Santa Maria FHA Loan Rates, Closing Costs & Stats
SANTA MARIA-SANTA BARBARA, CA
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Santa Maria's 62 lenders originated 344 FHA loans during 2023. The total origination value was $168,220,000, with an average FHA loan value of $489,012.
Santa Maria FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Santa Maria
averaged
6.16%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Santa Maria's average FHA mortgage closing costs are $12,514.
The average rate for the prior week (2024-10-04) was
5.78% and
one month ago for the week of 2024-09-06, the
average rate was 6.01%.
The average rate one year ago was 7.44%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.06%.
Santa Maria FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Maria level.
The top Santa Maria FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
76 FHA loans originated. Their average total fees are
$21,090, which is $3,180
higher than the next largest lender,
Century Mortgage Company DBA Century Lending Company.
The lowest fee Santa Maria FHA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC ($16,633), Century Mortgage Company DBA Century Lending Company ($17,910), QUICKEN LOANS, LLC ($18,655), Nations Lending Corporation ($18,766) and GUILD MORTGAGE COMPANY ($19,680).
The lowest rate Santa Maria FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.66%), QUICKEN LOANS, LLC (5.86%), UNITED WHOLESALE MORTGAGE, LLC (6.25%), GUILD MORTGAGE COMPANY (6.30%) and Century Mortgage Company DBA Century Lending Company (6.46%).
Santa Maria FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SANTA MARIA-SANTA BARBARA, CA | SANTA BARBARA | 2022 | $783,150 | $1,002,600 | $1,211,900 | $1,506,100 |
SANTA MARIA-SANTA BARBARA, CA | SANTA BARBARA | 2023 | $805,000 | $1,030,550 | $1,245,700 | $1,548,100 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Santa Maria (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $993,000 (-9.3%) | $3,110,227 (3.8%) | 3.68 | 749 |
2018-02-01 | $1,088,750 (0.5%) | $3,110,107 (2.0%) | 3.95 | 784 |
2018-03-01 | $999,000 (-10.7%) | $2,883,456 (-8.3%) | 3.51 | 849 |
2018-04-01 | $1,049,250 (-12.4%) | $2,705,619 (-15.9%) | 3.56 | 944 |
2018-05-01 | $1,043,000 (-11.7%) | $2,580,283 (-17.2%) | 3.48 | 1,031 |
2018-06-01 | $1,049,000 (-6.8%) | $2,466,002 (-21.0%) | 3.50 | 1,100 |
2018-07-01 | $1,088,000 (-3.3%) | $2,477,554 (-20.3%) | 3.63 | 1,142 |
2018-08-01 | $997,748 (-1.2%) | $2,402,452 (-21.3%) | 3.34 | 1,158 |
2018-09-01 | $995,000 (-0.5%) | $2,424,501 (-22.5%) | 3.34 | 1,149 |
