Wilmington VA Loan Rates, Closing Costs & Stats
WILMINGTON, NC
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.