Wilmington USDA Loans

WILMINGTON, DE-MD-NJ

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Wilmington's 72 lenders originated 330 USDA loans during 2021. The total origination value was $85,140,000, with an average USDA loan value of $258,000.

Wilmington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Wilmington averaged 4.91% for the week of 2022-03-25, compared to the national average (all USDA variants) of 4.554% for the same period.

The average rate for the prior week (2022-03-18) was 4.34% and one month ago for the week of 2022-02-18, the average rate was 4.24%.

The average rate one year ago was 3.34%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.5%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Wilmington USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 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
RESIDENTIAL MORTGAGE SERVICES, INC. 48 2.90% $6,469
NVR Mortgage Finance, Inc. 40 3.00% $8,150
Nations Lending Corporation 19 3.01% $5,319
Meridian Bank Corporation 14 2.80% $6,646
CALIBER HOME LOANS, INC. 13 2.79% $6,483
EMM LOANS LLC 12 2.92% $7,411
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.50% $6,843
NFM, INC. 8 3.28% $6,077
PIKE CREEK MORTGAGE SERVICES, INC. 8 3.47% $3,740
ACADEMY MORTGAGE CORPORATION 7 3.11% $6,573
SWBC MORTGAGE CORPORATION 7 3.02% $4,608
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 2.73% $8,074
AMERICAN FINANCIAL NETWORK, INC. 5 2.93% $10,528
ALLIED MORTGAGE GROUP, INC. 5 3.30% $5,328
GUILD MORTGAGE COMPANY 5 3.03% $5,712
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.25% $6,544
CROSSCOUNTRY MORTGAGE, LLC 5 2.95% $6,233
GREENTREE MORTGAGE COMPANY, L.P. 5 3.18% $5,203
Towne Bank 4 2.41% $5,921
PENNYMAC LOAN SERVICES, LLC 4 3.16% $6,115
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.81% $6,713
SOUTHERN TRUST MORTGAGE, LLC 4 3.00% $3,007
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 3 2.63% $6,192
CMG MORTGAGE, INC. 3 2.75% $7,208
PLAZA HOME MORTGAGE, INC. 3 2.87% $12,306
DIRECT MORTGAGE LOANS, LLC 3 2.88% $9,027
FINANCE OF AMERICA MORTGAGE LLC 3 3.00% $4,871
Acre Mortgage and Financial Inc 3 2.83% $10,000
FIRST HOME MORTGAGE CORPORATION 3 3.00% $5,973
Gateway First Bank 3 2.92% $5,193
George Mason Mortgage, LLC 3 2.54% $8,291
BROKER SOLUTIONS, INC. 3 2.95% $7,645
HOME POINT FINANCIAL CORPORATION 3 2.96% $7,322
NEWREZ LLC 2 2.75% $5,172
TOWNE MORTGAGE COMPANY 2 3.31% $9,124
EMBRACE HOME LOANS, INC. 2 3.50% $8,352
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.31% $6,013
APEX HOME LOANS, INC. 2 3.69% $6,843
GUARANTEED RATE, INC. 2 2.75% $7,813
PNC Bank 2 2.81% $5,093
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.50% $7,479
UNITED WHOLESALE MORTGAGE, LLC 2 2.77% $6,778
Fulton Bank 2 2.81% $4,904
Huntingdon Valley Bank 2 2.81% $15,079
Wilmington Savings Fund Society, FSB 1 2.75% $5,597
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.25% $8,856
AMERICAN HERITAGE FCU 1 2.88% $10,241
AmRes Corporation 1 2.88% $8,292
Atlantic Home Loans, Inc. 1 3.13% $9,678
Bank of England 1 2.25% $6,967
BAY CAPITAL MORTGAGE CORPORATION 1 2.63% $6,174
Capital Bank 1 2.75% $6,485
CHURCHILL MORTGAGE CORPORATION 1 2.50% $8,919
CONTOUR MORTGAGE CORPORATION 1 2.75% $5,358
Evolve Bank & Trust 1 3.63% $6,797
First Guaranty Mortgage Corporation 1 3.00% $6,923
FREEDOM MORTGAGE CORPORATION 1 2.50% $5,722
Goldwater Bank, N.A. 1 2.88% $7,746
GUARANTEED RATE AFFINITY, LLC 1 2.75% $5,952
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $3,409
MORTGAGE ACCESS CORP. 1 3.75% $5,617
Mortgage America, Inc. 1 3.00% $7,038
NATION ONE MORTGAGE CORPORATION 1 3.13% $7,557
Northpointe Bank 1 2.75% $11,085
Prosperity Home Mortgage, LLC 1 2.75% $5,118
Sierra Pacific Mortgage Company, Inc. 1 3.00% $5,574
SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $4,704
The Federal Savings Bank 1 2.88% $3,288
TIDEWATER MORTGAGE SERVICES, INC. 1 2.75% $6,030
VAN DYK MORTGAGE CORPORATION 1 3.25% $4,686
West Town Bank & Trust 1 3.25% $6,111
1st Colonial Community Bank 1 2.63% $6,071

The top Wilmington USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with 48 USDA loans originated. Their average total fees are $6,469, which is $1,681 lower than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Wilmington USDA lenders (with over 10 loans originated) are Nations Lending Corporation ($5,319), RESIDENTIAL MORTGAGE SERVICES, INC. ($6,469), CALIBER HOME LOANS, INC. ($6,483), Meridian Bank Corporation ($6,646) and EMM LOANS LLC ($7,411).

The lowest rate Wilmington USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.79%), Meridian Bank Corporation (2.80%), RESIDENTIAL MORTGAGE SERVICES, INC. (2.90%), EMM LOANS LLC (2.92%) and NVR Mortgage Finance, Inc. (3.00%).


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.