2018-10-01 | $995,000 (-9.1%) | $2,449,067 (-22.2%) | 3.37 | 1,113 |
2018-11-01 | $986,500 (-7.7%) | $2,483,975 (-22.5%) | 3.34 | 1,113 |
2018-12-01 | $975,000 (-2.4%) | $2,576,667 (-22.0%) | 3.36 | 1,012 |
2019-01-01 | $957,500 (-3.6%) | $2,522,925 (-18.9%) | 3.31 | 956 |
2019-02-01 | $944,500 (-13.3%) | $2,556,480 (-17.8%) | 3.19 | 895 |
2019-03-01 | $1,029,286 (3.0%) | $2,762,751 (-4.2%) | 3.37 | 918 |
2019-04-01 | $1,100,000 (4.8%) | $2,782,906 (2.9%) | 3.49 | 974 |
2019-05-01 | $1,149,500 (10.2%) | $2,815,965 (9.1%) | 3.59 | 1,043 |
2019-06-01 | $1,175,000 (12.0%) | $2,907,853 (17.9%) | 3.67 | 1,051 |
2019-07-01 | $1,244,950 (14.4%) | $2,920,288 (17.9%) | 3.90 | 1,058 |
2019-08-01 | $1,231,364 (23.4%) | $3,024,719 (25.9%) | 3.90 | 1,026 |
2019-09-01 | $1,255,909 (26.2%) | $3,114,258 (28.5%) | 4.02 | 995 |
2019-10-01 | $1,272,273 (27.9%) | $3,157,820 (28.9%) | 4.10 | 970 |
2019-11-01 | $1,349,450 (36.8%) | $3,257,299 (31.1%) | 4.42 | 904 |
2019-12-01 | $1,338,500 (37.3%) | $3,435,683 (33.3%) | 4.46 | 763 |
2020-01-01 | $1,387,500 (44.9%) | $3,566,971 (41.4%) | 4.64 | 678 |
2020-02-01 | $1,495,000 (58.3%) | $3,671,847 (43.6%) | 4.89 | 678 |
2020-03-01 | $1,578,000 (53.3%) | $3,635,533 (31.6%) | 4.95 | 705 |
2020-04-01 | $1,397,750 (27.1%) | $3,317,297 (19.2%) | 4.38 | 711 |
2020-05-01 | $1,350,000 (17.4%) | $3,170,821 (12.6%) | 4.10 | 766 |
2020-06-01 | $1,485,000 (26.4%) | $3,331,976 (14.6%) | 4.37 | 727 |
2020-07-01 | $1,580,000 (26.9%) | $3,564,307 (22.1%) | 4.58 | 652 |
2020-08-01 | $1,735,000 (40.9%) | $3,840,069 (27.0%) | 4.97 | 612 |
2020-09-01 | $1,875,000 (49.3%) | $4,151,481 (33.3%) | 5.37 | 560 |
2020-10-01 | $1,811,750 (42.4%) | $4,130,227 (30.8%) | 5.19 | 515 |
2020-11-01 | $1,811,750 (34.3%) | $4,379,570 (34.5%) | 5.30 | 461 |
2020-12-01 | $1,828,750 (36.6%) | $4,508,722 (31.2%) | 5.44 | 406 |
2021-01-01 | $1,875,000 (35.1%) | $4,767,634 (33.7%) | 5.60 | 343 |
2021-02-01 | $1,597,500 (6.9%) | $4,409,100 (20.1%) | 4.65 | 336 |
2021-03-01 | $1,680,000 (6.5%) | $5,031,699 (38.4%) | 4.77 | 310 |
2021-04-01 | $1,523,000 (9.0%) | $4,628,793 (39.5%) | 4.12 | 301 |
2021-05-01 | $1,395,000 (3.3%) | $4,535,119 (43.0%) | 3.71 | 295 |
2021-06-01 | $1,297,250 (-12.6%) | $4,418,558 (32.6%) | 3.41 | 342 |
2021-07-01 | $1,200,000 (-24.1%) | $4,532,433 (27.2%) | 3.17 | 347 |
2021-08-01 | $1,196,000 (-31.1%) | $5,126,322 (33.5%) | 3.19 | 333 |
2021-09-01 | $1,326,000 (-29.3%) | $5,071,788 (22.2%) | 3.54 | 323 |
2021-10-01 | $1,270,000 (-29.9%) | $5,572,701 (34.9%) | 3.39 | 302 |
2021-11-01 | $1,313,500 (-27.5%) | $5,674,530 (29.6%) | 3.51 | 274 |
