Santa Fe VA Loans

SANTA FE, NM

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Santa Fe's 88 lenders originated 519 VA loans during 2021. The total origination value was $180,535,000, with an average VA loan value of $347,852.

Santa Fe VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Fe averaged 5.51% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.64% and one month ago for the week of 2022-04-08, the average rate was 5.17%.

The average rate one year ago was 2.98%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

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

Santa Fe VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Fe level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 40 2.38% $3,249
Mortgage Research Center, LLC 38 2.66% $8,857
QUICKEN LOANS, LLC 38 2.40% $5,766
PENNYMAC LOAN SERVICES, LLC 18 2.40% $7,948
LOANDEPOT.COM, LLC 17 2.56% $6,625
Gateway First Bank 16 2.73% $6,084
NAVY FEDERAL CREDIT UNION 15 2.53% $11,237
Waterstone Mortgage Corporation 15 2.88% $8,012
USAA Federal Savings Bank 15 2.92% $4,931
The Federal Savings Bank 13 2.47% $8,530
NEW DAY FINANCIAL, LLC 12 2.69% $8,660
CALIBER HOME LOANS, INC. 12 2.52% $5,020
LAKEVIEW LOAN SERVICING, LLC 11 2.40% $2,872
CLEARPATH LENDING 11 2.25% $4,977
Mr. Cooper ( Nationstar Mortgage ) 10 2.73% $3,996
UNITED WHOLESALE MORTGAGE, LLC 8 2.58% $8,042
PENTAGON FEDERAL CREDIT UNION 7 2.34% $3,487
PULTE MORTGAGE LLC 6 2.65% $3,822
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 2.75% $7,558
BROKER SOLUTIONS, INC. 5 2.55% $8,060
GUARANTEED RATE, INC. 5 2.43% $7,434
ACCELERATE MORTGAGE, LLC 5 2.10% $10,934
VILLAGE CAPITAL & INVESTMENT LLC 5 2.35% $4,101
Low VA Rates, LLC 4 2.38% $4,680
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.75% $3,517
Nations Lending Corporation 4 3.16% $11,508
Wells Fargo Bank 4 2.41% $4,965
First Home Bank 4 2.28% $9,303
GUILD MORTGAGE COMPANY 4 3.13% $4,968
HOMEOWNERS FINANCIAL GROUP USA, LLC 4 2.63% $2,726
AMERISAVE MORTGAGE CORPORATION 4 2.59% $9,812
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.04% $8,481
Prime Choice Funding Inc. 3 2.25% $9,633
SOVEREIGN LENDING GROUP INCORPORATED 3 2.46% $3,970
SUN WEST MORTGAGE COMPANY, INC. 3 2.33% $3,276
BAY EQUITY LLC 3 2.67% $4,714
AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.17% $9,633
LOANPAL, LLC 3 2.25% $4,933
PANORAMA MORTGAGE GROUP, LLC 3 2.75% $19,048
CMG MORTGAGE, INC. 3 2.54% $4,699
Magnolia Bank 3 2.58% $11,989
Bell Bank 3 2.79% $3,007
PLAZA HOME MORTGAGE, INC. 3 2.50% $19,838
FINANCE OF AMERICA MORTGAGE LLC 3 3.25% $9,810
First Guaranty Mortgage Corporation 3 2.88% $21,534
LEGACY MORTGAGE LLC 3 2.75% $7,289
PLANET HOME LENDING, LLC 2 2.25% $2,130
AMERICAN FINANCING CORPORATION 2 2.50% $13,965
BNC National Bank 2 2.25% $2,936
BOKF 2 3.13% $10,763
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.56% $9,834
KS StateBank 2 2.25% $11,110
NBH Bank 2 2.63% $6,942
NEWREZ LLC 2 2.56% $3,302
NUSENDA 2 2.75% $2,971
Paramount Bank 2 2.75% $8,473
Plains Commerce Bank 2 2.56% $3,569
ACADEMY MORTGAGE CORPORATION 2 2.75% $8,520
PREMIA MORTGAGE, LLC 2 2.50% $16,635
S1L, Inc. 2 2.81% $7,335
HOMETRUST MORTGAGE COMPANY 1 2.25% $3,675
Carrington Mortgage Services, LLC 1 2.25% $5,194
First Savings Bank 1 2.25% $887
FIRST COMMUNITY MORTGAGE, INC. 1 2.38% $5,212
CALCON MUTUAL MORTGAGE LLC 1 2.88% $9,710
Bank of America 1 2.88% $11,751
FirstBank 1 2.50% $14,110
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $15,782
Presidential Bank, FSB 1 2.25% $4,262
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.88% $4,146
DRAPER AND KRAMER MORTGAGE CORP. 1 2.38% $2,492
CROSSCOUNTRY MORTGAGE, LLC 1 2.25% $10,256
CONTOUR MORTGAGE CORPORATION 1 2.75% $41,844
AMERICAN FINANCIAL NETWORK, INC. 1 2.63% $6,838
Community First National Bank 1 2.88% $3,270
Stifel Bank and Trust 1 2.25% $6,140
STOCKTON MORTGAGE CORPORATION 1 3.13% $16,332
Sunflower Bank 1 2.75% $4,250
Commerce Home Mortgage, Inc. 1 2.75% $25,947
Citizens Bank 1 2.25% $6,512
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.88% $12,773
TOP FLITE FINANCIAL, INC. 1 2.88% $15,020
NBKC BANK 1 2.38% $9,168
InterContinental Capital Group, Inc 1 2.25% $10,937
Truist Bank 1 2.70% $1,991
North American Savings Bank, F.S.B. 1 2.50% $5,176
Northpointe Bank 1 2.50% $3,104
UNION HOME MORTGAGE CORP. 1 4.25% $11,878

