Santa Cruz USDA Loan Rates, Closing Costs & Stats

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 1 lenders originated 1 USDA loans during 2022. The total origination value was $585,000, with an average USDA loan value of $585,000.

Santa Cruz USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Santa Cruz averaged 5.91% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Santa Cruz's average USDA mortgage closing costs are $12,831.

The average rate for the prior week (2024-02-23) was 5.97% and one month ago for the week of 2024-01-26, the average rate was 6.12%.

The average rate one year ago was 5.99%.

For refis of the same type during the week of 2024-03-01, the average rate was 4.98%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Santa Cruz USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Cruz level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $10,353

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 $899,472 (5.9%) $1,396,805 (9.7%) 3.33 220
2018-02-01 $899,250 (5.9%) $1,382,567 (7.2%) 3.26 246
2018-03-01 $976,500 (10.1%) $1,367,781 (3.6%) 3.43 286
2018-04-01 $952,250 (5.8%) $1,503,671 (12.5%) 3.23 338
2018-05-01 $939,250 (4.5%) $1,461,461 (11.9%) 3.14 380
2018-06-01 $975,000 (6.1%) $1,455,719 (12.1%) 3.25 422
2018-07-01 $963,500 (4.2%) $1,405,771 (8.7%) 3.22 475
2018-08-01 $930,253 (3.4%) $1,341,335 (6.7%) 3.12 526
2018-09-01 $925,000 (2.8%) $1,320,901 (5.7%) 3.11 561
2018-10-01 $897,000 (-0.2%) $1,311,670 (6.3%) 3.04 562
2018-11-01 $899,500 (0.1%) $1,340,812 (2.7%) 3.05 537
2018-12-01 $895,000 (-0.4%) $1,351,462 (3.2%) 3.09 429
2019-01-01 $898,000 (-0.2%) $1,396,503 (0.0%) 3.10 322
2019-02-01 $899,000 (0.0%) $1,374,867 (-0.6%) 3.04 304
2019-03-01 $940,143 (-3.7%) $1,398,041 (2.2%) 3.07 351
2019-04-01 $986,843 (3.6%) $1,380,030 (-8.2%) 3.13 411
2019-05-01 $999,125 (6.4%) $1,370,090 (-6.3%) 3.12 471
2019-06-01 $996,500 (2.2%) $1,400,705 (-3.8%) 3.11 516
2019-07-01 $957,500 (-0.6%) $1,358,753 (-3.3%) 3.00 584
2019-08-01 $961,000 (3.3%) $1,355,578 (1.1%) 3.04 581
2019-09-01 $954,250 (3.2%) $1,349,242 (2.2%) 3.05 568
2019-10-01 $949,000 (5.8%) $1,345,017 (2.5%) 3.06 553
2019-11-01 $949,250 (5.5%) $1,363,268 (1.7%) 3.11 465
2019-12-01 $899,500 (0.5%) $1,391,949 (3.0%) 3.00 306
2020-01-01 $899,500 (0.2%) $1,385,242 (-0.8%) 3.01 239
2020-02-01 $927,000 (3.1%) $1,413,287 (2.8%) 3.03 263
2020-03-01 $949,000 (0.9%) $1,380,956 (-1.2%) 2.97 326
2020-04-01 $951,238 (-3.6%) $1,357,481 (-1.6%) 2.98 357
2020-05-01 $962,250 (-3.7%) $1,399,344 (2.1%) 2.92 389
2020-06-01 $1,024,498 (2.8%) $1,533,583 (9.5%) 3.02 378
2020-07-01 $1,095,749 (14.4%) $1,556,964 (14.6%) 3.18 352
