United Community Bank 1 8.25% $12,337
    UNIVERSITY Federal Credit Union 1 6.25% $10,998
    ACOPIA, LLC 1 6.63% $14,602

    The top Wilmington FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 59 FHA loans originated. Their average total fees are $13,803, which is $5,512 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Wilmington FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,290), NEWREZ LLC ($9,603), CROSSCOUNTRY MORTGAGE, LLC ($10,305), Carrington Mortgage Services, LLC ($11,028) and SeaTrust Mortgage Company ($11,513).

    The lowest rate Wilmington FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.00%), UNITED WHOLESALE MORTGAGE, LLC (5.99%), NEWREZ LLC (6.22%), QUICKEN LOANS, LLC (6.22%) and GUARANTEED RATE, INC. (6.23%).

    Wilmington FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WILMINGTON, NC NEW HANOVER 2022 $420,680 $538,650 $651,050 $809,150
    WILMINGTON, NC PENDER 2022 $420,680 $538,650 $651,050 $809,150
    WILMINGTON, NC NEW HANOVER 2023 $472,030 $604,400 $730,525 $907,900
    WILMINGTON, NC PENDER 2023 $472,030 $604,400 $730,525 $907,900

    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).