Santa Maria USDA Loans

SANTA MARIA-SANTA BARBARA, CA

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 Maria's 10 lenders originated 18 USDA loans during 2021. The total origination value was $7,380,000, with an average USDA loan value of $410,000.

Santa Maria USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Santa Maria averaged 5.35% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.24% and one month ago for the week of 2022-04-15, the average rate was 5.13%.

The average rate one year ago was 3.28%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.89%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Santa Maria 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 Maria level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GUILD MORTGAGE COMPANY 3 2.54% $9,843
LOANDEPOT.COM, LLC 2 2.81% $8,150
HOME POINT FINANCIAL CORPORATION 1 2.25% $13,081
LAKEVIEW LOAN SERVICING, LLC 1 2.63% $5,648
Paramount Residential Mortgage Group, Inc. 1 2.75% $4,035
PENNYMAC LOAN SERVICES, LLC 1 2.88% $15,197
UNITED WHOLESALE MORTGAGE, LLC 1 2.63% $12,194
BNC National Bank 1 2.25% $6,534
Wells Fargo Bank 1 2.25% $4,640
CORNERSTONE HOME LENDING, INC. 1 2.63% $9,543

The top Santa Maria USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 3 USDA loans originated. Their average total fees are $9,843, which is $1,693 higher than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Santa Maria USDA lenders (with over 10 loans originated) are .

The lowest rate Santa Maria USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Santa Maria (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 $968,000 (-16.7%) $3,085,926 (-6.2%) 3.56 1,029
2018-02-01 $1,013,500 (-15.5%) $3,116,840 (-7.4%) 3.66 1,073
2018-03-01 $975,000 (-23.2%) $2,862,015 (-15.9%) 3.37 1,166
2018-04-01 $1,012,500 (-21.8%) $2,691,424 (-17.5%) 3.40 1,305
2018-05-01 $984,500 (-15.0%) $2,546,804 (-17.3%) 3.28 1,429
2018-06-01 $999,000 (-9.1%) $2,494,348 (-18.5%) 3.33 1,506
2018-07-01 $1,039,000 (-5.6%) $2,516,833 (-17.4%) 3.46 1,570
2018-08-01 $979,500 (-1.9%) $2,457,229 (-19.0%) 3.27 1,574
2018-09-01 $969,000 (-3.1%) $2,465,400 (-20.8%) 3.24 1,579
2018-10-01 $972,000 (-11.5%) $2,522,777 (-19.7%) 3.25 1,556
2018-11-01 $975,000 (-2.4%) $2,552,275 (-19.2%) 3.27 1,556
2018-12-01 $979,000 (0.4%) $2,624,985 (-18.8%) 3.35 1,440
2019-01-01 $950,000 (-1.9%) $2,565,229 (-16.9%) 3.28 1,322
2019-02-01 $939,000 (-7.4%) $2,514,003 (-19.3%) 3.15 1,251
2019-03-01 $992,429 (1.8%) $2,754,294 (-3.8%) 3.23 1,283
2019-04-01 $1,082,000 (6.9%) $2,815,115 (4.6%) 3.41 1,372
2019-05-01 $1,107,500 (12.5%) $2,867,902 (12.6%) 3.41 1,489
2019-06-01 $1,149,000 (15.0%) $2,962,512 (18.8%) 3.54 1,500
2019-07-01 $1,249,950 (20.3%) $3,050,407 (21.2%) 3.88 1,505
2019-08-01 $1,271,000 (29.8%) $3,138,502 (27.7%) 4.00 1,465
2019-09-01 $1,295,500 (33.7%) $3,234,170 (31.2%) 4.11 1,432
2019-10-01 $1,262,000 (29.8%) $3,214,760 (27.4%) 4.03 1,366
2019-11-01 $1,295,000 (32.8%) $3,262,875 (27.8%) 4.18 1,272
2019-12-01 $1,297,000 (32.5%) $3,466,301 (32.1%) 4.32 1,093
2020-01-01 $1,372,500 (44.5%) $3,592,424 (40.0%) 4.58 938
2020-02-01 $1,535,000 (63.5%) $3,791,744 (50.8%) 4.95 930
2020-03-01 $1,750,000 (76.3%) $3,776,368 (37.1%) 5.47 964
2020-04-01 $1,461,000 (35.0%) $3,450,550 (22.6%) 4.55 973
2020-05-01 $1,350,000 (21.9%) $3,323,253 (15.9%) 4.09 1,042
2020-06-01 $1,471,000 (28.0%) $3,390,174 (14.4%) 4.30 986
2020-07-01 $1,596,500 (27.7%) $3,664,277 (20.1%) 4.57 880
2020-08-01 $1,795,000 (41.2%) $3,926,551 (25.1%) 5.13 826
2020-09-01 $2,022,000 (56.1%) $4,354,281 (34.6%) 5.78 753
2020-10-01 $1,895,000 (50.2%) $4,377,815 (36.2%) 5.41 692
2020-11-01 $2,125,000 (64.1%) $4,764,115 (46.0%) 6.08 664
2020-12-01 $2,087,500 (61.0%) $4,976,904 (43.6%) 6.12 571
2021-01-01 $2,185,000 (59.2%) $5,129,861 (42.8%) 6.43 487
2021-02-01 $1,798,000 (17.1%) $4,798,050 (26.5%) 5.17 481
2021-03-01 $1,922,500 (9.9%) $5,412,007 (43.3%) 5.39 438
2021-04-01 $1,835,000 (25.6%) $5,260,241 (52.5%) 4.93 421
2021-05-01 $1,395,000 (3.3%) $5,080,682 (52.9%) 3.67 411
2021-06-01 $1,395,000 (-5.2%) $5,010,583 (47.8%) 3.62 475
2021-07-01 $1,237,500 (-22.5%) $5,077,384 (38.6%) 3.21 493
2021-08-01 $1,266,000 (-29.5%) $5,785,297 (47.3%) 3.33 487
2021-09-01 $1,410,000 (-30.3%) $5,836,507 (34.0%) 3.71 468
2021-10-01 $1,325,000 (-30.1%) $6,520,036 (48.9%) 3.49 432
2021-11-01 $1,392,500 (-34.5%) $6,604,272 (38.6%) 3.67 401
2021-12-01 $1,397,000 (-33.1%) $6,766,062 (36.0%) 3.73 373
2022-01-01 $1,495,000 (-31.6%) $6,945,975 (35.4%) 3.99 311
2022-02-01 $1,625,000 (-9.6%) $6,757,804 (40.8%) 4.14 292
2022-03-01 $1,497,500 (-22.1%) $6,912,830 (27.7%) 3.70 323
2022-04-01 $1,450,000 (-21.0%) $6,590,594 (25.3%) 3.41 356
Santa Maria's median listing price for 2022-04-01 was $1,450,000, a difference of $-385,000 (-21.0%) versus the prior year and $-47,500 versus the prior month.

