Santa Clara County Mortgage Rates, Fees & Info
San Jose, CALEI: 549300MD3D3OC2CSGX39
Tax ID: 94-1509091
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Santa Clara County is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Refi loans. Santa Clara County has a high proportion of conventional loans. Their top markets include San Jose, San Francisco, Stockton, Santa Cruz, and Salinas among others. Santa Clara County has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Santa Clara County is typically a low fee lendor.Originations
350Origination Dollar Volume (All Markets)
$128,280,000Awards
SANTA CLARA COUNTY - 2021
SANTA CLARA COUNTY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Santa Clara County's average 30 year fixed rate mortgage of loans were
3.1%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.05%.
Relative Fees
Santa Clara County's average total fees for a 30 year fixed rate
mortgage are $3,220.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 255 | $97,675,000 | $383,039 | $2,998 | 3.39% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 31 | $10,385,000 | $335,000 | $2,881 | 3.69% |
| STOCKTON, CA (FHA|USDA|VA) | 18 | $7,030,000 | $390,556 | $2,807 | 3.61% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 12 | $3,990,000 | $332,500 | $3,121 | 3.26% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,805,000 | $601,667 | $4,632 | 3.50% |
| MERCED, CA (FHA|USDA|VA) | 7 | $1,415,000 | $202,143 | $2,502 | 3.55% |
| MODESTO, CA (FHA|USDA|VA) | 6 | $1,400,000 | $233,333 | $2,632 | 3.75% |
| Outside of Metro Areas | 5 | $865,000 | $173,000 | $1,569 | 4.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,128 | 3.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,631 | 2.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,729 | 3.38% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,390 | 2.88% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,801 | 3.56% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,804 | 2.88% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,707 | 2.88% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,095 | 3.50% |
| MADERA, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,793 | 2.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.75% |
Santa Clara County's top markets include San Jose, San Francisco, Stockton, Santa Cruz, and Salinas among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 350 | $128,280,000 | $366,514 | $2,980 | 3.44% |
For the 2021 period, Santa Clara County's most frequently originated loan type of loans were Conventional, with 350 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 116 | $26,810,000 | $231,121 | $2,456 | 3.84% |
| Cash Out Refi | 91 | $46,385,000 | $509,725 | $3,061 | 3.17% |
| Refi | 83 | $37,025,000 | $446,084 | $3,053 | 2.94% |
| Other | 36 | $3,770,000 | $104,722 | $0 | 4.15% |
| Home Purchase | 24 | $14,290,000 | $595,417 | $3,937 | 3.19% |
For the 2021, Santa Clara County's most frequently cited loan purpose of loans were Home Improvement, with 116 originations. The 2nd most popular reason of loans were Cash Out Refi, with 91 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 173 | $94,535,000 | $546,445 | $3,220 | 3.10% |
| Other | 115 | $14,755,000 | $128,304 | $0 | 3.95% |
| 20 Year | 29 | $11,775,000 | $406,034 | $2,928 | 2.91% |
| 15 Year | 26 | $6,260,000 | $240,769 | $2,017 | 3.73% |
| 10 Year | 5 | $895,000 | $179,000 | $1,182 | 4.38% |
| 5 Year | 2 | $60,000 | $30,000 | $0 | 5.25% |
For the 2021, Santa Clara County's most frequently cited loan length of loans were 30 Year, with 173 originations. The 2nd most popular length of loans were Other, with 115 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 235 | $113,525,000 | $483,085 |
$3,220 of loans were Santa Clara County's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 235 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 192 | $71,060,000 | $370,104 |
| 2.5-3% | 112 | $50,840,000 | $453,929 |
| 4-5% | 32 | $5,230,000 | $163,438 |
| 5-6% | 13 | $865,000 | $66,538 |
