Salisbury VA Loan Rates, Closing Costs & Stats

SALISBURY, MD-DE

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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.

    Salisbury's 103 lenders originated 799 VA loans during 2022. The total origination value was $273,295,000, with an average VA loan value of $342,046.

    Salisbury VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Salisbury averaged 5.87% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Salisbury's average VA mortgage closing costs are $6,671.

    The average rate for the prior week (2023-05-19) was 5.9% and one month ago for the week of 2023-04-21, the average rate was 6.02%.

    The average rate one year ago was 4.89%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.26%.

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

    Salisbury 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 Salisbury level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 75 5.17% $7,763
    QUICKEN LOANS, LLC 56 3.92% $12,947
    DHI MORTGAGE COMPANY, LTD. 37 3.79% $7,748
    NVR Mortgage Finance, Inc. 37 3.91% $8,878
    FREEDOM MORTGAGE CORPORATION 31 4.29% $13,716
    LOANDEPOT.COM, LLC 30 4.65% $14,473
    UNITED WHOLESALE MORTGAGE, LLC 29 4.06% $11,737
    NAVY FEDERAL CREDIT UNION 29 3.93% $8,250
    CALIBER HOME LOANS, INC. 25 4.02% $9,827
    MCLEAN MORTGAGE CORPORATION 21 4.12% $5,917
    USAA Federal Savings Bank 19 4.51% $9,043
    NEW DAY FINANCIAL, LLC 18 5.02% $13,995
    PENNYMAC LOAN SERVICES, LLC 18 3.42% $8,328
    The Federal Savings Bank 17 4.50% $14,425
    MOVEMENT MORTGAGE, LLC 16 4.89% $9,616
    GUARANTEED RATE AFFINITY, LLC 15 5.08% $7,907
    Nations Lending Corporation 14 4.88% $13,355
    First Home Bank 12 4.28% $13,018
    Meridian Bank Corporation 12 4.51% $10,324
    NFM, INC. 12 4.81% $9,011
    EMBRACE HOME LOANS, INC. 11 3.47% $9,422
    Prosperity Home Mortgage, LLC 10 4.78% $8,433
    PENTAGON FEDERAL CREDIT UNION 9 3.49% $5,333
    Capital Bank 9 4.03% $16,571
    Mr. Cooper ( Nationstar Mortgage ) 9 4.63% $11,388
    Mortgage Network, Inc. 9 4.79% $9,887
    Wells Fargo Bank 8 3.14% $5,941
    EAGLE HOME MORTGAGE, LLC 7 4.68% $4,257
    Equity Prime Mortgage LLC 7 4.54% $11,011
    TIDEWATER MORTGAGE SERVICES, INC. 7 4.27% $14,883
    AMERISAVE MORTGAGE CORPORATION 6 4.79% $12,632
    CROSSCOUNTRY MORTGAGE, LLC 6 5.02% $8,759
    Carrington Mortgage Services, LLC 6 4.46% $13,114
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 3.91% $14,783
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 5.37% $13,042
    VILLAGE CAPITAL MORTGAGE 5 3.70% $8,770
    Barrington Bank & Trust Company, N.A. 5 4.48% $7,147
    HOME POINT FINANCIAL CORPORATION 5 3.95% $11,301
    GUARANTEED RATE, INC. 5 4.31% $11,015
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 3.47% $9,670
    CLEARPATH LENDING 4 3.53% $10,917
    FIRST HOME MORTGAGE CORPORATION 4 4.50% $4,287
    HOMESIDE FINANCIAL, LLC 4 3.97% $13,760
    PNC Bank 4 3.47% $4,509
    SUN WEST MORTGAGE COMPANY, INC. 3 4.38% $7,941
    GUILD MORTGAGE COMPANY 3 5.29% $7,533
    Northpointe Bank 3 4.42% $3,002
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.87% $9,540
    CMG MORTGAGE, INC. 3 4.67% $11,825
    BROKER SOLUTIONS, INC. 3 5.04% $20,073
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.88% $13,810
    M&T Bank 3 3.08% $6,036
    NBKC BANK 3 4.00% $10,533
    CARDINAL FINANCIAL 2 5.75% $30,198
    LOANPAL, LLC 2 4.50% $14,467
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.81% $9,138
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.69% $8,249
    Fulton Bank 2 3.44% $19,330
    Evolve Bank & Trust 2 4.19% $12,909
    RELIANCE FIRST CAPITAL, LLC 2 5.19% $9,017
    EMM LOANS LLC 2 6.00% $17,122
    NEWREZ LLC 2 6.50% $8,169
    THE MORTGAGE LINK, INC. 2 3.81% $16,960
    Century Mortgage Company DBA Century Lending Company 2 5.06% $13,512
    Truist 2 5.13% $13,090
    Wyndham Capital Mortgage, Inc. 2 3.13% $8,602
    Blue Ridge Bank 1 2.75% $5,148
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.13% $169
    APEX HOME LOANS, INC. 1 3.25% $11,631
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.50% $5,223
    SUMMIT FUNDING, INC. 1 3.88% $1,231
    Texana Bank 1 4.88% $11,000
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $18,275
    Towne Bank 1 4.63% $4,092
    AMERICAN HOME LENDING USA, LLC 1 2.38% $3,261
    AMERICAN FINANCING CORPORATION 1 5.63% $19,696
    ACADEMY MORTGAGE CORPORATION 1 5.25% $7,965
    Waterstone Mortgage Corporation 1 5.13% $7,535
    ABSOLUTE HOME MORTGAGE CORPORATION 1 5.50% $10,462
    Wilmington Savings Fund Society, FSB 1 5.50% $16,037
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.25% $21,306
    ZILLOW HOME LOANS, LLC 1 3.00% $17,082
    First Guaranty Mortgage Corporation 1 3.50% $20,646
    INTERCOASTAL MORTGAGE COMPANY 1 2.75% $19,249
    Ixonia Bank 1 6.88% $3,374
    1ST FINANCIAL, INC. 1 4.63% $8,175
    Lakeview Community Capital, LLC 1 4.75% $10,665
    LAKEVIEW LOAN SERVICING, LLC 1 2.25% $3,825
    FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $6
    Magnolia Bank 1 5.75% $13,049
    Mid-Continent Funding, Inc. 1 3.13% $4,902
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.50% $3,262
    DIRECT MORTGAGE LOANS, LLC 1 4.75% $13,039
    Credence Funding Corporation 1 2.63% $4,652
    NASA Federal Credit Union 1 3.38% $2,853
    NATIONS DIRECT MORTGAGE, LLC 1 5.63% $5,387
    CONTOUR MORTGAGE CORPORATION 1 4.25% $18,704
    Citibank 1 4.13% $4,667
    North American Savings Bank, F.S.B. 1 4.63% $26,924
    CALCON MUTUAL MORTGAGE LLC 1 6.50% $25,501
    PIKE CREEK MORTGAGE SERVICES, INC. 1 3.25% $14,127
    First Mortgage Solutions, LLC 1 2.75% $5,599
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.25% $10,396

