Wilmington VA Loan Rates, Closing Costs & Stats

Wilmington, OH

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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 24 lenders originated 53 VA loans during 2023. The total origination value was $13,645,000, with an average VA loan value of $257,453.

    Wilmington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wilmington averaged 6.89% 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 $5,417.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.99%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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 11 6.68% $7,298
    LOANDEPOT.COM, LLC 8 6.48% $8,505
    NAVY FEDERAL CREDIT UNION 4 5.97% $5,805
    QUICKEN LOANS, LLC 3 6.32% $11,342
    CROSSCOUNTRY MORTGAGE, LLC 3 7.17% $11,050
    DAS Acquisition Company, LLC 2 6.81% $6,242
    USAA Federal Savings Bank 2 6.13% $7,376
    FREEDOM MORTGAGE CORPORATION 2 6.75% $14,832
    NEW DAY FINANCIAL, LLC 1 8.25% $4,446
    NEWREZ LLC 1 7.38% $10,992
    NFM, INC. 1 6.63% $10,510
    NORTHERN MORTGAGE SERVICES, LLC 1 5.75% $3,797
    PLANET HOME LENDING, LLC 1 6.63% $3,860
    The Federal Savings Bank 1 7.50% $5,197
    UNITED WHOLESALE MORTGAGE, LLC 1 5.87% $8,689
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $17,857
    WRIGHT-PATT CREDIT UNION, INC. 1 6.63% $625
    Fifth Third Bank 1 6.13% $2,642
    Gateway First Bank 1 5.75% $7,890
    GUARANTEED RATE, INC. 1 5.75% $1,950
    GUILD MORTGAGE COMPANY 1 7.63% $6,734
    LIBERTY HOME MORTGAGE CORPORATION 1 7.00% $5,150
    Meridian Bank Corporation 1 6.50% $8,381
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $2,127

    The top Wilmington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $7,298, which is $1,207 lower than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Wilmington VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,298), .

    The lowest rate Wilmington VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.68%), .

