Salina VA Loan Rates, Closing Costs & Stats

Salina, KS

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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.

    Salina's 19 lenders originated 57 VA loans during 2023. The total origination value was $12,745,000, with an average VA loan value of $223,596.

    Salina VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Salina averaged 0.16% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Salina's average VA mortgage closing costs are $4,202.

    The average rate for the prior week (2024-11-08) was 6.77% and one month ago for the week of 2024-10-11, the average rate was 6.33%.

    The average rate one year ago was 7.42%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    Salina 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 Salina level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 15 6.96% $4,758
    PENNYMAC LOAN SERVICES, LLC 8 6.30% $5,102
    USAA Federal Savings Bank 5 6.30% $6,174
    NBH Bank 5 6.05% $2,675
    FREEDOM MORTGAGE CORPORATION 3 6.46% $15,401
    PLANET HOME LENDING, LLC 2 6.87% $2,300
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $852
    QUICKEN LOANS, LLC 2 5.56% $7,200
    NAVY FEDERAL CREDIT UNION 2 5.94% $3,149
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.13% $1,502
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $5,900
    Sunflower Bank 1 5.13% $11,223
    UNITED WHOLESALE MORTGAGE, LLC 1 5.13% $8,457
    DAS Acquisition Company, LLC 1 7.38% $3,333
    MID AMERICA MORTGAGE, INC. 1 7.63% $6,162
    Barrington Bank & Trust Company, N.A. 1 7.75% $2,747
    NEW DAY FINANCIAL, LLC 1 7.75% $8,386
    Citibank 1 6.50% $6,543
    Plains Commerce Bank 1 5.75% $15,671

    The top Salina VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $4,758, which is $344 lower than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

    The lowest fee Salina VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,758), .