    The top Salisbury VA lender as defined by loan originations is Mortgage Research Center, LLC, with 75 VA loans originated. Their average total fees are $7,763, which is $5,184 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Salisbury VA lenders (with over 10 loans originated) are MCLEAN MORTGAGE CORPORATION ($5,917), DHI MORTGAGE COMPANY, LTD. ($7,748), Mortgage Research Center, LLC ($7,763), GUARANTEED RATE AFFINITY, LLC ($7,907) and NAVY FEDERAL CREDIT UNION ($8,250).

    The lowest rate Salisbury VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.42%), EMBRACE HOME LOANS, INC. (3.47%), DHI MORTGAGE COMPANY, LTD. (3.79%), NVR Mortgage Finance, Inc. (3.91%) and QUICKEN LOANS, LLC (3.92%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Salisbury (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 $299,900 (2.7%) $398,367 (3.1%) 1.11 3,932
    2018-02-01 $302,450 (2.1%) $400,528 (3.0%) 1.10 4,033
    2018-03-01 $305,000 (1.7%) $399,568 (1.5%) 1.07 4,114
    2018-04-01 $313,900 (4.7%) $408,972 (3.3%) 1.06 4,240
    2018-05-01 $314,950 (5.0%) $414,187 (3.7%) 1.05 4,351
    2018-06-01 $315,000 (3.5%) $412,790 (1.8%) 1.05 4,385
    2018-07-01 $318,500 (3.8%) $420,570 (3.8%) 1.06 4,255
    2018-08-01 $319,000 (2.9%) $421,832 (3.3%) 1.07 4,256
    2018-09-01 $318,000 (2.6%) $423,225 (3.7%) 1.07 4,322
    2018-10-01 $319,990 (4.0%) $428,235 (4.8%) 1.08 4,305
    2018-11-01 $319,945 (4.9%) $429,268 (5.9%) 1.08 4,206
    2018-12-01 $319,000 (6.4%) $418,898 (5.3%) 1.10 4,023
    2019-01-01 $311,975 (4.0%) $411,295 (3.3%) 1.08 3,849
    2019-02-01 $317,450 (5.0%) $420,094 (4.9%) 1.07 3,992
    2019-03-01 $322,833 (5.9%) $428,725 (7.3%) 1.08 4,085
    2019-04-01 $326,550 (4.0%) $442,940 (8.3%) 1.04 4,188
    2019-05-01 $332,447 (5.6%) $447,301 (8.0%) 1.04 4,196
    2019-06-01 $335,000 (6.4%) $446,625 (8.2%) 1.05 4,208
    2019-07-01 $335,950 (5.5%) $447,802 (6.5%) 1.05 4,054
    2019-08-01 $339,000 (6.3%) $452,284 (7.2%) 1.06 4,019
    2019-09-01 $339,450 (6.8%) $458,410 (8.3%) 1.07 3,763
    2019-10-01 $334,950 (4.7%) $448,357 (4.7%) 1.08 3,855
    2019-11-01 $332,995 (4.1%) $447,569 (4.3%) 1.09 3,700
    2019-12-01 $329,900 (3.4%) $439,774 (5.0%) 1.10 3,462
    2020-01-01 $329,900 (5.8%) $439,308 (6.8%) 1.10 3,326
    2020-02-01 $330,200 (4.0%) $446,776 (6.4%) 1.08 3,362
    2020-03-01 $339,100 (5.0%) $452,153 (5.5%) 1.06 3,389
