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 87 lenders originated 606 FHA loans during 2023. The total origination value was $175,840,000, with an average FHA loan value of $290,165.

    Wilmington FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wilmington averaged 6.16% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Wilmington's average FHA mortgage closing costs are $7,794.

    The average rate for the prior week (2025-02-07) was 6.58% and one month ago for the week of 2025-01-10, the average rate was 6.24%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.45%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 63 6.30% $11,949
    DHI MORTGAGE COMPANY, LTD. 51 5.35% $7,890
    MOVEMENT MORTGAGE, LLC 40 6.45% $12,396
    UNITED WHOLESALE MORTGAGE, LLC 39 6.05% $14,726
    GUARANTEED RATE, INC. 22 6.40% $13,916
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 21 6.51% $12,086
    NEWREZ LLC 17 6.62% $10,803
    CROSSCOUNTRY MORTGAGE, LLC 16 6.96% $13,398
    LOANDEPOT.COM, LLC 14 6.40% $10,723
    PENNYMAC LOAN SERVICES, LLC 13 6.05% $15,273
    CORNERSTONE HOME LENDING, INC. 13 6.35% $11,850
    Integrity Home Mortgage Corp 12 6.91% $11,730
    Towne Bank 12 6.82% $12,429
    Northpointe Bank 11 6.51% $12,128
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 10 7.05% $11,412
    INTERCOASTAL MORTGAGE COMPANY 8 6.28% $8,873
    American Security Mortgage Corp. 7 6.23% $10,531
    Blue Ridge Bank 7 5.89% $11,482
    Carrington Mortgage Services, LLC 7 6.00% $12,049
    CALIBER HOME LOANS, INC. 6 6.23% $11,794
    VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.52% $12,329
    AMERICAN FINANCIAL RESOURCES, INC. 6 5.92% $14,828
    BROKER SOLUTIONS, INC. 6 6.88% $12,803
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.21% $13,509
    CARDINAL FINANCIAL 5 6.17% $16,209
    SeaTrust Mortgage Company 5 6.83% $10,381
    Mr. Cooper ( Nationstar Mortgage ) 5 5.78% $15,271
    AMERISAVE MORTGAGE CORPORATION 5 5.63% $22,259
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 4 6.53% $14,346
    FREEDOM MORTGAGE CORPORATION 4 7.13% $15,584
    MILEND, INC. 4 7.06% $12,416
    Mortgage Research Center, LLC 3 6.92% $11,227
    Nations Lending Corporation 3 7.08% $13,354
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.75% $12,640
    HOMESIDE FINANCIAL, LLC 3 6.71% $18,915