2021-12-01 | $1,292,500 (-29.3%) | $5,583,833 (23.9%) | 3.50 | 256 |
2022-01-01 | $1,330,000 (-29.1%) | $5,791,123 (21.5%) | 3.60 | 222 |
2022-02-01 | $1,474,750 (-7.7%) | $5,289,702 (20.0%) | 3.84 | 206 |
2022-03-01 | $1,347,500 (-19.8%) | $5,602,950 (11.4%) | 3.37 | 228 |
2022-04-01 | $1,399,000 (-8.1%) | $5,518,577 (19.2%) | 3.33 | 245 |
2022-05-01 | $1,434,750 (2.9%) | $5,112,663 (12.7%) | 3.28 | 312 |
2022-06-01 | $1,372,500 (5.8%) | $4,982,731 (12.8%) | 3.06 | 364 |
2022-07-01 | $1,200,000 (0.0%) | $4,231,033 (-6.7%) | 2.70 | 492 |
2022-08-01 | $1,269,250 (6.1%) | $4,402,294 (-14.1%) | 2.93 | 489 |
2022-09-01 | $1,255,750 (-5.3%) | $4,142,134 (-18.3%) | 2.94 | 462 |
2022-10-01 | $1,150,000 (-9.5%) | $3,782,690 (-32.1%) | 2.71 | 439 |
2022-11-01 | $1,272,500 (-3.1%) | $3,617,961 (-36.2%) | 3.06 | 411 |
2022-12-01 | $1,212,000 (-6.2%) | $3,719,362 (-33.4%) | 2.99 | 345 |
2023-01-01 | $1,249,750 (-6.0%) | $3,731,296 (-35.6%) | 3.10 | 284 |
2023-02-01 | $1,343,750 (-8.9%) | $3,922,010 (-25.9%) | 3.24 | 283 |
2023-03-01 | $1,513,250 (12.3%) | $4,347,494 (-22.4%) | 3.57 | 261 |
2023-04-01 | $1,895,000 (35.5%) | $4,548,802 (-17.6%) | 4.41 | 247 |
2023-05-01 | $2,017,500 (40.6%) | $4,808,097 (-6.0%) | 4.57 | 267 |
2023-06-01 | $2,118,500 (54.4%) | $4,844,621 (-2.8%) | 4.76 | 287 |
2023-07-01 | $1,996,000 (66.3%) | $4,877,749 (15.3%) | 4.54 | 355 |
2023-08-01 | $1,960,000 (54.4%) | $4,699,293 (6.8%) | 4.50 | 371 |
2023-09-01 | $1,895,000 (50.9%) | $4,734,365 (14.3%) | 4.41 | 402 |
2023-10-01 | $1,902,500 (65.4%) | $5,124,111 (35.5%) | 4.48 | 410 |
2023-11-01 | $1,822,500 (43.2%) | $5,245,227 (45.0%) | 4.34 | 425 |
2023-12-01 | $1,795,000 (48.1%) | $5,360,959 (44.1%) | 4.38 | 393 |
2024-01-01 | $1,749,500 (40.0%) | $5,009,413 (34.3%) | 4.27 | 380 |
2024-02-01 | $1,779,750 (32.5%) | $4,981,103 (27.0%) | 4.28 | 372 |
2024-03-01 | $1,950,000 (28.9%) | $4,850,374 (11.6%) | 4.59 | 403 |
2024-04-01 | $1,899,500 (0.2%) | $4,439,844 (-2.4%) | 4.42 | 467 |
2024-05-01 | $2,111,750 (4.7%) | $5,028,834 (4.6%) | 4.77 | 492 |
2024-06-01 | $2,097,000 (-1.0%) | $4,911,874 (1.4%) | 4.71 | 529 |
2024-07-01 | $2,097,750 (5.1%) | $4,777,995 (-2.1%) | 4.80 | 585 |
2024-08-01 | $2,150,000 (9.7%) | $4,668,749 (-0.7%) | 5.00 | 616 |
2024-09-01 | $2,191,000 (15.6%) | $4,674,199 (-1.3%) | 5.16 | 590 |
Santa Maria's median listing price comes in at 516% of the national average.
Santa Maria's average listing price for 2024-09-01 was $4,674,199, a difference of $-60,166 (-1.3%) versus the prior year and $5,450 versus the prior month.
