Wilmington VA Loans

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 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 141 lenders originated 2,027 VA loans during 2021. The total origination value was $631,335,000, with an average VA loan value of $311,463.

Wilmington VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Wilmington averaged 5.49% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.32% and one month ago for the week of 2022-04-08, the average rate was 5.14%.

The average rate one year ago was 3.05%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Wilmington level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GUARANTEED RATE, INC. 140 2.53% $7,805
FREEDOM MORTGAGE CORPORATION 137 2.44% $2,804
Mortgage Research Center, LLC 119 2.81% $6,203
QUICKEN LOANS, LLC 105 2.43% $4,494
PENNYMAC LOAN SERVICES, LLC 80 2.30% $4,995
NAVY FEDERAL CREDIT UNION 75 2.45% $5,767
ANGEL OAK HOME LOANS LLC 58 2.73% $5,353
NEW DAY FINANCIAL, LLC 49 2.79% $7,661
USAA Federal Savings Bank 47 2.84% $5,705
Alpha Mortgage Corporation 45 3.05% $8,365
CALIBER HOME LOANS, INC. 45 2.49% $4,712
MOVEMENT MORTGAGE, LLC 44 2.85% $6,331
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 39 2.88% $6,329
HOME POINT FINANCIAL CORPORATION 38 2.43% $6,316
LOANDEPOT.COM, LLC 38 2.68% $6,126
VILLAGE CAPITAL & INVESTMENT LLC 37 2.28% $3,452
UNITED WHOLESALE MORTGAGE, LLC 36 2.42% $5,418
DHI MORTGAGE COMPANY, LTD. 34 2.62% $8,448
UNION HOME MORTGAGE CORP. 31 2.48% $5,651
Wells Fargo Bank 27 2.54% $5,418
LAKEVIEW LOAN SERVICING, LLC 26 2.55% $2,307
The Federal Savings Bank 23 2.44% $9,594
CLEARPATH LENDING 18 2.46% $3,393
INTERCOASTAL MORTGAGE COMPANY 17 2.82% $10,265
NEWREZ LLC 16 2.59% $3,825
HOMESIDE FINANCIAL, LLC 16 2.73% $5,070
Mr. Cooper ( Nationstar Mortgage ) 16 2.82% $4,792
Towne Bank 14 2.54% $7,004
ON Q FINANCIAL, INC. 14 2.39% $4,638
RESIDENTIAL MORTGAGE SERVICES, INC. 14 2.63% $9,534
VANDERBILT MORTGAGE AND FINANCE, INC. 14 2.65% $5,648
Carrington Mortgage Services, LLC 14 2.69% $4,072
Low VA Rates, LLC 13 2.50% $4,466
Blue Ridge Bank 13 2.71% $9,131
SeaTrust Mortgage Company 13 2.87% $11,029
CROSSCOUNTRY MORTGAGE, LLC 12 2.95% $8,406
RESOURCE FINANCIAL SERVICES, INC. 11 2.58% $4,432
CORNERSTONE HOME LENDING, INC. 10 2.85% $8,527
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 2.83% $10,152
SUN WEST MORTGAGE COMPANY, INC. 10 2.38% $3,249
AMERICAN FINANCIAL NETWORK, INC. 9 2.79% $9,896
PLAZA HOME MORTGAGE, INC. 9 2.25% $2,009
THE MORTGAGE FIRM, INC. 9 3.07% $6,090
AMERISAVE MORTGAGE CORPORATION 8 2.48% $5,190
PENTAGON FEDERAL CREDIT UNION 8 2.33% $4,536
North State Bank 8 2.69% $5,644
Barrington Bank & Trust Company, N.A. 8 2.69% $9,473
PLANET HOME LENDING, LLC 7 2.70% $3,738
First Guaranty Mortgage Corporation 7 2.41% $3,249
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 2.61% $5,934
PULTE MORTGAGE LLC 7 2.82% $4,279
Gateway First Bank 7 2.82% $3,600
InterContinental Capital Group, Inc 7 2.48% $5,755
ACCELERATE MORTGAGE, LLC 6 2.17% $7,624
American Security Mortgage Corp. 6 2.38% $2,715
NBKC BANK 6 2.75% $7,505
MUTUAL OF OMAHA MORTGAGE, INC. 5 2.45% $3,914
Magnolia Bank 5 2.55% $4,617
NP, Inc. 5 2.48% $4,466
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 3.08% $5,783
EQUITY RESOURCES, INC. 5 2.98% $7,486
BROKER SOLUTIONS, INC. 5 2.78% $4,568
Wyndham Capital Mortgage, Inc. 4 2.50% $3,406
First Bank 4 2.34% $6,013
Lakeview Community Capital, LLC 4 2.47% $1,313