    CMG MORTGAGE, INC. 3 6.33% $12,115
    RELIANCE FIRST CAPITAL, LLC 3 6.42% $15,183
    Equity Prime Mortgage LLC 3 6.92% $18,373
    MICHIGAN MUTUAL, INC. 2 5.94% $9,674
    TOTAL MORTGAGE SERVICES, LLC 2 7.44% $9,194
    Truist 2 6.43% $9,346
    TOWNE MORTGAGE COMPANY 2 6.00% $9,394
    UNION HOME MORTGAGE CORP. 2 7.31% $7,182
    SUN WEST MORTGAGE COMPANY, INC. 2 6.44% $13,032
    First Bank 2 5.44% $8,839
    Alcova Mortgage LLC 2 7.13% $13,618
    JET HOMELOANS, LLC 2 5.49% $10,367
    PLANET HOME LENDING, LLC 2 6.25% $9,255
    AMERICAN FINANCIAL NETWORK, INC. 2 6.50% $16,379
    CALCON MUTUAL MORTGAGE LLC 2 6.88% $17,400
    North State Bank 2 6.63% $9,594
    Wells Fargo Bank 1 6.63% $10,728
    Advisors Mortgage Group, L.L.C. 1 6.50% $12,244
    AmeriHome Mortgage Company, LLC 1 6.25% $8,510
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,936
    Bank of America 1 6.50% $12,492
    Barrington Bank & Trust Company, N.A. 1 5.75% $10,761
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $15,236
    Century Mortgage Company DBA Century Lending Company 1 6.50% $8,253
    Citizens Bank 1 6.88% $11,827
    EMM LOANS LLC 1 5.50% $16,882
    GoPrime Mortgage, Inc. 1 7.25% $16,002
    GUILD MORTGAGE COMPANY 1 6.75% $9,418
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $6,390
    LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $11,562
    LOANLEADERS OF AMERICA, INC. 1 6.63% $14,442
    LOANPAL, LLC 1 6.63% $10,910
    MDE Home Loans, LLC 1 7.25% $13,711
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.25% $18,310
    MID AMERICA MORTGAGE, INC. 1 6.88% $3,577
    Mortgage Assurance Inc. 1 5.63% $9,622
    PHH Mortgage Corporation 1 7.13% $8,714
    Plains Commerce Bank 1 6.88% $8,370
    POLARIS HOME FUNDING CORP. 1 7.25% $11,967
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.38% $12,258
    Prosperity Home Mortgage, LLC 1 7.63% $10,361
    RAPID MORTGAGE COMPANY 1 6.13% $6,743
    Regions Bank 1 7.63% $11,459
    Renasant Bank 1 6.63% $14,635
    RESOURCE FINANCIAL SERVICES, INC. 1 5.75% $13,492
    Shamrock Home Loans, Inc. 1 6.25% $10,693
    Sierra Pacific Mortgage Company, Inc. 1 7.50% $10,784
    South State Bank 1 6.63% $10,418
    United Bank 1 6.25% $8,597
    VERITAS FUNDING, LLC 1 6.75% $23,784
    VILLAGE CAPITAL MORTGAGE 1 5.75% $16,896
    ACOPIA, LLC 1 7.50% $16,518

