Santa Fe USDA Loan Rates, Closing Costs & Stats

SANTA FE, NM

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    • 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 Fe's 8 lenders originated 11 USDA loans during 2021. The total origination value was $2,845,000, with an average USDA loan value of $258,636.

    Santa Fe USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Santa Fe averaged 6.67% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Santa Fe's average USDA mortgage closing costs are $6,593.

    The average rate for the prior week (2022-11-25) was 6.8% and one month ago for the week of 2022-10-28, the average rate was 6.88%.

    The average rate one year ago was 3.47%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.23%.

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

    Santa Fe 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 Fe level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    Amerifirst Financial, Inc. 1 2.75% $4,296
    Bank of England 1 3.88% $8,280
    LEGACY MORTGAGE LLC 1 3.25% $6,177
    PLAZA HOME MORTGAGE, INC. 1 2.63% $5,763
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.38% $4,961
    SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $11,050
    TOP FLITE FINANCIAL, INC. 1 2.75% $11,145
    Waterstone Mortgage Corporation 1 2.88% $5,537

    The top Santa Fe USDA lender as defined by loan originations is Amerifirst Financial, Inc., with 1 USDA loans originated. Their average total fees are $4,296, which is $3,984 lower than the next largest lender, Bank of England.

    The lowest fee Santa Fe USDA lenders (with over 10 loans originated) are .

    The lowest rate Santa Fe USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Santa Fe (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 $565,000 (5.9%) $868,664 (7.5%) 2.09 722
    2018-02-01 $571,500 (8.6%) $879,397 (9.6%) 2.07 698
    2018-03-01 $562,500 (12.5%) $886,079 (12.3%) 1.97 678
    2018-04-01 $575,000 (8.6%) $913,910 (14.1%) 1.95 679
    2018-05-01 $577,000 (4.0%) $915,237 (11.9%) 1.93 725
    2018-06-01 $595,000 (6.3%) $916,069 (10.7%) 1.98 776
    2018-07-01 $598,000 (8.7%) $920,277 (12.5%) 2.00 833
    2018-08-01 $574,250 (3.1%) $894,762 (8.6%) 1.92 902
    2018-09-01 $568,500 (3.6%) $895,327 (10.0%) 1.91 884
    2018-10-01 $575,750 (4.8%) $910,926 (11.4%) 1.95 869
    2018-11-01 $575,000 (4.7%) $914,034 (10.6%) 1.95 828
    2018-12-01 $575,000 (0.0%) $896,224 (2.0%) 1.98 761
    2019-01-01 $591,750 (4.7%) $908,944 (4.6%) 2.04 659
    2019-02-01 $599,125 (4.8%) $900,800 (2.4%) 2.02 627
    2019-03-01 $575,907 (2.4%) $881,555 (-0.5%) 1.88 626
    2019-04-01 $551,857 (-4.0%) $867,420 (-5.1%) 1.75 649
    2019-05-01 $549,325 (-4.8%) $856,677 (-6.4%) 1.72 701
    2019-06-01 $548,950 (-7.7%) $842,587 (-8.0%) 1.72 802
    2019-07-01 $549,495 (-8.1%) $850,206 (-7.6%) 1.72 808
    2019-08-01 $569,636 (-0.8%) $860,646 (-3.8%) 1.80 795
    2019-09-01 $581,091 (2.2%) $861,937 (-3.7%) 1.86 778
    2019-10-01 $588,227 (2.2%) $862,479 (-5.3%) 1.90 750
    2019-11-01 $592,500 (3.0%) $888,727 (-2.8%) 1.94 664
    2019-12-01 $609,998 (6.1%) $911,177 (1.7%) 2.03 602
    2020-01-01 $622,500 (5.2%) $938,460 (3.3%) 2.08 519
    2020-02-01 $625,000 (4.3%) $972,765 (8.0%) 2.04 465
    2020-03-01 $616,250 (7.0%) $959,484 (8.8%) 1.93 463
    2020-04-01 $576,379 (4.4%) $920,563 (6.1%) 1.80 512
    2020-05-01 $598,000 (8.9%) $944,774 (10.3%) 1.82 519
    2020-06-01 $622,000 (13.3%) $941,243 (11.7%) 1.83 545
    2020-07-01 $635,000 (15.6%) $1,001,871 (17.8%) 1.84 557
    2020-08-01 $637,000 (11.8%) $1,001,490 (16.4%) 1.83 555
    2020-09-01 $672,500 (15.7%) $1,102,314 (27.9%) 1.93 509
    2020-10-01 $672,450 (14.3%) $1,133,589 (31.4%) 1.93 480
    2020-11-01 $650,000 (9.7%) $1,189,857 (33.9%) 1.90 437
    2020-12-01 $650,000 (6.6%) $1,175,505 (29.0%) 1.93 401
    2021-01-01 $640,000 (2.8%) $1,193,073 (27.1%) 1.91 340
    2021-02-01 $599,475 (-4.1%) $1,216,997 (25.1%) 1.74 304
    2021-03-01 $614,900 (-0.2%) $1,312,214 (36.8%) 1.74 264
    2021-04-01 $681,250 (18.2%) $1,364,382 (48.2%) 1.84 259
    2021-05-01 $682,000 (14.1%) $1,308,155 (38.5%) 1.80 276
    2021-06-01 $682,500 (9.7%) $1,261,917 (34.1%) 1.80 286
    2021-07-01 $675,000 (6.3%) $1,262,618 (26.0%) 1.78 347
    2021-08-01 $688,450 (8.1%) $1,260,348 (25.9%) 1.84 373
    2021-09-01 $692,000 (2.9%) $1,307,402 (18.6%) 1.85 354
    2021-10-01 $680,000 (1.1%) $1,352,173 (19.3%) 1.81 317
    2021-11-01 $697,500 (7.3%) $1,479,179 (24.3%) 1.86 248
    2021-12-01 $684,500 (5.3%) $1,489,364 (26.7%) 1.86 223
    2022-01-01 $707,500 (10.6%) $1,576,546 (32.1%) 1.91 189
    2022-02-01 $848,000 (41.5%) $1,710,021 (40.5%) 2.21 156
    2022-03-01 $817,500 (33.0%) $1,720,166 (31.1%) 2.05 171
    2022-04-01 $787,500 (15.6%) $1,645,553 (20.6%) 1.88 175
    2022-05-01 $774,250 (13.5%) $1,519,244 (16.1%) 1.77 242
    2022-06-01 $795,000 (16.5%) $1,452,660 (15.1%) 1.77 300
    2022-07-01 $775,000 (14.8%) $1,402,566 (11.1%) 1.75 374
    2022-08-01 $847,500 (23.1%) $1,484,216 (17.8%) 1.96 375
    2022-09-01 $847,450 (22.5%) $1,451,769 (11.0%) 1.98 387
    2022-10-01 $775,000 (14.0%) $1,414,890 (4.6%) 1.82 417
    2022-11-01 $727,000 (4.2%) $1,388,002 (-6.2%) 1.75 431
    Santa Fe's median listing price for 2022-11-01 was $727,000, a difference of $29,500 (4.2%) versus the prior year and $-48,000 versus the prior month.

