Wilmington VA Loan Rates, Closing Costs & Stats

WILMINGTON, NC

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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's 126 lenders originated 874 VA loans during 2022. The total origination value was $323,520,000, with an average VA loan value of $370,160.

    Wilmington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wilmington averaged 5.87% for the week of 2023-03-17, compared to the national average (all VA variants) of 6.138% for the same period.

    Wilmington's average VA mortgage closing costs are $5,914.

    The average rate for the prior week (2023-03-10) was 5.95% and one month ago for the week of 2023-02-10, the average rate was 5.38%.

    The average rate one year ago was 3.58%.

    For refis of the same type during the week of 2023-03-17, the average rate was 4.7%.

    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
    Mortgage Research Center, LLC 67 4.90% $8,621
    MOVEMENT MORTGAGE, LLC 57 4.82% $7,932
    GUARANTEED RATE, INC. 52 3.85% $13,160
    FREEDOM MORTGAGE CORPORATION 41 4.33% $10,384
    NAVY FEDERAL CREDIT UNION 39 4.18% $7,814
    ANGEL OAK HOME LOANS LLC 39 4.13% $8,119
    QUICKEN LOANS, LLC 36 3.79% $11,356
    Alpha Mortgage Corporation 29 4.63% $11,701
    LOANDEPOT.COM, LLC 28 4.09% $7,135
    UNITED WHOLESALE MORTGAGE, LLC 26 4.46% $8,924
    CALIBER HOME LOANS, INC. 24 3.89% $7,674
    DHI MORTGAGE COMPANY, LTD. 23 3.55% $9,760
    PENNYMAC LOAN SERVICES, LLC 22 3.48% $11,151
    USAA Federal Savings Bank 21 4.63% $6,914
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 19 5.41% $8,143
    NEW DAY FINANCIAL, LLC 14 5.19% $12,817
    UNION HOME MORTGAGE CORP. 12 3.65% $8,773
    VANDERBILT MORTGAGE AND FINANCE, INC. 11 4.70% $7,646
    CORNERSTONE HOME LENDING, INC. 10 5.40% $7,711
    Mr. Cooper ( Nationstar Mortgage ) 10 4.88% $11,599
    American Security Mortgage Corp. 9 4.10% $7,083
    VILLAGE CAPITAL MORTGAGE 8 3.52% $10,749
    SeaTrust Mortgage Company 8 4.11% $8,976
    RESOURCE FINANCIAL SERVICES, INC. 7 5.04% $6,098
    AMERISAVE MORTGAGE CORPORATION 7 3.86% $8,453
    HOMESIDE FINANCIAL, LLC 7 5.23% $6,294
    INTERCOASTAL MORTGAGE COMPANY 7 5.30% $9,087
    Wells Fargo Bank 7 3.70% $5,827
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 4.53% $10,136
    PENTAGON FEDERAL CREDIT UNION 7 3.59% $4,886
    CROSSCOUNTRY MORTGAGE, LLC 7 5.32% $11,197
    GUILD MORTGAGE COMPANY 6 4.77% $14,460
    PULTE MORTGAGE LLC 6 4.50% $5,176
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 5.02% $8,583
    Carrington Mortgage Services, LLC 5 4.40% $4,358
    The Federal Savings Bank 5 5.50% $15,564
    THE MORTGAGE FIRM, INC. 5 4.58% $13,136
    RAPID MORTGAGE COMPANY 4 4.59% $14,361
    AMERICAN FINANCING CORPORATION 4 3.34% $5,214
    CMG MORTGAGE, INC. 4 3.84% $5,123
    HOMESTEAD FUNDING CORP. 4 4.63% $7,200
    JET HOMELOANS, LLC 4 5.69% $12,765
    Mid-Continent Funding, Inc. 4 4.38% $10,675
    NEWREZ LLC 4 4.16% $3,794
    Towne Bank 4 4.31% $5,742
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 4.33% $8,839
    LOANPAL, LLC 3 2.96% $9,961
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 4.71% $5,811
    North State Bank 3 3.96% $9,807
    ON Q FINANCIAL, INC. 3 3.08% $6,828
    LAKEVIEW LOAN SERVICING, LLC 3 4.04% $16,913
    MUTUAL OF OMAHA MORTGAGE, INC. 3 3.33% $2,927
    SECURITYNATIONAL MORTGAGE COMPANY 3 4.83% $15,992
    Gateway First Bank 3 4.71% $3,767
    Renasant Bank 2 5.00% $11,826
    NBKC BANK 2 5.31% $10,365
    CONTOUR MORTGAGE CORPORATION 2 4.44% $9,360
    PLAZA HOME MORTGAGE, INC. 2 5.69% $9,375
    CHURCHILL MORTGAGE CORPORATION 2 5.69% $6,910
    Blue Ridge Bank 2 5.00% $5,532
