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 93 lenders originated 603 VA loans during 2023. The total origination value was $248,115,000, with an average VA loan value of $411,468.

    Wilmington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wilmington averaged 6.92% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Wilmington's average VA mortgage closing costs are $6,210.

    The average rate for the prior week (2024-04-12) was 6.65% and one month ago for the week of 2024-03-15, the average rate was 6.41%.

    The average rate one year ago was 6%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.9%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 53 6.63% $8,915
    MOVEMENT MORTGAGE, LLC 49 6.33% $9,348
    UNITED WHOLESALE MORTGAGE, LLC 43 6.04% $8,847
    NAVY FEDERAL CREDIT UNION 43 5.73% $7,164
    DHI MORTGAGE COMPANY, LTD. 38 5.33% $6,573
    GUARANTEED RATE, INC. 32 6.08% $8,562
    QUICKEN LOANS, LLC 26 6.17% $14,467
    PENNYMAC LOAN SERVICES, LLC 18 5.78% $10,546
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 17 6.50% $6,412
    Integrity Home Mortgage Corp 15 6.45% $9,475
    LOANDEPOT.COM, LLC 13 6.00% $9,728
    FREEDOM MORTGAGE CORPORATION 13 6.41% $18,203
    CORNERSTONE HOME LENDING, INC. 12 6.23% $14,784
    INTERCOASTAL MORTGAGE COMPANY 10 6.37% $9,409
    NEW DAY FINANCIAL, LLC 10 7.08% $19,179
    NEWREZ LLC 9 6.39% $9,361
    CROSSCOUNTRY MORTGAGE, LLC 9 6.65% $14,548
    VANDERBILT MORTGAGE AND FINANCE, INC. 8 6.36% $7,662
    Towne Bank 7 6.29% $11,820
    USAA Federal Savings Bank 7 6.32% $5,928
    The Federal Savings Bank 7 6.00% $19,689
    MORTGAGE SOLUTIONS OF COLORADO, LLC 5 6.85% $6,622
    Plains Commerce Bank 5 5.73% $8,510
    CALIBER HOME LOANS, INC. 5 6.20% $4,768
    GUILD MORTGAGE COMPANY 5 6.60% $7,939
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.90% $5,341
    American Security Mortgage Corp. 4 5.81% $5,090
    JET HOMELOANS, LLC 4 5.72% $9,436
    Prosperity Home Mortgage, LLC 4 6.34% $15,901
    BROKER SOLUTIONS, INC. 4 5.63% $10,980
    PENTAGON FEDERAL CREDIT UNION 4 5.81% $4,301
    CMG MORTGAGE, INC. 4 6.03% $7,589
    NBKC BANK 4 5.88% $5,675
    North State Bank 3 5.88% $9,475
    Mr. Cooper ( Nationstar Mortgage ) 3 5.92% $9,419
    PULTE MORTGAGE LLC 3 6.21% $2,268
    Barrington Bank & Trust Company, N.A. 3 6.08% $8,086
    SeaTrust Mortgage Company 3 6.16% $9,334
    AMERISAVE MORTGAGE CORPORATION 3 5.21% $19,828
    Wells Fargo Bank 2 5.88% $3,656
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.88% $7,136
    CONTOUR MORTGAGE CORPORATION 2 6.44% $14,000
    Fifth Third Bank 2 6.81% $5,171
    Flagstar Bank, FSB 2 6.11% $9,719
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.19% $8,130
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $7,151
    Nations Lending Corporation 2 7.50% $5,918
    Northpointe Bank 2 6.19% $3,436
    RELIANCE FIRST CAPITAL, LLC 2 6.81% $7,859
    RESOURCE FINANCIAL SERVICES, INC. 2 6.69% $2,958
    SFMC, LP 2 7.25% $26,351
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 6.94% $4,133
    George Mason Mortgage, LLC 1 6.49% $14,477
    Towne Mortgage of the Carolinas, LLC 1 5.75% $11,075
    Truist 1 6.70% $3,509
    Gateway First Bank 1 6.13% $5,291
    First Heritage Mortgage, LLC 1 6.99% $3,505
    First-Citizens Bank & Trust Company 1 6.00% $9,976
    First Bank 1 5.50% $2,448
    NFM, INC. 1 6.13% $39,108
    UNION HOME MORTGAGE CORP. 1 6.00% $14,204
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $13,791
    Paramount Residential Mortgage Group, Inc. 1 6.25% $2,419
    FBC MORTGAGE, LLC 1 5.13% $7,229
    CARDINAL FINANCIAL 1 5.75% $17,853
    Capital Bank 1 6.25% $8,181
    PLANET HOME LENDING, LLC 1 7.50% $7,050
    PNC Bank 1 5.88% $10,291
    PREMIA MORTGAGE, LLC 1 6.13% $4,839
    BNC National Bank 1 5.63% $6,892
    Blue Ridge Bank 1 7.50% $4,578
    BAY-VALLEY MORTGAGE GROUP 1 6.63% $4,667
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $15,784
    Renasant Bank 1 7.50% $3,588
    AMERICAN FINANCING CORPORATION 1 5.63% $5,319
    Bank of England 1 5.75% $17,222
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $13,791
    Sierra Pacific Mortgage Company, Inc. 1 5.50% $9,664
    Alcova Mortgage LLC 1 5.75% $10,672
    SOUTHERN TRUST MORTGAGE, LLC 1 6.63% $8,689
    SOUTHWEST STAGE FUNDING, LLC 1 6.25% $5,302
    Strong Home Mortgage, LLC 1 5.75% $2,705
    Armed Forces Bank 1 5.75% $2,697
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.63% $6,710
    TOP FLITE FINANCIAL, INC. 1 6.25% $18,839
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $19,760
    LADERA LENDING, INC. 1 5.63% $15,546
    Magnolia Bank 1 6.25% $12,665
    Mid-Continent Funding, Inc. 1 7.00% $14,791
    MILEND, INC. 1 7.13% $16,211
    HOMESIDE FINANCIAL, LLC 1 6.13% $11,114
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.75% $12,021
    GoPrime Mortgage, Inc. 1 6.25% $5,757

