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 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 6.83% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Salisbury's average VA mortgage closing costs are $6,082.

The average rate for the prior week (2022-11-25) was 6.77% and one month ago for the week of 2022-10-28, the average rate was 6.86%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.52%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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
NAVY FEDERAL CREDIT UNION 35 2.50% $6,369
USAA Federal Savings Bank 35 2.81% $4,974
LOANDEPOT.COM, LLC 34 2.64% $4,745
DHI MORTGAGE COMPANY, LTD. 29 2.72% $7,230
NVR Mortgage Finance, Inc. 29 2.89% $7,999
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
VILLAGE CAPITAL MORTGAGE 22 2.28% $3,373
LAKEVIEW LOAN SERVICING, LLC 22 2.44% $2,844
UNITED WHOLESALE MORTGAGE, LLC 20 2.51% $9,314
HOME POINT FINANCIAL CORPORATION 20 2.61% $7,383
FIRST HOME MORTGAGE CORPORATION 18 2.83% $4,369
First Home Bank 17 2.81% $8,800
PENTAGON FEDERAL CREDIT UNION 17 2.37% $3,900
Prosperity Home Mortgage, LLC 17 2.69% $5,239
Barrington Bank & Trust Company, N.A. 17 2.80% $6,058
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
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
Nations Lending Corporation 11 2.88% $6,254
ACCELERATE MORTGAGE, LLC 11 2.09% $6,048
NFM, INC. 10 2.80% $10,375
TIDEWATER MORTGAGE SERVICES, INC. 10 3.38% $7,204
Carrington Mortgage Services, LLC 9 3.03% $4,031
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 9 2.94% $8,710
Towne Bank 9 2.57% $9,759
GUARANTEED RATE, INC. 9 2.72% $5,542
CROSSCOUNTRY MORTGAGE, LLC 8 3.11% $13,036
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 2.98% $9,887
PNC Bank 8 2.66% $4,795
CLEARPATH LENDING 8 2.31% $3,818
EAGLE HOME MORTGAGE, LLC 8 3.08% $8,514
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
RESIDENTIAL MORTGAGE SERVICES, INC. 6 2.67% $7,583
BROKER SOLUTIONS, INC. 6 2.98% $4,520
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.75% $9,389
HOMESIDE FINANCIAL, LLC 5 2.80% $9,018
NP, Inc. 5 2.25% $4,109
M&T Bank 5 3.05% $6,779
PLANET HOME LENDING, LLC 5 2.68% $5,389
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.40% $10,796
AMERICAN FINANCIAL NETWORK, INC. 5 2.65% $6,684
CMG MORTGAGE, INC. 5 2.73% $14,668
LOANPAL, LLC 4 2.47% $6,960
Citizens Bank 4 2.75% $8,767
InterContinental Capital Group, Inc 4 2.50% $5,087
BNC National Bank 4 2.25% $6,911
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 2.84% $11,686
BAY CAPITAL MORTGAGE CORPORATION 4 2.47% $4,569
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 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
WesBanco Bank, Inc. 1 2.75% $18,680
GENEVA FINANCIAL, LLC 1 3.25% $5,777
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $7,859
FIRST SAVINGS MORTGAGE CORPORATION 1 2.75% $12,307
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 MORTGAGE ($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 MORTGAGE (2.28%), Low VA Rates, LLC (2.33%), PENTAGON FEDERAL CREDIT UNION (2.37%) and PENNYMAC LOAN SERVICES, LLC (2.37%).


