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 2 lenders originated 2 USDA loans during 2023. The total origination value was $540,000, with an average USDA loan value of $270,000.

    Santa Fe USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Santa Fe averaged 6.7% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Santa Fe's average USDA mortgage closing costs are $6,999.

    The average rate for the prior week (2024-04-12) was 6.45% and one month ago for the week of 2024-03-15, the average rate was 6.73%.

    The average rate one year ago was 6.07%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.79%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CARDINAL FINANCIAL 1 5.38% $8,410
    UNITED WHOLESALE MORTGAGE, LLC 1 6.08% $7,132

    The top Santa Fe USDA lender as defined by loan originations is CARDINAL FINANCIAL, with 1 USDA loans originated. Their average total fees are $8,410, which is $1,278 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    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%) $868,831 (7.6%) 2.09 722
    2018-02-01 $571,500 (8.6%) $879,568 (9.6%) 2.07 698
    2018-03-01 $560,000 (12.0%) $885,150 (12.2%) 1.96 679
    2018-04-01 $575,000 (8.6%) $912,961 (14.0%) 1.95 680
    2018-05-01 $577,000 (4.0%) $914,318 (11.8%) 1.93 726
    2018-06-01 $595,000 (6.5%) $916,069 (11.0%) 1.98 776
    2018-07-01 $598,000 (8.7%) $920,277 (12.7%) 2.00 833
    2018-08-01 $574,250 (3.9%) $894,762 (8.8%) 1.92 902
    2018-09-01 $568,500 (3.6%) $895,327 (10.2%) 1.91 884
    2018-10-01 $575,750 (4.8%) $910,532 (11.6%) 1.95 869
    2018-11-01 $575,000 (4.7%) $913,624 (10.8%) 1.95 828
    2018-12-01 $575,000 (0.0%) $896,224 (2.2%) 1.98 761
    2019-01-01 $591,750 (4.7%) $908,944 (4.6%) 2.04 659
    2019-02-01 $599,250 (4.9%) $901,236 (2.5%) 2.02 627
    2019-03-01 $576,529 (3.0%) $971,511 (9.8%) 1.89 626
    2019-04-01 $552,479 (-3.9%) $964,196 (5.6%) 1.75 649
    2019-05-01 $549,325 (-4.8%) $856,677 (-6.3%) 1.72 699
    2019-06-01 $549,000 (-7.7%) $843,088 (-8.0%) 1.72 799
    2019-07-01 $549,500 (-8.1%) $851,270 (-7.5%) 1.72 805
    2019-08-01 $571,455 (-0.5%) $861,793 (-3.7%) 1.81 793
    2019-09-01 $581,886 (2.4%) $863,087 (-3.6%) 1.86 775
    2019-10-01 $589,000 (2.3%) $863,645 (-5.2%) 1.90 747
    2019-11-01 $595,000 (3.5%) $890,405 (-2.5%) 1.95 662
    2019-12-01 $620,000 (7.8%) $913,078 (1.9%) 2.07 600
    2020-01-01 $623,725 (5.4%) $940,013 (3.4%) 2.08 517
    2020-02-01 $625,000 (4.3%) $973,932 (8.1%) 2.05 464
    2020-03-01 $616,750 (7.0%) $960,567 (-1.1%) 1.93 462
    2020-04-01 $577,379 (4.5%) $921,505 (-4.4%) 1.81 511
    2020-05-01 $598,500 (9.0%) $945,711 (10.4%) 1.82 518
    2020-06-01 $622,000 (13.3%) $942,125 (11.8%) 1.83 544
    2020-07-01 $637,000 (15.9%) $1,003,541 (17.9%) 1.85 555
    2020-08-01 $639,000 (11.8%) $1,003,776 (16.5%) 1.83 554
    2020-09-01 $675,000 (16.0%) $1,112,602 (28.9%) 1.93 508
