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
  • 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 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, Santa Cruz, and Modesto among others. We have data for 19 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% 5/4/24
    30 Year Conventional Purchase 5.99% 5/4/24
    30 Year Conventional Refi 6.13% 5/4/24
    30 Year Cash-out Refi 6.33% 5/4/24
    15 Year Conventional Purchase 7.07% 5/4/24
    15 Year Conventional Refi 6.13% 5/4/24
    15 Year Cash-out Refi 6.13% 5/4/24
    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

    347

    Origination Dollar Volume (All Markets)

    $75,665,000

    Awards

    SANTA CLARA COUNTY 30 Year Conventional Loans gold SANTA CLARA COUNTY 30 Year Conventional Loans gold
    Show all (2) 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) 242 $52,610,000 $217,397 $1,755 5.12%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 23 $6,025,000 $261,957 $3,572 5.05%
    STOCKTON, CA (FHA|USDA|VA) 20 $4,350,000 $217,500 $1,870 5.24%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 11 $4,325,000 $393,182 $2,331 5.23%
    MODESTO, CA (FHA|USDA|VA) 13 $2,115,000 $162,692 $1,610 5.43%
    MERCED, CA (FHA|USDA|VA) 7 $1,485,000 $212,143 $1,700 5.18%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 10 $1,120,000 $112,000 $1,220 5.59%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $925,000 $925,000 $4,032 3.75%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $595,000 $595,000 $5,104 5.25%
    Outside of Metro Areas 3 $455,000 $151,667 $1,735 6.58%
    FRESNO, CA (FHA|USDA|VA) 2 $450,000 $225,000 $1,378 5.56%
    Sonora, CA (FHA|USDA|VA) 3 $335,000 $111,667 $1,619 5.50%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $215,000 $215,000 $2,783 2.88%
    SALINAS, CA (FHA|USDA|VA) 3 $215,000 $71,667 $0 5.00%
    MADERA, CA (FHA|USDA|VA) 2 $130,000 $65,000 $0 6.63%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.13%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $100,000 $50,000 $0 6.19%
    NAPA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $55,000 $55,000 $100 5.88%
    Santa Clara County's top markets include San Jose, San Francisco, Stockton, Santa Cruz, and Modesto 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.

    SAFEAMERICA CREDIT UNION
    Similarity Rank: 54
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 429
    Sterling Bank and Trust, FSB
    Similarity Rank: 535
    SANTA CLARA COUNTY
    Similarity Rank: 1121
    Valley First Credit Union
    Similarity Rank: 1296
    EXCITE Credit Union
    Similarity Rank: 1407
    1ST UNITED SERVICES CREDIT UNION
    Similarity Rank: 1702
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1755
    USE Credit Union
    Similarity Rank: 2088
    CTBC Bank Corp. (USA)
    Similarity Rank: 2353

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 175 $22,825,000 $130,429 n/a 5.42%
    Conventional 172 $52,840,000 $307,209 $1,831 4.97%

    For 2022, Santa Clara County's most frequently originated type of loan was HELOC, with 175 originations. Their 2nd most popular type was Conventional, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 169 $26,035,000 $154,053 $941 5.31%
    Other 90 $9,910,000 $110,111 $7 5.90%
    Cash Out Refi 38 $21,310,000 $560,789 $3,270 3.88%
    Refi 29 $6,355,000 $219,138 $2,776 4.41%
    Home Purchase 21 $12,055,000 $574,048 $4,223 4.76%

    For 2022, Santa Clara County's most frequently cited loan purpose was Home Improvement, with 169 originations. The 2nd most popular reason was Other, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 175 $22,825,000 $130,429 $0 5.42%
    30 Year 72 $40,760,000 $566,111 $3,683 4.00%
    15 Year 71 $8,225,000 $115,845 $268 5.92%
    10 Year 14 $1,190,000 $85,000 $648 5.60%
    5 Year 8 $320,000 $40,000 $0 5.28%
    20 Year 7 $2,345,000 $335,000 $3,105 3.70%

    For 2022, Santa Clara County's most frequently cited loan duration was Other, with 175 originations. The 2nd most popular length was 30 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 158 $45,720,000 $289,367
    $1k-2k 7 $2,385,000 $340,714
    $3k-4k 3 $1,945,000 $648,333
    $5k+ 2 $1,910,000 $955,000
    $2k-3k 1 $405,000 $405,000
    $4k-5k 1 $475,000 $475,000

