Santa Clara County Mortgage Rates, Fees & Info

San Jose, CA

LEI: 549300MD3D3OC2CSGX39

Tax ID: 94-1509091

5 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

350

Origination Dollar Volume (All Markets)

$128,280,000

Awards

SANTA CLARA COUNTY 30 Year Conventional Loans silver
Show all (1) awards

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 applications
83.37%

Santa Clara County has a below average approval rate.

Pick Rate

Approvals leading to origination
50.12%

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%