Santa Maria VA Loans

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 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 107 lenders originated 1,241 VA loans during 2021. The total origination value was $561,945,000, with an average VA loan value of $452,816.

    Santa Maria VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Santa Maria averaged 5.31% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.62% and one month ago for the week of 2022-04-15, the average rate was 4.98%.

    The average rate one year ago was 3.27%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.04%.

    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 and rates for VA 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. Total Fees
    QUICKEN LOANS, LLC 95 2.37% $6,239
    FREEDOM MORTGAGE CORPORATION 91 2.37% $4,062
    HOME POINT FINANCIAL CORPORATION 78 2.44% $6,666
    UNITED WHOLESALE MORTGAGE, LLC 75 2.42% $5,628
    PENNYMAC LOAN SERVICES, LLC 66 2.28% $7,139
    GUILD MORTGAGE COMPANY 58 2.55% $8,111
    Mortgage Research Center, LLC 57 2.68% $10,219
    LOANDEPOT.COM, LLC 51 2.50% $5,296
    CALIBER HOME LOANS, INC. 44 2.41% $6,746
    VILLAGE CAPITAL & INVESTMENT LLC 33 2.27% $5,689
    HOMEBRIDGE FINANCIAL SERVICES, INC. 27 2.57% $8,887
    NEWREZ LLC 21 2.49% $5,971
    LAKEVIEW LOAN SERVICING, LLC 20 2.35% $2,561
    NAVY FEDERAL CREDIT UNION 18 2.47% $6,390
    USAA Federal Savings Bank 17 2.93% $6,674
    LENDUS, LLC 16 2.68% $4,686
    CLEARPATH LENDING 13 2.27% $6,003
    ENVOY MORTGAGE, LTD 12 2.74% $10,408
    CROSSCOUNTRY MORTGAGE, LLC 12 2.82% $9,057
    Mr. Cooper ( Nationstar Mortgage ) 12 2.47% $4,921
    Wells Fargo Bank 12 2.43% $7,003
    CMG MORTGAGE, INC. 10 2.55% $13,291
    The Federal Savings Bank 10 2.55% $9,838
    Lakeview Community Capital, LLC 9 2.35% $2,607
    GUARANTEED RATE, INC. 9 2.51% $7,935
    COASTAL FUNDING SLC, INC. 8 2.73% $9,382
    AMERICAN FINANCIAL NETWORK, INC. 8 2.61% $12,057
    BROKER SOLUTIONS, INC. 8 2.44% $5,504
    NEW DAY FINANCIAL, LLC 8 2.78% $11,315
    HOMEOWNERS FINANCIAL GROUP USA, LLC 8 2.84% $12,293
    North American Savings Bank, F.S.B. 7 2.25% $4,652
    CORNERSTONE HOME LENDING, INC. 6 2.69% $9,167
    Carrington Mortgage Services, LLC 6 2.94% $6,841
    MEGA CAPITAL FUNDING, INC. 5 2.38% $6,140
    Barrington Bank & Trust Company, N.A. 5 2.64% $2,006
    NBKC BANK 5 2.55% $4,687
    SOVEREIGN LENDING GROUP INCORPORATED 5 2.28% $8,655
    Paramount Residential Mortgage Group, Inc. 5 3.03% $3,148
    MOVEMENT MORTGAGE, LLC 4 2.97% $5,757
    PENTAGON FEDERAL CREDIT UNION 4 2.38% $7,428
    BNC National Bank 4 2.44% $4,653
    STEARNS LENDING, LLC 4 2.28% $11,297
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.88% $21,762
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.37% $4,526
    Flagstar Bank, FSB 4 2.34% $6,552