SOVEREIGN LENDING GROUP INCORPORATED 4 2.62% $14,623
First Federal Bank 3 3.46% $12,735
CMG MORTGAGE, INC. 3 2.25% $7,300
North American Savings Bank, F.S.B. 3 2.25% $2,062
Flagstar Bank, FSB 3 2.64% $9,255
U.S. Bank 3 2.46% $2,325
AmeriHome Mortgage Company, LLC 3 2.91% $2,385
GoPrime Mortgage, Inc. 3 2.50% $5,071
AMERICAN FINANCING CORPORATION 3 2.58% $1,366
TJC Mortgage, Inc. 3 2.13% $4,579
RAPID MORTGAGE COMPANY 3 3.13% $4,639
JET DIRECT FUNDING CORP 3 2.33% $3,361
BAYSHORE MORTGAGE FUNDING, LLC 2 2.56% $2,272
Truist Bank 2 2.63% $2,994
Renasant Bank 2 2.56% $2,628
CALCON MUTUAL MORTGAGE LLC 2 3.50% $10,130
West Town Bank & Trust 2 3.44% $3,300
HOMESTEAD FUNDING CORP. 2 2.94% $7,014
LADERA LENDING, INC. 2 2.81% $3,335
Nations Lending Corporation 2 2.75% $7,940
Citizens Bank 2 2.25% $3,824
KS StateBank 2 2.31% $29,884
Strong Home Mortgage, LLC 2 2.50% $6,769
Mid-Continent Funding, Inc. 2 2.56% $5,872
MORTGAGEONE, INC. 2 2.75% $2,294
First-Citizens Bank & Trust Company 2 2.69% $4,803
CHURCHILL MORTGAGE CORPORATION 2 2.31% $8,801
NFM, INC. 2 2.75% $2,372
BNC National Bank 2 2.25% $3,459
SIRVA MORTGAGE, INC. 1 2.38% $2,729
Southern Bank and Trust Company 1 2.50% $620
SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $3,947
South State Bank 1 2.25% $2,854
ALLIED MORTGAGE GROUP, INC. 1 3.00% $4,008
STEARNS LENDING, LLC 1 2.25% $2,385
Stifel Bank and Trust 1 2.25% $11,234
Sunflower Bank 1 2.99% $36,678
BOKF 1 3.13% $3,536
SWBC MORTGAGE CORPORATION 1 3.63% $525
T2 FINANCIAL LLC 1 2.75% $10,999
Texana Bank 1 2.38% $8,787
The Central Trust Bank 1 3.25% $11,099
Bank of England 1 2.75% $3,636
Aurora Financial, LLC 1 2.75% $17,333
Atlantic Coast Mortgage, LLC 1 2.88% $2,105
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $3,862
AMERIFIRST FINANCIAL CORPORATION 1 3.25% $30,427
Home Loan Investment Bank, F.S.B. 1 2.25% $5,012
Integrity Home Mortgage Corp 1 3.25% $19,422
GUILD MORTGAGE COMPANY 1 2.88% $19,476
Ixonia Bank 1 2.25% $3,374
KELLER MORTGAGE, LLC 1 2.88% $17,551
Wilmington Savings Fund Society, FSB 1 3.00% $10,530
GUARANTEED RATE AFFINITY, LLC 1 2.75% $9,049
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $4,892
GSF Mortgage Corporation 1 3.75% $7,163
Florida Capital Bank 1 2.63% $6,662
First Savings Bank 1 3.75% $14,172
First Mortgage Solutions, LLC 1 2.00% $4,061
FIRST HOME MORTGAGE CORPORATION 1 2.88% $5,173
First Home Bank 1 2.25% $6,169
NBH Bank 1 2.38% $908
First Heritage Mortgage, LLC 1 2.88% $12,005
Northpointe Bank 1 2.75% $3,349
FINANCE OF AMERICA MORTGAGE LLC 1 2.25% $0
Fidelity Bank 1 3.63% $12,183
DATA MORTGAGE, INC. 1 3.00% $20,016
CONTOUR MORTGAGE CORPORATION 1 2.38% $4,633
CIS Financial Services, Inc. 1 2.88% $2,966
PNC Bank 1 3.00% $1,681
POLARIS HOME FUNDING CORP. 1 2.25% $4,108
PREMIA MORTGAGE, LLC 1 2.25% $0
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.63% $2,901
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $1,894
Capital City Home Loans, LLC 1 2.25% $3,654
Capital Bank 1 2.38% $7,593

The top Wilmington VA lender as defined by loan originations is GUARANTEED RATE, INC., with 140 VA loans originated. Their average total fees are $7,805, which is $5,002 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Wilmington VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,307), FREEDOM MORTGAGE CORPORATION ($2,804), SUN WEST MORTGAGE COMPANY, INC. ($3,249), CLEARPATH LENDING ($3,393) and VILLAGE CAPITAL & INVESTMENT LLC ($3,452).

