Salinas VA Loan Rates, Closing Costs & Stats
SALINAS, CA
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.
Salinas's 54 lenders originated 213 VA loans during 2022. The total origination value was $142,475,000, with an average VA loan value of $668,897.
Salinas VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Salinas
averaged
5.82%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Salinas's average VA mortgage closing costs are $8,449.
The average rate for the prior week (2023-05-19) was
5.95% and
one month ago for the week of 2023-04-21, the
average rate was 5.77%.
The average rate one year ago was 4.84%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.8%.
Salinas 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 Salinas level.
The top Salinas VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
29 VA loans originated. Their average total fees are
$14,371, which is $181
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Salinas VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($11,239), QUICKEN LOANS, LLC ($14,371), UNITED WHOLESALE MORTGAGE, LLC ($14,552), Mortgage Research Center, LLC ($16,750) and .
The lowest rate Salinas VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION (3.76%), QUICKEN LOANS, LLC (3.92%), UNITED WHOLESALE MORTGAGE, LLC (4.09%), Mortgage Research Center, LLC (4.62%) and .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Salinas (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $931,050 (7.2%) | $2,034,550 (9.7%) | 3.45 | 557 |
2018-02-01 | $995,000 (8.6%) | $2,071,713 (-1.0%) | 3.62 | 572 |
2018-03-01 | $980,000 (5.8%) | $1,965,706 (-7.2%) | 3.44 | 613 |
2018-04-01 | $933,250 (-0.6%) | $2,067,904 (1.2%) | 3.16 | 655 |
2018-05-01 | $945,923 (1.6%) | $2,061,974 (3.6%) | 3.16 | 672 |
2018-06-01 | $965,000 (1.6%) | $2,111,105 (2.9%) | 3.22 | 676 |
2018-07-01 | $922,500 (-3.8%) | $1,968,788 (-4.1%) | 3.08 | 737 |
2018-08-01 | $882,495 (-7.1%) | $2,003,072 (-0.9%) | 2.96 | 762 |
2018-09-01 | $889,000 (-5.9%) | $2,022,816 (1.3%) | 2.99 | 797 |
2018-10-01 | $857,200 (-8.2%) | $1,944,286 (-0.2%) | 2.90 | 818 |
2018-11-01 | $849,000 (-9.8%) | $1,934,309 (0.4%) | 2.88 | 805 |
2018-12-01 | $867,000 (-7.8%) | $1,947,672 (-2.6%) | 2.99 | 740 |
2019-01-01 | $852,500 (-8.4%) | $1,990,829 (-2.2%) | 2.95 | 655 |
2019-02-01 | $910,000 (-8.5%) | $2,045,931 (-1.2%) | 3.07 | 690 |
2019-03-01 | $925,000 (-5.6%) | $2,048,397 (4.2%) | 3.08 | 682 |
2019-04-01 | $992,000 (6.3%) | $2,080,285 (0.6%) | 3.15 | 707 |
2019-05-01 | $996,097 (5.3%) | $2,021,882 (-1.9%) | 3.11 | 734 |
2019-06-01 | $1,095,000 (13.5%) | $2,157,119 (2.2%) | 3.42 | 793 |
2019-07-01 | $1,115,000 (20.9%) | $2,156,219 (9.5%) | 3.49 | 803 |
2019-08-01 | $1,249,000 (41.5%) | $2,263,295 (13.0%) | 3.92 | 796 |
2019-09-01 | $1,253,000 (40.9%) | $2,234,704 (10.5%) | 3.95 | 746 |
2019-10-01 | $1,124,750 (31.2%) | $2,084,645 (7.2%) | 3.63 | 796 |
