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 7.16% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.89% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.04%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.24%.

    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%).

    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%) $398,289 (3.1%) 1.11 3,934
    2018-02-01 $301,812 (1.9%) $400,441 (3.0%) 1.10 4,035
    2018-03-01 $305,000 (1.7%) $399,534 (1.5%) 1.07 4,115
    2018-04-01 $313,400 (4.5%) $408,937 (3.3%) 1.06 4,241
    2018-05-01 $314,950 (5.0%) $414,194 (3.7%) 1.05 4,351
    2018-06-01 $315,000 (3.6%) $412,782 (1.9%) 1.05 4,385
    2018-07-01 $318,500 (4.3%) $420,562 (3.8%) 1.06 4,255
    2018-08-01 $319,000 (2.9%) $421,794 (3.3%) 1.07 4,257
    2018-09-01 $318,000 (2.7%) $423,225 (3.7%) 1.07 4,322
    2018-10-01 $319,990 (4.3%) $428,232 (4.8%) 1.08 4,306
    2018-11-01 $319,945 (5.0%) $429,262 (5.9%) 1.08 4,207
    2018-12-01 $319,000 (6.4%) $418,893 (5.3%) 1.10 4,024
    2019-01-01 $312,000 (4.0%) $411,292 (3.3%) 1.08 3,850
    2019-02-01 $317,450 (5.2%) $420,089 (4.9%) 1.07 3,993
    2019-03-01 $322,143 (5.6%) $431,470 (8.0%) 1.05 4,066
    2019-04-01 $326,523 (4.2%) $442,884 (8.3%) 1.04 4,145
    2019-05-01 $332,447 (5.6%) $447,301 (8.0%) 1.04 4,197
    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 $336,355 (5.4%) $447,478 (6.1%) 1.07 3,949
    2019-09-01 $335,536 (5.5%) $446,746 (5.6%) 1.07 3,912
    2019-10-01 $334,950 (4.7%) $446,833 (4.3%) 1.08 3,872
    2019-11-01 $332,995 (4.1%) $447,569 (4.3%) 1.09 3,700
    2019-12-01 $329,900 (3.4%) $439,718 (5.0%) 1.10 3,463
    2020-01-01 $329,900 (5.7%) $439,250 (6.8%) 1.10 3,327
    2020-02-01 $330,000 (4.0%) $446,717 (6.3%) 1.08 3,363
    2020-03-01 $339,000 (5.2%) $452,092 (4.8%) 1.06 3,390
    2020-04-01 $337,975 (3.5%) $447,284 (1.0%) 1.06 3,406
    2020-05-01 $339,990 (2.3%) $452,990 (1.3%) 1.03 3,293
    2020-06-01 $347,200 (3.6%) $466,099 (4.4%) 1.02 2,891
    2020-07-01 $349,350 (4.0%) $478,702 (6.9%) 1.01 2,518
    2020-08-01 $354,400 (5.4%) $495,738 (10.8%) 1.02 2,232
    2020-09-01 $355,450 (5.9%) $502,573 (12.5%) 1.02 2,044
    2020-10-01 $356,295 (6.4%) $513,327 (14.9%) 1.02 1,891
    2020-11-01 $357,065 (7.2%) $515,625 (15.2%) 1.04 1,748
    2020-12-01 $358,425 (8.7%) $513,231 (16.7%) 1.07 1,621
    2021-01-01 $359,560 (9.0%) $514,444 (17.1%) 1.07 1,448