    The top Wilmington FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 63 FHA loans originated. Their average total fees are $11,949, which is $4,059 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. ($7,890), LOANDEPOT.COM, LLC ($10,723), NEWREZ LLC ($10,803), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($11,412) and Integrity Home Mortgage Corp ($11,730).

    The lowest rate Wilmington FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.35%), PENNYMAC LOAN SERVICES, LLC (6.05%), UNITED WHOLESALE MORTGAGE, LLC (6.05%), QUICKEN LOANS, LLC (6.30%) and CORNERSTONE HOME LENDING, INC. (6.35%).

    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

    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 $319,569 (3.7%) $441,171 (6.5%) 1.22 3,666
    2018-02-01 $319,950 (4.2%) $437,674 (5.0%) 1.20 3,721
    2018-03-01 $329,000 (5.4%) $442,034 (4.3%) 1.17 3,817
    2018-04-01 $330,065 (3.3%) $450,161 (2.7%) 1.14 3,860
    2018-05-01 $337,025 (3.7%) $457,797 (2.6%) 1.12 3,858
    2018-06-01 $339,000 (3.5%) $459,372 (3.1%) 1.12 3,898
    2018-07-01 $339,085 (4.3%) $460,645 (3.0%) 1.11 3,945
    2018-08-01 $337,000 (3.7%) $459,654 (3.0%) 1.11 3,932
    2018-09-01 $339,500 (4.5%) $460,580 (3.3%) 1.14 3,943
    2018-10-01 $335,000 (3.1%) $453,831 (2.2%) 1.15 3,500
    2018-11-01 $339,157 (4.4%) $452,677 (2.0%) 1.18 3,400
    2018-12-01 $330,000 (3.2%) $447,718 (1.9%) 1.19 3,361
    2019-01-01 $338,900 (6.1%) $448,278 (1.6%) 1.21 3,178
    2019-02-01 $334,900 (4.7%) $442,677 (1.1%) 1.18 3,260
    2019-03-01 $339,311 (3.1%) $443,798 (0.4%) 1.17 3,410
    2019-04-01 $343,413 (4.0%) $447,596 (-0.6%) 1.14 3,605
    2019-05-01 $349,900 (3.8%) $461,420 (0.8%) 1.15 3,634
    2019-06-01 $349,900 (3.2%) $463,785 (1.0%) 1.13 3,717
    2019-07-01 $352,000 (3.8%) $468,438 (1.7%) 1.15 3,705
    2019-08-01 $356,818 (5.9%) $474,213 (3.2%) 1.16 3,703
    2019-09-01 $360,295 (6.1%) $478,683 (3.9%) 1.18 3,665
    2019-10-01 $363,200 (8.4%) $481,663 (6.1%) 1.19 3,636
    2019-11-01 $359,000 (5.9%) $477,518 (5.5%) 1.18 3,614
    2019-12-01 $352,500 (6.8%) $477,194 (6.6%) 1.20 3,460
    2020-01-01 $352,444 (4.0%) $476,312 (6.3%) 1.21 3,303
    2020-02-01 $355,000 (6.0%) $476,230 (7.6%) 1.19 3,259
    2020-03-01 $366,368 (8.0%) $493,487 (11.2%) 1.19 3,422
    2020-04-01 $359,988 (4.8%) $488,929 (9.2%) 1.16 3,536
    2020-05-01 $365,000 (4.3%) $496,155 (7.5%) 1.14 3,454
    2020-06-01 $370,000 (5.7%) $505,604 (9.0%) 1.11 2,982
    2020-07-01 $369,250 (4.9%) $511,555 (9.2%) 1.09 2,698
    2020-08-01 $368,950 (3.4%) $517,355 (9.1%) 1.09 2,474
    2020-09-01 $369,899 (2.7%) $524,726 (9.6%) 1.09 2,298
    2020-10-01 $369,000 (1.6%) $534,819 (11.0%) 1.09 2,169
    2020-11-01 $365,000 (1.7%) $533,767 (11.8%) 1.11 2,130
    2020-12-01 $365,510 (3.7%) $534,485 (12.0%) 1.14 2,047
    2021-01-01 $359,827 (2.1%) $541,772 (13.7%) 1.14 1,774
    2021-02-01 $370,296 (4.3%) $571,682 (20.0%) 1.16 1,377
