Santa Cruz USDA Loans
SANTA CRUZ-WATSONVILLE, CA
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Santa Cruz's 3 lenders originated 3 USDA loans during 2021. The total origination value was $1,565,000, with an average USDA loan value of $521,667.
Santa Cruz USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Santa Cruz
averaged
5.8%
for the week of 2022-09-23, compared to the national average (all USDA variants) of
6.08% for the same period.
The average rate for the prior week (2022-09-16) was
6.03% and
one month ago for the week of 2022-08-19, the
average rate was 5.22%.
The average rate one year ago was 2.75%.
For refis of the same type during the week of 2022-09-23, the average rate
was 5.87%.
Santa Cruz USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Cruz level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| CMG MORTGAGE, INC. | 1 | 3.25% | $13,811 |
| FINANCE OF AMERICA MORTGAGE LLC | 1 | 2.38% | $25,697 |
| HOME POINT FINANCIAL CORPORATION | 1 | 2.38% | $8,957 |
The top Santa Cruz USDA lender as defined by loan originations is CMG MORTGAGE, INC., with
1 USDA loans originated. Their average total fees are
$13,811, which is $11,886
lower than the next largest lender,
FINANCE OF AMERICA MORTGAGE LLC.
The lowest fee Santa Cruz USDA lenders (with over 10 loans originated) are
.
The lowest rate Santa Cruz USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Santa Cruz (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $899,500 (5.6%) | $1,376,038 (7.3%) | 3.31 | 236 |
| 2018-02-01 | $899,000 (5.9%) | $1,377,145 (7.8%) | 3.24 | 266 |
| 2018-03-01 | $959,000 (9.7%) | $1,344,682 (2.1%) | 3.32 | 313 |
| 2018-04-01 | $948,500 (5.5%) | $1,425,853 (6.7%) | 3.18 | 369 |
| 2018-05-01 | $939,000 (4.5%) | $1,404,459 (6.8%) | 3.13 | 412 |
| 2018-06-01 | $979,000 (7.0%) | $1,409,376 (7.2%) | 3.26 | 449 |
| 2018-07-01 | $972,000 (5.1%) | $1,366,872 (5.0%) | 3.24 | 506 |
| 2018-08-01 | $944,000 (4.3%) | $1,316,267 (3.7%) | 3.15 | 556 |
| 2018-09-01 | $937,000 (4.1%) | $1,282,981 (2.0%) | 3.13 | 607 |
| 2018-10-01 | $919,500 (2.3%) | $1,289,600 (3.8%) | 3.08 | 602 |
| 2018-11-01 | $914,950 (1.8%) | $1,309,094 (0.9%) | 3.07 | 570 |
| 2018-12-01 | $895,000 (-0.5%) | $1,308,370 (0.1%) | 3.07 | 453 |
| 2019-01-01 | $895,000 (-0.5%) | $1,353,971 (-1.6%) | 3.09 | 346 |
| 2019-02-01 | $899,000 (0.0%) | $1,314,460 (-4.6%) | 3.01 | 322 |
| 2019-03-01 | $941,857 (-1.8%) | $1,357,147 (0.9%) | 3.07 | 372 |
| 2019-04-01 | $991,857 (4.6%) | $1,374,826 (-3.6%) | 3.12 | 432 |
| 2019-05-01 | $1,024,250 (9.1%) | $1,361,668 (-3.1%) | 3.16 | 501 |
| 2019-06-01 | $1,049,000 (7.2%) | $1,421,673 (0.9%) | 3.23 | 549 |