    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 $127,050 (10.7%) $172,297 (-10.1%) 0.00 102
    2018-02-01 $129,700 (3.8%) $181,121 (-12.9%) 0.00 99
    2018-03-01 $129,000 (7.5%) $189,042 (-9.8%) 0.00 91
    2018-04-01 $142,200 (9.6%) $197,528 (-5.5%) 0.00 93
    2018-05-01 $132,425 (1.9%) $198,063 (-3.4%) 0.00 89
    2018-06-01 $149,500 (12.5%) $208,000 (2.4%) 0.00 107
    2018-07-01 $130,600 (-0.1%) $196,593 (-1.6%) 0.00 118
    2018-08-01 $129,363 (0.6%) $193,326 (-1.4%) 0.00 123
    2018-09-01 $129,900 (0.4%) $184,578 (-5.4%) 0.00 134
    2018-10-01 $137,000 (9.6%) $192,085 (-1.1%) 0.00 126
    2018-11-01 $139,350 (14.6%) $176,081 (-10.3%) 0.00 121
    2018-12-01 $139,000 (14.9%) $188,616 (-3.7%) 0.00 111
    2019-01-01 $139,200 (9.6%) $198,444 (15.2%) 0.00 91
    2019-02-01 $132,500 (2.2%) $187,784 (3.7%) 0.00 84
    2019-03-01 $126,464 (-2.0%) $195,739 (3.5%) 0.00 78
    2019-04-01 $134,589 (-5.4%) $209,746 (6.2%) 0.00 79
    2019-05-01 $138,700 (4.7%) $207,700 (4.9%) 0.00 86
    2019-06-01 $152,250 (1.8%) $191,607 (-7.9%) 0.00 92
    2019-07-01 $173,675 (33.0%) $203,607 (3.6%) 0.00 92
    2019-08-01 $170,677 (31.9%) $206,112 (6.6%) 0.00 102
    2019-09-01 $159,018 (22.4%) $202,605 (9.8%) 0.00 107
    2019-10-01 $155,645 (13.6%) $201,882 (5.1%) 0.00 110
    2019-11-01 $151,083 (8.4%) $191,509 (8.8%) 0.00 101
    2019-12-01 $139,900 (0.7%) $179,802 (-4.7%) 0.00 93
    2020-01-01 $139,900 (0.5%) $176,214 (-11.2%) 0.00 86
    2020-02-01 $132,450 (0.0%) $169,046 (-10.0%) 0.00 69
    2020-03-01 $139,900 (10.6%) $194,652 (-0.6%) 0.00 67
    2020-04-01 $182,875 (35.9%) $205,561 (-2.0%) 0.00 63
    2020-05-01 $179,900 (29.7%) $208,094 (0.2%) 0.00 50
    2020-06-01 $222,375 (46.1%) $300,435 (56.8%) 0.00 43
    2020-07-01 $250,200 (44.1%) $330,484 (62.3%) 0.00 34
    2020-08-01 $205,000 (20.1%) $288,890 (40.2%) 0.00 41
    2020-09-01 $181,350 (14.0%) $263,680 (30.1%) 0.00 42
    2020-10-01 $175,000 (12.4%) $256,306 (27.0%) 0.00 44
    2020-11-01 $179,500 (18.8%) $273,251 (42.7%) 0.00 38
    2020-12-01 $179,500 (28.3%) $278,542 (54.9%) 0.00 37
    2021-01-01 $193,750 (38.5%) $313,758 (78.1%) 0.00 24
    2021-02-01 $225,000 (69.9%) $367,302 (117.3%) 0.00 22
    2021-03-01 $135,625 (-3.1%) $318,185 (63.5%) 0.00 25
    2021-04-01 $160,925 (-12.0%) $343,929 (67.3%) 0.00 28
    2021-05-01 $174,450 (-3.0%) $247,797 (19.1%) 0.00 31
    2021-06-01 $164,950 (-25.8%) $240,281 (-20.0%) 0.00 26
    2021-07-01 $174,900 (-30.1%) $226,528 (-31.5%) 0.00 42
    2021-08-01 $176,050 (-14.1%) $200,368 (-30.6%) 0.00 49
    2021-09-01 $192,450 (6.1%) $223,318 (-15.3%) 0.00 58
    2021-10-01 $182,450 (4.3%) $213,653 (-16.6%) 0.00 61
    2021-11-01 $188,625 (5.1%) $210,940 (-22.8%) 0.00 51
    2021-12-01 $208,550 (16.2%) $235,052 (-15.6%) 0.00 37
    2022-01-01 $200,000 (3.2%) $232,389 (-25.9%) 0.00 30
    2022-02-01 $209,750 (-6.8%) $263,152 (-28.4%) 0.00 31
    2022-03-01 $185,000 (36.4%) $263,585 (-17.2%) 0.00 37
    2022-04-01 $207,250 (28.8%) $270,236 (-21.4%) 0.00 39
    2022-05-01 $233,425 (33.8%) $311,765 (25.8%) 0.00 43
    2022-06-01 $202,125 (22.5%) $276,826 (15.2%) 0.00 53
    2022-07-01 $215,450 (23.2%) $275,756 (21.7%) 0.00 71
    2022-08-01 $215,675 (22.5%) $267,745 (33.6%) 0.00 68
    2022-09-01 $222,650 (15.7%) $260,471 (16.6%) 0.00 62
    2022-10-01 $249,800 (36.9%) $266,851 (24.9%) 0.00 62
    2022-11-01 $238,625 (26.5%) $256,489 (21.6%) 0.00 65
    2022-12-01 $216,500 (3.8%) $250,082 (6.4%) 0.00 68
    2023-01-01 $236,750 (18.4%) $251,991 (8.4%) 0.00 52
    2023-02-01 $247,450 (18.0%) $262,333 (-0.3%) 0.00 52
    2023-03-01 $263,325 (42.3%) $261,944 (-0.6%) 0.00 43
    2023-04-01 $195,000 (-5.9%) $245,123 (-9.3%) 0.00 48
    2023-05-01 $197,475 (-15.4%) $241,632 (-22.5%) 0.00 38
    2023-06-01 $242,475 (20.0%) $303,019 (9.5%) 0.00 45
    2023-07-01 $264,950 (23.0%) $326,430 (18.4%) 0.00 51
    2023-08-01 $244,000 (13.1%) $284,361 (6.2%) 0.00 55
    2023-09-01 $240,000 (7.8%) $276,872 (6.3%) 0.00 63
    2023-10-01 $240,000 (-3.9%) $289,981 (8.7%) 0.00 71
    2023-11-01 $247,200 (3.6%) $302,093 (17.8%) 0.00 74
    2023-12-01 $239,500 (10.6%) $278,410 (11.3%) 0.00 69
    2024-01-01 $239,750 (1.3%) $288,384 (14.4%) 0.00 58
    2024-02-01 $262,100 (5.9%) $321,486 (22.6%) 0.00 46
    2024-03-01 $242,450 (-7.9%) $354,877 (35.5%) 0.00 43
    Wilmington's median listing price for 2024-03-01 was $242,450, a difference of $-20,875 (-7.9%) versus the prior year and $-19,650 versus the prior month.

