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 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 6.38% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Santa Maria's average USDA mortgage closing costs are $9,300.

The average rate for the prior week (2022-11-25) was 6.31% and one month ago for the week of 2022-10-28, the average rate was 6.78%.

The average rate one year ago was 3.08%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.01%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 $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%) 3.95 784
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%) 3.36 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 $1,029,286 (3.0%) $2,762,751 (-4.2%) 3.37 918
2019-04-01 $1,102,875 (5.1%) $2,785,185 (2.9%) 3.50 974
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 $1,231,364 (23.4%) $3,024,719 (25.9%) 3.90 1,026
2019-09-01 $1,255,909 (26.2%) $3,114,258 (28.5%) 4.02 995
2019-10-01 $1,272,273 (27.9%) $3,157,820 (28.9%) 4.10 970
2019-11-01 $1,349,000 (36.8%) $3,254,687 (31.0%) 4.42 905
2019-12-01 $1,337,500 (37.2%) $3,432,423 (33.2%) 4.46 764
2020-01-01 $1,385,000 (44.7%) $3,563,152 (41.2%) 4.63 679
2020-02-01 $1,495,000 (58.3%) $3,667,823 (43.5%) 4.89 679
2020-03-01 $1,576,000 (53.1%) $3,631,803 (31.5%) 4.94 706
2020-04-01 $1,396,750 (26.7%) $3,313,956 (19.0%) 4.37 712
2020-05-01 $1,340,000 (16.8%) $3,164,762 (12.4%) 4.07 768
2020-06-01 $1,485,000 (26.4%) $3,328,699 (14.4%) 4.37 728
2020-07-01 $1,575,000 (26.8%) $3,558,310 (21.8%) 4.57 654
2020-08-01 $1,725,000 (40.1%) $3,835,383 (26.8%) 4.94 613
2020-09-01 $1,849,750 (47.3%) $4,122,790 (32.4%) 5.30 563
2020-10-01 $1,800,000 (41.5%) $4,118,021 (30.4%) 5.16 517
2020-11-01 $1,805,875 (33.9%) $4,372,459 (34.3%) 5.27 462
2020-12-01 $1,822,500 (36.3%) $4,504,819 (31.2%) 5.42 406
2021-01-01 $1,875,000 (35.4%) $4,767,639 (33.8%) 5.60 343
2021-02-01 $1,597,500 (6.9%) $4,409,153 (20.2%) 4.64 336
2021-03-01 $1,680,000 (6.6%) $5,031,756 (38.6%) 4.77 310
2021-04-01 $1,523,000 (9.0%) $4,628,852 (39.7%) 4.12 301
2021-05-01 $1,391,500 (3.8%) $4,524,414 (43.0%) 3.68 296
2021-06-01 $1,297,000 (-12.7%) $4,409,308 (32.5%) 3.41 343
2021-07-01 $1,199,500 (-23.8%) $4,523,305 (27.1%) 3.16 348
2021-08-01 $1,194,500 (-30.8%) $5,114,880 (33.4%) 3.19 334
2021-09-01 $1,311,000 (-29.1%) $5,059,913 (22.7%) 3.50 324
2021-10-01 $1,265,000 (-29.7%) $5,559,254 (35.0%) 3.37 303
2021-11-01 $1,312,500 (-27.3%) $5,658,777 (29.4%) 3.50 275
2021-12-01 $1,290,000 (-29.2%) $5,567,577 (23.6%) 3.50 257
2022-01-01 $1,330,000 (-29.1%) $5,771,848 (21.1%) 3.60 223
2022-02-01 $1,474,250 (-7.7%) $5,271,845 (19.6%) 3.83 207
2022-03-01 $1,334,250 (-20.6%) $5,584,754 (11.0%) 3.34 229
2022-04-01 $1,397,000 (-8.3%) $5,502,579 (18.9%) 3.33 246
2022-05-01 $1,422,000 (2.2%) $5,100,511 (12.7%) 3.25 313
2022-06-01 $1,363,750 (5.2%) $4,972,471 (12.8%) 3.04 365
2022-07-01 $1,200,000 (0.0%) $4,224,484 (-6.6%) 2.71 493
2022-08-01 $1,262,250 (5.7%) $4,395,513 (-14.1%) 2.92 490
2022-09-01 $1,250,000 (-4.7%) $4,135,644 (-18.3%) 2.93 463
2022-10-01 $1,150,000 (-9.1%) $3,776,189 (-32.1%) 2.71 440
2022-11-01 $1,261,250 (-3.9%) $3,611,554 (-36.2%) 3.03 412
Santa Maria's median listing price for 2022-11-01 was $1,261,250, a difference of $-51,250 (-3.9%) versus the prior year and $111,250 versus the prior month.