2019-11-01 | $1,098,000 (29.3%) | $2,113,554 (9.3%) | 3.60 | 718 |
2019-12-01 | $1,000,000 (15.3%) | $2,107,268 (8.2%) | 3.33 | 611 |
2020-01-01 | $999,999 (17.3%) | $2,044,437 (2.7%) | 3.34 | 529 |
2020-02-01 | $1,150,000 (26.4%) | $2,245,289 (9.7%) | 3.77 | 556 |
2020-03-01 | $1,137,000 (22.9%) | $2,194,233 (7.1%) | 3.56 | 578 |
2020-04-01 | $1,089,000 (9.8%) | $2,115,161 (1.7%) | 3.41 | 585 |
2020-05-01 | $995,000 (-0.1%) | $2,025,381 (0.2%) | 3.02 | 640 |
2020-06-01 | $1,066,750 (-2.6%) | $2,136,691 (-1.0%) | 3.14 | 594 |
2020-07-01 | $1,192,250 (6.9%) | $2,256,238 (4.6%) | 3.46 | 503 |
2020-08-01 | $1,290,000 (3.3%) | $2,473,904 (9.3%) | 3.70 | 438 |
2020-09-01 | $1,296,500 (3.5%) | $2,539,168 (13.6%) | 3.71 | 412 |
2020-10-01 | $1,295,000 (15.1%) | $2,568,295 (23.2%) | 3.71 | 402 |
2020-11-01 | $1,345,250 (22.5%) | $2,609,349 (23.5%) | 3.93 | 387 |
2020-12-01 | $1,328,250 (32.8%) | $2,782,940 (32.1%) | 3.95 | 347 |
2021-01-01 | $1,295,000 (29.5%) | $2,871,440 (40.5%) | 3.87 | 316 |
2021-02-01 | $1,271,200 (10.5%) | $2,891,331 (28.8%) | 3.70 | 298 |
2021-03-01 | $1,293,500 (13.8%) | $2,899,752 (32.2%) | 3.67 | 274 |
2021-04-01 | $1,192,500 (9.5%) | $2,730,254 (29.1%) | 3.23 | 286 |
2021-05-01 | $1,199,000 (20.5%) | $2,665,909 (31.6%) | 3.18 | 286 |
2021-06-01 | $1,174,500 (10.1%) | $2,549,472 (19.3%) | 3.09 | 307 |
2021-07-01 | $1,125,000 (-5.6%) | $2,582,685 (14.5%) | 2.97 | 317 |
2021-08-01 | $1,199,250 (-7.0%) | $2,789,901 (12.8%) | 3.20 | 346 |
2021-09-01 | $1,149,000 (-11.4%) | $2,687,940 (5.9%) | 3.06 | 332 |
2021-10-01 | $1,099,500 (-15.1%) | $2,707,348 (5.4%) | 2.93 | 326 |
2021-11-01 | $1,072,500 (-20.3%) | $2,665,995 (2.2%) | 2.87 | 266 |
2021-12-01 | $1,030,500 (-22.4%) | $2,785,968 (0.1%) | 2.79 | 209 |
2022-01-01 | $1,099,000 (-15.1%) | $3,111,250 (8.4%) | 2.97 | 173 |
2022-02-01 | $1,017,500 (-20.0%) | $2,880,408 (-0.4%) | 2.65 | 196 |
2022-03-01 | $1,099,750 (-15.0%) | $2,847,511 (-1.8%) | 2.75 | 205 |
2022-04-01 | $995,000 (-16.6%) | $2,517,976 (-7.8%) | 2.37 | 271 |
2022-05-01 | $949,750 (-20.8%) | $2,423,603 (-9.1%) | 2.17 | 324 |
2022-06-01 | $999,000 (-14.9%) | $2,397,498 (-6.0%) | 2.22 | 366 |
2022-07-01 | $999,000 (-11.2%) | $2,308,169 (-10.6%) | 2.26 | 411 |
2022-08-01 | $992,444 (-17.2%) | $2,356,231 (-15.5%) | 2.29 | 456 |
2022-09-01 | $978,222 (-14.9%) | $2,398,835 (-10.8%) | 2.29 | 440 |
2022-10-01 | $905,000 (-17.7%) | $2,328,307 (-14.0%) | 2.13 | 420 |
2022-11-01 | $936,900 (-12.6%) | $2,292,323 (-14.0%) | 2.25 | 424 |
2022-12-01 | $950,000 (-7.8%) | $2,398,931 (-13.9%) | 2.35 | 353 |
2023-01-01 | $981,000 (-10.7%) | $2,454,052 (-21.1%) | 2.43 | 323 |
2023-02-01 | $1,241,250 (22.0%) | $2,725,104 (-5.4%) | 2.99 | 301 |
2023-03-01 | $1,250,750 (13.7%) | $2,719,292 (-4.5%) | 2.95 | 294 |
2023-04-01 | $1,300,000 (30.7%) | $2,756,924 (9.5%) | 3.02 | 272 |
Salinas's median listing price comes in at 302% of the national average.
