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 13 lenders originated 28 USDA loans during 2022. The total origination value was $6,350,000, with an average USDA loan value of $226,786.

Wilmington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Wilmington averaged -0.35% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

Wilmington's average USDA mortgage closing costs are $5,448.

The average rate for the prior week (2023-11-17) was 6.84% and one month ago for the week of 2023-10-20, the average rate was 7.06%.

The average rate one year ago was 5.9%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.72%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Alpha Mortgage Corporation 7 4.48% $7,573
MOVEMENT MORTGAGE, LLC 4 5.00% $8,011
RAPID MORTGAGE COMPANY 3 5.33% $12,152
Blue Ridge Bank 2 3.44% $9,270
ANGEL OAK HOME LOANS LLC 2 5.13% $8,452
RESOURCE FINANCIAL SERVICES, INC. 2 5.19% $5,655
Towne Bank 2 4.56% $6,101
OCEANSIDE MORTGAGE COMPANY 1 3.13% $1,464
PLAZA HOME MORTGAGE, INC. 1 3.88% $6,529
Carrington Mortgage Services, LLC 1 2.50% $5,926
GUARANTEED RATE, INC. 1 4.25% $6,654
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.75% $8,257
SeaTrust Mortgage Company 1 3.88% $7,350

The top Wilmington USDA lender as defined by loan originations is Alpha Mortgage Corporation, with 7 USDA loans originated. Their average total fees are $7,573, which is $438 lower 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 (2.0%) $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%) 1.11 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%) $512,917 (6.0%) 1.15 1,561
2019-05-01 $369,200 (9.7%) $531,019 (8.4%) 1.15 1,596
2019-06-01 $361,928 (8.0%) $524,566 (8.6%) 1.13 1,685
2019-07-01 $367,000 (10.2%) $529,672 (9.2%) 1.15 1,705
2019-08-01 $369,482 (12.0%) $532,184 (10.4%) 1.17 1,731
2019-09-01 $370,206 (8.9%) $534,446 (9.6%) 1.18 1,738
2019-10-01 $370,278 (8.9%) $535,954 (9.7%) 1.19 1,748
2019-11-01 $361,261 (3.6%) $527,042 (7.5%) 1.18 1,760
2019-12-01 $360,532 (4.5%) $526,546 (8.0%) 1.20 1,674
2020-01-01 $362,500 (3.7%) $530,690 (7.0%) 1.21 1,590
2020-02-01 $365,000 (4.5%) $534,207 (7.2%) 1.20 1,583
2020-03-01 $379,086 (5.4%) $560,028 (11.0%) 1.19 1,645
2020-04-01 $371,759 (2.9%) $551,020 (7.4%) 1.16 1,734
2020-05-01 $375,000 (1.6%) $559,150 (5.3%) 1.14 1,694
2020-06-01 $377,761 (4.4%) $566,714 (8.0%) 1.11 1,470
2020-07-01 $375,000 (2.2%) $578,340 (9.2%) 1.09 1,342
2020-08-01 $378,875 (2.5%) $581,728 (9.3%) 1.09 1,257
2020-09-01 $379,900 (2.6%) $582,550 (9.0%) 1.09 1,171
2020-10-01 $379,900 (2.6%) $591,710 (10.4%) 1.09 1,089
2020-11-01 $379,188 (5.0%) $596,962 (13.3%) 1.11 1,069
2020-12-01 $384,900 (6.8%) $609,110 (15.7%) 1.15 1,015
2021-01-01 $380,000 (4.8%) $626,997 (18.2%) 1.13 845
2021-02-01 $399,950 (9.6%) $692,047 (29.6%) 1.16 610
2021-03-01 $395,899 (4.4%) $670,045 (19.6%) 1.12 528
2021-04-01 $416,625 (12.1%) $679,643 (23.3%) 1.13 506
2021-05-01 $424,900 (13.3%) $714,513 (27.8%) 1.13 496
2021-06-01 $423,725 (12.2%) $702,232 (23.9%) 1.12 550
2021-07-01 $449,500 (19.9%) $694,593 (20.1%) 1.19 576
2021-08-01 $439,825 (16.1%) $666,538 (14.6%) 1.17 614
2021-09-01 $449,663 (18.4%) $666,521 (14.4%) 1.20 619
2021-10-01 $470,112 (23.8%) $674,125 (13.9%) 1.25 616
2021-11-01 $483,450 (27.5%) $711,522 (19.2%) 1.29 538
2021-12-01 $475,842 (23.6%) $689,459 (13.2%) 1.29 477
2022-01-01 $482,500 (27.0%) $710,573 (13.3%) 1.30 381
2022-02-01 $469,564 (17.4%) $715,169 (3.3%) 1.22 336
2022-03-01 $469,475 (18.6%) $753,985 (12.5%) 1.18 330
2022-04-01 $500,000 (20.0%) $755,800 (11.2%) 1.19 347
2022-05-01 $524,800 (23.5%) $754,376 (5.6%) 1.20 469
2022-06-01 $523,975 (23.7%) $767,661 (9.3%) 1.17 608
2022-07-01 $529,900 (17.9%) $781,066 (12.5%) 1.19 787
2022-08-01 $549,900 (25.0%) $792,225 (18.9%) 1.27 806
2022-09-01 $542,537 (20.7%) $775,401 (16.3%) 1.27 827
2022-10-01 $535,000 (13.8%) $733,172 (8.8%) 1.26 850
2022-11-01 $525,000 (8.6%) $717,207 (0.8%) 1.26 875
2022-12-01 $524,900 (10.3%) $723,051 (4.9%) 1.30 822
2023-01-01 $524,925 (8.8%) $737,052 (3.7%) 1.30 750
2023-02-01 $531,022 (13.1%) $738,902 (3.3%) 1.28 704
2023-03-01 $527,163 (12.3%) $755,425 (0.2%) 1.24 678
2023-04-01 $549,900 (10.0%) $782,562 (3.5%) 1.28 666
2023-05-01 $557,900 (6.3%) $794,680 (5.3%) 1.26 704
2023-06-01 $549,450 (4.9%) $758,825 (-1.2%) 1.23 764
2023-07-01 $549,000 (3.6%) $766,709 (-1.8%) 1.25 792
2023-08-01 $525,000 (-4.5%) $767,248 (-3.2%) 1.21 852
2023-09-01 $526,450 (-3.0%) $758,478 (-2.2%) 1.23 898
2023-10-01 $519,700 (-2.9%) $741,790 (1.2%) 1.22 990
Wilmington's median listing price for 2023-10-01 was $519,700, a difference of $-15,300 (-2.9%) versus the prior year and $-6,750 versus the prior month.

