Wilmington VA Loan Rates, Closing Costs & Stats

WILMINGTON, DE-MD-NJ

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Wilmington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wilmington averaged 0% for the week of 2023-10-27, compared to the national average (all VA variants) of 7.441% for the same period.

    Wilmington's average VA mortgage closing costs are $0.

    The average rate for the prior week (2023-10-20) was 0% and one month ago for the week of 2023-09-22, the average rate was 0%.

    The average rate one year ago was 0%.

    For refis of the same type during the week of 2023-10-27, the average rate was 0%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Wilmington VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 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

    The lowest fee Wilmington VA lenders (with over 10 loans originated) are .

    The lowest rate Wilmington VA 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 $229,995 (5.0%) $343,033 (3.1%) 0.85 20,095
    2018-02-01 $236,450 (7.5%) $345,565 (2.6%) 0.86 20,323
    2018-03-01 $240,000 (5.3%) $355,219 (2.9%) 0.84 19,664
    2018-04-01 $249,950 (6.4%) $368,548 (4.1%) 0.85 20,535
    2018-05-01 $264,500 (8.2%) $382,187 (5.4%) 0.88 21,368
    2018-06-01 $269,000 (8.7%) $387,896 (5.6%) 0.90 21,953
    2018-07-01 $269,900 (8.2%) $387,569 (6.0%) 0.90 22,045
    2018-08-01 $262,450 (5.8%) $381,709 (5.9%) 0.88 22,059
    2018-09-01 $260,000 (5.3%) $381,134 (5.3%) 0.87 22,375
    2018-10-01 $264,900 (6.0%) $381,516 (4.1%) 0.90 22,722
    2018-11-01 $262,000 (8.1%) $378,687 (7.1%) 0.89 21,975
    2018-12-01 $252,900 (6.3%) $372,121 (7.1%) 0.87 20,170
    2019-01-01 $249,900 (8.7%) $362,568 (5.7%) 0.86 18,671
    2019-02-01 $250,000 (5.7%) $367,848 (6.5%) 0.84 18,442
    2019-03-01 $263,571 (9.8%) $382,683 (7.7%) 0.86 18,991
    2019-04-01 $275,000 (10.0%) $395,207 (7.2%) 0.87 19,615
    2019-05-01 $285,000 (7.8%) $405,428 (6.1%) 0.89 20,162
    2019-06-01 $289,900 (7.8%) $407,007 (4.9%) 0.91 20,608
    2019-07-01 $285,996 (6.0%) $404,628 (4.4%) 0.90 20,477
    2019-08-01 $288,811 (10.0%) $407,786 (6.8%) 0.91 19,922
    2019-09-01 $294,542 (13.3%) $416,991 (9.4%) 0.94 19,183
    2019-10-01 $298,363 (12.6%) $423,936 (11.1%) 0.96 18,545
    2019-11-01 $294,500 (12.4%) $421,292 (11.3%) 0.97 17,420
    2019-12-01 $285,323 (12.8%) $419,392 (12.7%) 0.95 15,065
    2020-01-01 $284,423 (13.8%) $416,709 (14.9%) 0.95 13,595
    2020-02-01 $289,900 (16.0%) $429,686 (16.8%) 0.95 13,199
    2020-03-01 $299,945 (13.8%) $442,907 (15.7%) 0.94 13,319
    2020-04-01 $299,900 (9.1%) $442,254 (11.9%) 0.94 11,884
    2020-05-01 $309,900 (8.7%) $451,144 (11.3%) 0.94 12,384
    2020-06-01 $327,450 (13.0%) $471,847 (15.9%) 0.96 12,504