    The top Wilmington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 53 VA loans originated. Their average total fees are $8,915, which is $433 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Wilmington VA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,412), DHI MORTGAGE COMPANY, LTD. ($6,573), NAVY FEDERAL CREDIT UNION ($7,164), GUARANTEED RATE, INC. ($8,562) and UNITED WHOLESALE MORTGAGE, LLC ($8,847).

    The lowest rate Wilmington VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.33%), NAVY FEDERAL CREDIT UNION (5.73%), PENNYMAC LOAN SERVICES, LLC (5.78%), LOANDEPOT.COM, LLC (6.00%) and UNITED WHOLESALE MORTGAGE, LLC (6.04%).

    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 (2.1%) $482,074 (4.9%) 1.22 1,797
    2018-02-01 $331,200 (1.9%) $478,991 (2.1%) 1.20 1,796
    2018-03-01 $332,900 (1.7%) $478,421 (0.4%) 1.17 1,853
    2018-04-01 $337,068 (0.6%) $483,624 (-0.9%) 1.14 1,870
    2018-05-01 $336,150 (-1.1%) $489,390 (-1.4%) 1.12 1,890
    2018-06-01 $334,900 (-0.3%) $482,560 (-0.9%) 1.12 1,982
    2018-07-01 $332,306 (0.7%) $484,445 (-0.8%) 1.11 2,088
    2018-08-01 $329,949 (-0.4%) $481,366 (-0.9%) 1.11 2,088
    2018-09-01 $339,900 (2.6%) $486,980 (1.2%) 1.14 2,078
    2018-10-01 $339,935 (3.3%) $487,736 (2.8%) 1.15 1,743
    2018-11-01 $347,838 (5.7%) $489,096 (2.9%) 1.18 1,665
    2018-12-01 $344,700 (4.8%) $486,617 (2.7%) 1.19 1,621
    2019-01-01 $349,000 (5.8%) $495,302 (2.7%) 1.21 1,490
    2019-02-01 $348,562 (5.2%) $497,550 (3.9%) 1.18 1,469
    2019-03-01 $357,143 (7.3%) $503,587 (5.3%) 1.17 1,503
    2019-04-01 $360,000 (6.8%) $512,122 (5.9%) 1.14 1,554
    2019-05-01 $367,867 (9.4%) $530,726 (8.5%) 1.15 1,592
    2019-06-01 $360,000 (7.5%) $523,945 (8.6%) 1.13 1,679
    2019-07-01 $365,867 (10.1%) $529,045 (9.2%) 1.15 1,700
    2019-08-01 $367,610 (11.4%) $531,589 (10.4%) 1.16 1,726
    2019-09-01 $368,925 (8.5%) $533,886 (9.6%) 1.18 1,734
    2019-10-01 $369,778 (8.8%) $535,417 (9.8%) 1.19 1,744
    2019-11-01 $360,000 (3.5%) $526,504 (7.7%) 1.18 1,756
    2019-12-01 $360,005 (4.4%) $526,090 (8.1%) 1.20 1,670
    2020-01-01 $362,435 (3.9%) $530,229 (7.1%) 1.21 1,586
    2020-02-01 $364,985 (4.7%) $533,555 (7.2%) 1.19 1,578
    2020-03-01 $378,500 (6.0%) $559,494 (11.1%) 1.19 1,640
    2020-04-01 $370,786 (3.0%) $550,479 (7.5%) 1.16 1,729
    2020-05-01 $375,000 (1.9%) $558,616 (5.3%) 1.14 1,690
    2020-06-01 $376,976 (4.7%) $566,327 (8.1%) 1.11 1,466
    2020-07-01 $375,000 (2.5%) $578,044 (9.3%) 1.09 1,336
    2020-08-01 $378,750 (3.0%) $581,534 (9.4%) 1.09 1,251
    2020-09-01 $379,900 (3.0%) $582,257 (9.1%) 1.09 1,167
