Wilmington USDA Loan Rates, Closing Costs & Stats

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 -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.