Santa Fe USDA Loans
SANTA FE, NM
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
5.42%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.36% and
one month ago for the week of 2022-04-08, the
average rate was 4.92%.
The average rate one year ago was 3.23%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.09%.
Santa Fe 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 Fe level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| 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 | $575,000 (4.7%) | $883,618 (8.4%) | 2.12 | 716 |
| 2018-02-01 | $577,000 (7.9%) | $889,143 (9.7%) | 2.08 | 700 |
| 2018-03-01 | $575,000 (11.2%) | $906,331 (13.4%) | 1.99 | 675 |
| 2018-04-01 | $582,500 (7.9%) | $938,115 (15.7%) | 1.95 | 682 |
| 2018-05-01 | $587,500 (3.6%) | $933,018 (12.6%) | 1.96 | 734 |
| 2018-06-01 | $598,000 (5.8%) | $930,204 (11.9%) | 1.99 | 785 |
| 2018-07-01 | $599,000 (8.9%) | $930,072 (13.2%) | 2.00 | 844 |
| 2018-08-01 | $577,000 (2.8%) | $902,431 (9.1%) | 1.93 | 915 |
| 2018-09-01 | $569,000 (3.6%) | $902,705 (10.7%) | 1.90 | 898 |
| 2018-10-01 | $577,000 (4.9%) | $917,523 (11.4%) | 1.93 | 877 |
| 2018-11-01 | $579,500 (5.4%) | $922,391 (10.6%) | 1.94 | 830 |
| 2018-12-01 | $585,000 (0.0%) | $907,499 (1.5%) | 2.00 | 757 |
| 2019-01-01 | $599,000 (4.2%) | $925,077 (4.7%) | 2.07 | 643 |
| 2019-02-01 | $613,000 (6.2%) | $918,356 (3.3%) | 2.05 | 612 |
| 2019-03-01 | $584,857 (1.7%) | $902,294 (-0.5%) | 1.91 | 614 |
| 2019-04-01 | $561,357 (-3.6%) | $890,681 (-5.1%) | 1.77 | 641 |
| 2019-05-01 | $552,000 (-6.0%) | $862,678 (-7.5%) | 1.70 | 695 |
| 2019-06-01 | $549,000 (-8.2%) | $846,540 (-9.0%) | 1.69 | 799 |
| 2019-07-01 | $549,500 (-8.3%) | $858,803 (-7.7%) | 1.71 | 797 |
| 2019-08-01 | $583,514 (1.1%) | $886,191 (-1.8%) | 1.84 | 782 |
| 2019-09-01 | $591,064 (3.9%) | $897,289 (-0.6%) | 1.88 | 766 |
| 2019-10-01 | $595,000 (3.1%) | $878,592 (-4.2%) | 1.90 | 752 |
| 2019-11-01 | $599,000 (3.4%) | $922,899 (0.1%) | 1.93 | 663 |
| 2019-12-01 | $649,000 (10.9%) | $954,980 (5.2%) | 2.16 | 594 |
| 2020-01-01 | $647,500 (8.1%) | $979,875 (5.9%) | 2.16 | 515 |
| 2020-02-01 | $659,000 (7.5%) | $1,039,188 (13.2%) | 2.13 | 459 |
| 2020-03-01 | $654,000 (11.8%) | $1,018,719 (12.9%) | 2.04 | 457 |
| 2020-04-01 | $599,000 (6.7%) | $976,052 (9.6%) | 1.87 | 501 |
| 2020-05-01 | $649,500 (17.7%) | $1,001,218 (16.1%) | 1.97 | 505 |
| 2020-06-01 | $650,000 (18.4%) | $1,004,852 (18.7%) | 1.90 | 534 |
| 2020-07-01 | $668,500 (21.7%) | $1,053,710 (22.7%) | 1.92 | 537 |
| 2020-08-01 | $665,000 (14.0%) | $1,081,678 (22.1%) | 1.90 | 538 |
| 2020-09-01 | $735,000 (24.4%) | $1,251,572 (39.5%) | 2.10 | 496 |
| 2020-10-01 | $739,500 (24.3%) | $1,268,146 (44.3%) | 2.11 | 473 |
| 2020-11-01 | $700,000 (16.9%) | $1,260,656 (36.6%) | 2.00 | 444 |
| 2020-12-01 | $693,500 (6.9%) | $1,247,653 (30.7%) | 2.03 | 401 |
| 2021-01-01 | $675,000 (4.3%) | $1,266,973 (29.3%) | 1.99 | 340 |
| 2021-02-01 | $649,950 (-1.4%) | $1,303,722 (25.5%) | 1.87 | 296 |
| 2021-03-01 | $664,500 (1.6%) | $1,397,613 (37.2%) | 1.86 | 265 |
| 2021-04-01 | $750,000 (25.2%) | $1,393,561 (42.8%) | 2.02 | 258 |
| 2021-05-01 | $665,000 (2.4%) | $1,336,065 (33.4%) | 1.75 | 277 |
| 2021-06-01 | $685,000 (5.4%) | $1,273,848 (26.8%) | 1.78 | 290 |
| 2021-07-01 | $694,000 (3.8%) | $1,283,174 (21.8%) | 1.80 | 343 |
| 2021-08-01 | $697,500 (4.9%) | $1,309,752 (21.1%) | 1.83 | 369 |
| 2021-09-01 | $697,500 (-5.1%) | $1,344,578 (7.4%) | 1.84 | 353 |
| 2021-10-01 | $700,000 (-5.3%) | $1,424,668 (12.3%) | 1.84 | 301 |
| 2021-11-01 | $749,500 (7.1%) | $1,521,688 (20.7%) | 1.98 | 242 |
| 2021-12-01 | $722,500 (4.2%) | $1,528,017 (22.5%) | 1.93 | 219 |
| 2022-01-01 | $740,000 (9.6%) | $1,617,969 (27.7%) | 1.97 | 187 |
| 2022-02-01 | $967,500 (48.9%) | $1,820,375 (39.6%) | 2.47 | 145 |
| 2022-03-01 | $879,000 (32.3%) | $1,779,352 (27.3%) | 2.17 | 166 |
| 2022-04-01 | $820,000 (9.3%) | $1,702,045 (22.1%) | 1.93 | 166 |
Santa Fe's median listing price comes in at 193% of the national average.
