Wilmington USDA Loans

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 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.