    2021-03-01 $375,056 (2.4%) $572,199 (16.0%) 1.12 1,190
    2021-04-01 $389,500 (8.2%) $579,562 (18.5%) 1.13 1,107
    2021-05-01 $410,000 (12.3%) $633,679 (27.7%) 1.13 1,013
    2021-06-01 $407,200 (10.1%) $629,983 (24.6%) 1.12 1,074
    2021-07-01 $426,500 (15.5%) $630,848 (23.3%) 1.19 1,139
    2021-08-01 $421,975 (14.4%) $606,881 (17.3%) 1.18 1,242
    2021-09-01 $417,950 (13.0%) $592,434 (12.9%) 1.20 1,307
    2021-10-01 $424,900 (15.2%) $597,920 (11.8%) 1.25 1,304
    2021-11-01 $417,450 (14.4%) $605,116 (13.4%) 1.32 1,189
    2021-12-01 $423,994 (16.0%) $599,309 (12.1%) 1.29 1,054
    2022-01-01 $431,788 (20.0%) $613,570 (13.3%) 1.31 844
    2022-02-01 $445,550 (20.3%) $649,560 (13.6%) 1.22 702
    2022-03-01 $449,950 (20.0%) $691,744 (20.9%) 1.18 693
    2022-04-01 $469,000 (20.4%) $698,874 (20.6%) 1.19 735
    2022-05-01 $484,370 (18.1%) $692,439 (9.3%) 1.20 995
    2022-06-01 $489,443 (20.2%) $699,686 (11.1%) 1.17 1,263
    2022-07-01 $499,000 (17.0%) $713,732 (13.1%) 1.19 1,587
    2022-08-01 $500,000 (18.5%) $713,821 (17.6%) 1.27 1,653
    2022-09-01 $499,526 (19.5%) $703,823 (18.8%) 1.27 1,743
    2022-10-01 $495,945 (16.7%) $680,644 (13.8%) 1.26 1,799
    2022-11-01 $487,450 (16.8%) $656,956 (8.6%) 1.26 1,895
    2022-12-01 $479,900 (13.2%) $642,475 (7.2%) 1.28 1,858
    2023-01-01 $472,500 (9.4%) $641,501 (4.6%) 1.30 1,770
    2023-02-01 $469,900 (5.5%) $635,276 (-2.2%) 1.28 1,707
    2023-03-01 $469,950 (4.5%) $639,329 (-7.6%) 1.24 1,685
    2023-04-01 $489,900 (4.5%) $671,240 (-4.0%) 1.28 1,620
    2023-05-01 $488,950 (1.0%) $681,777 (-1.5%) 1.26 1,638
    2023-06-01 $492,250 (0.6%) $685,145 (-2.1%) 1.24 1,692
    2023-07-01 $489,900 (-1.8%) $691,391 (-3.1%) 1.25 1,748
    2023-08-01 $482,300 (-3.5%) $766,283 (7.4%) 1.21 1,841
    2023-09-01 $479,900 (-3.9%) $688,907 (-2.1%) 1.23 1,957
    2023-10-01 $487,000 (-1.8%) $681,038 (0.1%) 1.22 2,161
    2023-11-01 $477,000 (-2.1%) $670,464 (2.1%) 1.19 2,394
    2023-12-01 $472,165 (-1.6%) $657,866 (2.4%) 1.23 2,352
    2024-01-01 $462,350 (-2.2%) $642,634 (0.2%) 1.26 2,288
    2024-02-01 $472,650 (0.6%) $645,489 (1.6%) 1.29 2,413
    2024-03-01 $478,500 (1.8%) $663,856 (3.8%) 1.27 2,431
    2024-04-01 $489,225 (-0.1%) $666,407 (-0.7%) 1.29 2,646
    2024-05-01 $494,950 (1.2%) $680,827 (-0.1%) 1.31 2,663
    2024-06-01 $489,900 (-0.5%) $664,726 (-3.0%) 1.26 2,827
    2024-07-01 $485,000 (-1.0%) $666,988 (-3.5%) 1.28 2,903
    2024-08-01 $475,000 (-1.5%) $662,644 (-13.5%) 1.28 2,953
    2024-09-01 $471,870 (-1.7%) $670,315 (-2.7%) 1.29 3,013
    2024-10-01 $466,500 (-4.2%) $673,648 (-1.1%) 1.27 3,092
    2024-11-01 $465,000 (-2.5%) $660,254 (-1.5%) 1.29 3,184
    2024-12-01 $468,700 (-0.7%) $650,615 (-1.1%) 1.32 2,979
    2025-01-01 $475,000 (2.7%) $659,077 (2.6%) 0.00 2,825
    Wilmington's median listing price for 2025-01-01 was $475,000, a difference of $12,650 (2.7%) versus the prior year and $6,300 versus the prior month.