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%) $420,095 (4.9%) 1.07 3,992
2019-03-01 $322,143 (5.6%) $431,612 (8.0%) 1.05 4,066
2019-04-01 $326,750 (4.1%) $443,309 (8.4%) 1.04 4,146
2019-05-01 $332,450 (5.6%) $447,679 (8.1%) 1.04 4,199
2019-06-01 $335,000 (6.4%) $447,003 (8.3%) 1.05 4,211
2019-07-01 $336,129 (5.5%) $448,194 (6.6%) 1.05 4,056
2019-08-01 $336,427 (5.5%) $447,867 (6.2%) 1.06 3,951
2019-09-01 $335,568 (5.5%) $447,118 (5.7%) 1.07 3,915
2019-10-01 $334,973 (4.7%) $447,196 (4.4%) 1.08 3,875
2019-11-01 $333,090 (4.1%) $447,936 (4.4%) 1.09 3,703
2019-12-01 $329,900 (3.4%) $440,223 (5.1%) 1.10 3,464
2020-01-01 $329,900 (5.8%) $439,771 (6.9%) 1.10 3,328
2020-02-01 $330,650 (4.2%) $447,222 (6.5%) 1.08 3,364
2020-03-01 $339,225 (5.3%) $452,598 (4.9%) 1.06 3,391
2020-04-01 $338,420 (3.6%) $447,791 (1.0%) 1.06 3,407
2020-05-01 $339,990 (2.3%) $453,547 (1.3%) 1.03 3,293
2020-06-01 $347,988 (3.9%) $466,709 (4.4%) 1.02 2,891
2020-07-01 $349,450 (4.0%) $479,404 (7.0%) 1.01 2,518
2020-08-01 $354,900 (5.5%) $496,436 (10.8%) 1.02 2,232
2020-09-01 $355,948 (6.1%) $503,316 (12.6%) 1.02 2,045
2020-10-01 $356,990 (6.6%) $514,087 (15.0%) 1.02 1,892
2020-11-01 $357,400 (7.3%) $516,409 (15.3%) 1.04 1,750
2020-12-01 $358,500 (8.7%) $514,033 (16.8%) 1.07 1,623
2021-01-01 $359,755 (9.1%) $515,505 (17.2%) 1.07 1,449
2021-02-01 $367,320 (11.1%) $525,329 (17.5%) 1.07 1,253
2021-03-01 $381,175 (12.4%) $534,203 (18.0%) 1.08 1,208
2021-04-01 $390,273 (15.3%) $556,483 (24.3%) 1.06 1,168
2021-05-01 $399,900 (17.6%) $564,057 (24.4%) 1.06 1,119
2021-06-01 $410,900 (18.1%) $565,449 (21.2%) 1.08 1,239
2021-07-01 $419,900 (20.2%) $555,836 (15.9%) 1.11 1,327
2021-08-01 $424,950 (19.7%) $561,008 (13.0%) 1.13 1,284
2021-09-01 $424,000 (19.1%) $557,837 (10.8%) 1.13 1,310
2021-10-01 $438,000 (22.7%) $569,206 (10.7%) 1.17 1,330
2021-11-01 $440,900 (23.4%) $570,161 (10.4%) 1.18 1,248
2021-12-01 $446,950 (24.7%) $572,832 (11.4%) 1.21 1,091
2022-01-01 $458,000 (27.3%) $595,468 (15.5%) 1.24 938
2022-02-01 $487,448 (32.7%) $614,657 (17.0%) 1.27 954
2022-03-01 $489,450 (28.4%) $607,137 (13.7%) 1.23 1,045
2022-04-01 $500,000 (28.1%) $643,879 (15.7%) 1.19 1,075
2022-05-01 $499,947 (25.0%) $655,781 (16.3%) 1.14 1,194
2022-06-01 $499,990 (21.7%) $638,162 (12.9%) 1.11 1,326
2022-07-01 $509,450 (21.3%) $662,421 (19.2%) 1.15 1,465
2022-08-01 $499,945 (17.7%) $661,773 (18.0%) 1.16 1,498
2022-09-01 $499,950 (17.9%) $662,027 (18.7%) 1.17 1,553
2022-10-01 $504,950 (15.3%) $654,469 (15.0%) 1.19 1,648
2022-11-01 $499,945 (13.4%) $649,311 (13.9%) 1.20 1,650
Salisbury's median listing price for 2022-11-01 was $499,945, a difference of $59,045 (13.4%) versus the prior year and $-5,005 versus the prior month.

Salisbury's median listing price comes in at 120% of the national average.

Salisbury's average listing price for 2022-11-01 was $649,311, a difference of $79,150 (13.9%) versus the prior year and $-5,158 versus the prior month.

For the 2022-11-01 period, Salisbury had 1,650 MLS listings, a difference of 2 listings (0%) versus the prior month and 402 listings (32%) 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 1,852 sqft
2018-09-01 110 days 1,841 sqft
2018-10-01 108 days 1,840 sqft
2018-11-01 108 days 1,832 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
2019-03-01 113 days 1,821 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 1,869 sqft
2019-08-01 103 days 1,882 sqft
2019-09-01 103 days 1,880 sqft
2019-10-01 103 days 1,879 sqft
2019-11-01 103 days 1,866 sqft
2019-12-01 115 days 1,856 sqft
2020-01-01 121 days 1,855 sqft
2020-02-01 114 days 1,861 sqft
2020-03-01 98 days 1,873 sqft
2020-04-01 92 days 1,873 sqft
2020-05-01 105 days 1,891 sqft
2020-06-01 113 days 1,925 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 92 days 1,848 sqft
2021-03-01 77 days 1,861 sqft
2021-04-01 66 days 1,857 sqft
2021-05-01 57 days 1,896 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 1,868 sqft
2021-10-01 54 days 1,881 sqft
2021-11-01 54 days 1,874 sqft
2021-12-01 68 days 1,875 sqft
2022-01-01 86 days 1,891 sqft
2022-02-01 73 days 1,962 sqft
2022-03-01 46 days 1,966 sqft
2022-04-01 47 days 1,972 sqft
2022-05-01 49 days 2,000 sqft
2022-06-01 45 days 2,009 sqft
2022-07-01 51 days 2,016 sqft
2022-08-01 57 days 2,025 sqft
2022-09-01 60 days 2,044 sqft
2022-10-01 63 days 2,049 sqft
2022-11-01 64 days 2,016 sqft
Salisbury's median listing age (time on market) for 2022-11-01 was 64 days. This is 20% longer than the same period one year ago.

Salisbury's median square footage for active listings during the 2022-11-01 period was 2,016 sqft. One year prior, the average listing was 1,874 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.