The top Santa Fe VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 40 VA loans originated. Their average total fees are $3,249, which is $5,608 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Santa Fe VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,872), FREEDOM MORTGAGE CORPORATION ($3,249), Mr. Cooper ( Nationstar Mortgage ) ($3,996), USAA Federal Savings Bank ($4,931) and CLEARPATH LENDING ($4,977).

The lowest rate Santa Fe VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.25%), FREEDOM MORTGAGE CORPORATION (2.38%), PENNYMAC LOAN SERVICES, LLC (2.40%), QUICKEN LOANS, LLC (2.40%) and LAKEVIEW LOAN SERVICING, LLC (2.40%).


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 $575,000 (4.7%) $883,618 (8.4%) 2.12 716
2018-02-01 $577,000 (7.9%) $889,143 (9.7%) 2.08 700
2018-03-01 $575,000 (11.2%) $906,331 (13.4%) 1.99 675
2018-04-01 $582,500 (7.9%) $938,115 (15.7%) 1.95 682
2018-05-01 $587,500 (3.6%) $933,018 (12.6%) 1.96 734
2018-06-01 $598,000 (5.8%) $930,204 (11.9%) 1.99 785
2018-07-01 $599,000 (8.9%) $930,072 (13.2%) 2.00 844
2018-08-01 $577,000 (2.8%) $902,431 (9.1%) 1.93 915
2018-09-01 $569,000 (3.6%) $902,705 (10.7%) 1.90 898
2018-10-01 $577,000 (4.9%) $917,523 (11.4%) 1.93 877
2018-11-01 $579,500 (5.4%) $922,391 (10.6%) 1.94 830
2018-12-01 $585,000 (0.0%) $907,499 (1.5%) 2.00 757
2019-01-01 $599,000 (4.2%) $925,077 (4.7%) 2.07 643
2019-02-01 $613,000 (6.2%) $918,356 (3.3%) 2.05 612
2019-03-01 $584,857 (1.7%) $902,294 (-0.5%) 1.91 614
2019-04-01 $561,357 (-3.6%) $890,681 (-5.1%) 1.77 641
2019-05-01 $552,000 (-6.0%) $862,678 (-7.5%) 1.70 695
2019-06-01 $549,000 (-8.2%) $846,540 (-9.0%) 1.69 799
2019-07-01 $549,500 (-8.3%) $858,803 (-7.7%) 1.71 797
2019-08-01 $583,514 (1.1%) $886,191 (-1.8%) 1.84 782
2019-09-01 $591,064 (3.9%) $897,289 (-0.6%) 1.88 766
2019-10-01 $595,000 (3.1%) $878,592 (-4.2%) 1.90 752
2019-11-01 $599,000 (3.4%) $922,899 (0.1%) 1.93 663
2019-12-01 $649,000 (10.9%) $954,980 (5.2%) 2.16 594
2020-01-01 $647,500 (8.1%) $979,875 (5.9%) 2.16 515
2020-02-01 $659,000 (7.5%) $1,039,188 (13.2%) 2.13 459
2020-03-01 $654,000 (11.8%) $1,018,719 (12.9%) 2.04 457
2020-04-01 $599,000 (6.7%) $976,052 (9.6%) 1.87 501
2020-05-01 $649,500 (17.7%) $1,001,218 (16.1%) 1.97 505
2020-06-01 $650,000 (18.4%) $1,004,852 (18.7%) 1.90 534
2020-07-01 $668,500 (21.7%) $1,053,710 (22.7%) 1.92 537
2020-08-01 $665,000 (14.0%) $1,081,678 (22.1%) 1.90 538
2020-09-01 $735,000 (24.4%) $1,251,572 (39.5%) 2.10 496
2020-10-01 $739,500 (24.3%) $1,268,146 (44.3%) 2.11 473
2020-11-01 $700,000 (16.9%) $1,260,656 (36.6%) 2.00 444
2020-12-01 $693,500 (6.9%) $1,247,653 (30.7%) 2.03 401
2021-01-01 $675,000 (4.3%) $1,266,973 (29.3%) 1.99 340
2021-02-01 $649,950 (-1.4%) $1,303,722 (25.5%) 1.87 296
2021-03-01 $664,500 (1.6%) $1,397,613 (37.2%) 1.86 265
2021-04-01 $750,000 (25.2%) $1,393,561 (42.8%) 2.02 258
2021-05-01 $665,000 (2.4%) $1,336,065 (33.4%) 1.75 277
2021-06-01 $685,000 (5.4%) $1,273,848 (26.8%) 1.78 290
2021-07-01 $694,000 (3.8%) $1,283,174 (21.8%) 1.80 343
2021-08-01 $697,500 (4.9%) $1,309,752 (21.1%) 1.83 369
2021-09-01 $697,500 (-5.1%) $1,344,578 (7.4%) 1.84 353
2021-10-01 $700,000 (-5.3%) $1,424,668 (12.3%) 1.84 301
2021-11-01 $749,500 (7.1%) $1,521,688 (20.7%) 1.98 242
2021-12-01 $722,500 (4.2%) $1,528,017 (22.5%) 1.93 219
2022-01-01 $740,000 (9.6%) $1,617,969 (27.7%) 1.97 187
2022-02-01 $967,500 (48.9%) $1,820,375 (39.6%) 2.47 145
2022-03-01 $879,000 (32.3%) $1,779,352 (27.3%) 2.17 166
2022-04-01 $820,000 (9.3%) $1,702,045 (22.1%) 1.93 166
Santa Fe's median listing price for 2022-04-01 was $820,000, a difference of $70,000 (9.3%) versus the prior year and $-59,000 versus the prior month.