Santa Maria's median listing price comes in at 341% of the national average.

Santa Maria's average listing price for 2022-04-01 was $6,590,594, a difference of $1,330,353 (25.3%) versus the prior year and $-322,236 versus the prior month.

For the 2022-04-01 period, Santa Maria had 356 MLS listings, a difference of 33 listings (10%) versus the prior month and -65 listings (-15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Santa Maria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 89 days 2,152 sqft
2018-02-01 73 days 2,193 sqft
2018-03-01 49 days 2,169 sqft
2018-04-01 49 days 2,167 sqft
2018-05-01 50 days 2,146 sqft
2018-06-01 57 days 2,144 sqft
2018-07-01 60 days 2,072 sqft
2018-08-01 63 days 2,036 sqft
2018-09-01 67 days 2,011 sqft
2018-10-01 72 days 2,008 sqft
2018-11-01 71 days 2,011 sqft
2018-12-01 84 days 2,044 sqft
2019-01-01 89 days 2,057 sqft
2019-02-01 85 days 2,045 sqft
2019-03-01 74 days 2,070 sqft
2019-04-01 58 days 2,108 sqft
2019-05-01 52 days 2,128 sqft
2019-06-01 58 days 2,159 sqft
2019-07-01 69 days 2,254 sqft
2019-08-01 73 days 2,260 sqft
2019-09-01 75 days 2,270 sqft
2019-10-01 73 days 2,287 sqft
2019-11-01 77 days 2,304 sqft
2019-12-01 88 days 2,284 sqft
2020-01-01 96 days 2,353 sqft
2020-02-01 93 days 2,413 sqft
2020-03-01 59 days 2,453 sqft
2020-04-01 68 days 2,293 sqft
2020-05-01 72 days 2,353 sqft
2020-06-01 56 days 2,335 sqft
2020-07-01 60 days 2,319 sqft
2020-08-01 53 days 2,305 sqft
2020-09-01 48 days 2,466 sqft
2020-10-01 50 days 2,398 sqft
2020-11-01 56 days 2,482 sqft
2020-12-01 58 days 2,437 sqft
2021-01-01 64 days 2,371 sqft
2021-02-01 45 days 2,111 sqft
2021-03-01 38 days 2,203 sqft
2021-04-01 35 days 2,176 sqft
2021-05-01 32 days 2,085 sqft
2021-06-01 24 days 2,049 sqft
2021-07-01 28 days 2,102 sqft
2021-08-01 31 days 2,170 sqft
2021-09-01 32 days 2,139 sqft
2021-10-01 35 days 2,127 sqft
2021-11-01 35 days 2,194 sqft
2021-12-01 44 days 2,148 sqft
2022-01-01 50 days 2,100 sqft
2022-02-01 35 days 2,178 sqft
2022-03-01 22 days 2,017 sqft
2022-04-01 24 days 2,030 sqft
Santa Maria's median listing age (time on market) for 2022-04-01 was 24 days. This is -30% shorter than the same period one year ago.

Santa Maria's median square footage for active listings during the 2022-04-01 period was 2,030 sqft. One year prior, the average listing was 2,176 sqft.