    The lowest rate Salina VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.96%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Salina (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 $135,700 (-8.8%) $181,666 (-7.5%) 0.00 155
    2018-02-01 $156,050 (5.8%) $192,050 (-3.7%) 0.00 158
    2018-03-01 $150,000 (0.0%) $191,661 (-3.4%) 0.00 152
    2018-04-01 $158,975 (9.6%) $198,116 (3.8%) 0.00 170
    2018-05-01 $159,475 (7.2%) $195,628 (3.4%) 0.00 172
    2018-06-01 $155,450 (0.5%) $188,693 (0.7%) 0.00 177
    2018-07-01 $148,225 (0.5%) $186,593 (0.1%) 0.00 183
    2018-08-01 $145,000 (0.3%) $180,570 (-1.3%) 0.00 184
    2018-09-01 $144,950 (0.0%) $183,899 (-0.1%) 0.00 181
    2018-10-01 $147,225 (0.7%) $190,138 (2.9%) 0.00 178
    2018-11-01 $151,925 (4.8%) $191,343 (6.2%) 0.00 179
    2018-12-01 $158,900 (14.3%) $190,077 (5.8%) 0.00 169
    2019-01-01 $158,975 (17.2%) $194,761 (7.2%) 0.00 150
    2019-02-01 $142,475 (-8.7%) $192,038 (0.0%) 0.00 145
    2019-03-01 $152,350 (1.6%) $196,240 (2.4%) 0.00 124
    2019-04-01 $171,975 (8.2%) $204,974 (3.5%) 0.00 118
    2019-05-01 $187,500 (17.6%) $223,260 (14.1%) 0.00 128
    2019-06-01 $169,900 (9.3%) $220,213 (16.7%) 0.00 133
    2019-07-01 $152,500 (2.9%) $192,972 (3.4%) 0.00 171
    2019-08-01 $147,209 (1.5%) $189,369 (4.9%) 0.00 174
    2019-09-01 $143,098 (-1.3%) $189,130 (2.8%) 0.00 176
    2019-10-01 $141,657 (-3.8%) $192,012 (1.0%) 0.00 179
    2019-11-01 $144,000 (-5.2%) $193,944 (1.4%) 0.00 150
    2019-12-01 $141,450 (-11.0%) $190,599 (0.3%) 0.00 148
    2020-01-01 $148,975 (-6.3%) $198,408 (1.9%) 0.00 137
    2020-02-01 $147,200 (3.3%) $196,186 (2.2%) 0.00 122
    2020-03-01 $150,900 (-1.0%) $205,358 (4.7%) 0.00 127
    2020-04-01 $149,450 (-13.1%) $206,276 (0.6%) 0.00 134
    2020-05-01 $147,450 (-21.4%) $196,203 (-12.1%) 0.00 116
    2020-06-01 $146,500 (-13.8%) $207,435 (-5.8%) 0.00 100
    2020-07-01 $140,100 (-8.1%) $208,335 (8.0%) 0.00 86
    2020-08-01 $145,000 (-1.5%) $217,040 (14.6%) 0.00 79
    2020-09-01 $134,825 (-5.8%) $206,100 (9.0%) 0.00 85
    2020-10-01 $122,500 (-13.5%) $189,729 (-1.2%) 0.00 80
    2020-11-01 $123,975 (-13.9%) $185,361 (-4.4%) 0.00 76
    2020-12-01 $114,000 (-19.4%) $185,550 (-2.7%) 0.00 70
    2021-01-01 $127,000 (-14.8%) $204,301 (3.0%) 0.00 63
    2021-02-01 $149,925 (1.9%) $223,160 (13.8%) 0.00 66
    2021-03-01 $147,975 (-1.9%) $211,608 (3.0%) 0.00 63
    2021-04-01 $124,850 (-16.5%) $176,610 (-14.4%) 0.00 59
    2021-05-01 $135,000 (-8.4%) $194,261 (-1.0%) 0.00 52
    2021-06-01 $141,500 (-3.4%) $207,628 (0.1%) 0.00 54
    2021-07-01 $139,900 (-0.1%) $254,439 (22.1%) 0.00 56
    2021-08-01 $126,950 (-12.5%) $240,075 (10.6%) 0.00 57
    2021-09-01 $129,700 (-3.8%) $226,816 (10.1%) 0.00 67
    2021-10-01 $136,000 (11.0%) $244,000 (28.6%) 0.00 58
    2021-11-01 $96,700 (-22.0%) $195,589 (5.5%) 0.00 73
    2021-12-01 $126,225 (10.7%) $233,275 (25.7%) 0.00 65
    2022-01-01 $109,000 (-14.2%) $241,870 (18.4%) 0.00 49
    2022-02-01 $91,000 (-39.3%) $247,586 (11.0%) 0.00 60
    2022-03-01 $98,725 (-33.3%) $235,072 (11.1%) 0.00 59
    2022-04-01 $142,000 (13.7%) $248,472 (40.7%) 0.00 66
    2022-05-01 $129,375 (-4.2%) $195,050 (0.4%) 0.00 66
    2022-06-01 $130,975 (-7.4%) $201,017 (-3.2%) 0.00 67
    2022-07-01 $192,450 (37.6%) $259,207 (1.9%) 0.00 66
    2022-08-01 $209,975 (65.4%) $290,672 (21.1%) 0.00 65
    2022-09-01 $172,200 (32.8%) $256,739 (13.2%) 0.00 70
    2022-10-01 $172,450 (26.8%) $243,934 (0.0%) 0.00 83
    2022-11-01 $180,000 (86.1%) $240,131 (22.8%) 0.00 87
    2022-12-01 $180,000 (42.6%) $225,168 (-3.5%) 0.00 71
    2023-01-01 $204,000 (87.2%) $254,868 (5.4%) 0.00 64
    2023-02-01 $179,250 (97.0%) $248,127 (0.2%) 0.00 65
    2023-03-01 $196,750 (99.3%) $279,166 (18.8%) 0.00 61
    2023-04-01 $204,000 (43.7%) $285,423 (14.9%) 0.00 64
    2023-05-01 $210,200 (62.5%) $304,068 (55.9%) 0.00 63
    2023-06-01 $218,350 (66.7%) $304,204 (51.3%) 0.00 68
    2023-07-01 $240,000 (24.7%) $310,823 (19.9%) 0.00 75
    2023-08-01 $233,625 (11.3%) $293,546 (1.0%) 0.00 87
    2023-09-01 $216,000 (25.4%) $286,404 (11.6%) 0.00 83
    2023-10-01 $229,375 (33.0%) $293,526 (20.3%) 0.00 91
    2023-11-01 $240,000 (33.3%) $281,454 (17.2%) 0.00 94
    2023-12-01 $230,000 (27.8%) $274,824 (22.1%) 0.00 93
    2024-01-01 $220,000 (7.8%) $275,770 (8.2%) 0.00 85
    2024-02-01 $205,750 (14.8%) $270,903 (9.2%) 0.00 69
    2024-03-01 $230,000 (16.9%) $248,481 (-11.0%) 0.00 72
    2024-04-01 $219,500 (7.6%) $275,933 (-3.3%) 0.00 69
    2024-05-01 $236,750 (12.6%) $275,682 (-9.3%) 0.00 69
    2024-06-01 $214,500 (-1.8%) $259,807 (-14.6%) 0.00 73
    2024-07-01 $217,250 (-9.5%) $276,552 (-11.0%) 0.00 98
    2024-08-01 $220,000 (-5.8%) $268,695 (-8.5%) 0.00 109
    2024-09-01 $216,500 (0.2%) $283,852 (-0.9%) 0.00 109
    2024-10-01 $209,500 (-8.7%) $280,884 (-4.3%) 0.00 105
    Salina's median listing price for 2024-10-01 was $209,500, a difference of $-19,875 (-8.7%) versus the prior year and $-7,000 versus the prior month.

