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 67 lenders originated 361 VA loans during 2022. The total origination value was $203,045,000, with an average VA loan value of $562,452.

    Santa Maria VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Santa Maria averaged 5.8% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Santa Maria's average VA mortgage closing costs are $7,431.

    The average rate for the prior week (2023-05-19) was 5.62% and one month ago for the week of 2023-04-21, the average rate was 5.75%.

    The average rate one year ago was 4.72%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.96%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 53 3.87% $10,301
    QUICKEN LOANS, LLC 33 3.77% $17,851
    LOANDEPOT.COM, LLC 30 3.79% $16,246
    Mortgage Research Center, LLC 21 4.70% $12,334
    FREEDOM MORTGAGE CORPORATION 17 3.45% $11,217
    CROSSCOUNTRY MORTGAGE, LLC 14 4.69% $9,581
    GUILD MORTGAGE COMPANY 14 4.28% $16,189
    CMG MORTGAGE, INC. 13 3.72% $11,717
    HOME POINT FINANCIAL CORPORATION 12 4.05% $12,017
    NAVY FEDERAL CREDIT UNION 10 3.95% $9,322
    PENNYMAC LOAN SERVICES, LLC 10 3.19% $13,465
    NEW DAY FINANCIAL, LLC 7 4.51% $12,611
    COASTAL FUNDING SLC, INC. 6 3.85% $18,914
    The Federal Savings Bank 6 3.90% $21,766
    ENVOY MORTGAGE, LTD 6 4.54% $9,553
    GUARANTEED RATE, INC. 6 5.37% $9,826
    CALIBER HOME LOANS, INC. 6 4.48% $13,541
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 4.73% $14,903
    USAA Federal Savings Bank 5 3.85% $14,623
    Golden Empire Mortgage, Inc. 5 3.85% $24,925
    CORNERSTONE HOME LENDING, INC. 4 4.56% $12,939
    Paramount Residential Mortgage Group, Inc. 4 5.69% $8,382
    CLEARPATH LENDING 3 2.71% $9,382
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.25% $21,342
    AMERISAVE MORTGAGE CORPORATION 2 5.13% $23,049
    BEST CAPITAL FUNDING 2 3.75% $4,036
    First Federal Bank 2 5.18% $20,618
    LAKEVIEW LOAN SERVICING, LLC 2 3.38% $7,948
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.88% $19,929
    MOVEMENT MORTGAGE, LLC 2 4.13% $12,804
    Mr. Cooper ( Nationstar Mortgage ) 2 5.19% $21,105
    NEWREZ LLC 2 3.75% $11,092
    PLANET HOME LENDING, LLC 2 4.06% $6,312
    PLAZA HOME MORTGAGE, INC. 2 6.00% $10,650
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.25% $17,873
    Wells Fargo Bank 2 3.38% $10,556
    LOANPAL, LLC 1 2.63% $9,814
    Magnolia Bank 1 4.63% $28,550
    DIGNIFIED HOME LOANS, LLC 1 5.38% $7,526
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.75% $11,423
    Strong Home Mortgage, LLC 1 2.49% $33,443
    SUN WEST MORTGAGE COMPANY, INC. 1 2.63% $6,813
    NATIONS DIRECT MORTGAGE, LLC 1 5.63% $19,398
    NATIONS RELIABLE LENDING, LLC 1 3.25% $15,286
    CONTOUR MORTGAGE CORPORATION 1 5.00% $24,896
    NBKC BANK 1 5.13% $1,151
    COASTHILLS 1 3.13% $11,296
    BNC National Bank 1 2.88% $3,604
    NFM, INC. 1 4.63% $13,803
    Northpointe Bank 1 4.50% $12,603
    Pacific Lending LLC 1 4.75% $10,928
    CHERRY CREEK MORTGAGE, LLC 1 4.88% $21,230
    CENTRAL COAST LENDING, INC. 1 3.25% $18,659
    PENTAGON FEDERAL CREDIT UNION 1 3.63% $15,368
    Armed Forces Bank 1 3.25% $11,649
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.25% $3,511
    VILLAGE CAPITAL MORTGAGE 1 3.88% $19,116
    CARDINAL FINANCIAL 1 3.63% $50,055
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.88% $18,627
    GENEVA FINANCIAL, LLC 1 4.25% $11,968
    GUARANTY HOME MORTGAGE CORPORATION 1 4.75% $10,650
    Florida Capital Bank 1 4.75% $9,368
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.88% $19,949
    FLAT BRANCH MORTGAGE, INC. 1 3.38% $16,004
    FIRST COMMUNITY MORTGAGE, INC. 1 6.50% $3,291
    S1L, Inc. 1 5.25% $20,654
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.50% $17,487

    The top Santa Maria VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 53 VA loans originated. Their average total fees are $10,301, which is $7,551 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Santa Maria VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($9,322), CROSSCOUNTRY MORTGAGE, LLC ($9,581), UNITED WHOLESALE MORTGAGE, LLC ($10,301), FREEDOM MORTGAGE CORPORATION ($11,217) and CMG MORTGAGE, INC. ($11,717).

    The lowest rate Santa Maria VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.19%), FREEDOM MORTGAGE CORPORATION (3.45%), CMG MORTGAGE, INC. (3.72%), QUICKEN LOANS, LLC (3.77%) and LOANDEPOT.COM, LLC (3.79%).

