Wilmington USDA Loan Rates, Closing Costs & Stats

WILMINGTON, NC

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 6 lenders originated 9 USDA loans during 2023. The total origination value was $2,345,000, with an average USDA loan value of $260,556.

Wilmington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Wilmington averaged 6.63% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Wilmington's average USDA mortgage closing costs are $5,483.

The average rate for the prior week (2024-05-31) was 6.41% and one month ago for the week of 2024-05-03, the average rate was 6.8%.

The average rate one year ago was 6.6%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.51%.

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/closing costs and rates for USDA 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
GUARANTEED RATE, INC. 2 5.90% $9,678
MOVEMENT MORTGAGE, LLC 2 6.00% $6,657
Prosperity Home Mortgage, LLC 2 6.63% $6,379
DHI MORTGAGE COMPANY, LTD. 1 4.75% $5,742
EQUITY RESOURCES, INC. 1 6.88% $6,039
Northpointe Bank 1 5.63% $10,176

The top Wilmington USDA lender as defined by loan originations is GUARANTEED RATE, INC., with 2 USDA loans originated. Their average total fees are $9,678, which is $3,021 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Wilmington USDA lenders (with over 10 loans originated) are .

The lowest rate Wilmington USDA lenders (with over 10 loans originated) are .


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 $329,900 (2.1%) $482,074 (4.9%) 1.22 1,797
2018-02-01 $331,200 (1.9%) $478,991 (2.1%) 1.20 1,796
2018-03-01 $332,900 (1.7%) $478,421 (0.4%) 1.17 1,853
2018-04-01 $337,068 (0.6%) $483,624 (-0.9%) 1.14 1,870
2018-05-01 $336,150 (-1.1%) $489,390 (-1.4%) 1.12 1,890
2018-06-01 $334,900 (-0.3%) $482,560 (-0.9%) 1.12 1,982
2018-07-01 $332,306 (0.7%) $484,445 (-0.8%) 1.11 2,088
2018-08-01 $329,949 (-0.4%) $481,366 (-0.9%) 1.11 2,088
2018-09-01 $339,900 (2.6%) $486,980 (1.2%) 1.14 2,078
2018-10-01 $339,935 (3.3%) $487,736 (2.8%) 1.15 1,743
2018-11-01 $347,838 (5.7%) $489,096 (2.9%) 1.18 1,665
2018-12-01 $344,700 (4.8%) $486,617 (2.7%) 1.19 1,621
2019-01-01 $349,000 (5.8%) $495,302 (2.7%) 1.21 1,490
2019-02-01 $348,562 (5.2%) $497,550 (3.9%) 1.18 1,469
2019-03-01 $357,143 (7.3%) $503,587 (5.3%) 1.17 1,503
2019-04-01 $360,000 (6.8%) $512,122 (5.9%) 1.14 1,554
2019-05-01 $367,867 (9.4%) $530,726 (8.5%) 1.15 1,592
2019-06-01 $360,000 (7.5%) $523,945 (8.6%) 1.13 1,679
2019-07-01 $365,867 (10.1%) $529,045 (9.2%) 1.15 1,700
2019-08-01 $367,610 (11.4%) $531,589 (10.4%) 1.16 1,726
2019-09-01 $368,925 (8.5%) $533,886 (9.6%) 1.18 1,734
2019-10-01 $369,778 (8.8%) $535,417 (9.8%) 1.19 1,744
2019-11-01 $360,000 (3.5%) $526,504 (7.7%) 1.18 1,756
2019-12-01 $360,005 (4.4%) $526,090 (8.1%) 1.20 1,670
2020-01-01 $362,435 (3.9%) $530,229 (7.1%) 1.21 1,586
2020-02-01 $364,985 (4.7%) $533,555 (7.2%) 1.19 1,578