    2020-07-01 $339,900 (18.9%) $495,159 (22.4%) 0.99 11,421
    2020-08-01 $339,900 (17.7%) $503,114 (23.4%) 0.97 10,844
    2020-09-01 $339,950 (15.4%) $505,813 (21.3%) 0.97 10,867
    2020-10-01 $344,900 (15.6%) $513,941 (21.2%) 0.99 10,818
    2020-11-01 $337,450 (14.6%) $508,929 (20.8%) 0.99 10,399
    2020-12-01 $325,000 (13.9%) $499,083 (19.0%) 0.97 9,092
    2021-01-01 $320,000 (12.5%) $500,424 (20.1%) 0.96 7,971
    2021-02-01 $320,000 (10.4%) $512,033 (19.2%) 0.93 7,131
    2021-03-01 $325,000 (8.4%) $521,952 (17.9%) 0.92 7,271
    2021-04-01 $336,450 (12.2%) $537,386 (21.5%) 0.91 7,630
    2021-05-01 $339,000 (9.4%) $524,055 (16.2%) 0.90 8,299
    2021-06-01 $330,000 (0.8%) $501,103 (6.2%) 0.87 9,872
    2021-07-01 $325,000 (-4.4%) $483,692 (-2.3%) 0.86 10,683
    2021-08-01 $319,900 (-5.9%) $470,906 (-6.4%) 0.85 10,996
    2021-09-01 $319,500 (-6.0%) $467,979 (-7.5%) 0.85 11,022
    2021-10-01 $319,900 (-7.3%) $470,843 (-8.4%) 0.85 10,708
    2021-11-01 $310,950 (-7.9%) $469,829 (-7.7%) 0.83 9,787
    2021-12-01 $299,950 (-7.7%) $465,514 (-6.7%) 0.81 8,420
    2022-01-01 $299,900 (-6.3%) $476,067 (-4.9%) 0.81 6,978
    2022-02-01 $299,950 (-6.3%) $485,656 (-5.2%) 0.78 6,567
    2022-03-01 $310,000 (-4.6%) $495,342 (-5.1%) 0.78 6,928
    2022-04-01 $325,000 (-3.4%) $500,725 (-6.8%) 0.77 7,324
    2022-05-01 $339,900 (0.3%) $505,497 (-3.5%) 0.78 8,550
    2022-06-01 $348,450 (5.6%) $503,945 (0.6%) 0.78 9,662
    2022-07-01 $345,000 (6.2%) $499,386 (3.2%) 0.78 10,794
    2022-08-01 $339,450 (6.1%) $495,106 (5.1%) 0.78 10,780
    2022-09-01 $335,000 (4.9%) $494,977 (5.8%) 0.78 10,739
    2022-10-01 $335,000 (4.7%) $498,231 (5.8%) 0.79 11,154
    2022-11-01 $329,950 (6.1%) $497,690 (5.9%) 0.79 10,999
    2022-12-01 $324,937 (8.3%) $492,177 (5.7%) 0.80 9,605
    2023-01-01 $321,500 (7.2%) $496,293 (4.3%) 0.80 8,729
    2023-02-01 $322,450 (7.5%) $510,733 (5.2%) 0.78 8,087
    2023-03-01 $328,450 (6.0%) $516,707 (4.3%) 0.77 7,969
    2023-04-01 $339,640 (4.5%) $538,707 (7.6%) 0.79 8,053
    2023-05-01 $349,450 (2.8%) $544,206 (7.7%) 0.79 8,047
    2023-06-01 $354,950 (1.9%) $560,807 (11.3%) 0.80 8,318
    2023-07-01 $350,000 (1.5%) $553,774 (10.9%) 0.80 8,348
    2023-08-01 $350,000 (3.1%) $543,128 (9.7%) 0.80 8,555
    2023-09-01 $350,000 (4.5%) $541,242 (9.4%) 0.81 9,092
    Wilmington's median listing price for 2023-09-01 was $350,000, a difference of $15,000 (4.5%) versus the prior year and $0 versus the prior month.

    Wilmington's median listing price comes in at 81% of the national average.

    Wilmington's average listing price for 2023-09-01 was $541,242, a difference of $46,265 (9.4%) versus the prior year and $-1,886 versus the prior month.