    Wilmington's median listing price comes in at 0% of the national average.

    Wilmington's average listing price for 2025-01-01 was $659,077, a difference of $16,443 (2.6%) versus the prior year and $8,462 versus the prior month.

    For the 2025-01-01 period, Wilmington had 2,825 MLS listings, a difference of -154 listings (-5%) versus the prior month and 537 listings (23%) 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
    2018-01-01 103 days 2,042 sqft
    2018-02-01 101 days 2,042 sqft
    2018-03-01 72 days 2,047 sqft
    2018-04-01 62 days 2,062 sqft
    2018-05-01 61 days 2,084 sqft
    2018-06-01 63 days 2,100 sqft
    2018-07-01 64 days 2,089 sqft
    2018-08-01 67 days 2,066 sqft
    2018-09-01 78 days 2,080 sqft
    2018-10-01 101 days 2,067 sqft
    2018-11-01 102 days 2,064 sqft
    2018-12-01 107 days 2,044 sqft
    2019-01-01 96 days 2,039 sqft
    2019-02-01 91 days 2,031 sqft
    2019-03-01 76 days 2,053 sqft
    2019-04-01 58 days 2,074 sqft
    2019-05-01 57 days 2,087 sqft
    2019-06-01 58 days 2,088 sqft
    2019-07-01 63 days 2,102 sqft
    2019-08-01 68 days 2,106 sqft
    2019-09-01 74 days 2,103 sqft
    2019-10-01 78 days 2,100 sqft
    2019-11-01 75 days 2,063 sqft
    2019-12-01 83 days 2,057 sqft
    2020-01-01 92 days 2,058 sqft
    2020-02-01 87 days 2,064 sqft
    2020-03-01 65 days 2,069 sqft
    2020-04-01 66 days 2,050 sqft
    2020-05-01 71 days 2,076 sqft
    2020-06-01 78 days 2,125 sqft
    2020-07-01 70 days 2,124 sqft
    2020-08-01 64 days 2,118 sqft
    2020-09-01 67 days 2,118 sqft
    2020-10-01 68 days 2,115 sqft
    2020-11-01 69 days 2,078 sqft
    2020-12-01 67 days 2,075 sqft
    2021-01-01 74 days 2,053 sqft
    2021-02-01 74 days 2,075 sqft
    2021-03-01 49 days 2,029 sqft
    2021-04-01 46 days 2,064 sqft
    2021-05-01 42 days 2,053 sqft
    2021-06-01 39 days 1,990 sqft
    2021-07-01 39 days 1,991 sqft
    2021-08-01 40 days 2,002 sqft
    2021-09-01 43 days 1,997 sqft
    2021-10-01 45 days 2,001 sqft
    2021-11-01 51 days 1,991 sqft
    2021-12-01 59 days 1,968 sqft
    2022-01-01 64 days 1,999 sqft
    2022-02-01 44 days 1,984 sqft
    2022-03-01 33 days 1,929 sqft
    2022-04-01 32 days 1,940 sqft
    2022-05-01 33 days 1,941 sqft
    2022-06-01 34 days 1,943 sqft
    2022-07-01 37 days 1,990 sqft
    2022-08-01 45 days 2,014 sqft
    2022-09-01 51 days 2,014 sqft
    2022-10-01 54 days 2,010 sqft
    2022-11-01 60 days 1,996 sqft
    2022-12-01 70 days 1,973 sqft
    2023-01-01 78 days 1,969 sqft
    2023-02-01 72 days 1,969 sqft
    2023-03-01 52 days 1,971 sqft
    2023-04-01 46 days 1,983 sqft
    2023-05-01 43 days 2,000 sqft
    2023-06-01 47 days 2,027 sqft
    2023-07-01 45 days 2,007 sqft
    2023-08-01 44 days 1,953 sqft
    2023-09-01 46 days 1,946 sqft
    2023-10-01 49 days 1,921 sqft
    2023-11-01 51 days 1,883 sqft
    2023-12-01 58 days 1,871 sqft
    2024-01-01 73 days 1,875 sqft
    2024-02-01 65 days 1,879 sqft
    2024-03-01 53 days 1,874 sqft
    2024-04-01 49 days 1,867 sqft
    2024-05-01 45 days 1,882 sqft
    2024-06-01 49 days 1,872 sqft
    2024-07-01 54 days 1,855 sqft
    2024-08-01 60 days 1,864 sqft
    2024-09-01 61 days 1,863 sqft
    2024-10-01 60 days 1,844 sqft
    2024-11-01 64 days 1,835 sqft
    2024-12-01 75 days 1,840 sqft
    2025-01-01 0 days 1,852 sqft
    Wilmington's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Wilmington's median square footage for active listings during the 2025-01-01 period was 1,852 sqft. One year prior, the average listing was 1,875 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).