Salinas's average listing price for 2023-04-01 was $2,756,924, a difference of $238,948 (9.5%) versus the prior year and $37,632 versus the prior month.
For the 2023-04-01 period, Salinas had 272 MLS listings, a difference of -22 listings (-7%) versus the prior month and 1 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Salinas (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 88 days | 2,020 sqft |
2018-02-01 | 67 days | 2,029 sqft |
2018-03-01 | 50 days | 1,991 sqft |
2018-04-01 | 53 days | 1,983 sqft |
2018-05-01 | 54 days | 1,963 sqft |
2018-06-01 | 59 days | 1,974 sqft |
2018-07-01 | 58 days | 1,948 sqft |
2018-08-01 | 59 days | 1,939 sqft |
2018-09-01 | 59 days | 1,941 sqft |
2018-10-01 | 64 days | 1,937 sqft |
2018-11-01 | 73 days | 1,906 sqft |
2018-12-01 | 85 days | 1,843 sqft |
2019-01-01 | 90 days | 1,806 sqft |
2019-02-01 | 79 days | 1,858 sqft |
2019-03-01 | 61 days | 1,888 sqft |
2019-04-01 | 61 days | 1,974 sqft |
2019-05-01 | 63 days | 2,014 sqft |
2019-06-01 | 64 days | 2,095 sqft |
2019-07-01 | 66 days | 2,101 sqft |
2019-08-01 | 76 days | 2,167 sqft |
2019-09-01 | 89 days | 2,210 sqft |
2019-10-01 | 89 days | 2,131 sqft |
2019-11-01 | 95 days | 2,164 sqft |
2019-12-01 | 107 days | 2,147 sqft |
2020-01-01 | 95 days | 2,109 sqft |
2020-02-01 | 74 days | 2,127 sqft |
2020-03-01 | 57 days | 2,126 sqft |
2020-04-01 | 70 days | 2,081 sqft |
2020-05-01 | 75 days | 2,070 sqft |
2020-06-01 | 83 days | 2,111 sqft |
2020-07-01 | 67 days | 2,114 sqft |
2020-08-01 | 64 days | 2,160 sqft |
2020-09-01 | 64 days | 2,148 sqft |
2020-10-01 | 61 days | 2,155 sqft |
2020-11-01 | 65 days | 2,152 sqft |
2020-12-01 | 62 days | 2,185 sqft |
2021-01-01 | 64 days | 2,133 sqft |
2021-02-01 | 63 days | 2,085 sqft |
2021-03-01 | 59 days | 2,034 sqft |
2021-04-01 | 61 days | 1,991 sqft |
2021-05-01 | 44 days | 1,965 sqft |
2021-06-01 | 43 days | 2,005 sqft |
2021-07-01 | 43 days | 1,981 sqft |
2021-08-01 | 42 days | 1,941 sqft |
2021-09-01 | 41 days | 1,935 sqft |
2021-10-01 | 50 days | 1,876 sqft |
2021-11-01 | 55 days | 1,879 sqft |
2021-12-01 | 79 days | 1,798 sqft |
2022-01-01 | 59 days | 1,842 sqft |
2022-02-01 | 26 days | 1,800 sqft |
2022-03-01 | 30 days | 1,936 sqft |
2022-04-01 | 26 days | 1,794 sqft |
2022-05-01 | 27 days | 1,755 sqft |
2022-06-01 | 31 days | 1,814 sqft |
2022-07-01 | 37 days | 1,838 sqft |
2022-08-01 | 43 days | 1,807 sqft |
2022-09-01 | 47 days | 1,849 sqft |
2022-10-01 | 53 days | 1,834 sqft |
2022-11-01 | 61 days | 1,817 sqft |
2022-12-01 | 72 days | 1,862 sqft |
2023-01-01 | 80 days | 1,869 sqft |
2023-02-01 | 63 days | 1,914 sqft |
2023-03-01 | 49 days | 1,918 sqft |
2023-04-01 | 47 days | 1,888 sqft |
Salinas's median square footage for active listings during the 2023-04-01 period was 1,888 sqft. One year prior, the average listing was 1,794 sqft.