Salisbury VA Loan Rates, Closing Costs & Stats

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 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 6.97% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.89% and one month ago for the week of 2024-04-19, the average rate was 7.16%.

The average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-05-24, the average rate was 7.05%.

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
2024-04-01 $501,200 (-5.4%) $657,472 (-2.6%) 1.17 1,984
Salisbury's median listing price for 2024-04-01 was $501,200, a difference of $-28,700 (-5.4%) versus the prior year and $1,950 versus the prior month.

Salisbury's median listing price comes in at 117% of the national average.

Salisbury's average listing price for 2024-04-01 was $657,472, a difference of $-17,405 (-2.6%) versus the prior year and $16,026 versus the prior month.

For the 2024-04-01 period, Salisbury had 1,984 MLS listings, a difference of 107 listings (6%) versus the prior month and 591 listings (42%) 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 1,859 sqft
2024-04-01 51 days 1,932 sqft
Salisbury's median listing age (time on market) for 2024-04-01 was 51 days. This is -7% shorter than the same period one year ago.

Salisbury's median square footage for active listings during the 2024-04-01 period was 1,932 sqft. One year prior, the average listing was 2,023 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.