    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%) 3.96 784
    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%) 3.37 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 $895,000 (-10.4%) $2,867,519 (-0.6%) 2.98 765
    2019-04-01 $1,100,000 (4.8%) $2,785,514 (3.0%) 3.49 973
    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 $1,289,000 (29.2%) $3,098,880 (29.0%) 4.04 1,055
    2019-09-01 $1,398,250 (40.5%) $3,366,084 (38.8%) 4.41 950
    2019-10-01 $1,275,000 (28.1%) $3,167,768 (29.4%) 4.11 970
    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%) 4.90 678
    2020-03-01 $1,578,000 (76.3%) $3,635,533 (26.8%) 4.95 705
    2020-04-01 $1,397,750 (27.1%) $3,317,297 (19.1%) 4.38 711
    2020-05-01 $1,350,000 (17.7%) $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 $1,575,000 (26.8%) $3,562,261 (22.0%) 4.57 653
    2020-08-01 $1,735,000 (34.6%) $3,840,069 (23.9%) 4.97 612
    2020-09-01 $1,850,000 (32.3%) $4,131,168 (22.7%) 5.30 562
    2020-10-01 $1,811,750 (42.1%) $4,124,077 (30.2%) 5.19 516
    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%) 4.64 336
    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%) 3.70 295
    2021-06-01 $1,297,250 (-12.6%) $4,418,558 (32.6%) 3.41 342
    2021-07-01 $1,200,000 (-23.8%) $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 (-28.3%) $5,071,788 (22.8%) 3.54 323
    2021-10-01 $1,270,000 (-29.9%) $5,572,701 (35.1%) 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%) 2.71 492
    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 $1,175,000 (-9.1%) $3,711,883 (-33.5%) 2.90 345
    2023-01-01 $1,250,000 (-6.0%) $3,740,501 (-35.4%) 3.09 284
    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%) 3.56 261
    2023-04-01 $1,895,000 (35.5%) $4,548,802 (-17.6%) 4.41 247
    Santa Maria's median listing price for 2023-04-01 was $1,895,000, a difference of $496,000 (35.5%) versus the prior year and $381,750 versus the prior month.

    Santa Maria's median listing price comes in at 441% of the national average.

    Santa Maria's average listing price for 2023-04-01 was $4,548,802, a difference of $-969,775 (-17.6%) versus the prior year and $201,308 versus the prior month.

    For the 2023-04-01 period, Santa Maria had 247 MLS listings, a difference of -14 listings (-5%) versus the prior month and 2 listings (1%) 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 2,109 sqft
    2018-02-01 77 days 2,120 sqft
    2018-03-01 50 days 2,085 sqft
    2018-04-01 49 days 2,086 sqft
    2018-05-01 51 days 2,046 sqft
    2018-06-01 56 days 2,038 sqft
    2018-07-01 60 days 2,017 sqft
    2018-08-01 64 days 1,995 sqft
    2018-09-01 68 days 2,000 sqft
    2018-10-01 73 days 1,999 sqft
    2018-11-01 74 days 2,000 sqft
    2018-12-01 87 days 2,023 sqft
    2019-01-01 92 days 2,034 sqft
    2019-02-01 92 days 2,039 sqft
    2019-03-01 88 days 2,089 sqft
    2019-04-01 60 days 2,068 sqft
    2019-05-01 55 days 2,088 sqft
    2019-06-01 60 days 2,112 sqft
    2019-07-01 71 days 2,169 sqft
    2019-08-01 80 days 2,222 sqft
    2019-09-01 85 days 2,326 sqft
    2019-10-01 77 days 2,257 sqft
    2019-11-01 81 days 2,281 sqft
    2019-12-01 93 days 2,284 sqft
    2020-01-01 99 days 2,312 sqft
    2020-02-01 94 days 2,360 sqft
    2020-03-01 62 days 2,366 sqft
    2020-04-01 68 days 2,206 sqft
    2020-05-01 72 days 2,238 sqft
    2020-06-01 60 days 2,263 sqft
    2020-07-01 65 days 2,281 sqft
    2020-08-01 59 days 2,287 sqft
    2020-09-01 52 days 2,348 sqft
    2020-10-01 57 days 2,363 sqft
    2020-11-01 62 days 2,398 sqft
    2020-12-01 69 days 2,344 sqft
    2021-01-01 68 days 2,210 sqft
    2021-02-01 46 days 1,975 sqft
    2021-03-01 37 days 2,092 sqft
    2021-04-01 33 days 2,067 sqft
    2021-05-01 29 days 2,000 sqft
    2021-06-01 23 days 1,935 sqft
    2021-07-01 32 days 1,954 sqft
    2021-08-01 33 days 2,047 sqft
    2021-09-01 33 days 1,980 sqft
    2021-10-01 36 days 2,007 sqft
    2021-11-01 34 days 2,124 sqft
    2021-12-01 42 days 2,116 sqft
    2022-01-01 45 days 1,998 sqft
    2022-02-01 31 days 2,057 sqft
    2022-03-01 21 days 1,989 sqft
    2022-04-01 24 days 2,002 sqft
    2022-05-01 25 days 2,011 sqft
    2022-06-01 29 days 1,983 sqft
    2022-07-01 29 days 1,937 sqft
    2022-08-01 43 days 1,960 sqft
    2022-09-01 49 days 1,969 sqft
    2022-10-01 54 days 1,924 sqft
    2022-11-01 57 days 1,898 sqft
    2022-12-01 67 days 1,922 sqft
    2023-01-01 74 days 2,048 sqft
    2023-02-01 46 days 2,030 sqft
    2023-03-01 43 days 2,000 sqft
    2023-04-01 43 days 2,129 sqft
    Santa Maria's median listing age (time on market) for 2023-04-01 was 43 days. This is 79% longer than the same period one year ago.

    Santa Maria's median square footage for active listings during the 2023-04-01 period was 2,129 sqft. One year prior, the average listing was 2,002 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.