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 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 -0.2% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Wilmington's average USDA mortgage closing costs are $5,313.

The average rate for the prior week (2022-11-18) was 6.55% and one month ago for the week of 2022-10-21, the average rate was 6.97%.

The average rate one year ago was 3.21%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.11%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 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 $329,900 (2.0%) $482,112 (4.9%) 1.22 1,809
2018-02-01 $331,550 (2.0%) $479,227 (2.2%) 1.20 1,806
2018-03-01 $333,800 (2.0%) $478,763 (0.7%) 1.17 1,864
2018-04-01 $338,188 (1.0%) $484,110 (-0.6%) 1.15 1,880
2018-05-01 $336,500 (-1.0%) $489,767 (-1.2%) 1.12 1,898
2018-06-01 $335,000 (-0.7%) $483,263 (-0.7%) 1.12 1,991
2018-07-01 $333,071 (0.4%) $484,907 (-0.6%) 1.11 2,097
2018-08-01 $329,950 (-0.9%) $482,186 (-0.6%) 1.10 2,095
2018-09-01 $339,900 (2.2%) $487,752 (1.4%) 1.14 2,085
2018-10-01 $340,000 (3.2%) $488,678 (2.9%) 1.15 1,749
2018-11-01 $348,600 (5.7%) $490,197 (3.0%) 1.18 1,672
2018-12-01 $344,900 (4.7%) $487,475 (2.9%) 1.19 1,627
2019-01-01 $349,500 (5.9%) $496,202 (2.9%) 1.21 1,496
2019-02-01 $349,450 (5.4%) $498,498 (4.0%) 1.18 1,476
2019-03-01 $359,761 (7.8%) $504,475 (5.4%) 1.18 1,510
2019-04-01 $361,348 (6.9%) $512,565 (5.9%) 1.15 1,562
2019-05-01 $369,225 (9.7%) $531,000 (8.4%) 1.15 1,598
2019-06-01 $362,300 (8.2%) $524,502 (8.5%) 1.13 1,687
2019-07-01 $367,435 (10.3%) $529,603 (9.2%) 1.15 1,707
2019-08-01 $369,765 (12.1%) $532,112 (10.4%) 1.17 1,733
2019-09-01 $370,914 (9.1%) $534,371 (9.6%) 1.19 1,740
2019-10-01 $370,774 (9.1%) $535,877 (9.7%) 1.20 1,750
2019-11-01 $362,400 (4.0%) $526,976 (7.5%) 1.19 1,762
2019-12-01 $361,094 (4.7%) $526,475 (8.0%) 1.20 1,676
2020-01-01 $362,611 (3.8%) $530,611 (6.9%) 1.21 1,592
2020-02-01 $365,000 (4.5%) $534,124 (7.2%) 1.19 1,585
2020-03-01 $379,325 (5.4%) $559,922 (11.0%) 1.19 1,647
2020-04-01 $372,787 (3.2%) $550,927 (7.5%) 1.17 1,736
2020-05-01 $375,900 (1.8%) $559,046 (5.3%) 1.14 1,696
2020-06-01 $378,500 (4.5%) $566,588 (8.0%) 1.11 1,472
2020-07-01 $375,000 (2.1%) $578,189 (9.2%) 1.09 1,344
2020-08-01 $379,000 (2.5%) $581,570 (9.3%) 1.09 1,259
2020-09-01 $379,900 (2.4%) $582,196 (9.0%) 1.09 1,173
2020-10-01 $379,900 (2.5%) $591,508 (10.4%) 1.09 1,091
2020-11-01 $379,350 (4.7%) $596,749 (13.2%) 1.11 1,071
2020-12-01 $385,000 (6.6%) $608,873 (15.7%) 1.14 1,017
2021-01-01 $382,000 (5.4%) $627,008 (18.2%) 1.14 846
2021-02-01 $401,000 (9.9%) $692,560 (29.7%) 1.17 611
2021-03-01 $399,321 (5.3%) $670,263 (19.7%) 1.13 529
2021-04-01 $417,450 (12.0%) $679,394 (23.3%) 1.13 507
2021-05-01 $425,000 (13.1%) $713,808 (27.7%) 1.12 498
2021-06-01 $425,450 (12.4%) $703,777 (24.2%) 1.12 551
2021-07-01 $449,942 (20.0%) $698,458 (20.8%) 1.18 576
2021-08-01 $440,983 (16.4%) $668,847 (15.0%) 1.18 614
2021-09-01 $449,288 (18.3%) $665,671 (14.3%) 1.20 618
2021-10-01 $469,900 (23.7%) $675,633 (14.2%) 1.25 612
2021-11-01 $485,400 (28.0%) $710,007 (19.0%) 1.30 536
2021-12-01 $474,888 (23.4%) $689,028 (13.2%) 1.29 476
2022-01-01 $481,309 (26.0%) $712,581 (13.7%) 1.30 380
2022-02-01 $468,688 (16.9%) $715,259 (3.3%) 1.22 336
2022-03-01 $468,735 (17.4%) $752,230 (12.2%) 1.17 331
2022-04-01 $499,900 (19.8%) $754,931 (11.1%) 1.19 348
2022-05-01 $519,500 (22.2%) $753,385 (5.5%) 1.19 470
2022-06-01 $521,708 (22.6%) $767,225 (9.0%) 1.16 609
2022-07-01 $529,900 (17.8%) $779,981 (11.7%) 1.20 787
2022-08-01 $549,900 (24.7%) $792,191 (18.4%) 1.27 806
2022-09-01 $540,650 (20.3%) $774,776 (16.4%) 1.27 827
2022-10-01 $529,900 (12.8%) $735,343 (8.8%) 1.25 850
Wilmington's median listing price for 2022-10-01 was $529,900, a difference of $60,000 (12.8%) versus the prior year and $-10,750 versus the prior month.

