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 91 lenders originated 573 VA loans during 2023. The total origination value was $204,455,000, with an average VA loan value of $356,815.

    Salisbury VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Salisbury averaged 6.6% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Salisbury's average VA mortgage closing costs are $7,025.

    The average rate for the prior week (2024-07-12) was 6.74% and one month ago for the week of 2024-06-14, the average rate was 6.5%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.39%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 68 6.75% $7,921
    NVR Mortgage Finance, Inc. 39 5.72% $8,763
    QUICKEN LOANS, LLC 25 6.43% $13,646
    MOVEMENT MORTGAGE, LLC 23 6.47% $7,921
    DHI MORTGAGE COMPANY, LTD. 23 5.59% $6,759
    LOANDEPOT.COM, LLC 18 6.39% $10,738
    NAVY FEDERAL CREDIT UNION 16 5.65% $9,260
    EAGLE HOME MORTGAGE, LLC 16 6.18% $5,454
    The Federal Savings Bank 15 6.44% $19,211
    Prosperity Home Mortgage, LLC 14 5.83% $8,589
    GUARANTEED RATE AFFINITY, LLC 13 6.36% $8,336
    FREEDOM MORTGAGE CORPORATION 13 6.42% $16,819
    Meridian Bank Corporation 12 6.63% $13,562
    UNITED WHOLESALE MORTGAGE, LLC 12 6.02% $13,081
    PENTAGON FEDERAL CREDIT UNION 12 5.53% $9,588
    CMG MORTGAGE, INC. 11 6.57% $9,211
    NEW DAY FINANCIAL, LLC 10 7.52% $10,382
    PENNYMAC LOAN SERVICES, LLC 10 5.70% $10,345
    CALIBER HOME LOANS, INC. 9 5.80% $12,247
    CROSSCOUNTRY MORTGAGE, LLC 8 6.90% $10,216
    TIDEWATER MORTGAGE SERVICES, INC. 8 6.67% $12,992
    Waterstone Mortgage Corporation 7 6.77% $13,073
    USAA Federal Savings Bank 7 6.59% $9,146
    FIRST HOME MORTGAGE CORPORATION 7 6.09% $10,200
    NEWREZ LLC 7 6.76% $10,057
    EMBRACE HOME LOANS, INC. 6 5.89% $19,735
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 6 6.73% $9,141
    CARDINAL FINANCIAL 5 6.48% $12,907
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.10% $9,560
    HOMESIDE FINANCIAL, LLC 5 6.25% $8,192
    GUARANTEED RATE, INC. 5 6.00% $13,762
    GUILD MORTGAGE COMPANY 4 6.38% $16,531
    Wells Fargo Bank 4 6.44% $4,325
    AMERISAVE MORTGAGE CORPORATION 4 5.38% $27,844
    Capital Bank 4 6.68% $14,603
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.88% $14,855
    ABSOLUTE HOME MORTGAGE CORPORATION 3 6.75% $14,176
    PIKE CREEK MORTGAGE SERVICES, INC. 3 6.25% $10,969
    Nations Lending Corporation 3 7.00% $17,444
    NFM, INC. 3 5.88% $7,778
    Ixonia Bank 3 6.71% $8,598
    VILLAGE CAPITAL MORTGAGE 3 5.96% $14,423
    Keystone Funding, Inc. 3 5.67% $17,209
    RELIANCE FIRST CAPITAL, LLC 3 6.71% $14,618
    Mr. Cooper ( Nationstar Mortgage ) 3 6.17% $10,016
    FIRST COMMUNITY MORTGAGE, INC. 3 6.75% $17,463
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.50% $12,437
    ALLIED MORTGAGE GROUP, INC. 2 7.06% $23,826
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.38% $7,668
    BAYSHORE MORTGAGE FUNDING, LLC 2 7.06% $10,780
    CHURCHILL MORTGAGE CORPORATION 2 7.19% $25,887
    EMM LOANS LLC 2 5.75% $15,365
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.00% $12,073
    M&T Bank 2 6.38% $7,441
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.88% $12,976
    NBKC BANK 2 6.13% $6,103
    Northpointe Bank 2 6.00% $982
    PNC Bank 2 6.50% $3,961
    Magnolia Bank 1 5.75% $24,739
    JPMorgan Chase Bank 1 6.25% $1,085
    INTERCOASTAL MORTGAGE COMPANY 1 5.25% $7,569
    North American Savings Bank, F.S.B. 1 5.25% $2,313
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $11,510
    Integrity Home Mortgage Corp 1 6.63% $30,859
    HomePromise Corporation 1 7.75% $19,990
    First National Bank of Pennsylvania 1 6.75% $3,852
    First Heritage Mortgage, LLC 1 6.00% $10,093
    AMCAP MORTGAGE, LTD. 1 7.00% $18,273
    Equity Prime Mortgage LLC 1 7.38% $3,435
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $16,374
    Princeton Mortgage Corporation 1 7.25% $5,608
    Credence Funding Corporation 1 6.25% $7,808
    CONTOUR MORTGAGE CORPORATION 1 6.25% $15,316
    RAPID MORTGAGE COMPANY 1 6.25% $3,699
    Colonial Savings, F.A. 1 5.88% $19,095
    Sandy Spring Bank 1 7.13% $9,154
    Shore United Bank 1 6.63% $12,246
    SWBC MORTGAGE CORPORATION 1 5.75% $18,570
    T2 FINANCIAL LLC 1 6.13% $480
    The Central Trust Bank 1 5.63% $4,182
    BROKER SOLUTIONS, INC. 1 6.25% $11,505
    THE MORTGAGE LINK, INC. 1 7.50% $25,644
    BAY EQUITY LLC 1 7.13% $5,075
    TJC Mortgage, Inc. 1 6.00% $6,506
    Towne Bank 1 6.50% $9,606
    Truist 1 6.10% $5,361
    Barrington Bank & Trust Company, N.A. 1 5.75% $3,733
    Armed Forces Bank 1 5.75% $8,565
    NATION ONE MORTGAGE CORPORATION 1 6.75% $12,731
    MORTGAGEONE, INC. 1 5.50% $150
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $13,610

    The top Salisbury VA lender as defined by loan originations is Mortgage Research Center, LLC, with 68 VA loans originated. Their average total fees are $7,921, which is $842 lower than the next largest lender, NVR Mortgage Finance, Inc..

    The lowest fee Salisbury VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($5,454), DHI MORTGAGE COMPANY, LTD. ($6,759), MOVEMENT MORTGAGE, LLC ($7,921), Mortgage Research Center, LLC ($7,921) and GUARANTEED RATE AFFINITY, LLC ($8,336).

    The lowest rate Salisbury VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.53%), DHI MORTGAGE COMPANY, LTD. (5.59%), NAVY FEDERAL CREDIT UNION (5.65%), PENNYMAC LOAN SERVICES, LLC (5.70%) and NVR Mortgage Finance, Inc. (5.72%).

    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.