    Golden Empire Mortgage, Inc. 4 2.50% $3,649
    AMERISAVE MORTGAGE CORPORATION 4 2.50% $7,113
    CENTRAL COAST LENDING, INC. 3 2.38% $14,847
    InterContinental Capital Group, Inc 3 2.25% $2,614
    Low VA Rates, LLC 3 2.25% $7,375
    MASON MCDUFFIE MORTGAGE CORPORATION 3 2.46% $6,513
    PLANET HOME LENDING, LLC 3 2.25% $2,318
    ACCELERATE MORTGAGE, LLC 3 2.25% $5,334
    Commerce Home Mortgage, Inc. 3 2.58% $8,382
    NETWORK CAPITAL FUNDING CORPORATION 3 2.25% $3,432
    MUTUAL OF OMAHA MORTGAGE, INC. 3 2.50% $20,238
    GENEVA FINANCIAL, LLC 3 2.63% $10,926
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.04% $7,539
    Prosperity Home Mortgage, LLC 3 2.58% $3,181
    SUN WEST MORTGAGE COMPANY, INC. 3 2.63% $2,150
    FINANCE OF AMERICA MORTGAGE LLC 3 2.67% $12,252
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.75% $9,508
    HighTechLending Inc 2 2.56% $3,928
    COASTHILLS 2 3.25% $2,059
    Sierra Pacific Mortgage Company, Inc. 2 2.69% $5,462
    KS StateBank 2 2.31% $6,007
    CELEBRITY HOME LOANS, LLC 2 2.88% $6,597
    BEST CAPITAL FUNDING 2 2.50% $9,223
    PLAZA HOME MORTGAGE, INC. 2 3.81% $17,743
    LOANPAL, LLC 2 2.37% $11,923
    NP, Inc. 2 2.31% $4,555
    MORIA DEVELOPMENT, INC. 1 2.38% $3,803
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.88% $6,568
    AMERICAN FINANCING CORPORATION 1 2.63% $21,252
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.13% $17,212
    AmRes Corporation 1 2.25% $951
    Bank of England 1 2.25% $4,919
    BOKF 1 3.00% $3,987
    Century Mortgage Company DBA Century Lending Company 1 2.25% $4,181
    CHOICE LENDING CORP. 1 2.25% $4,012
    CHURCHILL MORTGAGE CORPORATION 1 2.63% $4,517
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 2.75% $23,673
    DIGNIFIED HOME LOANS, LLC 1 2.75% $15,113
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.25% $2,440
    EMBRACE HOME LOANS, INC. 1 2.38% $2,092
    Equity Prime Mortgage LLC 1 3.38% $18,629
    First Guaranty Mortgage Corporation 1 2.75% $23,883
    First Home Bank 1 2.25% $4,182
    First Mortgage Solutions, LLC 1 2.25% $2,818
    First Western Trust Bank 1 2.25% $3,046
    Home Mortgage Alliance Corp 1 2.25% $4,084
    HOMESIDE FINANCIAL, LLC 1 2.25% $6,756
    Hometown Equity Mortgage, LLC 1 3.63% $17,824
    KINGS MORTGAGE SERVICES, INC. 1 3.13% $15,486
    ACADEMY MORTGAGE CORPORATION 1 2.75% $22,512
    MORTGAGE 2000, INC. 1 2.38% $7,371
    MORTGAGEONE, INC. 1 2.38% $4,031
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.38% $14,875
    Northpointe Bank 1 2.50% $45,226
    Paramount Bank 1 2.88% $13,422
    PARKSIDE LENDING, LLC 1 2.25% $21,099
    PREMIER LENDING, INC. 1 2.25% $3,141
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.00% $8,364
    SNAPFI, INC. 1 2.75% $25,830
    Strong Home Mortgage, LLC 1 2.75% $642
    Sunflower Bank 1 2.49% $3,553
    THRIVE MORTGAGE, LLC 1 3.25% $28,732

