Santa Clara County Mortgage Rates, Fees & Info
San Jose, CALEI: 549300MD3D3OC2CSGX39
Tax ID: 94-1509091
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Mortgage Data
Review & Overview
Santa Clara County is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Santa Clara County has a high proportion of conventional loans. Their top markets by origination volume include: San Jose, San Francisco, Stockton, Sacramento, and Santa Cruz among others. We have data for 12 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 a low 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 about average 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
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Originations
276Origination Dollar Volume (All Markets)
$121,310,000Awards
SANTA CLARA COUNTY - 2020
SANTA CLARA COUNTY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 217 | $98,005,000 | $451,636 | $2,725 | 3.54% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 21 | $10,495,000 | $499,762 | $3,088 | 3.56% |
| STOCKTON, CA (FHA|USDA|VA) | 15 | $5,815,000 | $387,667 | $2,895 | 3.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 7 | $2,395,000 | $342,143 | $2,836 | 3.18% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 4 | $1,990,000 | $497,500 | $2,901 | 3.13% |
| MODESTO, CA (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $2,760 | 3.50% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,699 | 3.50% |
| MERCED, CA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,552 | 3.56% |
| Sonora, CA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,499 | 3.56% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,420 | 3.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.75% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 5.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 240 | $117,580,000 | $489,917 | $2,766 | 3.44% |
| HELOC | 36 | $3,730,000 | $103,611 | n/a | 4.15% |
For 2020, Santa Clara County's most frequently originated type of loan was Conventional, with 240 originations. Their 2nd most popular type was HELOC, with 36 originations.
Loan Reason
For 2020, Santa Clara County's most frequently cited loan purpose was Refi, with 119 originations. The 2nd most popular reason was Cash Out Refi, with 100 originations.
Loan Duration/Length
For 2020, Santa Clara County's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was Other, with 37 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 240 | $117,580,000 | $489,917 |
Santa Clara County's average total fees were $2,864, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 221 | $101,265,000 | $458,213 |
| 2.5-3% | 34 | $12,940,000 | $380,588 |
| 4-5% | 11 | $6,025,000 | $547,727 |
| 5-6% | 10 | $1,080,000 | $108,000 |
During 2020, Santa Clara County's average interest rate for loans was 3.50%, while their most frequently originated rate bucket for loans was 3-4%, with 221 originations.
Loan Sizing
2020 saw Santa Clara County place emphasis on $400k-600k loans with 91 originations, totaling $45,005,000 in origination value.
Applicant Income
Santa Clara County lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $150k-250k, with 90 originations.
Applicant Debt to Income Ratio
Santa Clara County lent most frequently to those with DTI ratios of 30-36%, with 64 originations. The next most common DTI ratio? 20-30%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.93%
Santa Clara County has an average approval rate.
Pick Rate
Approvals leading to origination-2.17%
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 | 276 | $121,310,000 | $439,529 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 276 | $121,310,000 | $439,529 |