    2021-02-01 $366,450 (11.1%) $523,616 (17.2%) 1.07 1,252
    2021-03-01 $380,725 (12.3%) $532,858 (17.9%) 1.08 1,207
    2021-04-01 $389,823 (15.3%) $555,886 (24.3%) 1.06 1,168
    2021-05-01 $399,900 (17.6%) $562,847 (24.3%) 1.06 1,118
    2021-06-01 $410,450 (18.2%) $564,658 (21.2%) 1.08 1,238
    2021-07-01 $419,900 (20.2%) $555,173 (16.0%) 1.11 1,326
    2021-08-01 $424,950 (19.9%) $560,579 (13.1%) 1.13 1,289
    2021-09-01 $424,000 (19.3%) $557,205 (10.9%) 1.13 1,314
    2021-10-01 $439,000 (23.2%) $568,794 (10.8%) 1.17 1,330
    2021-11-01 $441,225 (23.6%) $569,492 (10.5%) 1.18 1,247
    2021-12-01 $446,950 (24.7%) $571,822 (11.4%) 1.21 1,091
    2022-01-01 $458,000 (27.4%) $594,042 (15.5%) 1.24 940
    2022-02-01 $486,250 (32.7%) $613,103 (17.1%) 1.26 955
    2022-03-01 $488,660 (28.4%) $604,526 (13.5%) 1.22 1,046
    2022-04-01 $499,999 (28.3%) $642,780 (15.6%) 1.19 1,075
    2022-05-01 $499,947 (25.0%) $655,245 (16.4%) 1.14 1,194
    2022-06-01 $499,968 (21.8%) $637,841 (13.0%) 1.11 1,325
    2022-07-01 $509,900 (21.4%) $662,334 (19.3%) 1.15 1,463
    2022-08-01 $499,947 (17.7%) $660,756 (17.9%) 1.16 1,497
    2022-09-01 $499,950 (17.9%) $661,241 (18.7%) 1.17 1,551
    2022-10-01 $505,000 (15.0%) $653,140 (14.8%) 1.19 1,646
    2022-11-01 $499,945 (13.3%) $648,756 (13.9%) 1.20 1,644
    2022-12-01 $494,900 (10.7%) $631,881 (10.5%) 1.22 1,536
    2023-01-01 $497,375 (8.6%) $638,687 (7.5%) 1.23 1,396
    2023-02-01 $504,990 (3.9%) $653,235 (6.6%) 1.22 1,363
    2023-03-01 $502,425 (2.8%) $652,669 (8.0%) 1.19 1,390
    2023-04-01 $529,900 (6.0%) $674,877 (5.0%) 1.23 1,393
    2023-05-01 $529,995 (6.0%) $669,845 (2.2%) 1.20 1,456
    2023-06-01 $528,995 (5.8%) $679,430 (6.5%) 1.19 1,496
    2023-07-01 $519,000 (1.8%) $664,406 (0.3%) 1.18 1,548
    2023-08-01 $514,945 (3.0%) $664,026 (0.5%) 1.18 1,564
    2023-09-01 $509,990 (2.0%) $658,253 (-0.5%) 1.19 1,665
    2023-10-01 $510,000 (1.0%) $666,352 (2.0%) 1.20 1,720
    2023-11-01 $497,000 (-0.6%) $646,555 (-0.3%) 1.18 1,831
    2023-12-01 $484,900 (-2.0%) $631,096 (-0.1%) 1.18 1,738
    2024-01-01 $484,250 (-2.6%) $624,103 (-2.3%) 1.18 1,699
    2024-02-01 $486,000 (-3.8%) $622,329 (-4.7%) 1.17 1,782
    2024-03-01 $499,250 (-0.6%) $641,446 (-1.7%) 1.18 1,877
    Salisbury's median listing price for 2024-03-01 was $499,250, a difference of $-3,175 (-0.6%) versus the prior year and $13,250 versus the prior month.

