Santa Maria VA Loan Rates, Closing Costs & Stats

SANTA MARIA-SANTA BARBARA, CA

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    • 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 not 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 Maria's 40 lenders originated 160 VA loans during 2023. The total origination value was $97,690,000, with an average VA loan value of $610,563.

    Santa Maria VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Santa Maria averaged 6.73% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Santa Maria's average VA mortgage closing costs are $7,626.

    The average rate for the prior week (2024-04-12) was 6.57% and one month ago for the week of 2024-03-15, the average rate was 6.83%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.83%.

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

    Santa Maria VA Loan Lenders by Rates & Fees

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

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 22 6.23% $8,887
    QUICKEN LOANS, LLC 14 6.14% $12,832
    Mortgage Research Center, LLC 12 6.32% $15,324
    LOANDEPOT.COM, LLC 11 6.01% $17,263
    GUARANTEED RATE, INC. 10 6.08% $11,418
    FREEDOM MORTGAGE CORPORATION 6 6.42% $14,113
    MOVEMENT MORTGAGE, LLC 6 6.35% $10,934
    NAVY FEDERAL CREDIT UNION 5 5.73% $5,016
    CROSSCOUNTRY MORTGAGE, LLC 5 6.41% $11,524
    CMG MORTGAGE, INC. 5 6.20% $16,479
    CARDINAL FINANCIAL 4 6.09% $10,971
    USAA Federal Savings Bank 4 6.19% $12,144
    GUILD MORTGAGE COMPANY 4 6.25% $6,829
    HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.88% $21,901
    Century Mortgage Company DBA Century Lending Company 4 5.94% $17,346
    CORNERSTONE HOME LENDING, INC. 3 6.58% $27,121
    PENNYMAC LOAN SERVICES, LLC 3 5.63% $16,725
    The Federal Savings Bank 3 6.08% $16,584
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.25% $7,281
    AMERICAN FINANCIAL NETWORK, INC. 2 6.56% $1,174
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $9,195
    ENVOY MORTGAGE, LTD 2 6.50% $20,188
    Farmers Bank & Trust 2 5.13% $19,174
    HOMESIDE FINANCIAL, LLC 1 6.75% $13,744
    KD CAPITAL MORTGAGE CORPORATION 1 6.75% $9,313
    Golden Empire Mortgage, Inc. 1 6.25% $29,041
    Magnolia Bank 1 5.75% $32,103
    Flagstar Bank, FSB 1 5.38% $9,747
    FIRST COMMUNITY MORTGAGE, INC. 1 5.63% $14,110
    NATIONS DIRECT MORTGAGE, LLC 1 5.50% $29,031
    COASTAL FUNDING SLC, INC. 1 6.25% $26,483
    Paramount Residential Mortgage Group, Inc. 1 6.75% $13,843
    CHURCHILL MORTGAGE CORPORATION 1 5.63% $5,777
    PLANET HOME LENDING, LLC 1 6.38% $9,701
    AXIA FINANCIAL, LLC 1 6.99% $8,519
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $6,530
    AUGUSTA FINANCIAL, INC. 1 6.50% $5,400
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $15,995
    American Mortgage & Equity Consultants, Inc. 1 6.63% $4,497
    U.S. Bank 1 6.25% $10,398

    The top Santa Maria VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 22 VA loans originated. Their average total fees are $8,887, which is $3,945 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Santa Maria VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,887), GUARANTEED RATE, INC. ($11,418), QUICKEN LOANS, LLC ($12,832), Mortgage Research Center, LLC ($15,324) and LOANDEPOT.COM, LLC ($17,263).

    The lowest rate Santa Maria VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (6.01%), GUARANTEED RATE, INC. (6.08%), QUICKEN LOANS, LLC (6.14%), UNITED WHOLESALE MORTGAGE, LLC (6.23%) and Mortgage Research Center, LLC (6.32%).