| 2019-07-01 | $977,000 (0.5%) | $1,353,278 (-1.0%) | 3.04 | 618 |
| 2019-08-01 | $989,286 (4.8%) | $1,355,714 (3.0%) | 3.11 | 606 |
| 2019-09-01 | $995,000 (6.2%) | $1,362,806 (6.2%) | 3.16 | 582 |
| 2019-10-01 | $979,500 (6.5%) | $1,377,359 (6.8%) | 3.12 | 594 |
| 2019-11-01 | $969,000 (5.9%) | $1,388,310 (6.1%) | 3.13 | 497 |
| 2019-12-01 | $924,000 (3.2%) | $1,427,425 (9.1%) | 3.08 | 343 |
| 2020-01-01 | $909,500 (1.6%) | $1,391,075 (2.7%) | 3.03 | 268 |
| 2020-02-01 | $939,000 (4.5%) | $1,392,377 (5.9%) | 3.03 | 285 |
| 2020-03-01 | $957,500 (1.7%) | $1,370,578 (1.0%) | 2.99 | 342 |
| 2020-04-01 | $962,500 (-3.0%) | $1,335,706 (-2.9%) | 3.00 | 371 |
| 2020-05-01 | $975,000 (-4.8%) | $1,378,903 (1.3%) | 2.95 | 404 |
| 2020-06-01 | $1,049,000 (0.0%) | $1,503,080 (5.7%) | 3.06 | 405 |
| 2020-07-01 | $1,098,500 (12.4%) | $1,521,060 (12.4%) | 3.15 | 374 |
| 2020-08-01 | $1,119,000 (13.1%) | $1,602,520 (18.2%) | 3.20 | 331 |
| 2020-09-01 | $1,149,500 (15.5%) | $1,657,636 (21.6%) | 3.28 | 289 |
| 2020-10-01 | $1,118,000 (14.1%) | $1,627,796 (18.2%) | 3.19 | 280 |
| 2020-11-01 | $1,164,500 (20.2%) | $1,565,941 (12.8%) | 3.33 | 263 |
| 2020-12-01 | $1,022,950 (10.7%) | $1,457,444 (2.1%) | 3.00 | 229 |
| 2021-01-01 | $998,000 (9.7%) | $1,411,160 (1.4%) | 2.94 | 172 |
| 2021-02-01 | $957,500 (2.0%) | $1,468,324 (5.5%) | 2.75 | 159 |
| 2021-03-01 | $1,122,500 (17.2%) | $1,554,950 (13.5%) | 3.15 | 172 |
| 2021-04-01 | $1,182,000 (22.8%) | $1,614,044 (20.8%) | 3.18 | 201 |
| 2021-05-01 | $1,249,000 (28.1%) | $1,702,049 (23.4%) | 3.29 | 224 |
| 2021-06-01 | $1,230,000 (17.3%) | $1,688,960 (12.4%) | 3.19 | 228 |
| 2021-07-01 | $1,270,500 (15.7%) | $1,682,907 (10.6%) | 3.30 | 247 |
| 2021-08-01 | $1,199,000 (7.2%) | $1,544,071 (-3.7%) | 3.15 | 266 |
| 2021-09-01 | $1,200,000 (4.4%) | $1,586,898 (-4.3%) | 3.16 | 233 |
| 2021-10-01 | $1,250,000 (11.8%) | $1,690,794 (3.9%) | 3.29 | 199 |
| 2021-11-01 | $1,348,000 (15.8%) | $1,674,977 (7.0%) | 3.55 | 162 |
| 2021-12-01 | $1,272,500 (24.4%) | $1,578,310 (8.3%) | 3.39 | 106 |
| 2022-01-01 | $1,199,000 (20.1%) | $1,474,350 (4.5%) | 3.20 | 92 |
| 2022-02-01 | $1,243,250 (29.8%) | $1,492,242 (1.6%) | 3.17 | 113 |
| 2022-03-01 | $1,262,500 (12.5%) | $1,572,400 (1.1%) | 3.12 | 137 |
| 2022-04-01 | $1,275,000 (7.9%) | $1,616,407 (0.2%) | 3.00 | 165 |
| 2022-05-01 | $1,386,000 (11.0%) | $1,703,118 (0.1%) | 3.10 | 248 |
| 2022-06-01 | $1,324,975 (7.7%) | $1,752,457 (3.8%) | 2.94 | 290 |
| 2022-07-01 | $1,349,000 (6.2%) | $1,724,300 (2.5%) | 3.00 | 337 |
| 2022-08-01 | $1,345,000 (12.2%) | $1,687,826 (9.3%) | 3.09 | 330 |
Santa Cruz's median listing price comes in at 309% of the national average.
