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%.
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 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 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.