    The top Santa Maria VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 95 VA loans originated. Their average total fees are $6,239, which is $2,176 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Santa Maria VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,561), FREEDOM MORTGAGE CORPORATION ($4,062), LENDUS, LLC ($4,686), Mr. Cooper ( Nationstar Mortgage ) ($4,921) and LOANDEPOT.COM, LLC ($5,296).

    The lowest rate Santa Maria VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.27%), CLEARPATH LENDING (2.27%), PENNYMAC LOAN SERVICES, LLC (2.28%), LAKEVIEW LOAN SERVICING, LLC (2.35%) and FREEDOM MORTGAGE CORPORATION (2.37%).

    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 $968,000 (-16.7%) $3,085,926 (-6.2%) 3.56 1,029
    2018-02-01 $1,013,500 (-15.5%) $3,116,840 (-7.4%) 3.66 1,073
    2018-03-01 $975,000 (-23.2%) $2,862,015 (-15.9%) 3.37 1,166
    2018-04-01 $1,012,500 (-21.8%) $2,691,424 (-17.5%) 3.40 1,305
    2018-05-01 $984,500 (-15.0%) $2,546,804 (-17.3%) 3.28 1,429
    2018-06-01 $999,000 (-9.1%) $2,494,348 (-18.5%) 3.33 1,506
    2018-07-01 $1,039,000 (-5.6%) $2,516,833 (-17.4%) 3.46 1,570
    2018-08-01 $979,500 (-1.9%) $2,457,229 (-19.0%) 3.27 1,574
    2018-09-01 $969,000 (-3.1%) $2,465,400 (-20.8%) 3.24 1,579
    2018-10-01 $972,000 (-11.5%) $2,522,777 (-19.7%) 3.25 1,556
    2018-11-01 $975,000 (-2.4%) $2,552,275 (-19.2%) 3.27 1,556
    2018-12-01 $979,000 (0.4%) $2,624,985 (-18.8%) 3.35 1,440
    2019-01-01 $950,000 (-1.9%) $2,565,229 (-16.9%) 3.28 1,322
    2019-02-01 $939,000 (-7.4%) $2,514,003 (-19.3%) 3.15 1,251
    2019-03-01 $992,429 (1.8%) $2,754,294 (-3.8%) 3.23 1,283
    2019-04-01 $1,082,000 (6.9%) $2,815,115 (4.6%) 3.41 1,372
    2019-05-01 $1,107,500 (12.5%) $2,867,902 (12.6%) 3.41 1,489
    2019-06-01 $1,149,000 (15.0%) $2,962,512 (18.8%) 3.54 1,500
    2019-07-01 $1,249,950 (20.3%) $3,050,407 (21.2%) 3.88 1,505
    2019-08-01 $1,271,000 (29.8%) $3,138,502 (27.7%) 4.00 1,465
    2019-09-01 $1,295,500 (33.7%) $3,234,170 (31.2%) 4.11 1,432
    2019-10-01 $1,262,000 (29.8%) $3,214,760 (27.4%) 4.03 1,366
    2019-11-01 $1,295,000 (32.8%) $3,262,875 (27.8%) 4.18 1,272
    2019-12-01 $1,297,000 (32.5%) $3,466,301 (32.1%) 4.32 1,093
    2020-01-01 $1,372,500 (44.5%) $3,592,424 (40.0%) 4.58 938
    2020-02-01 $1,535,000 (63.5%) $3,791,744 (50.8%) 4.95 930
    2020-03-01 $1,750,000 (76.3%) $3,776,368 (37.1%) 5.47 964
    2020-04-01 $1,461,000 (35.0%) $3,450,550 (22.6%) 4.55 973
    2020-05-01 $1,350,000 (21.9%) $3,323,253 (15.9%) 4.09 1,042
    2020-06-01 $1,471,000 (28.0%) $3,390,174 (14.4%) 4.30 986
    2020-07-01 $1,596,500 (27.7%) $3,664,277 (20.1%) 4.57 880
    2020-08-01 $1,795,000 (41.2%) $3,926,551 (25.1%) 5.13 826
    2020-09-01 $2,022,000 (56.1%) $4,354,281 (34.6%) 5.78 753
    2020-10-01 $1,895,000 (50.2%) $4,377,815 (36.2%) 5.41 692
    2020-11-01 $2,125,000 (64.1%) $4,764,115 (46.0%) 6.08 664
    2020-12-01 $2,087,500 (61.0%) $4,976,904 (43.6%) 6.12 571
    2021-01-01 $2,185,000 (59.2%) $5,129,861 (42.8%) 6.43 487
    2021-02-01 $1,798,000 (17.1%) $4,798,050 (26.5%) 5.17 481
    2021-03-01 $1,922,500 (9.9%) $5,412,007 (43.3%) 5.39 438
    2021-04-01 $1,835,000 (25.6%) $5,260,241 (52.5%) 4.93 421
    2021-05-01 $1,395,000 (3.3%) $5,080,682 (52.9%) 3.67 411
    2021-06-01 $1,395,000 (-5.2%) $5,010,583 (47.8%) 3.62 475
    2021-07-01 $1,237,500 (-22.5%) $5,077,384 (38.6%) 3.21 493
    2021-08-01 $1,266,000 (-29.5%) $5,785,297 (47.3%) 3.33 487
    2021-09-01 $1,410,000 (-30.3%) $5,836,507 (34.0%) 3.71 468
    2021-10-01 $1,325,000 (-30.1%) $6,520,036 (48.9%) 3.49 432
    2021-11-01 $1,392,500 (-34.5%) $6,604,272 (38.6%) 3.67 401
    2021-12-01 $1,397,000 (-33.1%) $6,766,062 (36.0%) 3.73 373
    2022-01-01 $1,495,000 (-31.6%) $6,945,975 (35.4%) 3.99 311
    2022-02-01 $1,625,000 (-9.6%) $6,757,804 (40.8%) 4.14 292
    2022-03-01 $1,497,500 (-22.1%) $6,912,830 (27.7%) 3.70 323
    2022-04-01 $1,450,000 (-21.0%) $6,590,594 (25.3%) 3.41 356
    Santa Maria's median listing price for 2022-04-01 was $1,450,000, a difference of $-385,000 (-21.0%) versus the prior year and $-47,500 versus the prior month.