    VERITAS FUNDING, LLC 2 3.50% $8,058
    North American Savings Bank, F.S.B. 2 3.44% $11,234
    TOWNE MORTGAGE COMPANY 2 4.06% $3,731
    GoPrime Mortgage, Inc. 2 5.75% $15,309
    EMM LOANS LLC 1 3.75% $14,376
    EMBRACE HOME LOANS, INC. 1 2.50% $13,309
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.13% $15,097
    Cornerstone First Mortgage, Inc 1 4.75% $15,382
    Nations Lending Corporation 1 4.50% $20,614
    NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $6,560
    Congressional Bank 1 2.75% $5,989
    West Town Bank & Trust 1 4.63% $15,710
    NFM, INC. 1 3.50% $2,364
    Paramount Residential Mortgage Group, Inc. 1 5.75% $3,905
    Colten Mortgage, LLC 1 3.75% $8,634
    CLEARPATH LENDING 1 1.75% $3,191
    PLANET HOME LENDING, LLC 1 4.25% $4,123
    PNC Bank 1 4.13% $5,695
    PREMIA MORTGAGE, LLC 1 4.38% $5,210
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.50% $15,836
    CIS Financial Services, Inc. 1 5.50% $4,364
    ACADEMY MORTGAGE CORPORATION 1 4.50% $6,074
    Regions Bank 1 5.00% $8,116
    RELIANCE FIRST CAPITAL, LLC 1 5.75% $5,359
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 5.50% $13,264
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.50% $3,197
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $10,582
    Capital City Home Loans, LLC 1 4.38% $3,332
    Sierra Pacific Mortgage Company, Inc. 1 5.00% $4,940
    South State Bank 1 3.38% $12,652
    Strong Home Mortgage, LLC 1 3.75% $3,957
    SUMMIT FUNDING, INC. 1 4.63% $5,081
    Sunflower Bank 1 4.38% $5,763
    Texana Bank 1 3.13% $29,969
    BROKER SOLUTIONS, INC. 1 5.10% $8,647
    TIDEWATER MORTGAGE SERVICES, INC. 1 4.63% $7,455
    Wyndham Capital Mortgage, Inc. 1 4.75% $1,778
    Truist 1 5.20% $6,793
    Barrington Bank & Trust Company, N.A. 1 3.30% $2,365
    Armed Forces Bank 1 4.75% $13,368
    Ameris Bank 1 4.63% $10,119
    U.S. Bank 1 4.13% $18,430
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $2,291
    FIRST HOME MORTGAGE CORPORATION 1 4.50% $21,642
    First Mortgage Solutions, LLC 1 3.25% $11,172
    FIRST SAVINGS MORTGAGE CORPORATION 1 5.25% $17,917
    Flagstar Bank, FSB 1 5.18% $3,373
    First Guaranty Mortgage Corporation 1 2.25% $10,612
    GSF Mortgage Corporation 1 6.00% $3,293
    First Federal Bank of Kansas City 1 3.63% $6,106
    GUARANTY HOME MORTGAGE CORPORATION 1 6.50% $3,728
    First Federal Bank 1 2.75% $1,792
    HOME POINT FINANCIAL CORPORATION 1 3.25% $2,752
    FIRST COMMUNITY MORTGAGE, INC. 1 5.13% $14,875
    HOMESPIRE MORTGAGE CORPORATION 1 4.25% $9,821
    Integrity Home Mortgage Corp 1 5.13% $11,424
    First-Citizens Bank & Trust Company 1 4.75% $17,959
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.88% $7,767
    Lakeview Community Capital, LLC 1 2.63% $2,501
    Leader Bank 1 3.88% $10,155
    EQUITY RESOURCES, INC. 1 4.75% $5,763
    Low VA Rates, LLC 1 4.75% $7,318
    Magnolia Bank 1 2.75% $8,991
    MCLEAN MORTGAGE CORPORATION 1 4.63% $3,476
    Alcova Mortgage LLC 1 5.13% $10,928
    MORTGAGEONE, INC. 1 5.50% $16,966

    The top Wilmington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 67 VA loans originated. Their average total fees are $8,621, which is $689 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Wilmington VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($6,914), LOANDEPOT.COM, LLC ($7,135), VANDERBILT MORTGAGE AND FINANCE, INC. ($7,646), CALIBER HOME LOANS, INC. ($7,674) and CORNERSTONE HOME LENDING, INC. ($7,711).

    The lowest rate Wilmington VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.48%), DHI MORTGAGE COMPANY, LTD. (3.55%), UNION HOME MORTGAGE CORP. (3.65%), QUICKEN LOANS, LLC (3.79%) and GUARANTEED RATE, INC. (3.85%).

