Wilmington USDA Loans

WILMINGTON, NC

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    • 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 43 lenders originated 136 USDA loans during 2021. The total origination value was $31,010,000, with an average USDA loan value of $228,015.

    Wilmington USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Wilmington averaged 5.2% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.13% and one month ago for the week of 2022-04-08, the average rate was 4.79%.

    The average rate one year ago was 3.1%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.28%.

    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
    Alpha Mortgage Corporation 20 3.14% $5,935
    ANGEL OAK HOME LOANS LLC 9 2.82% $6,197
    GUARANTEED RATE, INC. 9 2.69% $5,716
    Blue Ridge Bank 8 3.06% $7,563
    MOVEMENT MORTGAGE, LLC 7 2.86% $5,170
    CALIBER HOME LOANS, INC. 6 2.60% $4,971
    UNION HOME MORTGAGE CORP. 6 2.67% $5,211
    Towne Bank 6 2.71% $5,783
    PENNYMAC LOAN SERVICES, LLC 5 2.85% $4,823
    CORNERSTONE HOME LENDING, INC. 5 2.80% $5,621
    DHI MORTGAGE COMPANY, LTD. 4 2.56% $4,630
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 3.22% $7,546
    RESOURCE FINANCIAL SERVICES, INC. 3 2.63% $5,911
    ON Q FINANCIAL, INC. 3 2.79% $5,976
    Wells Fargo Bank 2 2.81% $4,867
    American Security Mortgage Corp. 2 2.75% $6,399
    CROSSCOUNTRY MORTGAGE, LLC 2 3.25% $7,300
    First Bank 2 2.50% $5,005
    First Guaranty Mortgage Corporation 2 2.88% $5,075
    Gateway First Bank 2 3.13% $4,935
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 2.75% $5,147
    North State Bank 2 2.63% $3,494
    PLAZA HOME MORTGAGE, INC. 2 2.94% $6,194
    RAPID MORTGAGE COMPANY 2 3.00% $8,073
    Truist Bank 2 2.69% $5,454
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.69% $6,041
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $10,715
    NEWREZ LLC 1 2.38% $4,610
    1ST SIGNATURE LENDING, LLC 1 3.00% $6,016
    First-Citizens Bank & Trust Company 1 3.00% $3,392
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $6,485
    CALCON MUTUAL MORTGAGE LLC 1 3.75% $5,249
    United Bank 1 2.63% $5,191
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.63% $6,072
    Capital City Home Loans, LLC 1 2.38% $5,264
    SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $10,205
    Tidewater Home Funding, LLC 1 2.75% $6,097
    Call Federal Credit Union 1 3.00% $5,140
    HOME POINT FINANCIAL CORPORATION 1 2.75% $4,531
    HOMESTEAD FUNDING CORP. 1 3.00% $3,370
    INTERCOASTAL MORTGAGE COMPANY 1 2.75% $4,733
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $2,178
    LOANDEPOT.COM, LLC 1 3.00% $7,254

    The top Wilmington USDA lender as defined by loan originations is Alpha Mortgage Corporation, with 20 USDA loans originated. Their average total fees are $5,935, which is $262 lower than the next largest lender, ANGEL OAK HOME LOANS LLC.

    The lowest fee Wilmington USDA lenders (with over 10 loans originated) are Alpha Mortgage Corporation ($5,935), .

    The lowest rate Wilmington USDA lenders (with over 10 loans originated) are Alpha Mortgage Corporation (3.14%), .

