Santa Fe USDA Loan Rates, Closing Costs & Stats

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 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.