Wilmington's median listing price comes in at 125% of the national average.

Wilmington's average listing price for 2022-10-01 was $735,343, a difference of $59,710 (8.8%) versus the prior year and $-39,433 versus the prior month.

For the 2022-10-01 period, Wilmington had 850 MLS listings, a difference of 23 listings (3%) versus the prior month and 238 listings (39%) 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
2018-01-01 114 days 2,153 sqft
2018-02-01 112 days 2,164 sqft
2018-03-01 92 days 2,150 sqft
2018-04-01 72 days 2,162 sqft
2018-05-01 71 days 2,168 sqft
2018-06-01 71 days 2,184 sqft
2018-07-01 72 days 2,187 sqft
2018-08-01 74 days 2,132 sqft
2018-09-01 86 days 2,157 sqft
2018-10-01 108 days 2,166 sqft
2018-11-01 113 days 2,189 sqft
2018-12-01 116 days 2,171 sqft
2019-01-01 118 days 2,190 sqft
2019-02-01 102 days 2,189 sqft
2019-03-01 87 days 2,208 sqft
2019-04-01 66 days 2,202 sqft
2019-05-01 63 days 2,214 sqft
2019-06-01 64 days 2,201 sqft
2019-07-01 68 days 2,203 sqft
2019-08-01 73 days 2,209 sqft
2019-09-01 80 days 2,200 sqft
2019-10-01 84 days 2,193 sqft
2019-11-01 84 days 2,146 sqft
2019-12-01 92 days 2,134 sqft
2020-01-01 97 days 2,148 sqft
2020-02-01 96 days 2,160 sqft
2020-03-01 72 days 2,180 sqft
2020-04-01 71 days 2,151 sqft
2020-05-01 78 days 2,175 sqft
2020-06-01 86 days 2,206 sqft
2020-07-01 77 days 2,215 sqft
2020-08-01 73 days 2,200 sqft
2020-09-01 76 days 2,192 sqft
2020-10-01 74 days 2,171 sqft
2020-11-01 73 days 2,108 sqft
2020-12-01 71 days 2,144 sqft
2021-01-01 78 days 2,132 sqft
2021-02-01 79 days 2,178 sqft
2021-03-01 55 days 2,114 sqft
2021-04-01 50 days 2,161 sqft
2021-05-01 44 days 2,096 sqft
2021-06-01 42 days 2,084 sqft
2021-07-01 42 days 2,121 sqft
2021-08-01 43 days 2,145 sqft
2021-09-01 43 days 2,128 sqft
2021-10-01 46 days 2,131 sqft
2021-11-01 54 days 2,164 sqft
2021-12-01 61 days 2,072 sqft
2022-01-01 64 days 2,126 sqft
2022-02-01 47 days 2,058 sqft
2022-03-01 33 days 1,977 sqft
2022-04-01 34 days 2,042 sqft
2022-05-01 35 days 2,067 sqft
2022-06-01 35 days 2,094 sqft
2022-07-01 37 days 2,134 sqft
2022-08-01 46 days 2,205 sqft
2022-09-01 52 days 2,240 sqft
2022-10-01 56 days 2,225 sqft
Wilmington's median listing age (time on market) for 2022-10-01 was 56 days. This is 22% longer than the same period one year ago.

Wilmington's median square footage for active listings during the 2022-10-01 period was 2,225 sqft. One year prior, the average listing was 2,131 sqft.