Santa Cruz's average listing price for 2022-08-01 was $1,687,826, a difference of $143,755 (9.3%) versus the prior year and $-36,474 versus the prior month.
For the 2022-08-01 period, Santa Cruz had 330 MLS listings, a difference of -7 listings (-2%) versus the prior month and 64 listings (24%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Santa Cruz (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 70 days | 1,732 sqft |
| 2018-02-01 | 38 days | 1,619 sqft |
| 2018-03-01 | 31 days | 1,685 sqft |
| 2018-04-01 | 36 days | 1,697 sqft |
| 2018-05-01 | 36 days | 1,683 sqft |
| 2018-06-01 | 39 days | 1,696 sqft |
| 2018-07-01 | 42 days | 1,728 sqft |
| 2018-08-01 | 45 days | 1,658 sqft |
| 2018-09-01 | 46 days | 1,676 sqft |
| 2018-10-01 | 52 days | 1,671 sqft |
| 2018-11-01 | 58 days | 1,700 sqft |
| 2018-12-01 | 69 days | 1,648 sqft |
| 2019-01-01 | 81 days | 1,602 sqft |
| 2019-02-01 | 65 days | 1,661 sqft |
| 2019-03-01 | 41 days | 1,725 sqft |
| 2019-04-01 | 32 days | 1,791 sqft |
| 2019-05-01 | 35 days | 1,785 sqft |
| 2019-06-01 | 45 days | 1,796 sqft |
| 2019-07-01 | 51 days | 1,698 sqft |
| 2019-08-01 | 53 days | 1,712 sqft |
| 2019-09-01 | 58 days | 1,737 sqft |
| 2019-10-01 | 59 days | 1,718 sqft |
| 2019-11-01 | 66 days | 1,758 sqft |
| 2019-12-01 | 85 days | 1,696 sqft |
| 2020-01-01 | 92 days | 1,695 sqft |
| 2020-02-01 | 52 days | 1,695 sqft |
| 2020-03-01 | 37 days | 1,693 sqft |
| 2020-04-01 | 48 days | 1,728 sqft |
| 2020-05-01 | 60 days | 1,759 sqft |
| 2020-06-01 | 46 days | 1,783 sqft |
| 2020-07-01 | 48 days | 1,866 sqft |
| 2020-08-01 | 49 days | 1,892 sqft |
| 2020-09-01 | 58 days | 1,890 sqft |
| 2020-10-01 | 57 days | 1,914 sqft |
| 2020-11-01 | 43 days | 1,916 sqft |
| 2020-12-01 | 51 days | 1,733 sqft |
| 2021-01-01 | 58 days | 1,680 sqft |
| 2021-02-01 | 37 days | 1,590 sqft |
| 2021-03-01 | 33 days | 1,716 sqft |
| 2021-04-01 | 26 days | 1,709 sqft |
| 2021-05-01 | 27 days | 1,815 sqft |
| 2021-06-01 | 30 days | 1,846 sqft |
| 2021-07-01 | 29 days | 1,837 sqft |
| 2021-08-01 | 31 days | 1,762 sqft |
| 2021-09-01 | 37 days | 1,881 sqft |
| 2021-10-01 | 42 days | 1,901 sqft |
| 2021-11-01 | 42 days | 1,949 sqft |
| 2021-12-01 | 47 days | 1,925 sqft |
| 2022-01-01 | 42 days | 1,800 sqft |
| 2022-02-01 | 20 days | 1,616 sqft |
| 2022-03-01 | 22 days | 1,555 sqft |
| 2022-04-01 | 26 days | 1,656 sqft |
| 2022-05-01 | 24 days | 1,780 sqft |
| 2022-06-01 | 29 days | 1,772 sqft |
| 2022-07-01 | 37 days | 1,751 sqft |
| 2022-08-01 | 43 days | 1,745 sqft |
Santa Cruz's median square footage for active listings during the 2022-08-01 period was 1,745 sqft. One year prior, the average listing was 1,762 sqft.
