Wilmington USDA Loan Rates, Closing Costs & Stats
Wilmington, OH
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 22 lenders originated 38 USDA loans during 2023. The total origination value was $6,860,000, with an average USDA loan value of $180,526.
Wilmington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Wilmington
averaged
6.38%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Wilmington's average USDA mortgage closing costs are $4,786.
The average rate for the prior week (2024-11-01) was
6.45% and
one month ago for the week of 2024-10-04, the
average rate was 6.08%.
The average rate one year ago was 7.72%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.48%.
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 |
|---|---|---|---|
| LOANDEPOT.COM, LLC | 10 | 6.57% | $5,881 |
| RUOFF MORTGAGE COMPANY, INC. | 3 | 6.67% | $3,244 |
| RiverHills Bank | 2 | 6.63% | $4,752 |
| RAPID MORTGAGE COMPANY | 2 | 6.94% | $9,387 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 6.44% | $6,645 |
| CROSSCOUNTRY MORTGAGE, LLC | 2 | 7.00% | $7,256 |
| 1st National Bank | 2 | 6.63% | $3,767 |
| MID AMERICA MORTGAGE, INC. | 1 | 7.13% | $3,797 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.75% | $6,896 |
| NEWREZ LLC | 1 | 6.99% | $7,570 |
| Northwest Bank | 1 | 5.38% | $8,080 |
| POLARIS HOME FUNDING CORP. | 1 | 7.50% | $6,312 |
| T2 FINANCIAL LLC | 1 | 6.63% | $6,686 |
| THRIVE MORTGAGE, LLC | 1 | 7.63% | $5,995 |
| U.S. Bank | 1 | 6.75% | $4,480 |
| WRIGHT-PATT CREDIT UNION, INC. | 1 | 5.00% | $10,515 |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 1 | 6.63% | $5,777 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 5.75% | $9,306 |
| Cincinnati Federal | 1 | 6.00% | $4,816 |
| FIRST COMMUNITY MORTGAGE, INC. | 1 | 6.13% | $5,358 |
| GUILD MORTGAGE COMPANY | 1 | 6.13% | $7,725 |
| Hometown Equity Mortgage, LLC | 1 | 6.13% | $10,153 |
The top Wilmington USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with
10 USDA loans originated. Their average total fees are
$5,881, which is $2,637
higher than the next largest lender,
RUOFF MORTGAGE COMPANY, INC..
The lowest fee Wilmington USDA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC ($5,881), .
The lowest rate Wilmington USDA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC (6.57%), .