    2020-04-01 $338,125 (3.5%) $447,343 (1.0%) 1.06 3,405
    2020-05-01 $339,990 (2.3%) $453,168 (1.3%) 1.03 3,290
    2020-06-01 $347,738 (3.8%) $466,216 (4.4%) 1.02 2,889
    2020-07-01 $349,450 (4.0%) $478,846 (6.9%) 1.01 2,516
    2020-08-01 $354,900 (4.7%) $495,805 (9.6%) 1.02 2,231
    2020-09-01 $355,948 (4.9%) $502,776 (9.7%) 1.02 2,043
    2020-10-01 $356,990 (6.6%) $513,515 (14.5%) 1.02 1,890
    2020-11-01 $357,391 (7.3%) $515,829 (15.3%) 1.05 1,747
    2020-12-01 $358,475 (8.7%) $513,464 (16.8%) 1.07 1,620
    2021-01-01 $359,658 (9.0%) $514,872 (17.2%) 1.07 1,447
    2021-02-01 $366,495 (11.0%) $524,290 (17.4%) 1.07 1,251
    2021-03-01 $380,750 (12.3%) $533,148 (17.9%) 1.08 1,206
    2021-04-01 $390,145 (15.4%) $556,118 (24.3%) 1.06 1,167
    2021-05-01 $399,900 (17.6%) $563,051 (24.3%) 1.06 1,118
    2021-06-01 $410,450 (18.0%) $564,754 (21.1%) 1.08 1,238
    2021-07-01 $419,900 (20.2%) $555,173 (15.9%) 1.11 1,326
    2021-08-01 $424,950 (19.7%) $560,936 (13.1%) 1.13 1,286
    2021-09-01 $424,248 (19.2%) $557,719 (10.9%) 1.13 1,313
    2021-10-01 $438,500 (22.8%) $568,664 (10.7%) 1.17 1,331
    2021-11-01 $440,675 (23.3%) $569,292 (10.4%) 1.18 1,249
    2021-12-01 $446,950 (24.7%) $571,648 (11.3%) 1.21 1,092
    2022-01-01 $458,000 (27.3%) $594,297 (15.4%) 1.24 941
    2022-02-01 $488,198 (33.2%) $613,920 (17.1%) 1.27 951
    2022-03-01 $489,450 (28.6%) $606,265 (13.7%) 1.23 1,042
    2022-04-01 $499,999 (28.2%) $643,442 (15.7%) 1.19 1,070
    2022-05-01 $499,947 (25.0%) $655,634 (16.4%) 1.14 1,193
    2022-06-01 $499,968 (21.8%) $638,111 (13.0%) 1.11 1,324
    2022-07-01 $509,000 (21.2%) $662,323 (19.3%) 1.15 1,464
    2022-08-01 $499,945 (17.7%) $661,206 (17.9%) 1.15 1,498
    2022-09-01 $499,950 (17.8%) $661,514 (18.6%) 1.17 1,553
    2022-10-01 $505,000 (15.2%) $654,045 (15.0%) 1.19 1,647
    2022-11-01 $499,990 (13.5%) $649,427 (14.1%) 1.20 1,644
    2022-12-01 $494,990 (10.8%) $632,703 (10.7%) 1.22 1,530
    2023-01-01 $497,400 (8.6%) $639,294 (7.6%) 1.23 1,393
    2023-02-01 $505,995 (3.7%) $653,434 (6.4%) 1.22 1,363
    2023-03-01 $502,757 (2.7%) $653,568 (7.8%) 1.18 1,390
    2023-04-01 $529,080 (5.8%) $676,019 (5.1%) 1.23 1,393
    Salisbury's median listing price for 2023-04-01 was $529,080, a difference of $29,081 (5.8%) versus the prior year and $26,323 versus the prior month.

