Salem VA Loan Rates, Closing Costs & Stats

SALEM, OR

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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.

    Salem's 85 lenders originated 581 VA loans during 2024. The total origination value was $253,385,000, with an average VA loan value of $436,119.

    Salem VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Salem averaged 6.84% for the week of 2025-07-11, compared to the national average (all VA variants) of 6.37% for the same period.

    Salem's average VA mortgage closing costs are $7,718.

    The average rate for the prior week (2025-07-04) was 6.55% and one month ago for the week of 2025-06-06, the average rate was 6.62%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.34%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Salem 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 Salem level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 66 5.80% $10,081
    Mortgage Research Center, LLC 61 6.36% $6,617
    NEWREZ LLC 33 6.22% $9,495
    GUILD MORTGAGE COMPANY 29 6.05% $12,683
    FREEDOM MORTGAGE CORPORATION 28 5.97% $13,858
    QUICKEN LOANS, LLC 25 5.95% $16,486
    NATIONS DIRECT MORTGAGE, LLC 25 6.25% $10,710
    S1L, Inc. 20 6.17% $9,253
    NAVY FEDERAL CREDIT UNION 16 5.96% $5,239
    DHI MORTGAGE COMPANY, LTD. 16 5.26% $5,509
    VILLAGE CAPITAL MORTGAGE 12 5.61% $7,319
    USAA Federal Savings Bank 12 6.18% $9,442
    CMG MORTGAGE, INC. 11 5.92% $10,743
    EAGLE HOME MORTGAGE, LLC 9 6.01% $9,290
    LOANDEPOT.COM, LLC 9 6.27% $17,074
    PENNYMAC LOAN SERVICES, LLC 8 5.78% $8,717
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.41% $9,605
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.39% $8,161
    GUARANTEED RATE, INC. 6 6.23% $3,208
    Sierra Pacific Mortgage Company, Inc. 6 6.29% $18,257
    The Federal Savings Bank 6 6.04% $25,437
    PLAZA HOME MORTGAGE, INC. 5 5.83% $13,090
    PACIFIC RESIDENTIAL MORTGAGE, LLC 5 6.78% $17,635
    PANORAMA MORTGAGE GROUP, LLC 5 6.25% $14,579
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.13% $16,346
    CROSSCOUNTRY MORTGAGE, LLC 5 6.31% $4,424
    Century Mortgage Company DBA Century Lending Company 5 6.15% $4,647
    Umpqua Bank 5 6.40% $8,158
    Willamette Valley Bank 4 5.84% $6,725
    Magnolia Bank 4 6.28% $18,413
    MOVEMENT MORTGAGE, LLC 4 6.69% $12,615
    BAY EQUITY LLC 4 6.13% $9,326
    DAS Acquisition Company, LLC 3 6.12% $9,523
