Santa Maria USDA Loan Rates, Closing Costs & Stats

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 3 lenders originated 8 USDA loans during 2022. The total origination value was $4,240,000, with an average USDA loan value of $530,000.

Santa Maria USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Santa Maria averaged 5.74% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Santa Maria's average USDA mortgage closing costs are $9,625.

The average rate for the prior week (2023-05-19) was 5.88% and one month ago for the week of 2023-04-21, the average rate was 5.79%.

The average rate one year ago was 4.41%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.8%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Maria level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
LOANDEPOT.COM, LLC 5 3.40% $11,737
GUILD MORTGAGE COMPANY 2 3.94% $13,765
EVERETT FINANCIAL, INC. 1 3.50% $7,733

The top Santa Maria USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 5 USDA loans originated. Their average total fees are $11,737, which is $2,028 lower than the next largest lender, GUILD MORTGAGE COMPANY.

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 $993,000 (-9.4%) $3,110,227 (3.8%) 3.68 749
2018-02-01 $1,088,750 (0.1%) $3,110,107 (2.0%) 3.96 784
2018-03-01 $999,000 (-11.4%) $2,883,456 (-8.3%) 3.51 849
2018-04-01 $1,049,250 (-12.5%) $2,705,619 (-15.9%) 3.56 944
2018-05-01 $1,043,000 (-12.0%) $2,580,283 (-17.2%) 3.48 1,031
2018-06-01 $1,049,000 (-6.8%) $2,466,002 (-21.0%) 3.50 1,100
2018-07-01 $1,088,000 (-4.3%) $2,477,554 (-20.3%) 3.63 1,142
2018-08-01 $997,748 (-1.6%) $2,402,452 (-21.4%) 3.34 1,158
2018-09-01 $995,000 (-0.5%) $2,424,501 (-22.5%) 3.34 1,149
2018-10-01 $995,000 (-9.1%) $2,449,067 (-22.2%) 3.37 1,113
2018-11-01 $986,500 (-7.7%) $2,483,975 (-22.5%) 3.34 1,113
2018-12-01 $975,000 (-2.4%) $2,576,667 (-22.0%) 3.36 1,012
2019-01-01 $957,500 (-3.6%) $2,522,925 (-18.9%) 3.31 956
2019-02-01 $944,500 (-13.3%) $2,556,480 (-17.8%) 3.19 895
2019-03-01 $895,000 (-10.4%) $2,867,519 (-0.6%) 2.98 765
2019-04-01 $1,100,000 (4.8%) $2,785,514 (3.0%) 3.49 973
2019-05-01 $1,147,000 (10.0%) $2,816,770 (9.2%) 3.58 1,042
2019-06-01 $1,175,000 (12.0%) $2,908,717 (18.0%) 3.67 1,050
2019-07-01 $1,241,975 (14.2%) $2,920,730 (17.9%) 3.89 1,058
2019-08-01 $1,289,000 (29.2%) $3,098,880 (29.0%) 4.04 1,055
2019-09-01 $1,398,250 (40.5%) $3,366,084 (38.8%) 4.41 950
2019-10-01 $1,275,000 (28.1%) $3,167,768 (29.4%) 4.11 970
2019-11-01 $1,349,450 (36.8%) $3,257,299 (31.1%) 4.42 904
2019-12-01 $1,338,500 (37.3%) $3,435,683 (33.3%) 4.46 763
2020-01-01 $1,387,500 (44.9%) $3,566,971 (41.4%) 4.64 678
2020-02-01 $1,495,000 (58.3%) $3,671,847 (43.6%) 4.90 678
2020-03-01 $1,578,000 (76.3%) $3,635,533 (26.8%) 4.95 705
2020-04-01 $1,397,750 (27.1%) $3,317,297 (19.1%) 4.38 711
2020-05-01 $1,350,000 (17.7%) $3,170,821 (12.6%) 4.10 766
2020-06-01 $1,485,000 (26.4%) $3,331,976 (14.6%) 4.37 727
2020-07-01 $1,575,000 (26.8%) $3,562,261 (22.0%) 4.57 653
2020-08-01 $1,735,000 (34.6%) $3,840,069 (23.9%) 4.97 612
2020-09-01 $1,850,000 (32.3%) $4,131,168 (22.7%) 5.30 562
2020-10-01 $1,811,750 (42.1%) $4,124,077 (30.2%) 5.19 516
2020-11-01 $1,811,750 (34.3%) $4,379,570 (34.5%) 5.30 461
2020-12-01 $1,828,750 (36.6%) $4,508,722 (31.2%) 5.44 406
2021-01-01 $1,875,000 (35.1%) $4,767,634 (33.7%) 5.60 343
2021-02-01 $1,597,500 (6.9%) $4,409,100 (20.1%) 4.64 336
2021-03-01 $1,680,000 (6.5%) $5,031,699 (38.4%) 4.77 310
2021-04-01 $1,523,000 (9.0%) $4,628,793 (39.5%) 4.12 301
2021-05-01 $1,395,000 (3.3%) $4,535,119 (43.0%) 3.70 295
2021-06-01 $1,297,250 (-12.6%) $4,418,558 (32.6%) 3.41 342
2021-07-01 $1,200,000 (-23.8%) $4,532,433 (27.2%) 3.17 347
2021-08-01 $1,196,000 (-31.1%) $5,126,322 (33.5%) 3.19 333
2021-09-01 $1,326,000 (-28.3%) $5,071,788 (22.8%) 3.54 323
2021-10-01 $1,270,000 (-29.9%) $5,572,701 (35.1%) 3.39 302
2021-11-01 $1,313,500 (-27.5%) $5,674,530 (29.6%) 3.51 274
2021-12-01 $1,292,500 (-29.3%) $5,583,833 (23.9%) 3.50 256
2022-01-01 $1,330,000 (-29.1%) $5,791,123 (21.5%) 3.60 222
2022-02-01 $1,474,750 (-7.7%) $5,289,702 (20.0%) 3.84 206
2022-03-01 $1,347,500 (-19.8%) $5,602,950 (11.4%) 3.37 228
2022-04-01 $1,399,000 (-8.1%) $5,518,577 (19.2%) 3.33 245
2022-05-01 $1,434,750 (2.9%) $5,112,663 (12.7%) 3.28 312
2022-06-01 $1,372,500 (5.8%) $4,982,731 (12.8%) 3.06 364
2022-07-01 $1,200,000 (0.0%) $4,231,033 (-6.7%) 2.71 492
2022-08-01 $1,269,250 (6.1%) $4,402,294 (-14.1%) 2.93 489
2022-09-01 $1,255,750 (-5.3%) $4,142,134 (-18.3%) 2.94 462
2022-10-01 $1,150,000 (-9.5%) $3,782,690 (-32.1%) 2.71 439
2022-11-01 $1,272,500 (-3.1%) $3,617,961 (-36.2%) 3.06 411
2022-12-01 $1,175,000 (-9.1%) $3,711,883 (-33.5%) 2.90 345
2023-01-01 $1,250,000 (-6.0%) $3,740,501 (-35.4%) 3.09 284
2023-02-01 $1,343,750 (-8.9%) $3,922,010 (-25.9%) 3.24 283
2023-03-01 $1,513,250 (12.3%) $4,347,494 (-22.4%) 3.56 261
2023-04-01 $1,895,000 (35.5%) $4,548,802 (-17.6%) 4.41 247
Santa Maria's median listing price for 2023-04-01 was $1,895,000, a difference of $496,000 (35.5%) versus the prior year and $381,750 versus the prior month.