Santa Fe's average listing price for 2022-04-01 was $1,702,045, a difference of $308,484 (22.1%) versus the prior year and $-77,307 versus the prior month.
For the 2022-04-01 period, Santa Fe had 166 MLS listings, a difference of 0 listings (0%) versus the prior month and -92 listings (-36%) 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 | 2,547 sqft |
| 2018-02-01 | 139 days | 2,572 sqft |
| 2018-03-01 | 122 days | 2,635 sqft |
| 2018-04-01 | 83 days | 2,623 sqft |
| 2018-05-01 | 68 days | 2,595 sqft |
| 2018-06-01 | 65 days | 2,572 sqft |
| 2018-07-01 | 65 days | 2,594 sqft |
| 2018-08-01 | 70 days | 2,560 sqft |
| 2018-09-01 | 82 days | 2,537 sqft |
| 2018-10-01 | 91 days | 2,572 sqft |
| 2018-11-01 | 102 days | 2,603 sqft |
| 2018-12-01 | 116 days | 2,577 sqft |
| 2019-01-01 | 122 days | 2,601 sqft |
| 2019-02-01 | 122 days | 2,575 sqft |
| 2019-03-01 | 113 days | 2,517 sqft |
| 2019-04-01 | 79 days | 2,499 sqft |
| 2019-05-01 | 66 days | 2,361 sqft |
| 2019-06-01 | 61 days | 2,384 sqft |
| 2019-07-01 | 65 days | 2,392 sqft |
| 2019-08-01 | 77 days | 2,489 sqft |
| 2019-09-01 | 88 days | 2,525 sqft |
| 2019-10-01 | 85 days | 2,547 sqft |
| 2019-11-01 | 92 days | 2,534 sqft |
| 2019-12-01 | 108 days | 2,600 sqft |
| 2020-01-01 | 125 days | 2,650 sqft |
| 2020-02-01 | 121 days | 2,746 sqft |
| 2020-03-01 | 101 days | 2,637 sqft |
| 2020-04-01 | 79 days | 2,507 sqft |
| 2020-05-01 | 84 days | 2,600 sqft |
| 2020-06-01 | 78 days | 2,580 sqft |
| 2020-07-01 | 60 days | 2,588 sqft |
| 2020-08-01 | 63 days | 2,590 sqft |
| 2020-09-01 | 67 days | 2,667 sqft |
| 2020-10-01 | 67 days | 2,677 sqft |
| 2020-11-01 | 78 days | 2,672 sqft |
| 2020-12-01 | 88 days | 2,618 sqft |
| 2021-01-01 | 103 days | 2,616 sqft |
| 2021-02-01 | 105 days | 2,615 sqft |
| 2021-03-01 | 73 days | 2,608 sqft |
| 2021-04-01 | 54 days | 2,603 sqft |
| 2021-05-01 | 46 days | 2,600 sqft |
| 2021-06-01 | 48 days | 2,499 sqft |
| 2021-07-01 | 42 days | 2,495 sqft |
| 2021-08-01 | 45 days | 2,498 sqft |
| 2021-09-01 | 50 days | 2,519 sqft |
| 2021-10-01 | 60 days | 2,655 sqft |
| 2021-11-01 | 70 days | 2,667 sqft |
| 2021-12-01 | 64 days | 2,781 sqft |
| 2022-01-01 | 76 days | 2,785 sqft |
| 2022-02-01 | 80 days | 2,798 sqft |
| 2022-03-01 | 47 days | 2,802 sqft |
| 2022-04-01 | 42 days | 2,705 sqft |
Santa Fe's median square footage for active listings during the 2022-04-01 period was 2,705 sqft. One year prior, the average listing was 2,603 sqft.