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

    Salina's average listing price for 2024-10-01 was $280,884, a difference of $-12,642 (-4.3%) versus the prior year and $-2,968 versus the prior month.

    For the 2024-10-01 period, Salina had 105 MLS listings, a difference of -4 listings (-4%) versus the prior month and 14 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salina (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,427 sqft
    2018-02-01 0 days 1,427 sqft
    2018-03-01 0 days 1,443 sqft
    2018-04-01 0 days 1,482 sqft
    2018-05-01 0 days 1,477 sqft
    2018-06-01 0 days 1,496 sqft
    2018-07-01 0 days 1,520 sqft
    2018-08-01 0 days 1,475 sqft
    2018-09-01 0 days 1,478 sqft
    2018-10-01 0 days 1,504 sqft
    2018-11-01 0 days 1,493 sqft
    2018-12-01 0 days 1,494 sqft
    2019-01-01 0 days 1,497 sqft
    2019-02-01 0 days 1,471 sqft
    2019-03-01 0 days 1,511 sqft
    2019-04-01 0 days 1,584 sqft
    2019-05-01 0 days 1,605 sqft
    2019-06-01 0 days 1,551 sqft
    2019-07-01 0 days 1,486 sqft
    2019-08-01 0 days 1,483 sqft
    2019-09-01 0 days 1,466 sqft
    2019-10-01 0 days 1,456 sqft
    2019-11-01 0 days 1,465 sqft
    2019-12-01 0 days 1,434 sqft
    2020-01-01 0 days 1,463 sqft
    2020-02-01 0 days 1,456 sqft
    2020-03-01 0 days 1,468 sqft
    2020-04-01 0 days 1,482 sqft
    2020-05-01 0 days 1,467 sqft
    2020-06-01 0 days 1,468 sqft
    2020-07-01 0 days 1,440 sqft
    2020-08-01 0 days 1,438 sqft
    2020-09-01 0 days 1,442 sqft
    2020-10-01 0 days 1,340 sqft
    2020-11-01 0 days 1,392 sqft
    2020-12-01 0 days 1,356 sqft
    2021-01-01 0 days 1,477 sqft
    2021-02-01 0 days 1,542 sqft
    2021-03-01 0 days 1,424 sqft
    2021-04-01 0 days 1,298 sqft
    2021-05-01 0 days 1,344 sqft
    2021-06-01 0 days 1,438 sqft
    2021-07-01 0 days 1,400 sqft
    2021-08-01 0 days 1,350 sqft
    2021-09-01 0 days 1,375 sqft
    2021-10-01 0 days 1,374 sqft
    2021-11-01 0 days 1,132 sqft
    2021-12-01 0 days 1,229 sqft
    2022-01-01 0 days 1,144 sqft
    2022-02-01 0 days 1,144 sqft
    2022-03-01 0 days 1,144 sqft
    2022-04-01 0 days 1,185 sqft
    2022-05-01 0 days 1,219 sqft
    2022-06-01 0 days 1,197 sqft
    2022-07-01 0 days 1,472 sqft
    2022-08-01 0 days 1,476 sqft
    2022-09-01 0 days 1,390 sqft
    2022-10-01 0 days 1,394 sqft
    2022-11-01 0 days 1,382 sqft
    2022-12-01 0 days 1,364 sqft
    2023-01-01 0 days 1,435 sqft
    2023-02-01 0 days 1,388 sqft
    2023-03-01 0 days 1,441 sqft
    2023-04-01 0 days 1,451 sqft
    2023-05-01 0 days 1,497 sqft
    2023-06-01 0 days 1,570 sqft
    2023-07-01 0 days 1,624 sqft
    2023-08-01 0 days 1,643 sqft
    2023-09-01 0 days 1,597 sqft
    2023-10-01 0 days 1,606 sqft
    2023-11-01 0 days 1,602 sqft
    2023-12-01 0 days 1,526 sqft
    2024-01-01 0 days 1,590 sqft
    2024-02-01 0 days 1,519 sqft
    2024-03-01 0 days 1,488 sqft
    2024-04-01 0 days 1,433 sqft
    2024-05-01 0 days 1,611 sqft
    2024-06-01 0 days 1,600 sqft
    2024-07-01 0 days 1,593 sqft
    2024-08-01 0 days 1,479 sqft
    2024-09-01 0 days 1,506 sqft
    2024-10-01 0 days 1,595 sqft
    Salina's median listing age (time on market) for 2024-10-01 was 0 days.

    Salina's median square footage for active listings during the 2024-10-01 period was 1,595 sqft. One year prior, the average listing was 1,606 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.