    Salisbury's median listing price comes in at 123% of the national average.

    Salisbury's average listing price for 2023-04-01 was $676,019, a difference of $32,577 (5.1%) versus the prior year and $22,451 versus the prior month.

    For the 2023-04-01 period, Salisbury had 1,393 MLS listings, a difference of 3 listings (0%) versus the prior month and 323 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salisbury (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 135 days 1,798 sqft
    2018-02-01 131 days 1,800 sqft
    2018-03-01 119 days 1,798 sqft
    2018-04-01 97 days 1,800 sqft
    2018-05-01 95 days 1,822 sqft
    2018-06-01 99 days 1,820 sqft
    2018-07-01 105 days 1,851 sqft
    2018-08-01 109 days 1,851 sqft
    2018-09-01 110 days 1,840 sqft
    2018-10-01 108 days 1,840 sqft
    2018-11-01 108 days 1,831 sqft
    2018-12-01 120 days 1,817 sqft
    2019-01-01 129 days 1,800 sqft
    2019-02-01 130 days 1,792 sqft
    2019-03-01 121 days 1,800 sqft
    2019-04-01 89 days 1,849 sqft
    2019-05-01 91 days 1,865 sqft
    2019-06-01 95 days 1,860 sqft
    2019-07-01 100 days 1,870 sqft
    2019-08-01 109 days 1,900 sqft
    2019-09-01 115 days 1,904 sqft
    2019-10-01 104 days 1,880 sqft
    2019-11-01 102 days 1,866 sqft
    2019-12-01 115 days 1,856 sqft
    2020-01-01 121 days 1,854 sqft
    2020-02-01 114 days 1,861 sqft
    2020-03-01 98 days 1,870 sqft
    2020-04-01 92 days 1,873 sqft
    2020-05-01 105 days 1,892 sqft
    2020-06-01 113 days 1,926 sqft
    2020-07-01 112 days 1,952 sqft
    2020-08-01 80 days 1,949 sqft
    2020-09-01 68 days 1,913 sqft
    2020-10-01 68 days 1,900 sqft
    2020-11-01 72 days 1,879 sqft
    2020-12-01 81 days 1,853 sqft
    2021-01-01 95 days 1,845 sqft
    2021-02-01 91 days 1,848 sqft
    2021-03-01 76 days 1,861 sqft
    2021-04-01 64 days 1,857 sqft
    2021-05-01 57 days 1,897 sqft
    2021-06-01 47 days 1,915 sqft
    2021-07-01 45 days 1,917 sqft
    2021-08-01 52 days 1,888 sqft
    2021-09-01 54 days 1,865 sqft
    2021-10-01 54 days 1,883 sqft
    2021-11-01 54 days 1,873 sqft
    2021-12-01 68 days 1,877 sqft
    2022-01-01 86 days 1,894 sqft
    2022-02-01 73 days 1,958 sqft
    2022-03-01 45 days 1,960 sqft
    2022-04-01 47 days 1,971 sqft
    2022-05-01 49 days 2,000 sqft
    2022-06-01 45 days 2,007 sqft
    2022-07-01 51 days 2,016 sqft
    2022-08-01 57 days 2,024 sqft
    2022-09-01 60 days 2,038 sqft
    2022-10-01 63 days 2,049 sqft
    2022-11-01 64 days 2,012 sqft
    2022-12-01 81 days 2,000 sqft
    2023-01-01 99 days 1,993 sqft
    2023-02-01 101 days 2,017 sqft
    2023-03-01 66 days 2,006 sqft
    2023-04-01 65 days 2,023 sqft
    Salisbury's median listing age (time on market) for 2023-04-01 was 65 days. This is 38% longer than the same period one year ago.

    Salisbury's median square footage for active listings during the 2023-04-01 period was 2,023 sqft. One year prior, the average listing was 1,971 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.