Wilmington VA Loans

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 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.