Santa Maria VA Loans
SANTA MARIA-SANTA BARBARA, CA
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.