    AMERICAN FINANCIAL RESOURCES, INC. 3 5.92% $12,287
    CANOPY MORTGAGE, LLC 3 6.70% $23,642
    AMERICAN FINANCIAL NETWORK, INC. 3 6.21% $6,591
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.63% $7,355
    MORTGAGEONE, INC. 3 5.88% $9,555
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.42% $6,271
    PLANET HOME LENDING, LLC 3 4.79% $4,628
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.46% $16,932
    SUN WEST MORTGAGE COMPANY, INC. 3 6.07% $7,800
    UNION HOME MORTGAGE CORP. 3 6.96% $15,583
    DIRECTORS MORTGAGE, INC. 2 6.75% $12,999
    NBKC BANK 2 5.75% $18,303
    Carrington Mortgage Services, LLC 2 5.75% $30,161
    Equity Prime Mortgage LLC 2 7.00% $8,837
    MORTGAGE EXPRESS, LLC 2 6.62% $12,571
    Sunflower Bank 2 6.62% $7,392
    PENTAGON FEDERAL CREDIT UNION 2 5.56% $8,820
    LPMC, LLC 2 6.38% $18,005
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.37% $5,135
    Barrington Bank & Trust Company, N.A. 2 5.75% $8,107
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $8,009
    Credence Funding Corporation 1 5.25% $11,338
    CLEARPATH LENDING 1 5.75% $24,221
    PHH Mortgage Corporation 1 5.25% $5,313
    Plains Commerce Bank 1 5.99% $16,512
    VERITAS FUNDING, LLC 1 6.25% $20,776
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $10,361
    Prosperity Home Mortgage, LLC 1 6.63% $8,887
    CASTLE & COOKE MORTGAGE, LLC 1 6.13% $5,895
    CARDINAL FINANCIAL 1 6.25% $19,239
    Strong Home Mortgage, LLC 1 6.13% $5,370
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $8,785
    SUMMIT FUNDING, INC. 1 5.63% $26,866
    Summit Mortgage Corporation 1 6.25% $20,500
    SUMMIT MORTGAGE CORPORATION 1 6.25% $2,017
    AMERICAN FINANCING CORPORATION 1 5.75% $11,966
    CALCON MUTUAL MORTGAGE LLC 1 4.88% $12,703
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.13% $7,958
    ZILLOW HOME LOANS, LLC 1 6.13% $7,020
    KeyBank 1 6.38% $5,693
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $2,391
    HomeStreet Bank 1 6.13% $7,292
    Lakeview Community Capital, LLC 1 5.25% $2,649
    AXIA FINANCIAL, LLC 1 5.75% $19,498
    GoPrime Mortgage, Inc. 1 6.13% $11,402
    U.S. Bank 1 6.75% $7,468
    Flagstar Bank, FSB 1 5.00% $9,379
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $4,911
    First Federal Bank 1 6.00% $8,173
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.75% $5,839
    ENVOY MORTGAGE, LTD 1 6.13% $7,673
    North American Savings Bank, F.S.B. 1 5.50% $1,821