Santa Maria's median listing price comes in at 441% of the national average.

Santa Maria's average listing price for 2023-04-01 was $4,548,802, a difference of $-969,775 (-17.6%) versus the prior year and $201,308 versus the prior month.

For the 2023-04-01 period, Santa Maria had 247 MLS listings, a difference of -14 listings (-5%) versus the prior month and 2 listings (1%) 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 93 days 2,109 sqft
2018-02-01 77 days 2,120 sqft
2018-03-01 50 days 2,085 sqft
2018-04-01 49 days 2,086 sqft
2018-05-01 51 days 2,046 sqft
2018-06-01 56 days 2,038 sqft
2018-07-01 60 days 2,017 sqft
2018-08-01 64 days 1,995 sqft
2018-09-01 68 days 2,000 sqft
2018-10-01 73 days 1,999 sqft
2018-11-01 74 days 2,000 sqft
2018-12-01 87 days 2,023 sqft
2019-01-01 92 days 2,034 sqft
2019-02-01 92 days 2,039 sqft
2019-03-01 88 days 2,089 sqft
2019-04-01 60 days 2,068 sqft
2019-05-01 55 days 2,088 sqft
2019-06-01 60 days 2,112 sqft
2019-07-01 71 days 2,169 sqft
2019-08-01 80 days 2,222 sqft
2019-09-01 85 days 2,326 sqft
2019-10-01 77 days 2,257 sqft
2019-11-01 81 days 2,281 sqft
2019-12-01 93 days 2,284 sqft
2020-01-01 99 days 2,312 sqft
2020-02-01 94 days 2,360 sqft
2020-03-01 62 days 2,366 sqft
2020-04-01 68 days 2,206 sqft
2020-05-01 72 days 2,238 sqft
2020-06-01 60 days 2,263 sqft
2020-07-01 65 days 2,281 sqft
2020-08-01 59 days 2,287 sqft
2020-09-01 52 days 2,348 sqft
2020-10-01 57 days 2,363 sqft
2020-11-01 62 days 2,398 sqft
2020-12-01 69 days 2,344 sqft
2021-01-01 68 days 2,210 sqft
2021-02-01 46 days 1,975 sqft
2021-03-01 37 days 2,092 sqft
2021-04-01 33 days 2,067 sqft
2021-05-01 29 days 2,000 sqft
2021-06-01 23 days 1,935 sqft
2021-07-01 32 days 1,954 sqft
2021-08-01 33 days 2,047 sqft
2021-09-01 33 days 1,980 sqft
2021-10-01 36 days 2,007 sqft
2021-11-01 34 days 2,124 sqft
2021-12-01 42 days 2,116 sqft
2022-01-01 45 days 1,998 sqft
2022-02-01 31 days 2,057 sqft
2022-03-01 21 days 1,989 sqft
2022-04-01 24 days 2,002 sqft
2022-05-01 25 days 2,011 sqft
2022-06-01 29 days 1,983 sqft
2022-07-01 29 days 1,937 sqft
2022-08-01 43 days 1,960 sqft
2022-09-01 49 days 1,969 sqft
2022-10-01 54 days 1,924 sqft
2022-11-01 57 days 1,898 sqft
2022-12-01 67 days 1,922 sqft
2023-01-01 74 days 2,048 sqft
2023-02-01 46 days 2,030 sqft
2023-03-01 43 days 2,000 sqft
2023-04-01 43 days 2,129 sqft
Santa Maria's median listing age (time on market) for 2023-04-01 was 43 days. This is 79% longer than the same period one year ago.

Santa Maria's median square footage for active listings during the 2023-04-01 period was 2,129 sqft. One year prior, the average listing was 2,002 sqft.