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Wilmington

Current Mortgage Rates in Wilmington, North Carolina

Compare mortgage rates and fees for leading lenders in Wilmington, NC. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Wilmington.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Wilmington. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Wilmington, NC as of September 21, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Wilmington, NC Mortgage Rates Compare?

September 21, 2020

The current average rate for a 30 year fixed rate mortgage in Wilmington is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Wilmington, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Wilmington, North Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Wilmington. Understand how much you need to earn to afford a home in Wilmington, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Wilmington fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Wilmington is right for you.

The median home value for Wilmington, NC (New Hanover County) is $287,283

Based on current mortgage rates and a 10% down payment, you need to make $51,703 per year to buy the median priced home in Wilmington

With this income, you could qualify for a $258,554 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Wilmington is $1,197

The median household income for Wilmington, NC (New Hanover County) is $54,269

Based on this income, you can afford a home valued at approximately $301,536

The home price you can afford to buy based on household income in Wilmington is 105% of the median home value which means housing prices are average. Wilmington (New Hanover County) ranks 97 out of 100 counties in North Carolina and 2,961 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Wilmington, NC is average

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Loan Limits for Wilmington, North Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Wilmington (New Hanover County) below.

Conforming loan limits for Wilmington, NC

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Wilmington, NC

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Wilmington, NC

1 unit: $510,400

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