Salisbury VA Loans

SALISBURY, MD-DE

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 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 154 lenders originated 1,829 VA loans during 2021. The total origination value was $522,075,000, with an average VA loan value of $285,443.

Salisbury VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Salisbury averaged 5.6% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.73% and one month ago for the week of 2022-04-08, the average rate was 5.25%.

The average rate one year ago was 3.27%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.18%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Salisbury level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 154 2.47% $5,512
Mortgage Research Center, LLC 143 2.94% $6,590
FREEDOM MORTGAGE CORPORATION 121 2.42% $3,230
PENNYMAC LOAN SERVICES, LLC 84 2.37% $5,797
NEW DAY FINANCIAL, LLC 62 2.77% $9,573
CALIBER HOME LOANS, INC. 54 2.57% $6,132
EMBRACE HOME LOANS, INC. 42 2.73% $7,681
Wells Fargo Bank 38 2.54% $5,669
USAA Federal Savings Bank 35 2.81% $4,974
NAVY FEDERAL CREDIT UNION 35 2.50% $6,369
LOANDEPOT.COM, LLC 34 2.64% $4,745
NVR Mortgage Finance, Inc. 29 2.89% $7,999
DHI MORTGAGE COMPANY, LTD. 29 2.72% $7,230
The Federal Savings Bank 28 2.38% $6,645
MOVEMENT MORTGAGE, LLC 26 2.82% $6,427
MCLEAN MORTGAGE CORPORATION 25 2.73% $7,654
Mr. Cooper ( Nationstar Mortgage ) 25 2.87% $4,099
Mortgage Network, Inc. 23 2.98% $7,254
LAKEVIEW LOAN SERVICING, LLC 22 2.44% $2,844
VILLAGE CAPITAL & INVESTMENT LLC 22 2.28% $3,373
HOME POINT FINANCIAL CORPORATION 20 2.61% $7,383
UNITED WHOLESALE MORTGAGE, LLC 20 2.51% $9,314
FIRST HOME MORTGAGE CORPORATION 18 2.83% $4,369
PENTAGON FEDERAL CREDIT UNION 17 2.37% $3,900
Barrington Bank & Trust Company, N.A. 17 2.80% $6,058
Prosperity Home Mortgage, LLC 17 2.69% $5,239
First Home Bank 17 2.81% $8,800
Capital Bank 16 2.54% $8,008
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 16 2.89% $7,298
NEWREZ LLC 15 2.73% $3,814
Meridian Bank Corporation 14 2.80% $9,206
AMERISAVE MORTGAGE CORPORATION 14 2.63% $7,273
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 13 2.85% $8,248
Low VA Rates, LLC 12 2.33% $4,178
ACCELERATE MORTGAGE, LLC 11 2.09% $6,048
Nations Lending Corporation 11 2.88% $6,254
GUARANTEED RATE AFFINITY, LLC 11 2.74% $7,655
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 3.14% $6,867
Keystone Funding, Inc. 11 2.59% $6,677
TIDEWATER MORTGAGE SERVICES, INC. 10 3.38% $7,204
NFM, INC. 10 2.80% $10,375
GUARANTEED RATE, INC. 9 2.72% $5,542
Towne Bank 9 2.57% $9,759
Carrington Mortgage Services, LLC 9 3.03% $4,031
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 9 2.94% $8,710
CLEARPATH LENDING 8 2.31% $3,818
CROSSCOUNTRY MORTGAGE, LLC 8 3.11% $13,036
EAGLE HOME MORTGAGE, LLC 8 3.08% $8,514
PNC Bank 8 2.66% $4,795
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 2.98% $9,887
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 2.75% $13,540
SUN WEST MORTGAGE COMPANY, INC. 7 2.43% $7,949
DRAPER AND KRAMER MORTGAGE CORP. 6 2.87% $6,714
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.75% $9,389
RESIDENTIAL MORTGAGE SERVICES, INC. 6 2.67% $7,583
BROKER SOLUTIONS, INC. 6 2.98% $4,520
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.40% $10,796
AMERICAN FINANCIAL NETWORK, INC. 5 2.65% $6,684
PLANET HOME LENDING, LLC 5 2.68% $5,389
NP, Inc. 5 2.25% $4,109
CMG MORTGAGE, INC. 5 2.73% $14,668
HOMESIDE FINANCIAL, LLC 5 2.80% $9,018
Manufacturers and Traders Trust Company 5 3.05% $6,779
LOANPAL, LLC 4 2.47% $6,960
BNC National Bank 4 2.25% $6,911
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 2.84% $11,686
InterContinental Capital Group, Inc 4 2.50% $5,087
BAY CAPITAL MORTGAGE CORPORATION 4 2.47% $4,569
Citizens Bank 4 2.75% $8,767
SOVEREIGN LENDING GROUP INCORPORATED 3 2.54% $7,885
CHURCHILL MORTGAGE CORPORATION 3 2.42% $3,172
CONTOUR MORTGAGE CORPORATION 3 2.58% $13,233
First Federal Bank 3 2.83% $10,367