    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 (-9.3%) $3,110,227 (3.8%) 3.68 749
    2018-02-01 $1,088,750 (0.5%) $3,110,107 (2.0%) 3.95 784
    2018-03-01 $999,000 (-10.7%) $2,883,456 (-8.3%) 3.51 849
    2018-04-01 $1,049,250 (-12.4%) $2,705,619 (-15.9%) 3.56 944
    2018-05-01 $1,043,000 (-11.7%) $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 (-3.3%) $2,477,554 (-20.3%) 3.63 1,142
    2018-08-01 $997,748 (-1.2%) $2,402,452 (-21.3%) 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 $1,029,286 (3.0%) $2,762,751 (-4.2%) 3.37 918
    2019-04-01 $1,100,000 (4.8%) $2,782,906 (2.9%) 3.49 974
    2019-05-01 $1,149,500 (10.2%) $2,815,965 (9.1%) 3.59 1,043
    2019-06-01 $1,175,000 (12.0%) $2,907,853 (17.9%) 3.67 1,051
    2019-07-01 $1,244,950 (14.4%) $2,920,288 (17.9%) 3.90 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 $1,349,450 (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%) 4.89 678
    2020-03-01 $1,578,000 (53.3%) $3,635,533 (31.6%) 4.95 705
    2020-04-01 $1,397,750 (27.1%) $3,317,297 (19.2%) 4.38 711
    2020-05-01 $1,350,000 (17.4%) $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 $1,580,000 (26.9%) $3,564,307 (22.1%) 4.58 652
    2020-08-01 $1,735,000 (40.9%) $3,840,069 (27.0%) 4.97 612
    2020-09-01 $1,875,000 (49.3%) $4,151,481 (33.3%) 5.37 560
    2020-10-01 $1,811,750 (42.4%) $4,130,227 (30.8%) 5.19 515
    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%) 4.65 336
    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%) 3.71 295
    2021-06-01 $1,297,250 (-12.6%) $4,418,558 (32.6%) 3.41 342
    2021-07-01 $1,200,000 (-24.1%) $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 (-29.3%) $5,071,788 (22.2%) 3.54 323
    2021-10-01 $1,270,000 (-29.9%) $5,572,701 (34.9%) 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%) 2.70 492
    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 $1,212,000 (-6.2%) $3,719,362 (-33.4%) 2.99 345
    2023-01-01 $1,249,750 (-6.0%) $3,731,296 (-35.6%) 3.10 284
    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%) 3.57 261
    2023-04-01 $1,895,000 (35.5%) $4,548,802 (-17.6%) 4.41 247
    2023-05-01 $2,017,500 (40.6%) $4,808,097 (-6.0%) 4.57 267
    2023-06-01 $2,118,500 (54.4%) $4,844,621 (-2.8%) 4.76 287
    2023-07-01 $1,996,000 (66.3%) $4,877,749 (15.3%) 4.54 355
    2023-08-01 $1,960,000 (54.4%) $4,699,293 (6.8%) 4.50 371
    2023-09-01 $1,895,000 (50.9%) $4,734,365 (14.3%) 4.41 402
    2023-10-01 $1,902,500 (65.4%) $5,124,111 (35.5%) 4.48 410
    2023-11-01 $1,822,500 (43.2%) $5,245,227 (45.0%) 4.34 425
    2023-12-01 $1,795,000 (48.1%) $5,360,959 (44.1%) 4.38 393
    2024-01-01 $1,749,500 (40.0%) $5,009,413 (34.3%) 4.27 380
    2024-02-01 $1,779,750 (32.5%) $4,981,103 (27.0%) 4.28 372
    2024-03-01 $1,950,000 (28.9%) $4,850,374 (11.6%) 4.59 403
    Santa Maria's median listing price for 2024-03-01 was $1,950,000, a difference of $436,750 (28.9%) versus the prior year and $170,250 versus the prior month.

    Santa Maria's median listing price comes in at 459% of the national average.

    Santa Maria's average listing price for 2024-03-01 was $4,850,374, a difference of $502,880 (11.6%) versus the prior year and $-130,729 versus the prior month.

