Santa Clara County Mortgage Rates, Fees & Info
San Jose, CALEI: 549300MD3D3OC2CSGX39
Tax ID: 94-1509091
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Santa Clara County is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Santa Clara County has a high proportion of conventional loans. Their top markets by origination volume include: San Jose, San Francisco, Santa Cruz, Stockton, and Merced among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Santa Clara County has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Santa Clara County is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/22/24 |
| 30 Year Conventional Purchase | 5.99% | 4/22/24 |
| 30 Year Conventional Refi | 6.13% | 4/22/24 |
| 30 Year Cash-out Refi | 6.33% | 4/22/24 |
| 15 Year Conventional Purchase | 7.07% | 4/22/24 |
| 15 Year Conventional Refi | 6.13% | 4/22/24 |
| 15 Year Cash-out Refi | 6.13% | 4/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Santa Clara County Mortgage Calculator
Your Estimates
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This is not an official calculator from Santa Clara County. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
176Origination Dollar Volume (All Markets)
$29,460,000Relative Rate
Santa Clara County's average 30 year fixed mortgage rate was
6.42%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.06%.
Relative Fees (Closing Costs)
Santa Clara County's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,251.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 116 | $20,290,000 | $174,914 | $1,262 | 8.30% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 14 | $2,880,000 | $205,714 | $2,628 | 8.33% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $5,127 | 8.24% |
| STOCKTON, CA (FHA|USDA|VA) | 11 | $1,715,000 | $155,909 | $1,402 | 8.31% |
| MERCED, CA (FHA|USDA|VA) | 6 | $740,000 | $123,333 | $2,288 | 7.97% |
| MODESTO, CA (FHA|USDA|VA) | 8 | $470,000 | $58,750 | $0 | 8.79% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,658 | 6.38% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $50 | 8.63% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $33 | 8.57% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,377 | 6.00% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 8.72% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 9.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.50% |
| MADERA, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.17% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against SANTA CLARA COUNTY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 774
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 93 | $18,565,000 | $199,624 | $1,404 | 7.94% |
| HELOC | 83 | $10,895,000 | $131,265 | n/a | 8.72% |
For 2023, Santa Clara County's most frequently originated type of loan was Conventional, with 93 originations. Their 2nd most popular type was HELOC, with 83 originations.
Loan Reason
For 2023, Santa Clara County's most frequently cited loan purpose was Home Improvement, with 81 originations. The 2nd most popular reason was Other, with 56 originations.
Loan Duration/Length
For 2023, Santa Clara County's most frequently cited loan duration was Other, with 83 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
Santa Clara County's average total fees were $6,251, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 77 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 136 | $16,390,000 | $120,515 |
| 7-8% | 22 | $3,560,000 | $161,818 |
| 6-7% | 10 | $5,220,000 | $522,000 |
| 5-6% | 8 | $4,290,000 | $536,250 |
During 2023, Santa Clara County's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was Over 8%, with 136 originations.
Loan Sizing
2023 saw Santa Clara County place emphasis on $100k-200k loans with 68 originations, totaling $8,440,000 in origination value.
Applicant Income
Santa Clara County lent most frequently to those with incomes in the $150k-250k range, with 77 originations. The second most popular income band? $100k-150k, with 40 originations.
Applicant Debt to Income Ratio
Santa Clara County lent most frequently to those with DTI ratios of 30-36%, with 34 originations. The next most common DTI ratio? 50-60%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.23%
Santa Clara County has a below average approval rate.
Pick Rate
Approvals leading to origination55.11%
Santa Clara County has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 176 | $29,460,000 | $167,386 |