    2020-10-01 $677,000 (14.9%) $1,145,065 (32.6%) 1.94 479
    2020-11-01 $656,750 (10.4%) $1,202,295 (35.0%) 1.92 437
    2020-12-01 $659,225 (6.3%) $1,189,302 (30.3%) 1.96 401
    2021-01-01 $645,000 (3.4%) $1,209,812 (28.7%) 1.93 339
    2021-02-01 $612,000 (-2.1%) $1,236,697 (27.0%) 1.78 302
    2021-03-01 $636,500 (3.2%) $1,332,028 (38.7%) 1.81 264
    2021-04-01 $685,750 (18.8%) $1,381,954 (50.0%) 1.86 260
    2021-05-01 $692,000 (15.6%) $1,326,373 (40.3%) 1.84 276
    2021-06-01 $689,000 (10.8%) $1,279,045 (35.8%) 1.81 286
    2021-07-01 $675,000 (6.0%) $1,276,725 (27.2%) 1.78 347
    2021-08-01 $689,000 (7.8%) $1,274,457 (27.0%) 1.84 372
    2021-09-01 $695,500 (3.0%) $1,322,506 (18.9%) 1.85 353
    2021-10-01 $691,000 (2.1%) $1,368,468 (19.5%) 1.84 316
    2021-11-01 $706,225 (7.5%) $1,499,424 (24.7%) 1.89 247
    2021-12-01 $695,000 (5.4%) $1,514,168 (27.3%) 1.88 221
    2022-01-01 $719,900 (11.6%) $1,604,392 (32.6%) 1.95 187
    2022-02-01 $872,998 (42.7%) $1,751,586 (41.6%) 2.27 155
    2022-03-01 $841,000 (32.1%) $1,745,104 (31.0%) 2.11 171
    2022-04-01 $797,450 (16.3%) $1,670,391 (20.9%) 1.90 175
    2022-05-01 $786,750 (13.7%) $1,529,732 (15.3%) 1.80 239
    2022-06-01 $797,550 (15.8%) $1,460,637 (14.2%) 1.78 297
    2022-07-01 $782,000 (15.9%) $1,408,114 (10.3%) 1.76 371
    2022-08-01 $849,500 (23.3%) $1,491,494 (17.0%) 1.96 372
    2022-09-01 $847,500 (21.9%) $1,459,176 (10.3%) 1.98 383
    2022-10-01 $775,000 (12.2%) $1,421,887 (3.9%) 1.82 414
    2022-11-01 $738,500 (4.6%) $1,394,531 (-7.0%) 1.78 428
    2022-12-01 $767,615 (10.5%) $1,444,784 (-4.6%) 1.90 406
    2023-01-01 $747,500 (3.8%) $1,437,995 (-10.4%) 1.85 356
    2023-02-01 $739,975 (-15.2%) $1,450,682 (-17.2%) 1.79 342
    2023-03-01 $756,500 (-10.1%) $1,507,545 (-13.6%) 1.78 323
    2023-04-01 $779,750 (-2.2%) $1,500,215 (-10.2%) 1.81 330
    2023-05-01 $907,000 (15.3%) $1,557,970 (1.9%) 2.06 346
    2023-06-01 $985,000 (23.5%) $1,609,358 (10.2%) 2.21 363
    2023-07-01 $969,950 (24.0%) $1,562,229 (10.9%) 2.20 408
    2023-08-01 $886,000 (4.3%) $1,462,082 (-2.0%) 2.03 438
    2023-09-01 $895,000 (5.6%) $1,435,884 (-1.6%) 2.08 469
    2023-10-01 $850,000 (9.7%) $1,400,568 (-1.5%) 2.00 492
    2023-11-01 $830,000 (12.4%) $1,393,275 (-0.1%) 1.98 505
    2023-12-01 $822,500 (7.2%) $1,368,357 (-5.3%) 2.01 457
    2024-01-01 $814,800 (9.0%) $1,345,703 (-6.4%) 1.99 394
    2024-02-01 $799,450 (8.0%) $1,382,076 (-4.7%) 1.92 387
    2024-03-01 $845,000 (11.7%) $1,408,584 (-6.6%) 1.99 380
    Santa Fe's median listing price for 2024-03-01 was $845,000, a difference of $88,500 (11.7%) versus the prior year and $45,550 versus the prior month.

    Santa Fe's median listing price comes in at 199% of the national average.

    Santa Fe's average listing price for 2024-03-01 was $1,408,584, a difference of $-98,961 (-6.6%) versus the prior year and $26,508 versus the prior month.