    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 1,511
    2019-04-01 $361,348 (6.9%) $512,565 (5.9%) 1.15 1,562
    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%) 1.19 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 (7.5%) 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%) 1.14 1,015
    2021-01-01 $380,000 (4.8%) $626,997 (18.2%) 1.13 845
    2021-02-01 $400,005 (9.6%) $692,638 (29.7%) 1.16 610
    2021-03-01 $395,927 (4.4%) $670,313 (19.7%) 1.12 528
    2021-04-01 $416,625 (12.1%) $680,098 (23.4%) 1.13 506
    2021-05-01 $424,900 (13.3%) $714,513 (27.8%) 1.12 496
    2021-06-01 $425,166 (12.6%) $703,831 (24.2%) 1.12 550
    2021-07-01 $450,000 (20.0%) $699,379 (20.9%) 1.18 576
    2021-08-01 $442,001 (16.7%) $668,783 (15.0%) 1.17 614
    2021-09-01 $449,663 (18.4%) $666,701 (14.5%) 1.20 619
    2021-10-01 $470,250 (23.8%) $677,504 (14.5%) 1.25 616
    2021-11-01 $486,700 (28.4%) $711,522 (19.2%) 1.30 538
    2021-12-01 $475,842 (23.6%) $690,724 (13.4%) 1.29 477
    2022-01-01 $482,500 (27.0%) $710,573 (13.3%) 1.30 381
    2022-02-01 $469,628 (17.4%) $716,391 (3.4%) 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 (11.1%) 1.19 347
    2022-05-01 $524,800 (23.5%) $754,376 (5.6%) 1.20 469
    2022-06-01 $524,475 (23.4%) $768,013 (9.1%) 1.17 608
    2022-07-01 $529,900 (17.8%) $781,066 (11.7%) 1.19 787
    2022-08-01 $549,950 (24.4%) $793,098 (18.6%) 1.27 806
    2022-09-01 $542,537 (20.7%) $775,401 (16.3%) 1.26 827
    2022-10-01 $532,500 (13.2%) $735,985 (8.6%) 1.25 850
    2022-11-01 $525,000 (7.9%) $717,207 (0.8%) 1.26 875
    2022-12-01 $522,873 (9.9%) $723,521 (4.8%) 1.29 822
    2023-01-01 $524,925 (8.8%) $737,154 (3.7%) 1.29 750
    2023-02-01 $531,026 (13.1%) $738,902 (3.1%) 1.28 704
    Wilmington's median listing price for 2023-02-01 was $531,026, a difference of $61,398 (13.1%) versus the prior year and $6,101 versus the prior month.

    Wilmington's median listing price comes in at 128% of the national average.

    Wilmington's average listing price for 2023-02-01 was $738,902, a difference of $22,511 (3.1%) versus the prior year and $1,748 versus the prior month.

    For the 2023-02-01 period, Wilmington had 704 MLS listings, a difference of -46 listings (-6%) versus the prior month and 368 listings (110%) 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 2,163 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 2,167 sqft
    2019-01-01 118 days 2,189 sqft
    2019-02-01 102 days 2,189 sqft
    2019-03-01 87 days 2,206 sqft
    2019-04-01 66 days 2,202 sqft
    2019-05-01 63 days 2,213 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 83 days 2,146 sqft
    2019-12-01 92 days 2,134 sqft
    2020-01-01 96 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 2,193 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 2,131 sqft
    2021-02-01 79 days 2,176 sqft
    2021-03-01 55 days 2,113 sqft
    2021-04-01 50 days 2,161 sqft
    2021-05-01 44 days 2,096 sqft
    2021-06-01 42 days 2,081 sqft
    2021-07-01 41 days 2,121 sqft
    2021-08-01 43 days 2,146 sqft
    2021-09-01 43 days 2,129 sqft
    2021-10-01 46 days 2,132 sqft
    2021-11-01 54 days 2,165 sqft
    2021-12-01 61 days 2,078 sqft
    2022-01-01 64 days 2,132 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 34 days 2,065 sqft
    2022-06-01 35 days 2,093 sqft
    2022-07-01 37 days 2,133 sqft
    2022-08-01 46 days 2,195 sqft
    2022-09-01 52 days 2,237 sqft
    2022-10-01 56 days 2,222 sqft
    2022-11-01 61 days 2,224 sqft
    2022-12-01 72 days 2,205 sqft
    2023-01-01 79 days 2,199 sqft
    2023-02-01 75 days 2,217 sqft
    Wilmington's median listing age (time on market) for 2023-02-01 was 75 days. This is 61% longer than the same period one year ago.

    Wilmington's median square footage for active listings during the 2023-02-01 period was 2,217 sqft. One year prior, the average listing was 2,058 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.