For the 2024-09-01 period, Santa Maria had 590 MLS listings, a difference of -26 listings (-4%) versus the prior month and 188 listings (47%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Santa Maria (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 87 days | 2,103 sqft |
2018-02-01 | 65 days | 2,125 sqft |
2018-03-01 | 46 days | 2,087 sqft |
2018-04-01 | 46 days | 2,092 sqft |
2018-05-01 | 46 days | 2,051 sqft |
2018-06-01 | 52 days | 2,041 sqft |
2018-07-01 | 55 days | 2,021 sqft |
2018-08-01 | 60 days | 2,000 sqft |
2018-09-01 | 64 days | 2,000 sqft |
2018-10-01 | 69 days | 1,995 sqft |
2018-11-01 | 69 days | 1,994 sqft |
2018-12-01 | 82 days | 2,015 sqft |
2019-01-01 | 87 days | 2,034 sqft |
2019-02-01 | 84 days | 2,037 sqft |
2019-03-01 | 70 days | 2,044 sqft |
2019-04-01 | 53 days | 2,059 sqft |
2019-05-01 | 51 days | 2,084 sqft |
2019-06-01 | 57 days | 2,113 sqft |
2019-07-01 | 66 days | 2,169 sqft |
2019-08-01 | 68 days | 2,191 sqft |
2019-09-01 | 69 days | 2,229 sqft |
2019-10-01 | 70 days | 2,252 sqft |
2019-11-01 | 73 days | 2,281 sqft |
2019-12-01 | 84 days | 2,293 sqft |
2020-01-01 | 90 days | 2,320 sqft |
2020-02-01 | 82 days | 2,361 sqft |
2020-03-01 | 55 days | 2,369 sqft |
2020-04-01 | 61 days | 2,207 sqft |
2020-05-01 | 64 days | 2,238 sqft |
2020-06-01 | 53 days | 2,268 sqft |
2020-07-01 | 57 days | 2,284 sqft |
2020-08-01 | 46 days | 2,287 sqft |
2020-09-01 | 46 days | 2,352 sqft |
2020-10-01 | 50 days | 2,347 sqft |
2020-11-01 | 53 days | 2,392 sqft |
2020-12-01 | 61 days | 2,341 sqft |
2021-01-01 | 60 days | 2,203 sqft |
2021-02-01 | 38 days | 1,994 sqft |
2021-03-01 | 31 days | 2,097 sqft |
2021-04-01 | 27 days | 2,075 sqft |
2021-05-01 | 25 days | 2,010 sqft |
2021-06-01 | 22 days | 1,937 sqft |
2021-07-01 | 31 days | 1,949 sqft |
2021-08-01 | 31 days | 2,048 sqft |
2021-09-01 | 31 days | 1,980 sqft |
2021-10-01 | 34 days | 2,020 sqft |
2021-11-01 | 31 days | 2,131 sqft |
2021-12-01 | 39 days | 2,122 sqft |
2022-01-01 | 43 days | 1,988 sqft |
2022-02-01 | 27 days | 2,054 sqft |
2022-03-01 | 20 days | 1,989 sqft |
2022-04-01 | 22 days | 2,000 sqft |
2022-05-01 | 25 days | 2,001 sqft |
2022-06-01 | 29 days | 1,988 sqft |
2022-07-01 | 29 days | 1,955 sqft |
2022-08-01 | 40 days | 1,968 sqft |
2022-09-01 | 48 days | 1,973 sqft |
2022-10-01 | 52 days | 1,930 sqft |
2022-11-01 | 55 days | 1,909 sqft |
2022-12-01 | 66 days | 1,922 sqft |
2023-01-01 | 73 days | 2,048 sqft |
2023-02-01 | 43 days | 2,024 sqft |
2023-03-01 | 42 days | 2,003 sqft |
2023-04-01 | 40 days | 2,132 sqft |
2023-05-01 | 33 days | 2,272 sqft |
2023-06-01 | 34 days | 2,238 sqft |
2023-07-01 | 32 days | 2,197 sqft |
2023-08-01 | 39 days | 2,200 sqft |
2023-09-01 | 46 days | 2,183 sqft |
2023-10-01 | 46 days | 2,254 sqft |
2023-11-01 | 48 days | 2,237 sqft |
2023-12-01 | 52 days | 2,168 sqft |
2024-01-01 | 65 days | 2,106 sqft |
2024-02-01 | 56 days | 2,116 sqft |
2024-03-01 | 47 days | 2,072 sqft |
2024-04-01 | 41 days | 2,024 sqft |
2024-05-01 | 42 days | 2,116 sqft |
2024-06-01 | 45 days | 2,193 sqft |
2024-07-01 | 45 days | 2,198 sqft |
2024-08-01 | 49 days | 2,200 sqft |
2024-09-01 | 58 days | 2,210 sqft |
Santa Maria's median square footage for active listings during the 2024-09-01 period was 2,210 sqft. One year prior, the average listing was 2,183 sqft.