The lowest rate Wilmington VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.28%), PENNYMAC LOAN SERVICES, LLC (2.30%), SUN WEST MORTGAGE COMPANY, INC. (2.38%), ON Q FINANCIAL, INC. (2.39%) and UNITED WHOLESALE MORTGAGE, LLC (2.42%).


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 $326,718 (2.2%) $484,727 (4.6%) 1.20 1,679
2018-02-01 $328,450 (1.7%) $480,512 (1.6%) 1.18 1,674
2018-03-01 $329,900 (1.9%) $477,506 (-0.4%) 1.14 1,724
2018-04-01 $329,950 (-0.6%) $481,672 (-1.6%) 1.11 1,749
2018-05-01 $330,700 (-1.6%) $486,139 (-2.6%) 1.10 1,771
2018-06-01 $329,900 (-1.2%) $480,261 (-1.7%) 1.10 1,868
2018-07-01 $327,950 (-0.6%) $481,339 (-1.9%) 1.09 1,981
2018-08-01 $325,000 (-1.4%) $476,985 (-2.4%) 1.09 1,982
2018-09-01 $334,000 (1.5%) $487,192 (1.3%) 1.12 1,981
2018-10-01 $339,000 (4.5%) $488,568 (3.0%) 1.13 1,656
2018-11-01 $343,338 (5.6%) $485,000 (1.7%) 1.15 1,577
2018-12-01 $339,209 (4.4%) $484,714 (2.1%) 1.16 1,531
2019-01-01 $342,963 (5.0%) $490,947 (1.3%) 1.18 1,408
2019-02-01 $342,238 (4.2%) $493,501 (2.7%) 1.15 1,390
2019-03-01 $353,857 (7.3%) $501,332 (5.0%) 1.15 1,416
2019-04-01 $358,357 (8.6%) $510,320 (6.0%) 1.13 1,475
2019-05-01 $363,188 (9.8%) $531,342 (9.3%) 1.12 1,511
2019-06-01 $354,000 (7.3%) $522,433 (8.8%) 1.09 1,581
2019-07-01 $359,900 (9.7%) $530,357 (10.2%) 1.12 1,600
2019-08-01 $363,800 (11.9%) $538,396 (12.9%) 1.14 1,609
2019-09-01 $366,300 (9.7%) $541,849 (11.2%) 1.16 1,593
2019-10-01 $361,250 (6.6%) $530,860 (8.7%) 1.15 1,620
2019-11-01 $350,000 (1.9%) $521,594 (7.6%) 1.13 1,624
2019-12-01 $352,400 (3.9%) $521,068 (7.5%) 1.17 1,537
2020-01-01 $357,953 (4.4%) $527,415 (7.4%) 1.19 1,458
2020-02-01 $359,000 (4.9%) $531,660 (7.7%) 1.16 1,435
2020-03-01 $374,208 (5.8%) $558,840 (11.5%) 1.17 1,493
2020-04-01 $367,051 (2.4%) $550,342 (7.8%) 1.14 1,578
2020-05-01 $369,900 (1.9%) $557,350 (4.9%) 1.12 1,544
2020-06-01 $371,813 (5.0%) $563,958 (8.0%) 1.09 1,338
2020-07-01 $369,534 (2.7%) $573,231 (8.1%) 1.06 1,218
2020-08-01 $374,300 (2.9%) $582,297 (8.2%) 1.07 1,157
2020-09-01 $384,446 (5.0%) $595,527 (9.9%) 1.10 1,086
2020-10-01 $389,000 (7.7%) $615,436 (15.9%) 1.11 1,025
2020-11-01 $382,500 (9.3%) $622,755 (19.4%) 1.10 1,009
2020-12-01 $381,734 (8.3%) $624,287 (19.8%) 1.12 948
2021-01-01 $379,900 (6.1%) $639,233 (21.2%) 1.12 794
2021-02-01 $396,950 (10.6%) $707,779 (33.1%) 1.14 570
2021-03-01 $395,333 (5.7%) $689,116 (23.3%) 1.11 487
2021-04-01 $411,394 (12.1%) $680,493 (23.7%) 1.11 477
2021-05-01 $409,900 (10.8%) $700,698 (25.7%) 1.08 464
2021-06-01 $419,500 (12.8%) $700,456 (24.2%) 1.09 511
2021-07-01 $444,500 (20.3%) $701,392 (22.4%) 1.15 530
2021-08-01 $434,500 (16.1%) $664,594 (14.1%) 1.14 576
2021-09-01 $439,950 (14.4%) $649,726 (9.1%) 1.16 582
2021-10-01 $453,172 (16.5%) $654,156 (6.3%) 1.19 571
2021-11-01 $474,950 (24.2%) $694,722 (11.6%) 1.25 495
2021-12-01 $465,424 (21.9%) $670,951 (7.5%) 1.24 434
2022-01-01 $475,000 (25.0%) $695,454 (8.8%) 1.27 344
2022-02-01 $454,488 (14.5%) $697,437 (-1.5%) 1.16 302
2022-03-01 $454,900 (15.1%) $742,604 (7.8%) 1.12 300
2022-04-01 $489,325 (18.9%) $744,058 (9.3%) 1.15 316
Wilmington's median listing price for 2022-04-01 was $489,325, a difference of $77,931 (18.9%) versus the prior year and $34,425 versus the prior month.