    The top Salem VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 66 VA loans originated. Their average total fees are $10,081, which is $3,464 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Salem VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,239), DHI MORTGAGE COMPANY, LTD. ($5,509), Mortgage Research Center, LLC ($6,617), VILLAGE CAPITAL MORTGAGE ($7,319) and S1L, Inc. ($9,253).

    The lowest rate Salem VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.26%), VILLAGE CAPITAL MORTGAGE (5.61%), UNITED WHOLESALE MORTGAGE, LLC (5.80%), CMG MORTGAGE, INC. (5.92%) and QUICKEN LOANS, LLC (5.95%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Salem (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 $377,425 (36.6%) $492,987 (36.0%) 1.40 714
    2018-02-01 $377,450 (34.3%) $486,422 (32.0%) 1.37 712
    2018-03-01 $374,900 (32.3%) $478,838 (28.6%) 1.32 740
    2018-04-01 $384,175 (30.2%) $499,384 (29.3%) 1.30 763
    2018-05-01 $389,450 (31.4%) $496,079 (28.1%) 1.30 857
    2018-06-01 $385,900 (29.9%) $488,871 (29.4%) 1.29 924
    2018-07-01 $394,700 (12.3%) $487,251 (10.4%) 1.32 978
    2018-08-01 $375,450 (5.3%) $461,644 (2.1%) 1.26 1,168
    2018-09-01 $369,900 (5.7%) $450,427 (0.5%) 1.24 1,235
    2018-10-01 $367,450 (0.0%) $448,628 (-2.7%) 1.24 1,236
    2018-11-01 $362,200 (-2.1%) $438,794 (-6.5%) 1.23 1,223
    2018-12-01 $364,900 (-3.1%) $443,344 (-9.0%) 1.26 1,131
    2019-01-01 $367,950 (-2.5%) $440,939 (-10.6%) 1.27 1,066
    2019-02-01 $362,550 (-4.0%) $423,348 (-13.0%) 1.22 1,026
    2019-03-01 $364,371 (-2.8%) $423,742 (-11.5%) 1.19 1,036
    2019-04-01 $365,000 (-5.0%) $426,010 (-14.7%) 1.16 1,063
    2019-05-01 $364,950 (-6.3%) $429,362 (-13.5%) 1.14 1,140
    2019-06-01 $364,998 (-5.4%) $428,208 (-12.4%) 1.14 1,253
    2019-07-01 $369,900 (-6.3%) $429,676 (-11.8%) 1.16 1,317
    2019-08-01 $373,609 (-0.5%) $434,696 (-5.8%) 1.18 1,298
    2019-09-01 $371,523 (0.4%) $443,452 (-1.6%) 1.19 1,287
    2019-10-01 $372,682 (1.4%) $453,756 (1.1%) 1.20 1,252
    2019-11-01 $380,000 (4.9%) $462,200 (5.3%) 1.25 1,125
    2019-12-01 $380,000 (4.1%) $467,481 (5.4%) 1.27 978
    2020-01-01 $387,475 (5.3%) $474,112 (7.5%) 1.29 852
    2020-02-01 $389,900 (7.5%) $480,831 (13.6%) 1.28 794
    2020-03-01 $404,975 (11.1%) $501,706 (18.4%) 1.27 770
    2020-04-01 $399,450 (9.4%) $481,605 (13.1%) 1.25 833
    2020-05-01 $414,900 (13.7%) $503,742 (17.3%) 1.26 767
    2020-06-01 $423,925 (16.1%) $516,805 (20.7%) 1.25 668
    2020-07-01 $429,450 (16.1%) $532,956 (24.0%) 1.24 632
    2020-08-01 $425,000 (13.8%) $540,325 (24.3%) 1.22 578
    2020-09-01 $438,075 (17.9%) $553,802 (24.9%) 1.26 496
    2020-10-01 $419,999 (12.7%) $542,943 (19.7%) 1.20 498
    2020-11-01 $429,900 (13.1%) $559,831 (21.1%) 1.26 418
    2020-12-01 $424,500 (11.7%) $568,387 (21.6%) 1.26 344
    2021-01-01 $444,500 (14.7%) $608,697 (28.4%) 1.33 294
    2021-02-01 $449,300 (15.2%) $597,622 (24.3%) 1.31 255
    2021-03-01 $427,400 (5.5%) $569,909 (13.6%) 1.21 275
    2021-04-01 $433,625 (8.6%) $597,237 (24.0%) 1.17 299
