Salinas VA Loan Rates, Closing Costs & Stats

SALINAS, CA

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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.

    Salinas's 34 lenders originated 118 VA loans during 2024. The total origination value was $88,760,000, with an average VA loan value of $752,203.

    Salinas VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Salinas averaged 6.77% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Salinas's average VA mortgage closing costs are $8,898.

    The average rate for the prior week (2025-07-11) was 6.86% and one month ago for the week of 2025-06-13, the average rate was 6.63%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.69%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Salinas 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 Salinas level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 24 5.87% $11,596
    QUICKEN LOANS, LLC 11 5.94% $13,871
    CROSSCOUNTRY MORTGAGE, LLC 11 5.90% $19,348
    GUARANTEED RATE, INC. 10 5.81% $8,956
    Mortgage Research Center, LLC 7 6.30% $12,352
    FREEDOM MORTGAGE CORPORATION 5 6.10% $15,641
    LOANDEPOT.COM, LLC 5 5.75% $6,603
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.25% $6,729
    PENNYMAC LOAN SERVICES, LLC 3 5.58% $10,291
    NEWREZ LLC 3 5.88% $11,357
    Performance Financial, Inc. 2 6.56% $5,437
    GUARANTEED RATE AFFINITY, LLC 2 6.31% $9,914
    BROKER SOLUTIONS, INC. 2 6.44% $19,090
    SUMMIT FUNDING, INC. 2 6.25% $7,143
    NAVY FEDERAL CREDIT UNION 2 5.63% $4,865
    TOP FLITE FINANCIAL, INC. 1 6.75% $695
    USAA Federal Savings Bank 1 6.63% $16,592
    U.S. Bank 1 6.25% $4,741
    American Mortgage & Equity Consultants, Inc. 1 6.25% $15,148
    VILLAGE CAPITAL MORTGAGE 1 5.75% $23,239
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $31,193
    BAY-VALLEY MORTGAGE GROUP 1 6.13% $16,270
    CMG MORTGAGE, INC. 1 5.88% $9,966
    Commerce Home Mortgage, Inc. 1 6.63% $9,970
    DIGNIFIED HOME LOANS, LLC 1 6.99% $18,160
    Flagstar Bank, FSB 1 5.68% $0
    INTELLILOAN, INC. 1 5.62% $700
    NBKC BANK 1 5.63% $3,498
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $4,209
    Pacific Lending LLC 1 6.13% $24,647
    Paramount Residential Mortgage Group, Inc. 1 5.63% $6,593
    S1L, Inc. 1 6.25% $46,579
    Sierra Pacific Mortgage Company, Inc. 1 5.75% $23,680
    The Federal Savings Bank 1 6.75% $17,969

    The top Salinas VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 VA loans originated. Their average total fees are $11,596, which is $2,275 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Salinas VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($8,956), UNITED WHOLESALE MORTGAGE, LLC ($11,596), QUICKEN LOANS, LLC ($13,871), CROSSCOUNTRY MORTGAGE, LLC ($19,348) and .

    The lowest rate Salinas VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. (5.81%), UNITED WHOLESALE MORTGAGE, LLC (5.87%), CROSSCOUNTRY MORTGAGE, LLC (5.90%), QUICKEN LOANS, LLC (5.94%) and .

    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.