    For the 2024-03-01 period, Santa Fe had 380 MLS listings, a difference of -7 listings (-2%) versus the prior month and 57 listings (18%) 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
    2018-01-01 127 days 2,544 sqft
    2018-02-01 116 days 2,562 sqft
    2018-03-01 91 days 2,600 sqft
    2018-04-01 67 days 2,600 sqft
    2018-05-01 58 days 2,567 sqft
    2018-06-01 57 days 2,560 sqft
    2018-07-01 58 days 2,571 sqft
    2018-08-01 62 days 2,550 sqft
    2018-09-01 72 days 2,524 sqft
    2018-10-01 81 days 2,539 sqft
    2018-11-01 90 days 2,591 sqft
    2018-12-01 99 days 2,550 sqft
    2019-01-01 113 days 2,570 sqft
    2019-02-01 109 days 2,541 sqft
    2019-03-01 88 days 2,484 sqft
    2019-04-01 72 days 2,465 sqft
    2019-05-01 55 days 2,348 sqft
    2019-06-01 56 days 2,350 sqft
    2019-07-01 59 days 2,383 sqft
    2019-08-01 67 days 2,452 sqft
    2019-09-01 74 days 2,474 sqft
    2019-10-01 78 days 2,496 sqft
    2019-11-01 89 days 2,500 sqft
    2019-12-01 100 days 2,551 sqft
    2020-01-01 115 days 2,597 sqft
    2020-02-01 113 days 2,605 sqft
    2020-03-01 82 days 2,515 sqft
    2020-04-01 72 days 2,368 sqft
    2020-05-01 79 days 2,467 sqft
    2020-06-01 75 days 2,497 sqft
    2020-07-01 58 days 2,472 sqft
    2020-08-01 61 days 2,498 sqft
    2020-09-01 68 days 2,510 sqft
    2020-10-01 72 days 2,556 sqft
    2020-11-01 80 days 2,563 sqft
    2020-12-01 90 days 2,469 sqft
    2021-01-01 99 days 2,513 sqft
    2021-02-01 105 days 2,340 sqft
    2021-03-01 69 days 2,441 sqft
    2021-04-01 44 days 2,566 sqft
    2021-05-01 42 days 2,501 sqft
    2021-06-01 46 days 2,499 sqft
    2021-07-01 39 days 2,495 sqft
    2021-08-01 46 days 2,495 sqft
    2021-09-01 58 days 2,496 sqft
    2021-10-01 65 days 2,560 sqft
    2021-11-01 91 days 2,614 sqft
    2021-12-01 90 days 2,687 sqft
    2022-01-01 88 days 2,738 sqft
    2022-02-01 99 days 2,813 sqft
    2022-03-01 44 days 2,754 sqft
    2022-04-01 39 days 2,688 sqft
    2022-05-01 35 days 2,549 sqft
    2022-06-01 34 days 2,481 sqft
    2022-07-01 33 days 2,339 sqft
    2022-08-01 50 days 2,460 sqft
    2022-09-01 53 days 2,495 sqft
    2022-10-01 56 days 2,388 sqft
    2022-11-01 64 days 2,283 sqft
    2022-12-01 73 days 2,380 sqft
    2023-01-01 84 days 2,355 sqft
    2023-02-01 82 days 2,328 sqft
    2023-03-01 71 days 2,353 sqft
    2023-04-01 67 days 2,337 sqft
    2023-05-01 56 days 2,435 sqft
    2023-06-01 55 days 2,564 sqft
    2023-07-01 47 days 2,541 sqft
    2023-08-01 54 days 2,428 sqft
    2023-09-01 59 days 2,478 sqft
    2023-10-01 61 days 2,399 sqft
    2023-11-01 68 days 2,347 sqft
    2023-12-01 73 days 2,295 sqft
    2024-01-01 89 days 2,167 sqft
    2024-02-01 94 days 2,191 sqft
    2024-03-01 84 days 2,378 sqft
    Santa Fe's median listing age (time on market) for 2024-03-01 was 84 days. This is 19% longer than the same period one year ago.

    Santa Fe's median square footage for active listings during the 2024-03-01 period was 2,378 sqft. One year prior, the average listing was 2,353 sqft.