2020-08-01 $1,100,000 (14.5%) $1,656,468 (22.2%) 3.15 312
2020-09-01 $1,091,500 (14.4%) $1,607,763 (19.2%) 3.13 274
2020-10-01 $1,075,000 (13.3%) $1,604,172 (19.3%) 3.08 271
2020-11-01 $1,042,222 (9.8%) $1,469,102 (7.8%) 3.05 255
2020-12-01 $972,919 (8.2%) $1,403,710 (0.8%) 2.89 217
2021-01-01 $950,000 (5.6%) $1,390,225 (0.4%) 2.84 167
2021-02-01 $944,500 (1.9%) $1,435,531 (1.6%) 2.75 149
2021-03-01 $1,074,750 (13.3%) $1,501,887 (8.8%) 3.05 159
2021-04-01 $1,134,250 (19.2%) $1,632,051 (20.2%) 3.07 185
2021-05-01 $1,200,000 (24.7%) $1,753,276 (25.3%) 3.19 207
2021-06-01 $1,235,000 (20.6%) $1,753,371 (14.3%) 3.25 216
2021-07-01 $1,200,000 (9.5%) $1,700,930 (9.3%) 3.17 235
2021-08-01 $1,174,500 (6.8%) $1,599,723 (-3.4%) 3.13 244
2021-09-01 $1,200,000 (9.9%) $1,643,528 (2.2%) 3.20 222
2021-10-01 $1,250,000 (16.3%) $1,722,360 (7.4%) 3.33 188
2021-11-01 $1,349,250 (29.5%) $1,764,830 (20.1%) 3.61 152
2021-12-01 $1,295,000 (33.1%) $1,691,547 (20.5%) 3.51 102
2022-01-01 $1,225,000 (29.0%) $1,624,704 (16.9%) 3.31 85
2022-02-01 $1,274,750 (35.0%) $1,626,249 (13.3%) 3.32 108
2022-03-01 $1,298,738 (20.8%) $1,672,798 (11.4%) 3.25 137
2022-04-01 $1,299,000 (14.5%) $1,703,795 (4.4%) 3.10 157
2022-05-01 $1,398,750 (16.6%) $1,772,698 (1.1%) 3.20 235
2022-06-01 $1,368,250 (10.8%) $1,765,917 (0.7%) 3.05 270
2022-07-01 $1,349,000 (12.4%) $1,728,453 (1.6%) 3.04 326
2022-08-01 $1,349,000 (14.9%) $1,697,038 (6.1%) 3.12 313
2022-09-01 $1,386,000 (15.5%) $1,738,811 (5.8%) 3.24 286
2022-10-01 $1,349,000 (7.9%) $1,723,678 (0.1%) 3.17 297
2022-11-01 $1,399,000 (3.7%) $1,777,598 (0.7%) 3.36 266
2022-12-01 $1,345,000 (3.9%) $1,715,599 (1.4%) 3.32 232
2023-01-01 $1,285,750 (5.0%) $1,643,300 (1.1%) 3.18 171
2023-02-01 $1,316,250 (3.3%) $1,659,280 (2.0%) 3.18 176
2023-03-01 $1,397,000 (7.6%) $1,790,272 (7.0%) 3.29 173
2023-04-01 $1,399,000 (7.7%) $1,856,567 (9.0%) 3.25 204
2023-05-01 $1,432,000 (2.4%) $1,810,164 (2.1%) 3.25 243
2023-06-01 $1,387,000 (1.4%) $1,748,746 (-1.0%) 3.12 280
2023-07-01 $1,375,000 (1.9%) $1,764,170 (2.1%) 3.13 297
2023-08-01 $1,298,000 (-3.8%) $1,717,326 (1.2%) 2.98 312
2023-09-01 $1,250,000 (-9.8%) $1,723,492 (-0.9%) 2.91 319
2023-10-01 $1,197,000 (-11.3%) $1,695,612 (-1.6%) 2.82 332
2023-11-01 $1,174,857 (-16.0%) $1,674,739 (-5.8%) 2.80 311
2023-12-01 $1,182,000 (-12.1%) $1,611,871 (-6.1%) 2.88 248
2024-01-01 $1,062,000 (-17.4%) $1,536,203 (-6.5%) 2.59 200
Santa Cruz's median listing price for 2024-01-01 was $1,062,000, a difference of $-223,750 (-17.4%) versus the prior year and $-120,000 versus the prior month.

Santa Cruz's median listing price comes in at 259% of the national average.