First Guaranty Mortgage Corporation 3 2.38% $2,527
Fulton Bank 3 3.21% $8,727
George Mason Mortgage, LLC 3 2.37% $4,213
Magnolia Bank 3 2.42% $9,992
Mid-Continent Funding, Inc. 3 2.75% $11,473
North American Savings Bank, F.S.B. 3 2.42% $1,925
PIKE CREEK MORTGAGE SERVICES, INC. 3 3.50% $4,535
Plains Commerce Bank 3 2.33% $7,141
Credence Funding Corporation 2 2.25% $2,330
Evolve Bank & Trust 2 2.88% $6,418
APEX HOME LOANS, INC. 2 2.81% $9,315
HOMESPIRE MORTGAGE CORPORATION 2 2.38% $6,954
Presidential Bank, FSB 2 2.31% $14,399
NBKC BANK 2 2.44% $1,753
Ameris Bank 2 2.75% $4,011
ON Q FINANCIAL, INC. 2 2.63% $6,507
NASA Federal Credit Union 2 2.50% $11,781
Truist Bank 2 2.44% $27,589
Equity Prime Mortgage LLC 2 3.56% $6,164
ALLIED MORTGAGE GROUP, INC. 2 2.44% $13,806
EMM LOANS LLC 2 2.75% $6,212
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.25% $4,134
DIRECT MORTGAGE LOANS, LLC 2 3.06% $7,148
Lakeview Community Capital, LLC 2 2.69% $1,383
Flagstar Bank, FSB 2 2.39% $4,826
Northpointe Bank 2 2.94% $6,260
NORWICH COMMERCIAL GROUP, INC. 2 2.69% $11,020
SOUTHWEST STAGE FUNDING, LLC 2 2.75% $5,809
Paramount Bank 1 2.50% $14,728
Paramount Residential Mortgage Group, Inc. 1 2.63% $5,370
Commerce Home Mortgage, Inc. 1 2.25% $3,335
CAPITAL CENTER, L.L.C. 1 2.63% $0
Wyndham Capital Mortgage, Inc. 1 2.25% $2,652
ZILLOW HOME LOANS, LLC 1 2.75% $3,035
BOKF 1 2.88% $9,683
PLAZA HOME MORTGAGE, INC. 1 3.88% $20,491
Bank of England 1 2.50% $15,669
Atlantic Union Bank 1 2.75% $5,749
Prime Choice Funding Inc. 1 1.88% $6,040
Atlantic Home Loans, Inc. 1 3.13% $1,399
Princeton Mortgage Corporation 1 2.75% $3,951
Atlantic Coast Mortgage, LLC 1 2.25% $9,529
RELIANCE FIRST CAPITAL, LLC 1 3.00% $5,860
RESIDENTIAL BANCORP. 1 2.63% $13,151
ARC HOME LLC 1 2.25% $1,842
Sierra Pacific Mortgage Company, Inc. 1 2.75% $18,342
1ST PREFERENCE MORTGAGE CORP. 1 3.25% $7,069
Strong Home Mortgage, LLC 1 2.63% $3,012
T2 FINANCIAL LLC 1 4.25% $4,384
AmRes Corporation 1 2.75% $6,252
The Union Bank Company 1 2.50% $4,275
AMCAP MORTGAGE, LTD. 1 4.00% $9,945
Triumph Bank 1 2.25% $2,239
UNION HOME MORTGAGE CORP. 1 2.25% $4,226
Advisors Mortgage Group, L.L.C. 1 4.50% $4,290
VAN DYK MORTGAGE CORPORATION 1 2.75% $0
ACADEMY MORTGAGE CORPORATION 1 3.25% $3,614
LADERA LENDING, INC. 1 3.25% $2,600
LEADERONE FINANCIAL CORPORATION 1 2.75% $5,027
LENDING 3, INC. 1 2.75% $10,298
INTERCOASTAL MORTGAGE COMPANY 1 2.50% $24,771
Ixonia Bank 1 2.38% $3,278
Independent Bank 1 3.00% $7,770
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.25% $20,622
Huntingdon Valley Bank 1 2.25% $3,609
MEMBER FIRST MORTGAGE, LLC 1 2.75% $5,219
GENEVA FINANCIAL, LLC 1 3.25% $5,777
WesBanco Bank, Inc. 1 2.75% $18,680
FIRST SAVINGS MORTGAGE CORPORATION 1 2.75% $12,307
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $7,859
First Savings Bank 1 2.25% $4,657
First International Bank & Trust 1 3.25% $2,746
First Heritage Mortgage, LLC 1 2.88% $10,921
First Federal Bank of Kansas City 1 3.13% $12,833
NBH Bank 1 2.50% $10,301
NETWORK CAPITAL FUNDING CORPORATION 1 2.25% $8,159
West Town Bank & Trust 1 3.00% $9,772
Community First National Bank 1 2.75% $2,857
OCEANSIDE MORTGAGE COMPANY 1 2.49% $1,018
OCMBC, INC. 1 3.75% $4,932
OVM FINANCIAL, INC. 1 3.88% $0

The top Salisbury VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 154 VA loans originated. Their average total fees are $5,512, which is $1,078 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Salisbury VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,844), FREEDOM MORTGAGE CORPORATION ($3,230), VILLAGE CAPITAL & INVESTMENT LLC ($3,373), NEWREZ LLC ($3,814) and PENTAGON FEDERAL CREDIT UNION ($3,900).

The lowest rate Salisbury VA lenders (with over 10 loans originated) are ACCELERATE MORTGAGE, LLC (2.09%), VILLAGE CAPITAL & INVESTMENT LLC (2.28%), Low VA Rates, LLC (2.33%), PENTAGON FEDERAL CREDIT UNION (2.37%) and PENNYMAC LOAN SERVICES, LLC (2.37%).

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.