    Santa Clara County's average total fees were $3,683, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 158 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 118 $20,420,000 $173,051
    3-4% 92 $31,620,000 $343,696
    4-5% 48 $11,910,000 $248,125
    6-7% 39 $4,595,000 $117,821
    7-8% 33 $3,465,000 $105,000
    2.5-3% 12 $3,270,000 $272,500
    Over 8% 4 $230,000 $57,500
    <2.5% 1 $155,000 $155,000

    During 2022, Santa Clara County's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 5-6%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $6,455,000 $55,171 $13 5.67%
    $100k-200k 101 $12,535,000 $124,109 $796 5.62%
    $200k-400k 74 $19,400,000 $262,162 $2,729 4.71%
    $600k-1MM 30 $22,760,000 $758,667 $3,824 4.10%
    $400k-600k 21 $10,015,000 $476,905 $3,683 3.82%
    $1MM+ 4 $4,500,000 $1,125,000 $5,950 4.91%

    2022 saw Santa Clara County place emphasis on $100,000 or less loans with 117 originations, totaling $6,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 126 $24,160,000 $191,746 $1,501 5.30%
    $150k-250k 101 $25,895,000 $256,386 $1,854 5.30%
    $75k-100k 45 $7,525,000 $167,222 $1,719 4.93%
    $250k+ 39 $12,635,000 $323,974 $3,213 5.17%
    $50k-75k 28 $4,760,000 $170,000 $1,872 4.78%
    $50k or less 3 $295,000 $98,333 $1,654 5.56%

    Santa Clara County lent most frequently to those with incomes in the $100k-150k range, with 126 originations. The second most popular income band? $150k-250k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $11,305,000 $185,328 $1,696 5.05%
    30-36% 59 $12,475,000 $211,441 $1,950 5.07%
    39% 28 $6,650,000 $237,500 $1,347 5.35%
    50-60% 24 $4,210,000 $175,417 $673 6.00%
    <20% 24 $4,150,000 $172,917 $2,212 4.45%
    47% 15 $3,705,000 $247,000 $1,759 5.43%
    44% 15 $3,235,000 $215,667 $1,238 5.30%
    36% 15 $4,085,000 $272,333 $2,562 5.01%
    42% 13 $3,205,000 $246,538 $3,287 5.34%
    40% 13 $2,955,000 $227,308 $1,507 5.96%
    43% 13 $3,555,000 $273,462 $2,008 4.51%
    46% 13 $4,345,000 $334,231 $5,493 5.15%
    49% 13 $2,935,000 $225,769 $1,773 5.20%
    48% 10 $2,410,000 $241,000 $1,008 5.00%
    37% 8 $960,000 $120,000 $828 4.91%
    38% 8 $2,680,000 $335,000 $3,239 5.08%
    41% 7 $1,395,000 $199,286 $1,429 5.59%
    45% 7 $1,305,000 $186,429 $807 6.20%
    >60% 1 $105,000 $105,000 $0 7.00%

    Santa Clara County lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 160 $34,040,000 $212,750 $1,876 5.26%
    Not provided 102 $21,800,000 $213,725 $1,626 5.15%
    Asian 48 $11,130,000 $231,875 $1,846 5.14%
    Black 18 $3,440,000 $191,111 $2,340 4.94%
    American Indian 5 $2,215,000 $443,000 $3,274 4.08%
    Native Hawaiian or Islander 4 $1,940,000 $485,000 $3,376 4.81%
    Filipino 7 $685,000 $97,857 $0 6.34%
    Other Pacific Islander 1 $255,000 $255,000 $0 6.00%
    Asian Indian 1 $105,000 $105,000 $0 4.00%
    Guamanian 1 $55,000 $55,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    91.31%

    Santa Clara County has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.94%

    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 347 $75,665,000 $218,055

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    347 $75,665,000 $218,055

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $10,015,000 $286,143 $2,387 5.07%
    40-60% 23 $14,215,000 $618,043 $3,713 4.13%
    60-80% 26 $16,520,000 $635,385 $3,719 3.80%
    80-100% 12 $6,980,000 $581,667 $4,069 4.24%
    Under 20% 251 $27,935,000 $111,295 $399 5.50%