Santa Fe's median listing price comes in at 193% of the national average.

Santa Fe's average listing price for 2022-04-01 was $1,702,045, a difference of $308,484 (22.1%) versus the prior year and $-77,307 versus the prior month.

For the 2022-04-01 period, Santa Fe had 166 MLS listings, a difference of 0 listings (0%) versus the prior month and -92 listings (-36%) 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
2018-01-01 149 days 2,547 sqft
2018-02-01 139 days 2,572 sqft
2018-03-01 122 days 2,635 sqft
2018-04-01 83 days 2,623 sqft
2018-05-01 68 days 2,595 sqft
2018-06-01 65 days 2,572 sqft
2018-07-01 65 days 2,594 sqft
2018-08-01 70 days 2,560 sqft
2018-09-01 82 days 2,537 sqft
2018-10-01 91 days 2,572 sqft
2018-11-01 102 days 2,603 sqft
2018-12-01 116 days 2,577 sqft
2019-01-01 122 days 2,601 sqft
2019-02-01 122 days 2,575 sqft
2019-03-01 113 days 2,517 sqft
2019-04-01 79 days 2,499 sqft
2019-05-01 66 days 2,361 sqft
2019-06-01 61 days 2,384 sqft
2019-07-01 65 days 2,392 sqft
2019-08-01 77 days 2,489 sqft
2019-09-01 88 days 2,525 sqft
2019-10-01 85 days 2,547 sqft
2019-11-01 92 days 2,534 sqft
2019-12-01 108 days 2,600 sqft
2020-01-01 125 days 2,650 sqft
2020-02-01 121 days 2,746 sqft
2020-03-01 101 days 2,637 sqft
2020-04-01 79 days 2,507 sqft
2020-05-01 84 days 2,600 sqft
2020-06-01 78 days 2,580 sqft
2020-07-01 60 days 2,588 sqft
2020-08-01 63 days 2,590 sqft
2020-09-01 67 days 2,667 sqft
2020-10-01 67 days 2,677 sqft
2020-11-01 78 days 2,672 sqft
2020-12-01 88 days 2,618 sqft
2021-01-01 103 days 2,616 sqft
2021-02-01 105 days 2,615 sqft
2021-03-01 73 days 2,608 sqft
2021-04-01 54 days 2,603 sqft
2021-05-01 46 days 2,600 sqft
2021-06-01 48 days 2,499 sqft
2021-07-01 42 days 2,495 sqft
2021-08-01 45 days 2,498 sqft
2021-09-01 50 days 2,519 sqft
2021-10-01 60 days 2,655 sqft
2021-11-01 70 days 2,667 sqft
2021-12-01 64 days 2,781 sqft
2022-01-01 76 days 2,785 sqft
2022-02-01 80 days 2,798 sqft
2022-03-01 47 days 2,802 sqft
2022-04-01 42 days 2,705 sqft
Santa Fe's median listing age (time on market) for 2022-04-01 was 42 days. This is -21% shorter than the same period one year ago.

Santa Fe's median square footage for active listings during the 2022-04-01 period was 2,705 sqft. One year prior, the average listing was 2,603 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.