    Salisbury's median listing price comes in at 118% of the national average.

    Salisbury's average listing price for 2024-03-01 was $641,446, a difference of $-11,223 (-1.7%) versus the prior year and $19,117 versus the prior month.

    For the 2024-03-01 period, Salisbury had 1,877 MLS listings, a difference of 95 listings (5%) versus the prior month and 487 listings (35%) 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
    2018-01-01 111 days 1,798 sqft
    2018-02-01 104 days 1,800 sqft
    2018-03-01 85 days 1,798 sqft
    2018-04-01 76 days 1,800 sqft
    2018-05-01 76 days 1,826 sqft
    2018-06-01 80 days 1,821 sqft
    2018-07-01 85 days 1,851 sqft
    2018-08-01 89 days 1,851 sqft
    2018-09-01 89 days 1,842 sqft
    2018-10-01 85 days 1,840 sqft
    2018-11-01 91 days 1,831 sqft
    2018-12-01 100 days 1,816 sqft
    2019-01-01 110 days 1,800 sqft
    2019-02-01 111 days 1,792 sqft
    2019-03-01 94 days 1,821 sqft
    2019-04-01 74 days 1,849 sqft
    2019-05-01 75 days 1,865 sqft
    2019-06-01 79 days 1,860 sqft
    2019-07-01 85 days 1,869 sqft
    2019-08-01 85 days 1,883 sqft
    2019-09-01 83 days 1,881 sqft
    2019-10-01 82 days 1,879 sqft
    2019-11-01 86 days 1,866 sqft
    2019-12-01 98 days 1,856 sqft
    2020-01-01 106 days 1,854 sqft
    2020-02-01 96 days 1,860 sqft
    2020-03-01 72 days 1,870 sqft
    2020-04-01 77 days 1,873 sqft
    2020-05-01 90 days 1,892 sqft
    2020-06-01 96 days 1,926 sqft
    2020-07-01 82 days 1,952 sqft
    2020-08-01 61 days 1,949 sqft
    2020-09-01 51 days 1,913 sqft
    2020-10-01 57 days 1,900 sqft
    2020-11-01 61 days 1,879 sqft
    2020-12-01 69 days 1,853 sqft
    2021-01-01 78 days 1,845 sqft
    2021-02-01 73 days 1,848 sqft
    2021-03-01 57 days 1,861 sqft
    2021-04-01 51 days 1,857 sqft
    2021-05-01 49 days 1,895 sqft
    2021-06-01 41 days 1,914 sqft
    2021-07-01 40 days 1,915 sqft
    2021-08-01 46 days 1,887 sqft
    2021-09-01 47 days 1,864 sqft
    2021-10-01 49 days 1,880 sqft
    2021-11-01 49 days 1,871 sqft
    2021-12-01 62 days 1,871 sqft
    2022-01-01 73 days 1,893 sqft
    2022-02-01 55 days 1,965 sqft
    2022-03-01 39 days 1,961 sqft
    2022-04-01 42 days 1,976 sqft
    2022-05-01 44 days 2,000 sqft
    2022-06-01 42 days 2,004 sqft
    2022-07-01 47 days 2,016 sqft
    2022-08-01 51 days 2,028 sqft
    2022-09-01 55 days 2,038 sqft
    2022-10-01 56 days 2,053 sqft
    2022-11-01 57 days 2,013 sqft
    2022-12-01 77 days 2,000 sqft
    2023-01-01 91 days 1,995 sqft
    2023-02-01 84 days 2,016 sqft
    2023-03-01 54 days 2,005 sqft
    2023-04-01 55 days 2,023 sqft
    2023-05-01 51 days 2,023 sqft
    2023-06-01 50 days 2,079 sqft
    2023-07-01 53 days 2,023 sqft
    2023-08-01 57 days 2,001 sqft
    2023-09-01 54 days 1,980 sqft
    2023-10-01 50 days 1,938 sqft
    2023-11-01 52 days 1,907 sqft
    2023-12-01 63 days 1,858 sqft
    2024-01-01 75 days 1,839 sqft
    2024-02-01 70 days 1,837 sqft
    2024-03-01 50 days 1,861 sqft
    Salisbury's median listing age (time on market) for 2024-03-01 was 50 days. This is -8% shorter than the same period one year ago.

    Salisbury's median square footage for active listings during the 2024-03-01 period was 1,861 sqft. One year prior, the average listing was 2,005 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.