Santa Clara County Mortgage Rates, Fees & Info

San Jose, CA

LEI: 549300MD3D3OC2CSGX39

Tax ID: 94-1509091

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: San Jose, San Francisco, Stockton, Santa Cruz, and Salinas among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Santa Clara County has an above 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 5.99% 12/16/24
    30 Year Conventional Refi 6.13% 12/16/24
    30 Year Cash-out Refi 6.33% 12/16/24
    15 Year Conventional Purchase 7.07% 12/16/24
    15 Year Conventional Refi 6.13% 12/16/24
    15 Year Cash-out Refi 6.13% 12/16/24
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Santa Clara County. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    350

    Origination Dollar Volume (All Markets)

    $128,280,000

    Awards

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

    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) 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.

    Their top states include:
  • California (FHA|USDA|VA)

    • 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.

    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    CommonWealth Central Credit Union
    Similarity Rank: 1428
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 2191
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 2715
    Valley First Credit Union
    Similarity Rank: 2814
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 2895
    S&S Financial
    Similarity Rank: 3196
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 3200
    SANTA CLARA COUNTY
    Similarity Rank: 3420
    WINNPOINTE CORPORATION
    Similarity Rank: 3621

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 235 $113,525,000 $483,085 $2,980 3.19%
    HELOC 115 $14,755,000 $128,304 n/a 3.95%

    For 2021, Santa Clara County's most frequently originated type of loan was Conventional, with 235 originations. Their 2nd most popular type was HELOC, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Santa Clara County's most frequently cited loan purpose was Home Improvement, with 116 originations. The 2nd most popular reason was 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 2021, Santa Clara County's most frequently cited loan duration was 30 Year, with 173 originations. The 2nd most popular length was Other, with 115 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 235 $113,525,000 $483,085

    Santa Clara County's average total fees were $3,220, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.10%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    91.01%

    Santa Clara County has an average approval rate.

    Pick Rate

    Approvals leading to origination
    48.29%

    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%