    Santa Maria's median listing price comes in at 341% of the national average.

    Santa Maria's average listing price for 2022-04-01 was $6,590,594, a difference of $1,330,353 (25.3%) versus the prior year and $-322,236 versus the prior month.

    For the 2022-04-01 period, Santa Maria had 356 MLS listings, a difference of 33 listings (10%) versus the prior month and -65 listings (-15%) 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 89 days 2,152 sqft
    2018-02-01 73 days 2,193 sqft
    2018-03-01 49 days 2,169 sqft
    2018-04-01 49 days 2,167 sqft
    2018-05-01 50 days 2,146 sqft
    2018-06-01 57 days 2,144 sqft
    2018-07-01 60 days 2,072 sqft
    2018-08-01 63 days 2,036 sqft
    2018-09-01 67 days 2,011 sqft
    2018-10-01 72 days 2,008 sqft
    2018-11-01 71 days 2,011 sqft
    2018-12-01 84 days 2,044 sqft
    2019-01-01 89 days 2,057 sqft
    2019-02-01 85 days 2,045 sqft
    2019-03-01 74 days 2,070 sqft
    2019-04-01 58 days 2,108 sqft
    2019-05-01 52 days 2,128 sqft
    2019-06-01 58 days 2,159 sqft
    2019-07-01 69 days 2,254 sqft
    2019-08-01 73 days 2,260 sqft
    2019-09-01 75 days 2,270 sqft
    2019-10-01 73 days 2,287 sqft
    2019-11-01 77 days 2,304 sqft
    2019-12-01 88 days 2,284 sqft
    2020-01-01 96 days 2,353 sqft
    2020-02-01 93 days 2,413 sqft
    2020-03-01 59 days 2,453 sqft
    2020-04-01 68 days 2,293 sqft
    2020-05-01 72 days 2,353 sqft
    2020-06-01 56 days 2,335 sqft
    2020-07-01 60 days 2,319 sqft
    2020-08-01 53 days 2,305 sqft
    2020-09-01 48 days 2,466 sqft
    2020-10-01 50 days 2,398 sqft
    2020-11-01 56 days 2,482 sqft
    2020-12-01 58 days 2,437 sqft
    2021-01-01 64 days 2,371 sqft
    2021-02-01 45 days 2,111 sqft
    2021-03-01 38 days 2,203 sqft
    2021-04-01 35 days 2,176 sqft
    2021-05-01 32 days 2,085 sqft
    2021-06-01 24 days 2,049 sqft
    2021-07-01 28 days 2,102 sqft
    2021-08-01 31 days 2,170 sqft
    2021-09-01 32 days 2,139 sqft
    2021-10-01 35 days 2,127 sqft
    2021-11-01 35 days 2,194 sqft
    2021-12-01 44 days 2,148 sqft
    2022-01-01 50 days 2,100 sqft
    2022-02-01 35 days 2,178 sqft
    2022-03-01 22 days 2,017 sqft
    2022-04-01 24 days 2,030 sqft
    Santa Maria's median listing age (time on market) for 2022-04-01 was 24 days. This is -30% shorter than the same period one year ago.

    Santa Maria's median square footage for active listings during the 2022-04-01 period was 2,030 sqft. One year prior, the average listing was 2,176 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.