    Santa Fe's median listing price comes in at 175% of the national average.

    Santa Fe's average listing price for 2022-11-01 was $1,388,002, a difference of $-91,177 (-6.2%) versus the prior year and $-26,888 versus the prior month.

    For the 2022-11-01 period, Santa Fe had 431 MLS listings, a difference of 14 listings (3%) versus the prior month and 183 listings (74%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Santa Fe (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 149 days 2,542 sqft
    2018-02-01 139 days 2,561 sqft
    2018-03-01 121 days 2,617 sqft
    2018-04-01 84 days 2,600 sqft
    2018-05-01 73 days 2,581 sqft
    2018-06-01 66 days 2,560 sqft
    2018-07-01 66 days 2,565 sqft
    2018-08-01 70 days 2,550 sqft
    2018-09-01 84 days 2,524 sqft
    2018-10-01 92 days 2,538 sqft
    2018-11-01 104 days 2,591 sqft
    2018-12-01 117 days 2,550 sqft
    2019-01-01 123 days 2,571 sqft
    2019-02-01 122 days 2,543 sqft
    2019-03-01 107 days 2,480 sqft
    2019-04-01 83 days 2,461 sqft
    2019-05-01 69 days 2,339 sqft
    2019-06-01 64 days 2,349 sqft
    2019-07-01 67 days 2,387 sqft
    2019-08-01 78 days 2,462 sqft
    2019-09-01 87 days 2,470 sqft
    2019-10-01 93 days 2,487 sqft
    2019-11-01 100 days 2,498 sqft
    2019-12-01 117 days 2,527 sqft
    2020-01-01 137 days 2,587 sqft
    2020-02-01 138 days 2,616 sqft
    2020-03-01 117 days 2,518 sqft
    2020-04-01 91 days 2,366 sqft
    2020-05-01 94 days 2,484 sqft
    2020-06-01 91 days 2,498 sqft
    2020-07-01 76 days 2,477 sqft
    2020-08-01 72 days 2,498 sqft
    2020-09-01 84 days 2,481 sqft
    2020-10-01 84 days 2,522 sqft
    2020-11-01 99 days 2,540 sqft
    2020-12-01 111 days 2,441 sqft
    2021-01-01 115 days 2,458 sqft
    2021-02-01 126 days 2,330 sqft
    2021-03-01 100 days 2,405 sqft
    2021-04-01 56 days 2,505 sqft
    2021-05-01 50 days 2,500 sqft
    2021-06-01 50 days 2,495 sqft
    2021-07-01 43 days 2,464 sqft
    2021-08-01 51 days 2,490 sqft
    2021-09-01 64 days 2,495 sqft
    2021-10-01 72 days 2,588 sqft
    2021-11-01 98 days 2,612 sqft
    2021-12-01 104 days 2,696 sqft
    2022-01-01 96 days 2,652 sqft
    2022-02-01 109 days 2,781 sqft
    2022-03-01 49 days 2,758 sqft
    2022-04-01 43 days 2,681 sqft
    2022-05-01 38 days 2,561 sqft
    2022-06-01 37 days 2,496 sqft
    2022-07-01 36 days 2,351 sqft
    2022-08-01 54 days 2,493 sqft
    2022-09-01 59 days 2,495 sqft
    2022-10-01 59 days 2,390 sqft
    2022-11-01 66 days 2,290 sqft
    Santa Fe's median listing age (time on market) for 2022-11-01 was 66 days. This is -33% shorter than the same period one year ago.

    Santa Fe's median square footage for active listings during the 2022-11-01 period was 2,290 sqft. One year prior, the average listing was 2,612 sqft.