    For the 2024-03-01 period, Santa Maria had 403 MLS listings, a difference of 31 listings (8%) versus the prior month and 142 listings (54%) 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 87 days 2,103 sqft
    2018-02-01 65 days 2,125 sqft
    2018-03-01 46 days 2,087 sqft
    2018-04-01 46 days 2,092 sqft
    2018-05-01 46 days 2,051 sqft
    2018-06-01 52 days 2,041 sqft
    2018-07-01 55 days 2,021 sqft
    2018-08-01 60 days 2,000 sqft
    2018-09-01 64 days 2,000 sqft
    2018-10-01 69 days 1,995 sqft
    2018-11-01 69 days 1,994 sqft
    2018-12-01 82 days 2,015 sqft
    2019-01-01 87 days 2,034 sqft
    2019-02-01 84 days 2,037 sqft
    2019-03-01 70 days 2,044 sqft
    2019-04-01 53 days 2,059 sqft
    2019-05-01 51 days 2,084 sqft
    2019-06-01 57 days 2,113 sqft
    2019-07-01 66 days 2,169 sqft
    2019-08-01 68 days 2,191 sqft
    2019-09-01 69 days 2,229 sqft
    2019-10-01 70 days 2,252 sqft
    2019-11-01 73 days 2,281 sqft
    2019-12-01 84 days 2,293 sqft
    2020-01-01 90 days 2,320 sqft
    2020-02-01 82 days 2,361 sqft
    2020-03-01 55 days 2,369 sqft
    2020-04-01 61 days 2,207 sqft
    2020-05-01 64 days 2,238 sqft
    2020-06-01 53 days 2,268 sqft
    2020-07-01 57 days 2,284 sqft
    2020-08-01 46 days 2,287 sqft
    2020-09-01 46 days 2,352 sqft
    2020-10-01 50 days 2,347 sqft
    2020-11-01 53 days 2,392 sqft
    2020-12-01 61 days 2,341 sqft
    2021-01-01 60 days 2,203 sqft
    2021-02-01 38 days 1,994 sqft
    2021-03-01 31 days 2,097 sqft
    2021-04-01 27 days 2,075 sqft
    2021-05-01 25 days 2,010 sqft
    2021-06-01 22 days 1,937 sqft
    2021-07-01 31 days 1,949 sqft
    2021-08-01 31 days 2,048 sqft
    2021-09-01 31 days 1,980 sqft
    2021-10-01 34 days 2,020 sqft
    2021-11-01 31 days 2,131 sqft
    2021-12-01 39 days 2,122 sqft
    2022-01-01 43 days 1,988 sqft
    2022-02-01 27 days 2,054 sqft
    2022-03-01 20 days 1,989 sqft
    2022-04-01 22 days 2,000 sqft
    2022-05-01 25 days 2,001 sqft
    2022-06-01 29 days 1,988 sqft
    2022-07-01 29 days 1,955 sqft
    2022-08-01 40 days 1,968 sqft
    2022-09-01 48 days 1,973 sqft
    2022-10-01 52 days 1,930 sqft
    2022-11-01 55 days 1,909 sqft
    2022-12-01 66 days 1,922 sqft
    2023-01-01 73 days 2,048 sqft
    2023-02-01 43 days 2,024 sqft
    2023-03-01 42 days 2,003 sqft
    2023-04-01 40 days 2,132 sqft
    2023-05-01 33 days 2,272 sqft
    2023-06-01 34 days 2,238 sqft
    2023-07-01 32 days 2,197 sqft
    2023-08-01 39 days 2,200 sqft
    2023-09-01 46 days 2,183 sqft
    2023-10-01 46 days 2,254 sqft
    2023-11-01 48 days 2,237 sqft
    2023-12-01 52 days 2,168 sqft
    2024-01-01 65 days 2,106 sqft
    2024-02-01 56 days 2,114 sqft
    2024-03-01 47 days 2,066 sqft
    Santa Maria's median listing age (time on market) for 2024-03-01 was 47 days. This is 12% longer than the same period one year ago.

    Santa Maria's median square footage for active listings during the 2024-03-01 period was 2,066 sqft. One year prior, the average listing was 2,003 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.