    2021-05-01 $450,000 (8.5%) $569,194 (13.0%) 1.20 354
    2021-06-01 $462,218 (9.0%) $589,623 (14.1%) 1.22 418
    2021-07-01 $449,950 (4.8%) $595,122 (11.7%) 1.19 509
    2021-08-01 $462,104 (8.7%) $595,086 (10.1%) 1.23 573
    2021-09-01 $463,500 (5.8%) $617,436 (11.5%) 1.24 625
    2021-10-01 $450,000 (7.1%) $622,429 (14.6%) 1.20 623
    2021-11-01 $455,225 (5.9%) $634,623 (13.4%) 1.22 531
    2021-12-01 $482,975 (13.8%) $663,040 (16.7%) 1.31 439
    2022-01-01 $496,475 (11.7%) $730,178 (20.0%) 1.34 345
    2022-02-01 $499,000 (11.1%) $765,098 (28.0%) 1.30 326
    2022-03-01 $509,950 (19.3%) $744,159 (30.6%) 1.28 348
    2022-04-01 $506,630 (16.8%) $686,111 (14.9%) 1.21 414
    2022-05-01 $509,998 (13.3%) $660,496 (16.0%) 1.17 503
    2022-06-01 $504,945 (9.2%) $645,544 (9.5%) 1.12 619
    2022-07-01 $499,900 (11.1%) $617,545 (3.8%) 1.13 815
    2022-08-01 $499,000 (8.0%) $607,389 (2.1%) 1.15 897
    2022-09-01 $497,000 (7.2%) $604,679 (-2.1%) 1.16 935
    2022-10-01 $489,225 (8.7%) $567,286 (-8.9%) 1.15 975
    2022-11-01 $484,945 (6.5%) $570,383 (-10.1%) 1.17 954
    2022-12-01 $489,000 (1.3%) $589,835 (-11.0%) 1.21 838
    2023-01-01 $491,998 (-0.9%) $589,971 (-19.2%) 1.22 727
    2023-02-01 $497,000 (-0.4%) $596,657 (-22.0%) 1.20 646
    2023-03-01 $500,724 (-1.8%) $614,653 (-17.4%) 1.18 642
    2023-04-01 $506,140 (-0.1%) $627,086 (-8.6%) 1.18 604
    2023-05-01 $507,450 (-0.5%) $633,381 (-4.1%) 1.15 639
    2023-06-01 $503,868 (-0.2%) $621,945 (-3.7%) 1.13 748
    2023-07-01 $525,000 (5.0%) $631,180 (2.2%) 1.19 819
    2023-08-01 $517,474 (3.7%) $632,566 (4.2%) 1.19 864
    2023-09-01 $495,000 (-0.4%) $610,032 (0.9%) 1.15 881
    2023-10-01 $489,450 (0.1%) $606,533 (6.9%) 1.15 905
    2023-11-01 $481,450 (-0.7%) $603,261 (5.8%) 1.15 875
    2023-12-01 $475,000 (-2.9%) $599,052 (1.6%) 1.16 809
    2024-01-01 $481,995 (-2.0%) $611,083 (3.6%) 1.18 728
    2024-02-01 $489,220 (-1.6%) $614,220 (2.9%) 1.18 684
    2024-03-01 $499,000 (-0.3%) $625,846 (1.8%) 1.17 712
    2024-04-01 $510,950 (1.0%) $630,805 (0.6%) 1.19 802
    2024-05-01 $522,450 (3.0%) $634,712 (0.2%) 1.19 885
    2024-06-01 $522,750 (3.8%) $630,666 (1.4%) 1.19 969
    2024-07-01 $519,950 (-1.0%) $634,457 (0.5%) 1.19 1,096
    2024-08-01 $525,000 (1.5%) $635,382 (0.5%) 1.22 1,123
    2024-09-01 $523,950 (5.9%) $631,585 (3.5%) 1.23 1,094
    2024-10-01 $522,450 (6.7%) $626,372 (3.3%) 1.23 1,049
    2024-11-01 $520,000 (8.0%) $620,855 (2.9%) 1.25 1,014
    2024-12-01 $520,000 (9.5%) $614,898 (2.7%) 1.29 870
    2025-01-01 $523,000 (8.5%) $617,326 (1.0%) 1.31 786
    2025-02-01 $536,850 (9.7%) $630,824 (2.7%) 1.30 809
    2025-03-01 $549,900 (10.2%) $644,944 (3.1%) 1.29 833
    2025-04-01 $547,225 (7.1%) $638,059 (1.2%) 1.27 876
    2025-05-01 $539,900 (3.3%) $650,636 (2.5%) 1.23 973
    2025-06-01 $548,103 (4.9%) $653,394 (3.6%) 1.24 1,123
    Salem's median listing price for 2025-06-01 was $548,103, a difference of $25,353 (4.9%) versus the prior year and $8,203 versus the prior month.