    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 $326,718 (2.2%) $484,727 (4.6%) 1.20 1,679
    2018-02-01 $328,450 (1.7%) $480,512 (1.6%) 1.18 1,674
    2018-03-01 $329,900 (1.9%) $477,506 (-0.4%) 1.14 1,724
    2018-04-01 $329,950 (-0.6%) $481,672 (-1.6%) 1.11 1,749
    2018-05-01 $330,700 (-1.6%) $486,139 (-2.6%) 1.10 1,771
    2018-06-01 $329,900 (-1.2%) $480,261 (-1.7%) 1.10 1,868
    2018-07-01 $327,950 (-0.6%) $481,339 (-1.9%) 1.09 1,981
    2018-08-01 $325,000 (-1.4%) $476,985 (-2.4%) 1.09 1,982
    2018-09-01 $334,000 (1.5%) $487,192 (1.3%) 1.12 1,981
    2018-10-01 $339,000 (4.5%) $488,568 (3.0%) 1.13 1,656
    2018-11-01 $343,338 (5.6%) $485,000 (1.7%) 1.15 1,577
    2018-12-01 $339,209 (4.4%) $484,714 (2.1%) 1.16 1,531
    2019-01-01 $342,963 (5.0%) $490,947 (1.3%) 1.18 1,408
    2019-02-01 $342,238 (4.2%) $493,501 (2.7%) 1.15 1,390
    2019-03-01 $353,857 (7.3%) $501,332 (5.0%) 1.15 1,416
    2019-04-01 $358,357 (8.6%) $510,320 (6.0%) 1.13 1,475
    2019-05-01 $363,188 (9.8%) $531,342 (9.3%) 1.12 1,511
    2019-06-01 $354,000 (7.3%) $522,433 (8.8%) 1.09 1,581
    2019-07-01 $359,900 (9.7%) $530,357 (10.2%) 1.12 1,600
    2019-08-01 $363,800 (11.9%) $538,396 (12.9%) 1.14 1,609
    2019-09-01 $366,300 (9.7%) $541,849 (11.2%) 1.16 1,593
    2019-10-01 $361,250 (6.6%) $530,860 (8.7%) 1.15 1,620
    2019-11-01 $350,000 (1.9%) $521,594 (7.6%) 1.13 1,624
    2019-12-01 $352,400 (3.9%) $521,068 (7.5%) 1.17 1,537
    2020-01-01 $357,953 (4.4%) $527,415 (7.4%) 1.19 1,458
    2020-02-01 $359,000 (4.9%) $531,660 (7.7%) 1.16 1,435
    2020-03-01 $374,208 (5.8%) $558,840 (11.5%) 1.17 1,493
    2020-04-01 $367,051 (2.4%) $550,342 (7.8%) 1.14 1,578
    2020-05-01 $369,900 (1.9%) $557,350 (4.9%) 1.12 1,544
    2020-06-01 $371,813 (5.0%) $563,958 (8.0%) 1.09 1,338
    2020-07-01 $369,534 (2.7%) $573,231 (8.1%) 1.06 1,218
    2020-08-01 $374,300 (2.9%) $582,297 (8.2%) 1.07 1,157
    2020-09-01 $384,446 (5.0%) $595,527 (9.9%) 1.10 1,086
    2020-10-01 $389,000 (7.7%) $615,436 (15.9%) 1.11 1,025
    2020-11-01 $382,500 (9.3%) $622,755 (19.4%) 1.10 1,009
    2020-12-01 $381,734 (8.3%) $624,287 (19.8%) 1.12 948
    2021-01-01 $379,900 (6.1%) $639,233 (21.2%) 1.12 794
    2021-02-01 $396,950 (10.6%) $707,779 (33.1%) 1.14 570
    2021-03-01 $395,333 (5.7%) $689,116 (23.3%) 1.11 487
    2021-04-01 $411,394 (12.1%) $680,493 (23.7%) 1.11 477
    2021-05-01 $409,900 (10.8%) $700,698 (25.7%) 1.08 464
    2021-06-01 $419,500 (12.8%) $700,456 (24.2%) 1.09 511
    2021-07-01 $444,500 (20.3%) $701,392 (22.4%) 1.15 530
    2021-08-01 $434,500 (16.1%) $664,594 (14.1%) 1.14 576
    2021-09-01 $439,950 (14.4%) $649,726 (9.1%) 1.16 582
    2021-10-01 $453,172 (16.5%) $654,156 (6.3%) 1.19 571
    2021-11-01 $474,950 (24.2%) $694,722 (11.6%) 1.25 495
    2021-12-01 $465,424 (21.9%) $670,951 (7.5%) 1.24 434
    2022-01-01 $475,000 (25.0%) $695,454 (8.8%) 1.27 344
    2022-02-01 $454,488 (14.5%) $697,437 (-1.5%) 1.16 302
    2022-03-01 $454,900 (15.1%) $742,604 (7.8%) 1.12 300
    2022-04-01 $489,325 (18.9%) $744,058 (9.3%) 1.15 316
    Wilmington's median listing price for 2022-04-01 was $489,325, a difference of $77,931 (18.9%) versus the prior year and $34,425 versus the prior month.