    For the 2023-09-01 period, Wilmington had 9,092 MLS listings, a difference of 537 listings (6%) versus the prior month and -1,647 listings (-15%) 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 81 days 1,700 sqft
    2018-02-01 73 days 1,705 sqft
    2018-03-01 54 days 1,718 sqft
    2018-04-01 52 days 1,755 sqft
    2018-05-01 48 days 1,800 sqft
    2018-06-01 51 days 1,825 sqft
    2018-07-01 57 days 1,826 sqft
    2018-08-01 59 days 1,805 sqft
    2018-09-01 60 days 1,800 sqft
    2018-10-01 60 days 1,800 sqft
    2018-11-01 63 days 1,800 sqft
    2018-12-01 72 days 1,764 sqft
    2019-01-01 79 days 1,753 sqft
    2019-02-01 72 days 1,777 sqft
    2019-03-01 58 days 1,806 sqft
    2019-04-01 46 days 1,831 sqft
    2019-05-01 45 days 1,863 sqft
    2019-06-01 49 days 1,875 sqft
    2019-07-01 57 days 1,854 sqft
    2019-08-01 57 days 1,857 sqft
    2019-09-01 58 days 1,875 sqft
    2019-10-01 58 days 1,884 sqft
    2019-11-01 61 days 1,850 sqft
    2019-12-01 73 days 1,827 sqft
    2020-01-01 79 days 1,800 sqft
    2020-02-01 62 days 1,825 sqft
    2020-03-01 45 days 1,843 sqft
    2020-04-01 58 days 1,829 sqft
    2020-05-01 71 days 1,860 sqft
    2020-06-01 53 days 1,881 sqft
    2020-07-01 43 days 1,874 sqft
    2020-08-01 40 days 1,846 sqft
    2020-09-01 39 days 1,790 sqft
    2020-10-01 45 days 1,776 sqft
    2020-11-01 49 days 1,739 sqft
    2020-12-01 58 days 1,686 sqft
    2021-01-01 64 days 1,632 sqft
    2021-02-01 56 days 1,607 sqft
    2021-03-01 42 days 1,622 sqft
    2021-04-01 35 days 1,656 sqft
    2021-05-01 32 days 1,672 sqft
    2021-06-01 33 days 1,666 sqft
    2021-07-01 37 days 1,650 sqft
    2021-08-01 41 days 1,622 sqft
    2021-09-01 45 days 1,602 sqft
    2021-10-01 45 days 1,597 sqft
    2021-11-01 49 days 1,558 sqft
    2021-12-01 56 days 1,530 sqft
    2022-01-01 61 days 1,504 sqft
    2022-02-01 49 days 1,515 sqft
    2022-03-01 35 days 1,533 sqft
    2022-04-01 33 days 1,544 sqft
    2022-05-01 32 days 1,596 sqft
    2022-06-01 35 days 1,642 sqft
    2022-07-01 38 days 1,618 sqft
    2022-08-01 44 days 1,591 sqft
    2022-09-01 49 days 1,584 sqft
    2022-10-01 48 days 1,596 sqft
    2022-11-01 52 days 1,587 sqft
    2022-12-01 61 days 1,560 sqft
    2023-01-01 67 days 1,545 sqft
    2023-02-01 63 days 1,542 sqft
    2023-03-01 50 days 1,555 sqft
    2023-04-01 44 days 1,560 sqft
    2023-05-01 44 days 1,587 sqft
    2023-06-01 45 days 1,627 sqft
    2023-07-01 45 days 1,618 sqft
    2023-08-01 45 days 1,594 sqft
    2023-09-01 45 days 1,576 sqft
    Wilmington's median listing age (time on market) for 2023-09-01 was 45 days. This is -8% shorter than the same period one year ago.

    Wilmington's median square footage for active listings during the 2023-09-01 period was 1,576 sqft. One year prior, the average listing was 1,584 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.