    Wilmington's median listing price comes in at 0% of the national average.

    Wilmington's average listing price for 2024-03-01 was $354,877, a difference of $92,933 (35.5%) versus the prior year and $33,391 versus the prior month.

    For the 2024-03-01 period, Wilmington had 43 MLS listings, a difference of -3 listings (-7%) versus the prior month and 0 listings (0%) 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 0 days 1,725 sqft
    2018-02-01 0 days 1,729 sqft
    2018-03-01 0 days 1,792 sqft
    2018-04-01 0 days 1,845 sqft
    2018-05-01 0 days 1,812 sqft
    2018-06-01 0 days 1,796 sqft
    2018-07-01 0 days 1,714 sqft
    2018-08-01 0 days 1,668 sqft
    2018-09-01 0 days 1,642 sqft
    2018-10-01 0 days 1,658 sqft
    2018-11-01 0 days 1,671 sqft
    2018-12-01 0 days 1,680 sqft
    2019-01-01 0 days 1,708 sqft
    2019-02-01 0 days 1,672 sqft
    2019-03-01 0 days 1,587 sqft
    2019-04-01 0 days 1,560 sqft
    2019-05-01 0 days 1,724 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,794 sqft
    2019-08-01 0 days 1,766 sqft
    2019-09-01 0 days 1,714 sqft
    2019-10-01 0 days 1,674 sqft
    2019-11-01 0 days 1,610 sqft
    2019-12-01 0 days 1,469 sqft
    2020-01-01 0 days 1,483 sqft
    2020-02-01 0 days 1,458 sqft
    2020-03-01 0 days 1,648 sqft
    2020-04-01 0 days 1,686 sqft
    2020-05-01 0 days 1,728 sqft
    2020-06-01 0 days 1,879 sqft
    2020-07-01 0 days 2,143 sqft
    2020-08-01 0 days 1,887 sqft
    2020-09-01 0 days 1,603 sqft
    2020-10-01 0 days 1,461 sqft
    2020-11-01 0 days 1,443 sqft
    2020-12-01 0 days 1,457 sqft
    2021-01-01 0 days 1,460 sqft
    2021-02-01 0 days 1,647 sqft
    2021-03-01 0 days 1,455 sqft
    2021-04-01 0 days 1,442 sqft
    2021-05-01 0 days 1,528 sqft
    2021-06-01 0 days 1,516 sqft
    2021-07-01 0 days 1,660 sqft
    2021-08-01 0 days 1,513 sqft
    2021-09-01 0 days 1,578 sqft
    2021-10-01 0 days 1,629 sqft
    2021-11-01 0 days 1,782 sqft
    2021-12-01 0 days 1,650 sqft
    2022-01-01 0 days 1,608 sqft
    2022-02-01 0 days 1,910 sqft
    2022-03-01 0 days 1,396 sqft
    2022-04-01 0 days 1,568 sqft
    2022-05-01 0 days 1,798 sqft
    2022-06-01 0 days 1,703 sqft
    2022-07-01 0 days 1,630 sqft
    2022-08-01 0 days 1,550 sqft
    2022-09-01 0 days 1,665 sqft
    2022-10-01 0 days 1,722 sqft
    2022-11-01 0 days 1,779 sqft
    2022-12-01 0 days 1,580 sqft
    2023-01-01 0 days 1,660 sqft
    2023-02-01 0 days 1,711 sqft
    2023-03-01 0 days 1,534 sqft
    2023-04-01 0 days 1,512 sqft
    2023-05-01 0 days 1,603 sqft
    2023-06-01 0 days 1,746 sqft
    2023-07-01 0 days 1,729 sqft
    2023-08-01 0 days 1,598 sqft
    2023-09-01 0 days 1,586 sqft
    2023-10-01 0 days 1,681 sqft
    2023-11-01 0 days 1,683 sqft
    2023-12-01 0 days 1,600 sqft
    2024-01-01 0 days 1,533 sqft
    2024-02-01 0 days 1,642 sqft
    2024-03-01 0 days 1,709 sqft
    Wilmington's median listing age (time on market) for 2024-03-01 was 0 days.

    Wilmington's median square footage for active listings during the 2024-03-01 period was 1,709 sqft. One year prior, the average listing was 1,534 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.