    Wilmington's median listing price comes in at 115% of the national average.

    Wilmington's average listing price for 2022-04-01 was $744,058, a difference of $63,565 (9.3%) versus the prior year and $1,454 versus the prior month.

    For the 2022-04-01 period, Wilmington had 316 MLS listings, a difference of 16 listings (5%) versus the prior month and -161 listings (-34%) 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
    2018-01-01 113 days 2,202 sqft
    2018-02-01 112 days 2,220 sqft
    2018-03-01 92 days 2,190 sqft
    2018-04-01 71 days 2,200 sqft
    2018-05-01 71 days 2,201 sqft
    2018-06-01 70 days 2,202 sqft
    2018-07-01 71 days 2,206 sqft
    2018-08-01 73 days 2,155 sqft
    2018-09-01 85 days 2,185 sqft
    2018-10-01 108 days 2,191 sqft
    2018-11-01 112 days 2,233 sqft
    2018-12-01 114 days 2,206 sqft
    2019-01-01 115 days 2,236 sqft
    2019-02-01 102 days 2,223 sqft
    2019-03-01 88 days 2,243 sqft
    2019-04-01 64 days 2,241 sqft
    2019-05-01 62 days 2,257 sqft
    2019-06-01 64 days 2,241 sqft
    2019-07-01 66 days 2,241 sqft
    2019-08-01 69 days 2,259 sqft
    2019-09-01 79 days 2,259 sqft
    2019-10-01 82 days 2,219 sqft
    2019-11-01 79 days 2,183 sqft
    2019-12-01 86 days 2,182 sqft
    2020-01-01 92 days 2,206 sqft
    2020-02-01 88 days 2,211 sqft
    2020-03-01 66 days 2,240 sqft
    2020-04-01 65 days 2,198 sqft
    2020-05-01 73 days 2,221 sqft
    2020-06-01 80 days 2,246 sqft
    2020-07-01 72 days 2,255 sqft
    2020-08-01 64 days 2,239 sqft
    2020-09-01 60 days 2,283 sqft
    2020-10-01 58 days 2,283 sqft
    2020-11-01 57 days 2,235 sqft
    2020-12-01 63 days 2,238 sqft
    2021-01-01 74 days 2,223 sqft
    2021-02-01 75 days 2,262 sqft
    2021-03-01 48 days 2,170 sqft
    2021-04-01 45 days 2,171 sqft
    2021-05-01 42 days 2,120 sqft
    2021-06-01 40 days 2,121 sqft
    2021-07-01 41 days 2,163 sqft
    2021-08-01 39 days 2,168 sqft
    2021-09-01 43 days 2,149 sqft
    2021-10-01 45 days 2,141 sqft
    2021-11-01 52 days 2,172 sqft
    2021-12-01 57 days 2,084 sqft
    2022-01-01 63 days 2,147 sqft
    2022-02-01 46 days 2,054 sqft
    2022-03-01 35 days 1,952 sqft
    2022-04-01 34 days 2,042 sqft
    Wilmington's median listing age (time on market) for 2022-04-01 was 34 days. This is -24% shorter than the same period one year ago.

    Wilmington's median square footage for active listings during the 2022-04-01 period was 2,042 sqft. One year prior, the average listing was 2,171 sqft.