Santa Maria's median listing price comes in at 303% of the national average.

Santa Maria's average listing price for 2022-11-01 was $3,611,554, a difference of $-2,047,223 (-36.2%) versus the prior year and $-164,635 versus the prior month.

For the 2022-11-01 period, Santa Maria had 412 MLS listings, a difference of -28 listings (-6%) versus the prior month and 137 listings (50%) 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 2,106 sqft
2018-02-01 77 days 2,122 sqft
2018-03-01 50 days 2,088 sqft
2018-04-01 49 days 2,091 sqft
2018-05-01 51 days 2,049 sqft
2018-06-01 56 days 2,041 sqft
2018-07-01 60 days 2,019 sqft
2018-08-01 64 days 1,995 sqft
2018-09-01 68 days 2,000 sqft
2018-10-01 73 days 1,997 sqft
2018-11-01 74 days 1,994 sqft
2018-12-01 87 days 2,011 sqft
2019-01-01 92 days 2,032 sqft
2019-02-01 92 days 2,037 sqft
2019-03-01 76 days 2,046 sqft
2019-04-01 60 days 2,067 sqft
2019-05-01 55 days 2,087 sqft
2019-06-01 60 days 2,112 sqft
2019-07-01 71 days 2,169 sqft
2019-08-01 75 days 2,191 sqft
2019-09-01 75 days 2,227 sqft
2019-10-01 76 days 2,234 sqft
2019-11-01 81 days 2,266 sqft
2019-12-01 93 days 2,264 sqft
2020-01-01 100 days 2,294 sqft
2020-02-01 94 days 2,347 sqft
2020-03-01 62 days 2,354 sqft
2020-04-01 68 days 2,198 sqft
2020-05-01 72 days 2,230 sqft
2020-06-01 60 days 2,244 sqft
2020-07-01 65 days 2,257 sqft
2020-08-01 59 days 2,262 sqft
2020-09-01 52 days 2,320 sqft
2020-10-01 57 days 2,341 sqft
2020-11-01 62 days 2,392 sqft
2020-12-01 69 days 2,343 sqft
2021-01-01 69 days 2,225 sqft
2021-02-01 46 days 1,978 sqft
2021-03-01 37 days 2,094 sqft
2021-04-01 33 days 2,052 sqft
2021-05-01 29 days 1,991 sqft
2021-06-01 23 days 1,932 sqft
2021-07-01 32 days 1,954 sqft
2021-08-01 34 days 2,045 sqft
2021-09-01 33 days 1,977 sqft
2021-10-01 37 days 1,984 sqft
2021-11-01 34 days 2,124 sqft
2021-12-01 42 days 2,111 sqft
2022-01-01 45 days 1,981 sqft
2022-02-01 31 days 2,032 sqft
2022-03-01 21 days 1,968 sqft
2022-04-01 24 days 1,992 sqft
2022-05-01 25 days 1,988 sqft
2022-06-01 30 days 1,974 sqft
2022-07-01 29 days 1,933 sqft
2022-08-01 43 days 1,960 sqft
2022-09-01 50 days 1,960 sqft
2022-10-01 54 days 1,923 sqft
2022-11-01 57 days 1,882 sqft
Santa Maria's median listing age (time on market) for 2022-11-01 was 57 days. This is 68% longer than the same period one year ago.

Santa Maria's median square footage for active listings during the 2022-11-01 period was 1,882 sqft. One year prior, the average listing was 2,124 sqft.