Wilmington's median listing price comes in at 115% of the national average.

Wilmington's average listing price for 2022-04-01 was $744,058, a difference of $63,565 (9.3%) versus the prior year and $1,454 versus the prior month.

For the 2022-04-01 period, Wilmington had 316 MLS listings, a difference of 16 listings (5%) versus the prior month and -161 listings (-34%) 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
2018-01-01 113 days 2,202 sqft
2018-02-01 112 days 2,220 sqft
2018-03-01 92 days 2,190 sqft
2018-04-01 71 days 2,200 sqft
2018-05-01 71 days 2,201 sqft
2018-06-01 70 days 2,202 sqft
2018-07-01 71 days 2,206 sqft
2018-08-01 73 days 2,155 sqft
2018-09-01 85 days 2,185 sqft
2018-10-01 108 days 2,191 sqft
2018-11-01 112 days 2,233 sqft
2018-12-01 114 days 2,206 sqft
2019-01-01 115 days 2,236 sqft
2019-02-01 102 days 2,223 sqft
2019-03-01 88 days 2,243 sqft
2019-04-01 64 days 2,241 sqft
2019-05-01 62 days 2,257 sqft
2019-06-01 64 days 2,241 sqft
2019-07-01 66 days 2,241 sqft
2019-08-01 69 days 2,259 sqft
2019-09-01 79 days 2,259 sqft
2019-10-01 82 days 2,219 sqft
2019-11-01 79 days 2,183 sqft
2019-12-01 86 days 2,182 sqft
2020-01-01 92 days 2,206 sqft
2020-02-01 88 days 2,211 sqft
2020-03-01 66 days 2,240 sqft
2020-04-01 65 days 2,198 sqft
2020-05-01 73 days 2,221 sqft
2020-06-01 80 days 2,246 sqft
2020-07-01 72 days 2,255 sqft
2020-08-01 64 days 2,239 sqft
2020-09-01 60 days 2,283 sqft
2020-10-01 58 days 2,283 sqft
2020-11-01 57 days 2,235 sqft
2020-12-01 63 days 2,238 sqft
2021-01-01 74 days 2,223 sqft
2021-02-01 75 days 2,262 sqft
2021-03-01 48 days 2,170 sqft
2021-04-01 45 days 2,171 sqft
2021-05-01 42 days 2,120 sqft
2021-06-01 40 days 2,121 sqft
2021-07-01 41 days 2,163 sqft
2021-08-01 39 days 2,168 sqft
2021-09-01 43 days 2,149 sqft
2021-10-01 45 days 2,141 sqft
2021-11-01 52 days 2,172 sqft
2021-12-01 57 days 2,084 sqft
2022-01-01 63 days 2,147 sqft
2022-02-01 46 days 2,054 sqft
2022-03-01 35 days 1,952 sqft
2022-04-01 34 days 2,042 sqft
Wilmington's median listing age (time on market) for 2022-04-01 was 34 days. This is -24% shorter than the same period one year ago.

Wilmington's median square footage for active listings during the 2022-04-01 period was 2,042 sqft. One year prior, the average listing was 2,171 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.