2020-03-01 $378,500 (6.0%) $559,494 (11.1%) 1.19 1,640
2020-04-01 $370,786 (3.0%) $550,479 (7.5%) 1.16 1,729
2020-05-01 $375,000 (1.9%) $558,616 (5.3%) 1.14 1,690
2020-06-01 $376,976 (4.7%) $566,327 (8.1%) 1.11 1,466
2020-07-01 $375,000 (2.5%) $578,044 (9.3%) 1.09 1,336
2020-08-01 $378,750 (3.0%) $581,534 (9.4%) 1.09 1,251
2020-09-01 $379,900 (3.0%) $582,257 (9.1%) 1.09 1,167
2020-10-01 $379,900 (2.7%) $591,704 (10.5%) 1.09 1,086
2020-11-01 $379,250 (5.4%) $597,234 (13.4%) 1.11 1,066
2020-12-01 $384,950 (6.9%) $609,339 (15.8%) 1.14 1,012
2021-01-01 $381,000 (5.1%) $627,159 (18.3%) 1.14 843
2021-02-01 $399,950 (9.6%) $691,918 (29.7%) 1.16 609
2021-03-01 $395,833 (4.6%) $669,844 (19.7%) 1.12 527
2021-04-01 $417,455 (12.6%) $680,963 (23.7%) 1.13 505
2021-05-01 $424,950 (13.3%) $715,100 (28.0%) 1.13 496
2021-06-01 $425,437 (12.9%) $704,218 (24.4%) 1.12 548
2021-07-01 $449,500 (19.9%) $696,464 (20.5%) 1.19 572
2021-08-01 $440,700 (16.4%) $667,524 (14.8%) 1.18 612
2021-09-01 $449,825 (18.4%) $667,331 (14.6%) 1.20 616
2021-10-01 $470,500 (23.9%) $673,608 (13.8%) 1.25 614
2021-11-01 $492,200 (29.8%) $713,014 (19.4%) 1.32 533
2021-12-01 $476,214 (23.7%) $691,321 (13.5%) 1.29 469
2022-01-01 $485,000 (27.3%) $707,097 (12.8%) 1.31 375
2022-02-01 $470,128 (17.6%) $714,447 (3.3%) 1.22 335
2022-03-01 $470,950 (19.0%) $754,304 (12.6%) 1.18 330
2022-04-01 $500,000 (19.8%) $756,802 (11.1%) 1.19 345
2022-05-01 $523,575 (23.2%) $754,196 (5.5%) 1.20 469
2022-06-01 $523,563 (23.1%) $768,025 (9.1%) 1.17 607
2022-07-01 $529,900 (17.9%) $779,657 (12.0%) 1.19 786
2022-08-01 $549,900 (24.8%) $792,214 (18.7%) 1.27 806
2022-09-01 $541,653 (20.4%) $775,017 (16.1%) 1.27 827
2022-10-01 $535,000 (13.7%) $733,310 (8.9%) 1.26 850
2022-11-01 $525,000 (6.7%) $717,311 (0.6%) 1.26 875
2022-12-01 $519,000 (9.0%) $718,436 (3.9%) 1.28 822
2023-01-01 $524,974 (8.2%) $737,299 (4.3%) 1.30 751
2023-02-01 $530,576 (12.9%) $738,902 (3.4%) 1.28 704
2023-03-01 $526,876 (11.9%) $755,452 (0.2%) 1.24 678
2023-04-01 $549,900 (10.0%) $782,562 (3.4%) 1.28 666
2023-05-01 $557,450 (6.5%) $794,761 (5.4%) 1.26 703
2023-06-01 $549,675 (5.0%) $758,825 (-1.2%) 1.24 764
2023-07-01 $548,943 (3.6%) $766,709 (-1.7%) 1.25 792
2023-08-01 $525,000 (-4.5%) $767,248 (-3.2%) 1.21 852
2023-09-01 $526,450 (-2.8%) $758,478 (-2.1%) 1.23 898
2023-10-01 $519,700 (-2.9%) $741,790 (1.2%) 1.22 990
2023-11-01 $500,000 (-4.8%) $732,648 (2.1%) 1.19 1,100
2023-12-01 $505,000 (-2.7%) $721,087 (0.4%) 1.23 1,078
2024-01-01 $516,750 (-1.6%) $710,724 (-3.6%) 1.26 1,008
2024-02-01 $537,475 (1.3%) $717,106 (-3.0%) 1.29 991
2024-03-01 $540,000 (2.5%) $756,783 (0.2%) 1.27 987
2024-04-01 $554,450 (0.8%) $775,968 (-0.8%) 1.29 1,045
2024-05-01 $577,500 (3.6%) $800,868 (0.8%) 1.31 1,058
Wilmington's median listing price for 2024-05-01 was $577,500, a difference of $20,050 (3.6%) versus the prior year and $23,050 versus the prior month.