    Salem's median listing price comes in at 124% of the national average.

    Salem's average listing price for 2025-06-01 was $653,394, a difference of $22,728 (3.6%) versus the prior year and $2,758 versus the prior month.

    For the 2025-06-01 period, Salem had 1,123 MLS listings, a difference of 150 listings (15%) versus the prior month and 154 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 69 days 2,099 sqft
    2018-02-01 53 days 2,058 sqft
    2018-03-01 38 days 2,032 sqft
    2018-04-01 39 days 2,037 sqft
    2018-05-01 31 days 2,070 sqft
    2018-06-01 33 days 2,030 sqft
    2018-07-01 41 days 2,079 sqft
    2018-08-01 36 days 2,031 sqft
    2018-09-01 43 days 1,994 sqft
    2018-10-01 55 days 1,996 sqft
    2018-11-01 56 days 1,968 sqft
    2018-12-01 66 days 1,969 sqft
    2019-01-01 73 days 1,949 sqft
    2019-02-01 55 days 1,931 sqft
    2019-03-01 48 days 1,955 sqft
    2019-04-01 45 days 1,952 sqft
    2019-05-01 41 days 1,927 sqft
    2019-06-01 37 days 1,950 sqft
    2019-07-01 40 days 1,955 sqft
    2019-08-01 45 days 1,990 sqft
    2019-09-01 50 days 1,998 sqft
    2019-10-01 52 days 2,017 sqft
    2019-11-01 57 days 2,026 sqft
    2019-12-01 68 days 2,005 sqft
    2020-01-01 75 days 1,993 sqft
    2020-02-01 67 days 1,995 sqft
    2020-03-01 45 days 2,023 sqft
    2020-04-01 46 days 1,989 sqft
    2020-05-01 52 days 2,076 sqft
    2020-06-01 45 days 2,144 sqft
    2020-07-01 35 days 2,157 sqft
    2020-08-01 33 days 2,053 sqft
    2020-09-01 37 days 2,097 sqft
    2020-10-01 38 days 2,017 sqft
    2020-11-01 55 days 2,029 sqft
    2020-12-01 57 days 1,989 sqft
    2021-01-01 37 days 2,084 sqft
    2021-02-01 30 days 1,956 sqft
    2021-03-01 19 days 1,873 sqft
    2021-04-01 19 days 1,868 sqft
    2021-05-01 14 days 1,879 sqft
    2021-06-01 18 days 1,944 sqft
    2021-07-01 22 days 1,933 sqft
    2021-08-01 24 days 1,938 sqft
    2021-09-01 28 days 1,907 sqft
    2021-10-01 32 days 1,856 sqft
    2021-11-01 37 days 1,876 sqft
    2021-12-01 44 days 1,932 sqft
    2022-01-01 52 days 1,952 sqft
    2022-02-01 28 days 1,893 sqft
    2022-03-01 27 days 1,905 sqft
    2022-04-01 22 days 1,864 sqft
    2022-05-01 25 days 1,912 sqft
    2022-06-01 23 days 1,897 sqft
    2022-07-01 29 days 1,855 sqft
    2022-08-01 36 days 1,901 sqft
    2022-09-01 46 days 1,899 sqft
    2022-10-01 48 days 1,842 sqft
    2022-11-01 55 days 1,812 sqft
    2022-12-01 71 days 1,848 sqft
    2023-01-01 83 days 1,846 sqft
    2023-02-01 84 days 1,863 sqft
    2023-03-01 56 days 1,890 sqft
    2023-04-01 50 days 1,851 sqft
    2023-05-01 34 days 1,871 sqft
    2023-06-01 33 days 1,805 sqft
    2023-07-01 40 days 1,865 sqft
    2023-08-01 45 days 1,865 sqft
    2023-09-01 51 days 1,824 sqft
    2023-10-01 55 days 1,815 sqft
    2023-11-01 58 days 1,790 sqft
    2023-12-01 71 days 1,781 sqft
    2024-01-01 79 days 1,733 sqft
    2024-02-01 73 days 1,746 sqft
    2024-03-01 50 days 1,815 sqft
    2024-04-01 37 days 1,865 sqft
    2024-05-01 39 days 1,881 sqft
    2024-06-01 46 days 1,896 sqft
    2024-07-01 47 days 1,878 sqft
    2024-08-01 50 days 1,900 sqft
    2024-09-01 63 days 1,888 sqft
    2024-10-01 65 days 1,879 sqft
    2024-11-01 65 days 1,873 sqft
    2024-12-01 74 days 1,850 sqft
    2025-01-01 79 days 1,865 sqft
    2025-02-01 79 days 1,882 sqft
    2025-03-01 56 days 1,883 sqft
    2025-04-01 51 days 1,886 sqft
    2025-05-01 51 days 1,902 sqft
    2025-06-01 51 days 1,922 sqft
    Salem's median listing age (time on market) for 2025-06-01 was 51 days. This is 11% longer than the same period one year ago.

    Salem's median square footage for active listings during the 2025-06-01 period was 1,922 sqft. One year prior, the average listing was 1,896 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.