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 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 6.53% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.35% and one month ago for the week of 2024-04-19, the average rate was 6.72%.

The average rate one year ago was 6.19%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.81%.

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
2024-04-01 $554,450 (0.8%) $775,968 (-0.8%) 1.29 1,045
Wilmington's median listing price for 2024-04-01 was $554,450, a difference of $4,550 (0.8%) versus the prior year and $14,450 versus the prior month.

Wilmington's median listing price comes in at 129% of the national average.

Wilmington's average listing price for 2024-04-01 was $775,968, a difference of $-6,594 (-0.8%) versus the prior year and $19,185 versus the prior month.

For the 2024-04-01 period, Wilmington had 1,045 MLS listings, a difference of 58 listings (6%) versus the prior month and 379 listings (57%) 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 2,006 sqft
2024-03-01 53 days 1,998 sqft
2024-04-01 49 days 2,000 sqft
Wilmington's median listing age (time on market) for 2024-04-01 was 49 days. This is 8% longer than the same period one year ago.

Wilmington's median square footage for active listings during the 2024-04-01 period was 2,000 sqft. One year prior, the average listing was 2,243 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.