    2020-10-01 $379,900 (2.7%) $591,704 (10.5%) 1.09 1,086
    2020-11-01 $379,250 (5.4%) $597,234 (13.4%) 1.11 1,066
    2020-12-01 $384,950 (6.9%) $609,339 (15.8%) 1.14 1,012
    2021-01-01 $381,000 (5.1%) $627,159 (18.3%) 1.14 843
    2021-02-01 $399,950 (9.6%) $691,918 (29.7%) 1.16 609
    2021-03-01 $395,833 (4.6%) $669,844 (19.7%) 1.12 527
    2021-04-01 $417,455 (12.6%) $680,963 (23.7%) 1.13 505
    2021-05-01 $424,950 (13.3%) $715,100 (28.0%) 1.13 496
    2021-06-01 $425,437 (12.9%) $704,218 (24.4%) 1.12 548
    2021-07-01 $449,500 (19.9%) $696,464 (20.5%) 1.19 572
    2021-08-01 $440,700 (16.4%) $667,524 (14.8%) 1.18 612
    2021-09-01 $449,825 (18.4%) $667,331 (14.6%) 1.20 616
    2021-10-01 $470,500 (23.9%) $673,608 (13.8%) 1.25 614
    2021-11-01 $492,200 (29.8%) $713,014 (19.4%) 1.32 533
    2021-12-01 $476,214 (23.7%) $691,321 (13.5%) 1.29 469
    2022-01-01 $485,000 (27.3%) $707,097 (12.8%) 1.31 375
    2022-02-01 $470,128 (17.6%) $714,447 (3.3%) 1.22 335
    2022-03-01 $470,950 (19.0%) $754,304 (12.6%) 1.18 330
    2022-04-01 $500,000 (19.8%) $756,802 (11.1%) 1.19 345
    2022-05-01 $523,575 (23.2%) $754,196 (5.5%) 1.20 469
    2022-06-01 $523,563 (23.1%) $768,025 (9.1%) 1.17 607
    2022-07-01 $529,900 (17.9%) $779,657 (12.0%) 1.19 786
    2022-08-01 $549,900 (24.8%) $792,214 (18.7%) 1.27 806
    2022-09-01 $541,653 (20.4%) $775,017 (16.1%) 1.27 827
    2022-10-01 $535,000 (13.7%) $733,310 (8.9%) 1.26 850
    2022-11-01 $525,000 (6.7%) $717,311 (0.6%) 1.26 875
    2022-12-01 $519,000 (9.0%) $718,436 (3.9%) 1.28 822
    2023-01-01 $524,974 (8.2%) $737,299 (4.3%) 1.30 751
    2023-02-01 $530,576 (12.9%) $738,902 (3.4%) 1.28 704
    2023-03-01 $526,876 (11.9%) $755,452 (0.2%) 1.24 678
    2023-04-01 $549,900 (10.0%) $782,562 (3.4%) 1.28 666
    2023-05-01 $557,450 (6.5%) $794,761 (5.4%) 1.26 703
    2023-06-01 $549,675 (5.0%) $758,825 (-1.2%) 1.24 764
    2023-07-01 $548,943 (3.6%) $766,709 (-1.7%) 1.25 792
    2023-08-01 $525,000 (-4.5%) $767,248 (-3.2%) 1.21 852
    2023-09-01 $526,450 (-2.8%) $758,478 (-2.1%) 1.23 898
    2023-10-01 $519,700 (-2.9%) $741,790 (1.2%) 1.22 990
    2023-11-01 $500,000 (-4.8%) $732,648 (2.1%) 1.19 1,100
    2023-12-01 $505,000 (-2.7%) $721,087 (0.4%) 1.23 1,078
    2024-01-01 $516,750 (-1.6%) $710,724 (-3.6%) 1.26 1,008
    2024-02-01 $537,475 (1.3%) $717,106 (-3.0%) 1.29 991
    2024-03-01 $540,000 (2.5%) $756,783 (0.2%) 1.27 987
    Wilmington's median listing price for 2024-03-01 was $540,000, a difference of $13,124 (2.5%) versus the prior year and $2,525 versus the prior month.