Santa Cruz's average listing price for 2024-01-01 was $1,536,203, a difference of $-107,097 (-6.5%) versus the prior year and $-75,668 versus the prior month.

For the 2024-01-01 period, Santa Cruz had 200 MLS listings, a difference of -48 listings (-19%) versus the prior month and 29 listings (17%) 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 67 days 1,719 sqft
2018-02-01 36 days 1,608 sqft
2018-03-01 30 days 1,677 sqft
2018-04-01 34 days 1,702 sqft
2018-05-01 33 days 1,665 sqft
2018-06-01 39 days 1,696 sqft
2018-07-01 42 days 1,721 sqft
2018-08-01 44 days 1,655 sqft
2018-09-01 46 days 1,657 sqft
2018-10-01 52 days 1,652 sqft
2018-11-01 56 days 1,678 sqft
2018-12-01 67 days 1,617 sqft
2019-01-01 81 days 1,606 sqft
2019-02-01 66 days 1,662 sqft
2019-03-01 41 days 1,719 sqft
2019-04-01 33 days 1,766 sqft
2019-05-01 36 days 1,736 sqft
2019-06-01 46 days 1,747 sqft
2019-07-01 47 days 1,678 sqft
2019-08-01 53 days 1,670 sqft
2019-09-01 58 days 1,685 sqft
2019-10-01 61 days 1,691 sqft
2019-11-01 69 days 1,700 sqft
2019-12-01 95 days 1,630 sqft
2020-01-01 90 days 1,636 sqft
2020-02-01 39 days 1,611 sqft
2020-03-01 34 days 1,638 sqft
2020-04-01 47 days 1,675 sqft
2020-05-01 53 days 1,726 sqft
2020-06-01 44 days 1,746 sqft
2020-07-01 45 days 1,842 sqft
2020-08-01 48 days 1,843 sqft
2020-09-01 66 days 1,801 sqft
2020-10-01 62 days 1,798 sqft
2020-11-01 57 days 1,722 sqft
2020-12-01 59 days 1,617 sqft
2021-01-01 54 days 1,618 sqft
2021-02-01 35 days 1,538 sqft
2021-03-01 33 days 1,636 sqft
2021-04-01 27 days 1,654 sqft
2021-05-01 25 days 1,793 sqft
2021-06-01 31 days 1,801 sqft
2021-07-01 29 days 1,796 sqft
2021-08-01 31 days 1,672 sqft
2021-09-01 43 days 1,835 sqft
2021-10-01 50 days 1,852 sqft
2021-11-01 64 days 1,955 sqft
2021-12-01 76 days 1,844 sqft
2022-01-01 52 days 1,649 sqft
2022-02-01 17 days 1,604 sqft
2022-03-01 18 days 1,536 sqft
2022-04-01 24 days 1,600 sqft
2022-05-01 23 days 1,716 sqft
2022-06-01 28 days 1,724 sqft
2022-07-01 36 days 1,705 sqft
2022-08-01 41 days 1,701 sqft
2022-09-01 45 days 1,744 sqft
2022-10-01 44 days 1,705 sqft
2022-11-01 54 days 1,796 sqft
2022-12-01 66 days 1,725 sqft
2023-01-01 78 days 1,703 sqft
2023-02-01 61 days 1,691 sqft
2023-03-01 38 days 1,723 sqft
2023-04-01 36 days 1,786 sqft
2023-05-01 32 days 1,753 sqft
2023-06-01 32 days 1,754 sqft
2023-07-01 36 days 1,696 sqft
2023-08-01 40 days 1,587 sqft
2023-09-01 39 days 1,600 sqft
2023-10-01 43 days 1,531 sqft
2023-11-01 48 days 1,516 sqft
2023-12-01 60 days 1,438 sqft
2024-01-01 68 days 1,351 sqft
Santa Cruz's median listing age (time on market) for 2024-01-01 was 68 days. This is -13% shorter than the same period one year ago.

Santa Cruz's median square footage for active listings during the 2024-01-01 period was 1,351 sqft. One year prior, the average listing was 1,703 sqft.