Salisbury VA Loans

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 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.