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 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 5.91% for the week of 2024-10-11, compared to the national average (all USDA variants) of 6.08% for the same period.

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

The average rate for the prior week (2024-10-04) was 6.01% and one month ago for the week of 2024-09-06, the average rate was 6.09%.

The average rate one year ago was 7.09%.

For refis of the same type during the week of 2024-10-11, the average rate was 5.91%.

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
2024-04-01 $826,000 (5.9%) $1,389,941 (-7.4%) 1.92 429
2024-05-01 $872,000 (-3.9%) $1,427,503 (-8.4%) 1.97 470
2024-06-01 $850,000 (-13.7%) $1,387,892 (-13.8%) 1.91 544
2024-07-01 $827,500 (-14.7%) $1,323,323 (-15.3%) 1.89 606
2024-08-01 $810,000 (-8.6%) $1,297,994 (-11.2%) 1.88 664
2024-09-01 $789,500 (-11.8%) $1,270,297 (-11.5%) 1.86 697
Santa Fe's median listing price for 2024-09-01 was $789,500, a difference of $-105,500 (-11.8%) versus the prior year and $-20,500 versus the prior month.

Santa Fe's median listing price comes in at 186% of the national average.

Santa Fe's average listing price for 2024-09-01 was $1,270,297, a difference of $-165,587 (-11.5%) versus the prior year and $-27,697 versus the prior month.

For the 2024-09-01 period, Santa Fe had 697 MLS listings, a difference of 33 listings (5%) versus the prior month and 228 listings (49%) 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 2,165 sqft
2024-02-01 94 days 2,187 sqft
2024-03-01 84 days 2,369 sqft
2024-04-01 62 days 2,297 sqft
2024-05-01 54 days 2,390 sqft
2024-06-01 51 days 2,277 sqft
2024-07-01 52 days 2,312 sqft
2024-08-01 59 days 2,264 sqft
2024-09-01 65 days 2,252 sqft
Santa Fe's median listing age (time on market) for 2024-09-01 was 65 days. This is 9% longer than the same period one year ago.

Santa Fe's median square footage for active listings during the 2024-09-01 period was 2,252 sqft. One year prior, the average listing was 2,478 sqft.