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%.

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 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 for 2022-04-01 was $820,000, a difference of $70,000 (9.3%) versus the prior year and $-59,000 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 42 days. This is -21% shorter than the same period one year ago.

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.