Wilmington's median listing price comes in at 122% of the national average.

Wilmington's average listing price for 2023-10-01 was $741,790, a difference of $8,618 (1.2%) versus the prior year and $-16,688 versus the prior month.

For the 2023-10-01 period, Wilmington had 990 MLS listings, a difference of 92 listings (10%) versus the prior month and 140 listings (16%) 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 2,152 sqft
2018-02-01 101 days 2,163 sqft
2018-03-01 73 days 2,150 sqft
2018-04-01 62 days 2,160 sqft
2018-05-01 61 days 2,167 sqft
2018-06-01 63 days 2,182 sqft
2018-07-01 64 days 2,184 sqft
2018-08-01 67 days 2,132 sqft
2018-09-01 78 days 2,157 sqft
2018-10-01 101 days 2,165 sqft
2018-11-01 102 days 2,189 sqft
2018-12-01 107 days 2,167 sqft
2019-01-01 96 days 2,189 sqft
2019-02-01 92 days 2,188 sqft
2019-03-01 76 days 2,206 sqft
2019-04-01 58 days 2,202 sqft
2019-05-01 57 days 2,212 sqft
2019-06-01 58 days 2,201 sqft
2019-07-01 63 days 2,203 sqft
2019-08-01 68 days 2,209 sqft
2019-09-01 74 days 2,200 sqft
2019-10-01 78 days 2,193 sqft
2019-11-01 76 days 2,146 sqft
2019-12-01 83 days 2,134 sqft
2020-01-01 92 days 2,148 sqft
2020-02-01 87 days 2,160 sqft
2020-03-01 65 days 2,180 sqft
2020-04-01 66 days 2,151 sqft
2020-05-01 71 days 2,175 sqft
2020-06-01 78 days 2,205 sqft
2020-07-01 70 days 2,214 sqft
2020-08-01 64 days 2,200 sqft
2020-09-01 67 days 2,191 sqft
2020-10-01 68 days 2,169 sqft
2020-11-01 69 days 2,107 sqft
2020-12-01 67 days 2,144 sqft
2021-01-01 74 days 2,131 sqft
2021-02-01 74 days 2,174 sqft
2021-03-01 49 days 2,113 sqft
2021-04-01 47 days 2,161 sqft
2021-05-01 42 days 2,096 sqft
2021-06-01 39 days 2,067 sqft
2021-07-01 40 days 2,121 sqft
2021-08-01 40 days 2,145 sqft
2021-09-01 43 days 2,129 sqft
2021-10-01 45 days 2,131 sqft
2021-11-01 52 days 2,165 sqft
2021-12-01 59 days 2,075 sqft
2022-01-01 64 days 2,147 sqft
2022-02-01 45 days 2,060 sqft
2022-03-01 33 days 1,977 sqft
2022-04-01 32 days 2,042 sqft
2022-05-01 33 days 2,068 sqft
2022-06-01 34 days 2,093 sqft
2022-07-01 37 days 2,133 sqft
2022-08-01 45 days 2,195 sqft
2022-09-01 51 days 2,237 sqft
2022-10-01 54 days 2,215 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 2,250 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 2,182 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
Wilmington's median listing age (time on market) for 2023-10-01 was 49 days. This is -9% shorter than the same period one year ago.

Wilmington's median square footage for active listings during the 2023-10-01 period was 2,045 sqft. One year prior, the average listing was 2,215 sqft.