| <2.5% | 1 | $285,000 | $285,000 |
During 2021, Santa Clara County's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 3-4%, with 192 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 85 | $23,095,000 | $271,706 | $2,971 | 3.31% |
| $600k-1MM | 68 | $50,110,000 | $736,912 | $3,298 | 3.09% |
| $100k-200k | 67 | $9,065,000 | $135,299 | $2,490 | 3.69% |
| $400k-600k | 67 | $32,825,000 | $489,925 | $3,154 | 3.04% |
| $100,000 or less | 54 | $3,120,000 | $57,778 | $228 | 4.28% |
| $1MM+ | 9 | $10,065,000 | $1,118,333 | $4,321 | 3.33% |
2021 saw Santa Clara County place emphasis on $200k-400k loans with 85 originations, totaling $23,095,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 130 | $58,950,000 | $453,462 | $3,141 | 3.45% |
| $100k-150k | 92 | $31,140,000 | $338,478 | $2,896 | 3.43% |
| $250k+ | 44 | $19,400,000 | $440,909 | $3,084 | 3.60% |
| $75k-100k | 42 | $11,800,000 | $280,952 | $2,979 | 3.36% |
| $50k-75k | 32 | $5,790,000 | $180,938 | $2,569 | 3.32% |
| $50k or less | 10 | $1,200,000 | $120,000 | $2,759 | 3.43% |
Santa Clara County lent most frequently to those with incomes in the $150k-250k range, with 130 originations. The second most popular income band? $100k-150k, with 92 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 87 | $29,785,000 | $342,356 | $2,858 | 3.43% |
| 30-36% | 80 | $32,970,000 | $412,125 | $3,158 | 3.35% |
| <20% | 39 | $10,545,000 | $270,385 | $2,804 | 3.42% |
| 37% | 15 | $3,595,000 | $239,667 | $3,008 | 3.63% |
| 38% | 14 | $3,590,000 | $256,429 | $2,837 | 3.53% |
| 36% | 13 | $6,985,000 | $537,308 | $3,254 | 2.97% |
| 43% | 12 | $6,310,000 | $525,833 | $3,238 | 3.29% |
| 44% | 12 | $3,630,000 | $302,500 | $2,805 | 3.67% |
| 41% | 12 | $3,120,000 | $260,000 | $3,118 | 3.57% |
| 47% | 11 | $4,785,000 | $435,000 | $2,877 | 3.67% |
| 42% | 9 | $3,605,000 | $400,556 | $3,133 | 3.26% |
| 45% | 9 | $4,265,000 | $473,889 | $3,187 | 3.56% |
| 39% | 8 | $1,610,000 | $201,250 | $1,579 | 3.98% |
| 40% | 8 | $5,190,000 | $648,750 | $3,116 | 3.31% |
| 48% | 7 | $2,905,000 | $415,000 | $3,409 | 3.14% |
| 46% | 7 | $1,495,000 | $213,571 | $2,197 | 4.09% |
| 49% | 4 | $2,560,000 | $640,000 | $3,915 | 3.31% |
| 50-60% | 2 | $1,130,000 | $565,000 | $2,326 | 3.81% |
| >60% | 1 | $205,000 | $205,000 | $0 | 3.75% |
Santa Clara County lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 80 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 157 | $54,715,000 | $348,503 | $2,888 | 3.48% |
| Not provided | 117 | $46,065,000 | $393,718 | $3,109 | 3.34% |
| Asian | 37 | $10,955,000 | $296,081 | $3,010 | 3.52% |
| Black | 22 | $10,290,000 | $467,727 | $3,155 | 3.30% |
| American Indian | 9 | $3,455,000 | $383,889 | $3,086 | 3.47% |
| Native Hawaiian | 3 | $2,365,000 | $788,333 | $3,029 | 3.04% |
| Filipino | 3 | $235,000 | $78,333 | $0 | 4.50% |
| Chinese | 1 | $105,000 | $105,000 | $0 | 5.50% |
| Vietnamese | 1 | $95,000 | $95,000 | $0 | 4.25% |
Approval Rates
Total approvals of all applications83.37%
Santa Clara County has a below average approval rate.
Pick Rate
Approvals leading to origination50.12%
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 | 350 | $128,280,000 | $366,514 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 350 | $128,280,000 | $366,514 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 66 | $22,930,000 | $347,424 | $3,033 | 3.07% |
| 40-60% | 69 | $37,395,000 | $541,957 | $3,104 | 3.07% |
| 60-80% | 57 | $38,205,000 | $670,263 | $3,419 | 3.08% |
| 80-100% | 18 | $12,080,000 | $671,111 | $3,368 | 3.32% |
| Under 20% | 140 | $17,670,000 | $126,214 | $1,617 | 3.96% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SANDY SPRING BANCORP, INC. | FHA mortgage | Closing on a mortgage | 1 | 20.0% |
| SANDY SPRING BANCORP, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| SANDY SPRING BANCORP, INC. | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 20.0% |
| SANDY SPRING BANCORP, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| SANDY SPRING BANCORP, INC. | Other type of mortgage | Closing on a mortgage | 1 | 20.0% |