Wilmington's median listing price comes in at 131% of the national average.

Wilmington's average listing price for 2024-05-01 was $800,868, a difference of $6,107 (0.8%) versus the prior year and $24,900 versus the prior month.

For the 2024-05-01 period, Wilmington had 1,058 MLS listings, a difference of 13 listings (1%) versus the prior month and 355 listings (50%) 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 2,150 sqft
2018-02-01 101 days 2,160 sqft
2018-03-01 72 days 2,141 sqft
2018-04-01 62 days 2,155 sqft
2018-05-01 61 days 2,159 sqft
2018-06-01 63 days 2,170 sqft
2018-07-01 64 days 2,174 sqft
2018-08-01 67 days 2,130 sqft
2018-09-01 78 days 2,153 sqft
2018-10-01 101 days 2,161 sqft
2018-11-01 102 days 2,189 sqft
2018-12-01 107 days 2,165 sqft
2019-01-01 96 days 2,191 sqft
2019-02-01 91 days 2,188 sqft
2019-03-01 76 days 2,208 sqft
2019-04-01 58 days 2,202 sqft
2019-05-01 57 days 2,214 sqft
2019-06-01 58 days 2,201 sqft
2019-07-01 63 days 2,203 sqft
2019-08-01 68 days 2,210 sqft
2019-09-01 74 days 2,203 sqft
2019-10-01 78 days 2,196 sqft
2019-11-01 75 days 2,146 sqft
2019-12-01 83 days 2,135 sqft
2020-01-01 92 days 2,152 sqft
2020-02-01 87 days 2,160 sqft
2020-03-01 65 days 2,183 sqft
2020-04-01 66 days 2,152 sqft
2020-05-01 71 days 2,177 sqft
2020-06-01 78 days 2,208 sqft
2020-07-01 70 days 2,217 sqft
2020-08-01 64 days 2,200 sqft
2020-09-01 67 days 2,191 sqft
2020-10-01 68 days 2,165 sqft
2020-11-01 69 days 2,106 sqft
2020-12-01 67 days 2,142 sqft
2021-01-01 74 days 2,131 sqft
2021-02-01 74 days 2,171 sqft
2021-03-01 49 days 2,113 sqft
2021-04-01 46 days 2,161 sqft
2021-05-01 42 days 2,097 sqft
2021-06-01 39 days 2,081 sqft
2021-07-01 39 days 2,121 sqft
2021-08-01 40 days 2,146 sqft
2021-09-01 43 days 2,131 sqft
2021-10-01 45 days 2,133 sqft
2021-11-01 51 days 2,160 sqft
2021-12-01 59 days 2,070 sqft
2022-01-01 64 days 2,115 sqft
2022-02-01 44 days 2,062 sqft
2022-03-01 33 days 1,968 sqft
2022-04-01 32 days 2,042 sqft
2022-05-01 33 days 2,067 sqft
2022-06-01 34 days 2,093 sqft
2022-07-01 37 days 2,132 sqft
2022-08-01 45 days 2,194 sqft
2022-09-01 51 days 2,234 sqft
2022-10-01 54 days 2,213 sqft
2022-11-01 60 days 2,224 sqft
2022-12-01 70 days 2,205 sqft
2023-01-01 78 days 2,200 sqft
2023-02-01 72 days 2,217 sqft
2023-03-01 52 days 2,251 sqft
2023-04-01 46 days 2,243 sqft
2023-05-01 43 days 2,248 sqft
2023-06-01 47 days 2,227 sqft
2023-07-01 45 days 2,184 sqft
2023-08-01 44 days 2,106 sqft
2023-09-01 46 days 2,059 sqft
2023-10-01 49 days 2,045 sqft
2023-11-01 51 days 1,962 sqft
2023-12-01 58 days 1,946 sqft
2024-01-01 73 days 1,980 sqft
2024-02-01 65 days 2,006 sqft
2024-03-01 53 days 1,998 sqft
2024-04-01 49 days 2,000 sqft
2024-05-01 45 days 2,008 sqft
Wilmington's median listing age (time on market) for 2024-05-01 was 45 days. This is 5% longer than the same period one year ago.

Wilmington's median square footage for active listings during the 2024-05-01 period was 2,008 sqft. One year prior, the average listing was 2,248 sqft.