    Wilmington's median listing price comes in at 127% of the national average.

    Wilmington's average listing price for 2024-03-01 was $756,783, a difference of $1,331 (0.2%) versus the prior year and $39,677 versus the prior month.

    For the 2024-03-01 period, Wilmington had 987 MLS listings, a difference of -4 listings (0%) versus the prior month and 309 listings (46%) 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
    2018-01-01 103 days 2,150 sqft
    2018-02-01 101 days 2,160 sqft
    2018-03-01 72 days 2,141 sqft
    2018-04-01 62 days 2,155 sqft
    2018-05-01 61 days 2,159 sqft
    2018-06-01 63 days 2,170 sqft
    2018-07-01 64 days 2,174 sqft
    2018-08-01 67 days 2,130 sqft
    2018-09-01 78 days 2,153 sqft
    2018-10-01 101 days 2,161 sqft
    2018-11-01 102 days 2,189 sqft
    2018-12-01 107 days 2,165 sqft
    2019-01-01 96 days 2,191 sqft
    2019-02-01 91 days 2,188 sqft
    2019-03-01 76 days 2,208 sqft
    2019-04-01 58 days 2,202 sqft
    2019-05-01 57 days 2,214 sqft
    2019-06-01 58 days 2,201 sqft
    2019-07-01 63 days 2,203 sqft
    2019-08-01 68 days 2,210 sqft
    2019-09-01 74 days 2,203 sqft
    2019-10-01 78 days 2,196 sqft
    2019-11-01 75 days 2,146 sqft
    2019-12-01 83 days 2,135 sqft
    2020-01-01 92 days 2,152 sqft
    2020-02-01 87 days 2,160 sqft
    2020-03-01 65 days 2,183 sqft
    2020-04-01 66 days 2,152 sqft
    2020-05-01 71 days 2,177 sqft
    2020-06-01 78 days 2,208 sqft
    2020-07-01 70 days 2,217 sqft
    2020-08-01 64 days 2,200 sqft
    2020-09-01 67 days 2,191 sqft
    2020-10-01 68 days 2,165 sqft
    2020-11-01 69 days 2,106 sqft
    2020-12-01 67 days 2,142 sqft
    2021-01-01 74 days 2,131 sqft
    2021-02-01 74 days 2,171 sqft
    2021-03-01 49 days 2,113 sqft
    2021-04-01 46 days 2,161 sqft
    2021-05-01 42 days 2,097 sqft
    2021-06-01 39 days 2,081 sqft
    2021-07-01 39 days 2,121 sqft
    2021-08-01 40 days 2,146 sqft
    2021-09-01 43 days 2,131 sqft
    2021-10-01 45 days 2,133 sqft
    2021-11-01 51 days 2,160 sqft
    2021-12-01 59 days 2,070 sqft
    2022-01-01 64 days 2,115 sqft
    2022-02-01 44 days 2,062 sqft
    2022-03-01 33 days 1,968 sqft
    2022-04-01 32 days 2,042 sqft
    2022-05-01 33 days 2,067 sqft
    2022-06-01 34 days 2,093 sqft
    2022-07-01 37 days 2,132 sqft
    2022-08-01 45 days 2,194 sqft
    2022-09-01 51 days 2,234 sqft
    2022-10-01 54 days 2,213 sqft
    2022-11-01 60 days 2,224 sqft
    2022-12-01 70 days 2,205 sqft
    2023-01-01 78 days 2,200 sqft
    2023-02-01 72 days 2,217 sqft
    2023-03-01 52 days 2,251 sqft
    2023-04-01 46 days 2,243 sqft
    2023-05-01 43 days 2,248 sqft
    2023-06-01 47 days 2,227 sqft
    2023-07-01 45 days 2,184 sqft
    2023-08-01 44 days 2,106 sqft
    2023-09-01 46 days 2,059 sqft
    2023-10-01 49 days 2,045 sqft
    2023-11-01 51 days 1,962 sqft
    2023-12-01 58 days 1,946 sqft
    2024-01-01 73 days 1,980 sqft
    2024-02-01 65 days 2,007 sqft
    2024-03-01 53 days 1,998 sqft
    Wilmington's median listing age (time on market) for 2024-03-01 was 53 days. This is 3% longer than the same period one year ago.

    Wilmington's median square footage for active listings during the 2024-03-01 period was 1,998 sqft. One year prior, the average listing was 2,251 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.